The Rutland herald. [volume] (Rutland, Vt.) 1850-1852, 1851-12-11

40 the uutn,cr 0. .,ares into which
the same shah be divided. 4. The
nan,.s anl places of rcsii.ncr oi thr
STARE holders. and tie bumber oi shares
held by each oi ,hrm respectively. j.
The period a, which ssch a..ociaticn
shall commence ami tcrminats; which
certificate slr.it be ACKNOWLEDGED aad
recutdei ~ the Office OF the cicrk -! the
county where any oil. GO Of such a,sccia.
i,on shall be established. aiG rcry
thereof i,isI 10 the oincr OF the sccra-
tarv of S,aie.
j.. The certificate reqiirel by
the last precelin: sectsoa II bn record
ed AMI til.i ~ ,hs u:licc ot the clerk at
1 the county, and secretary of the
STATE aforesaid, O. copies hereof. duty
certified by either u. those oi.icer.. ml,
PLACES, COX and gain. a y sac., n'spti-
tons.
5 Is. All banain. as,o 'i,:ions Or.
eanlle.l uu.l.r the pro,Isiuhi o. TN, act,
shall l.e bank, "t ii.cOIut and DEPOSIT,
u. well u, or crculaton. ani shah have
power 10 carry on the bu>tnr>, VI Lan,.
ing. BY dl, 9uniinL hiiI>. note, aai oih-
rr evidences OF debt by receiving de
posts, by buying and stil,ac gold anl
silver b,l.ion, f,rrisn coin and bill oi
exchange, in The ulnner specified in
their articles ot a,sociaii,n for the pur-
pose, authorized by tbs ne ; br loan.
ing money on real and personal sccuri
ty; and by exercising suci, incidental
powers II, shall be neiessiry 10 carry
On such business to choose one ut
their number as president o: such ~
soc alton, AMI I" appoint n cashier, ana
such other Offices aud agtnt' as ,heii
bI,,nn,. mag require. and n reinpv'
such president, cash er. officers sn'
agents y, pleasure, and to appoin, other
in their place And the us"nl bu'iaes'
of banking of said a>soci .tion shall bt
transacted n, the place wherr sue
banking ASSOCIATION sAAl be !o@'ri
agr-eaJiy to ih. location specified j..
.lie certificate directed to be made by
the second clause of the sixteenth sec
ton or til. ACT, and n, elsewhere.
| -. The ,l,are. OF said ASSOCIATE II
shah be deemed personal properly, anc
shall be transferable on the booiS "f ih'
association, in such manner as may be
agreed on in the articles of Association
ami every person becoming share
holder by such trah-!er. shall, in pro
portion "a bjs 1sv3re. ,.s'.r"as'l - ~ ''''
ar. and no change shall be made II
,hr articles Of association, by wh'c" Ia
r;ch,s. remedies, 5, or securities oi MS OK
;.tin, creditor, shall be- weakened O
inpairei. such association siaii nc
be dissolved by the death or insanity
any OF the shareholders therein
! -. II shall o1 lawful tnr an
. association of PERSONS, orsan'"'" uhu'
the proy.s.ons OF this ac'' ny '"e
, article, Of association, 10 provide Tor
. increase oc their cap,ai, s.nd Of the nn'
her Of their associates, from tune
> time, as they may think proper, the IA
r pr,cate capital no! to exceed two nan
), red and fifty Thousand dollars As 'e'o
= provided -.
= II. Contracts made by am 81
a.socialion, aud a! notes and u''i'
!, Them issued and pat IN circulation
% money. shah bG s'gncd by the r''S'''
II or vice l,rt s.icut and cashier 'l'cie'
.. and ali SUITS, action, and proCet!"''
h brou.h, or prosecuted by or on oe''
Of slch association, may oe brousAi
the name OF such aosoc.;i'oh'
\. ~. All ,ero0n, ha''n" dem u
he ncain,; any such association. 'n'? 'h'
, ;,.ig, actions nj law or IN elal'E' acc
Ia iur,o the nature Of the case, aga
=, SYrh association by their name ana
i, iud-meu,s and d"crecs Obtained
I rendered against snch asSor'"i'on'
~ any dcyt or Inability o such a"'"c'A!
-. ,i,a!i be enforced only against we J
1, uroper17 OF the ASSOCIATION. when P'
,r = I, shall be ,,ab,. 10 be taken ana
- by execution under any sach jads"
zen or deer ..
6 .. No Stakeholder Of ANY
=. a,.oc,a,.oa snai. D. i'.5!e in b. '1d'
,nI ual capacity, tor any eon'i"'i' de'
,uo,.aln,ut o. sucn association, ~
ID. ,h. articles 0! a>soriu'On py him 81:
.h.llliyc dee arrd ,hi 'h~ ahare'
:, .r. ,ha.! be so Iiab!e, except as hei
.ing after provided,
ort II. i. saall be l.wGul for
J,l A:.o.ia'.cn 10 purchase, ho'i ana
,r.- ,.y rea! cs.a'c ~ 'hc io..D"t"G J.
nar .e,: !. SIch as shall he hcor'
,Lf for lis immediate a"con'o'aiion +.
. eonvenien, transaction OF rs bns''
, or. ~. such as shall be no''s'S"'
=, =. IN good ,a.,h, by way Q! SrcHf!'.
=, loans made by, OF IL o'iey due 70
Geo a..ociation; or, I'd. such as shl
rnoyeyed 10 i. in satisfaction O!
Wv" nreyioa.ly contracted, IN the cou'
A.. dealings or. Al. sech a" IT
.a.o nc1aire by way Of ex eeu'i'n. Il
, ~. a,.ocia,ioh slail nu! putchase' II"
H.. coavcy roa. estate, ~ any o,'ef -
:. " =, for a'.y o,hvr purpose; and all ca
- .nc-, OF such real estate shai! be
,pi'sl 4" the ''''
no , %. lIon me afF,sN'''
:. nor creditors or shareholders Q. an.
thoa. ,,soc!a,..9, whose debts or
,hait a,noua, to one thousand d
their ,,A stain, facts, verified by ali
'hea'e . chancellor may. in bis d'screa
name der a strict examination to be
.AIioi.. L.rnrr nf a