Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1841-07-03

shall be according TO the number Of shares he,
She or they respectively shall hold, in the pro.
portions following, that is TO say: for one share
and not more than two shares, one vote; for ev.
cry two shares above two, and not exceeding ten,
one vote; for every four shares above ten, and
not exceeding thirty, one vote; for every six
shares above thirty, and not exceeding sixty, one
vote; for every eight shares above sixty, and not
exceeding one hundred, one vote; for every ten
shares above one hundred one vote; but no per.
son. copartnerShip, or body polite, shall be emit.
tied 10 greater number than sixty votes and. al.
ter the first election no share or shares shall con.
fer right of voting, which shall not have been hol.
den three calendar months previous to the day Of
election; no proxy to any officer Of the band, or
Of more than ninety days standing, shall be valid;
and stockholders actually resident within the
United States, and none Others, may vote in
elections by proxy, or otherwise; and any person
holding proxy may be required, by any stock.
holder, at the time Of voting, TO make oath that
he believes his principal, in whose behalf he
votes, to be the bona fde holder OF the share or
shares, and that no sales or transfer has been
made, for the purpose of evading the scale Of
voting established by this act.
Cd. Not more than four-ffhs Of the drec tors
elected by the stockholders who shall be in office
at the time of an annual election, shall be elected
for the succeeding year, and no director shall
hold his office for more than four years out OF five,
in succession; but the director who shall be pres.
ident at the time of an election, may always be
re.appointed, or selected, as the case may be.
Sd. None but stockholder, resident citizen,
shall be director. Not more than two direc-
tors shall be elected and not more than one ap.
pointed, out of any one State; and they shall be
paid by said banks such reasonable compensation
for their services as the stockholders, at their an.
nual meeting, shall direct; but the salary of the
president shall be fixed by the directors.
4th. Not less than three directors shall con-
sttute board for the transaction OF business, oil
whom the president shall always be one, except
in case of sckne IS or necessary Absence in which
case his place shall be supplied by any other d.
rector whom he, by writing under his hand, shall
depute for that purpose; and the director so depu
ted may do and tram sact all the necessary business
belonging to the office Of the president of the SAID
corporation, during the continuance Of the sick.
ness or necessary absence of the president
5h. A number OF stockholders, not less than
sixty, who, together shall be proprietors of one
thousand shares, or upwards, shall have power
at any time to call general meeting Of the
stockholders, for pu rposes relative to the insttu
ton, giving at least four weeks notice in the pub
lie newspapers, Of The place where the bank i:
seated, end specifying in such notice the object
or objects of such meeting.
9th. Each cashier or treasurer, before he en-
ters upon the duties of his office, shall be re
quired to give bond, with two or more sureties
to the satisfaction Of the directors, in a sum no
less than fifty thousand dollars, with condition
for his good behaviour, and the faithful perform
ance Of his duties to the corporation.
9TH. The lands, tenements, and hereditaments
which it shall be lawful for the said corporation
to hold, shall be only such as shall be requisite
for its immediate accommodation, in relation tc
the convenient transaction OF its business, and
such as shall have been purchased at sales upon
Judgments, or shall have been assigned or set of
to said bank in satisfaction of said judgments
, which shall have been obtained for debts due;
; nor shall the said corporation hold any one par.
Gel OF such lands or tenements. not necessary
for the convenient transaction Of its business for
a longer period than five years.
6th. The total amount of debts which the
said corporation shall at any time owe, whether
by bond, bill, note, or other contract, over and
above the debt or debts due for money deposited
in the bank, shall not exceed the sum Of twenty
five millions OF dollars, unless the contracting Of
any greater debt shall have been previously au-
thorized by law. In case Of excess, the directors
under whose administration it shall happen shall
be liable for the same in their natural and private
capacities, and an action Of debt may, in such
case, be brought against them, or any Of them,
their, or any OF their heirs, executors or admin
strators, in any court OF record Of the United
States, by any creditor or creditors of the said
corporation, and may be prosecuted to judgment
and execution, any condition, covenant, or agree
men, to the contrary Notwithstanding but this
provision shall not be construed to exempt the
said corporation, or the lands, tenements, goods,
or chattles of the same, ). being also liable for,
and chargeable with, the said excess.
Such of the said directors as may have been
absent when the said excess was contracted or
created, or who may have dissented from the
resolution or act whereby the same was so con.
tracted or created may respectively exhonorate
themselves from being so liable, by forthwith
giving notice Of the fact, and of their absence or
dissent, to the President Of the United States
and to the stockholders, at a general meeting
which they shall have power to call foy that pur,
pose.
9Th The said corporation shall not directly
Or indirectly deal or trade in any thing except
promissory notes; inland bills OF exchange, gold
or silver coin, or bullion, or goods, or lands pur-
chased on execution, or taken bona fde in thu
| payment Of debts, or goods which shall be the
proceeds Of its lands. 1t shall not be at liberty
10 purchase any public debt whatever nor shall
it take more than at the rate of six per centun
l per annum, for or upon its loans or discounts.
10TH No loan shall be made by the said cor
poration for the use or on account Of the Gov