Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1841-06-17

" "Soofuhs 70 the number Of shares he, she or the
respectively shall hold, in the proportions follow
that is to say. for one share and no, more than Nv
70 shates, one 'oei for every two shares above tw,
:, and not exceeding ten, one vote; for every Cor
haies ABOVE ten, and not exceeding thirty one vo,
!, ,oteVery SIX shares above thirty, and not excee,
q ing sixty, one vote; for every eight shares abo,
i sixty, ana not exceeding one hundred one vote: Il
every ten shares above one bundled, one vote; br
~ psrSon' eo,oaiinership or body polite, shall
enutled To greater number than sixty votes; anS
aier the hrst election, share or shares shall con
Ter right OF voting, which shall not have been hol
u en- three calendar months previous TO the day ,
election; no proxy to any officer of the bank or q
more Than ninety days standing shall be valid. an
s'ockholders actually resident within the u States
anu none Others, may vote in elections by proxy O
otherw'Se; and any person holding proxy may h
require by any stockholder, at the time of yotin,
70 make oath that lac believes his principal in who's
tehah he votes, to be the BONA fde holder of IN,
share or shares and that no sales or transfer ba
oesn made, tor the purpose of evadns the scale o
, 'onng established by this act
2d. Not more than four.f (lhs of The J;,,.,,-,
elected by the stockholders who shall DC in Office
ne time OF al nunual election, shall be elected f,,
me succeeding year, and no director shall hold hi.
! eesSlon; but the director who shall be president al
the Time OF an election, may always &c
) or selected, as the case may be-
ID. None but stakeholder, resident citizen sha l
DC uirector Not more than two directors shall be
elected, and more than one appointed ont of nnv
one State; and they shall be paid by said banks
sueh reasonable compensation for their services as
tne stockhodors at their annual meeting shall direct.
directors. ~ ~
4ih Not less than three directors shall constitute n
Doara to' the transaction of business OF whom the
ttesineni shall always be one, except in case of
| SICKNESS or necessary absence, in which case his
place shall be supplied by any other director Nbop,
nc oy writing, under his hand shall depu,e for that
| purpose; ana the director so deputed NAV do and
transact al The necessary business belonging to the
4 he
rug 'he continuance OF the sickness necessary ab.
j sence OF the President.
9ih: A number of stockholders, not less than sly
", Who together shall be propretors OF one thou.
sahn shares or upwards, snail have power at any
TIME 10 call general meeting of the stockholders
o' purposes relative To the institution giving nj least
Iout weeks notice IN the public newspap erS, Of the
pace where the bank is seated, and specifying in
such honee the object or objects of such me cling
Oi' Eich CASHIER or treasurer, before lac enters
upon INC duties OF his office, shall be required TO
give oond, with two sureiies TO the sallsac.
Von OF inc directors, IN sum not less than fifty thou.
sanu aoarS, witE coalition for his good behaviour
poraton. ~ ~
IN The lands, tenements, and Entertainments
winch II shall bc lawful for the said CORPORATION 10
mo.u' saa'' oe only such as shall be requisite tor its
'u'suIa'e accommodation, in relation TO the conyc.
nent transaction OF its business, and such as shall
nave oeeh purchased at sales upon judgements or
sha'l have been assigned or set OF to said bank in
satisfaction Of said Judgments which shall have been
VoaheI Tor debts due; shall the said corporntion
no Il any one parcel OF such LANDS or tenements NO,
necessary Tor the convenient transaction OF its bust
ness, ioT longer period than five years
oSn' ne total amount OF debts which the said
corporation shall atsny time owe, whether nv hond
OH, note, or other contract over and nb1vs ,Ln
ueot or debts due Tor money deposited IN the hank
Sha'' not exceed the sum OF twenty-five millions nf
u",eSs the contracting OF any greater debt
snail nave been previously authorized nv law Ia
case OF excess, the directors under WHOSE ,d,,i,
ration Il shall happen, shall be liable for the same
!" thelF hatuTa! and private Capacities; and an ac
1On o! ueot may, IN such case be brought AGAINST
'"eH OF any OF them, their, or any of tnsIr heirs
.Iu'Tts or administrators, in any court of record
T 'he United States, by any creditor or creditors Of
slS S1'd corporation, and may be prosecuted to
yIusheh' ana execution any condition. covenant or
-. ,l u me contrary Notwithstanding; but
's I.oNs'on shaIi not be construed TO exempt the
SaIu corporation, or the lands Ienemenls Goods ar
o1''es OF me same being also liable for and CHARGE
able with the said excess
SuoH OF me sald directors as may have been ab. |
' ""eh the SAID excess was contracted or created
O' VINO may have dISSented from the resolprop %.
az whereby the same was contracted or creats5
may respectively eNonerate themselves firm, LsIn9
I1ole oy forthwith giving notice of the fact md
UI elr absence or dissent, to the President ~ ,L
me States and TO the stockholders at n general
tIat purpose ~ N''' 'o'
Y.H. The said corporation shall no; directly or
sorry notes. inland bills Of exchange cold or siys
CON- or bullion, or goods, or lands purrbossJ %
eN1euoh, or taken bona ide IN the payment of 5eb,s
% soous winch shall be the proceeds of i,s I,,d.
49, ~. oe d hGerty TO purchase any public
ueo' whatever, nor shall Il take more tba1 q, Ihc
rake oil SIX per centum per annum for o. -, -, |
loans o. discounts ''' VI upon us
IoIH' No ,oan shall lie made by the said corpor,.
80. ~ 'ue use or on account ofthe Government
oil the United States, TO an amount ercssJo -
/ tnr
o'e HuhIfel ana eighty days, or on account of any
t-'"ISA' STATE, to an amount exceeding one bun
uleu lhoGsand dollars, or for any period exceed,ns
o,,hn au'.u,e4 ana eShty days, unless previously
| authorized oy i .aw Of the United States
lin. The stock of the SAID cornnrt,;I,, sb.u l.
s-ia1c and Transferable, according to such ruIe,
d Sh"'l oe Instituted IN tina; behalf by the bv I,
/ anu ofdnInceS OF the same ""
,ba sa ne oils obligatory and of credi, under
e sea VI the SAID corporation, which shall he r,7c
" 9"y person or persons, shall be assi,nabIe L,
'S1o' Seii'ehi thereupon, under the hand or n,nds
VI suIH person or persons, and his her or tIsir
1919, VI administrators and OF his her or their
HSS'SI'e or assIsnees, and so as ubsoI,,,I, -, -
! Iet ana vest the property thereof in e,ct ~ -,
sSiS"ve or asslgnees successfully; and To ep,Lf,
su-h ass ghee or ASST nees, and his Ter nj, tbe;x
tSu'o's or administrators to maintain m 80;
LneIeupon, ~ ms, her, or their own ,n,e ne 49,,
fTO''asa, That said cooperation shall not maxi 80,
VI" OOIghtOry, or OF credit, or Other oII,,,,;a -
Yer Us sea-, Tor the payment Of a sum ess tban &C.
/ year. P0''ON 'Hah one
/ IS h. And bills or notes issued nv o,d., or Il.
sau corporation, signed by the president and COM
lssneu ny the prnclpn. cashier or treasurer tbc,c
VI promising the payment Of money 30 ans, ne,.o,
VI PERSONS ms heT or their order or 10 Es,,,r 81
Woush not under the seal Of the said co.,
/ I'tor' sHa'i De binding and Obligatory upon ala.
s1i'e' IN IKE manner, and with like f,rcc
anu eli Co. as Won eny private person ar ro,.
i.H u Iasueu oy hun, her, Or them, IN his
/ - ~ -. 'neI private or natural capacity or
capacities, and shall be assignable and ~ VI
IN IKE manner II they were so issued j, s
PE'te person or PERSONS that Is TO saw those ,b;b
snail be payable 10 any person or perSons 80 L
% IheH oTder shall be assIgnabIe by endors.,oa,'
ln IKE m1nner and with the like effect ne G,,c,5
D',s OF exchange now are and those which are rS,
""' I" o'ar-r shlIl be ass enable and pcgo,,,Lf,
. ~ utHFcfy only: PTOUided, That nlI iii.
49, 10 !" be issued by SAID corporation .bofIIc
l"ale payable on demand, other tnau hills ~ -,
TOT the payment OF a sum not less than one b,,I,J
uo'ars each, and payable to the order of seo1e 80
son or persons which bill or notes IL sb,l, bsI,CI
'Of Sad corporation TO make payable Of onv ,,,o.
10, exceeding ihrly days from the date thereof
Iilh nan yearly dividends shall LIE made n ~
inuen ol the profits Of the bank as shall ,noc,r y,
the directors advisable not exceeding three no, COO,
IyL uny one nan year, unless some prior half ve9,,v
u'Ei"eHu shlil nave fallen below that nrnoyn, 4,
"h,sh case the dividends may he increased ,o,,I
such uehcIcncy oinny former dividend or diviJs,Js
Win SIX per cent interest thereon shall bc ,,.gI
good u there shall be failure In the n,,,,,, 20
any pert Of any sum subscribed 10 the rSni,,J r H.
sad bank, by any person. coplrtncrship. eornor,,,,
or STATE the Tarty failing shall lose Tie bens6 80
any dividend which may I4Ko ,rc,..t