Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1843-01-24

ioSNS SoluhSotSS ln0I6iOT, 70 lenQ none
discount bills of exchange, promissor
notes, and other negotiable obligations
for the payment Of sum of money Ger
tainj but 40 loan shall be made for Ion
ger period than six months, nor shall an
bill of exchange, promissory note, or 9th
er obligation, be discounted or puTchas
ed by such bank which has more than 81,
months to run from the time Of such dis
count or purchase, nor without the con
sent OF at least three Of the director.
thereof; 81"
Seventh-To issue bills or bank notel
for current circulation, as hereinafter pro
vided, payable to bearer on demand at it
banking house; to make drafts or checks
on individuals, companies, or corporationI
payable TO order at such place, and a
such time, not exceeding thirty day.
sight, as the directors for the time being
may deem expedient; such drafs or checks
TO be issued for the purpose of remit
lance or collection only, and not for cur
rent circulation.
SEC. 2. So soon as the capital stock
of such bank shall have been subscribed
the commissioners, appointed d by the Spe-
cial act of Incorporating the same, shall
give three weeks notice, IN some public
newspaper ofgeneral circulation in the
county. where such bank is TO be located
of tbe time when, and place where, the
stockholders OF such bank shall meet for
the purpose of holding their first cleo
tion of directors, at which meeting said
commissioners shall preside; they shall
receive and count the votes, and shall
certify ard publish the result. All such
elections shall be by ballot, and the
said stockholders may vote either in
person or BY proxy, and the nine persons
being stockholders, and owning each 10
shares of stock, as herein elsewhere pro.
vided. who shall receive the greatest
lumber ofvotes, shall be declared duly
elected, and shall constitute the first
board of directors of such bank, and shall
hold their Offices until the next annual
election, and until others are elected and
qualified in their stead. Eack stockhol>
der shall be entitled 10 give one vote for
every share Of such capital stock owned
by him, and which shall have stood in his
name, on the books of such bank, for at
least thirty days next preceding any such
election, provided the number of shares
owned by such stockholder, as aforsaid,
shall not exceed the number of twenty,
and, for every Two shares above the num-
Der of twenty, such stockholder shall be
entitled to give one additional vote; but
no person, except stockholders, shall be
permitted to serSe as proxies at any such
election; provided, that no president or
cashier of any such bank shall exercise
that privilege, nor shall any person be
permitted 10 vote, either in person or by
proxy, who is not resident Of the .Uui-
ted States. s..
Sec. 8. At every election Of directors
Of any such bank three persons shall be
chosen, in the same manner as directors
are eiscted, by the persons entitled TO
vote for directors, to act as inspectors of
the next succeeding election, whose duty
it shall be to conduct suCG election IN
the same manner as the commissioners,
specified in the second section Of this act /
are required to conduct the first election
of directors, any two of whom shall be
competent to hold such election; and if
any su ch inspector shall die, remove, or
refuse 10 serve, the vacancy shall be fill.
ed, by the directors Of said bank, for the
time being, hut no person shall bs cho-
sen or appointed an inspector ofan eIec-
ton of directors of any bank Of which he
shall be director or officer, and no per-
son shall be elected an inspector as afor-
said except he be stockholder in such
bank. Every such inspector, before he
shall enter upon the duties of his appoint
ment, shall take and subscribe the follow
ing oath or affirmation; 81 do Solemnly
swear for affirm that will discharge the
duties of an inspector of the election now
to be held with strict impartiality, and in
conformity to the provisions of law accor'
ding 10 the best ofmy knowledge and abil'
ity.'
Sec. 4. No person shall be allowed to
vote On any shares!oG stock hypOtheCated,
or pledged as collateral security to. any
other Corporatian, nor upon any shares
which may have been transferred 10 him
for the sole purpose Of enabling him to
vote thereon at such election; any
person, offering to vote at any such elec-
ton, may be challenged by any other per-
son authorized by law TO vote at the same
election, and to every person SO chsllen-
ed, if offering to vote in his own right,
one of the inspectors shall tender the fol-
lowing oath, or affirmation: 'You do sol.
emnly swear, or affirm, that tbe shares Of
stock on which you propose to vote, are
now held and owned by you, as yonr own
bona fide property and that the same are
not pledged or hypothecated to any 9TH
er body, corparate, whatever, and that
such shares have not been transferred to
you for the sole purpose Of enab bling you
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