Litchfield enquirer. [volume] (Litchfield, Conn.) 1829-current, 1852-07-29

shall be divided;
a. The names and place of residence
Of shareholders, and the number of
shares held by each of them respective
ly;
| s. The period at which such corpora
| ton or association shall commence and
terminate =
Which certificate when so m~de as
aforesaid, shall be acknowledged before
IL proper authority, and recorded in the
town clerks Office, in the town where
such corporation or association shall be
established, and copy thereof filed in
the Office of the Secretary of State and
said certificate Or any copy thereof, cer>
titled by either The Secretary Of State, or
by the clerk of any town where such
corporation or association shall be loca-
ted, May be used in evidence in all courts
and places, for and against any such
corporation or association.
Sec 3. Any number of persons VINO
may associate themselves together for
the purpose of banking under this Act,
shall constitute and nj IKE corporation
! under the name and title assumed by
them in their articles of association. and
are hereby made a corporation under
such name and title. with powor TO sue
and be sued, plead aud be implicated.
ans wer and be answered unto, appear
and prosecute TO Gnal Judgment. i'll any
court or else where to have u common
seal and to alter the same at pleasure ),
to elect in such manner as the corporation
shall determine, all necessary officers to
fix their compensation and define their
duties to ordaln and establish bylaws
Tor the government Of its affairs, and to
alter and repeal the same and to employ
all such agents as it shall think proper.
And the corporation shall have power
under thu If articles Of asscciation, TO
provide for an increase Of its capital and
of the number of their associates from
time TO time, as they may think proper.
Sec. 4. Such association Of persons or
corporation having transferred to the
treasurer securities acco, ding to the
provisions Of this Act, shall have power
to carry on the business of banking. by
discounting bills, notes and other evi,
dence of debt by receiving deposits, by
buying and selling gold and silver bull
ION, foreign coins and bills Of exchange
in the manner specified in their articles
of association, for the purpose authorized
by this Act: by loaning money on real
and personal security; and by cxerc isng
ouch Incl iental powers as shall be nee
essary 10 carry on such business; to
choose one of their number president of
such corporation. and to appoint CASH
Ter. officers and agents at pleasure, an |
remove the same and appoint others in
their places.
Sec. 5. Whenever any corporation, or
association of persons formed for the
purpose Of banking under the provisions
of this Act. shall legally transfer to the
Treasurer of this State any sufficient
portion, by the provisions of this Act, Of
the public debt now created or hereafter
to be created, by the United States, by
either one of the New England States,
by the States of New York and Olio,
Pennsylvania, Virginia and Kentucky, or
of the cities Of New York and Boston
or of any Incorporated city in the State
of Connecticut, such corpo' alton. or as
ISOLATION of persons. shall be entitled to
receive from the Treasurer an equal
amount Of such circulating notes as are
mentioned in the first section of this Act
of different denominations, registered
and countersigned as aforesaid. Bul
such securities shall in all cases be, OF
made TO be. equal to stock producing
six per cent. per annum, and it shall moi
be lawful for the Treasurer to take any
stock at rate above is par value.
Sec. 6. Such corporation or associa.
ton Of persons. are hereby authorized,
after having executed and signed such
circu lating notes in the mlnner required
by law to make them obligatory prom
issory notes. payable on demand. at the
place OF business within this State, OF
such corporation or association, to loan
and circulate the same as money, Accord
ing 10 the ordinary course of banking
business. as regulated by the laws and
usages Of this Stale.
Sec. Z. In care the makers of any
such circulating notes. coun,ersigned
and registered as aforesaid, shall at any
time hereafter. on lawful demand, during
the usual hours of business, between the
hours of ten o'clock A. NJ. and three O
clock P NJ. at the place where such note
is pay able, fail or refuse TO redeem such
mole in the lawful money of the United
States. the holder of said note making
such demand may cause the same to be
protested for non payment, by notary
public under hii seal of Office, in the
usual manner. and the Treasurer on re
ceiving ane filing in his office such pro-
test. shall forthwith give notice in writing
TO the makers of such note to pay the
same with cost of protest; and if they
shall omit to do so for ten DAYS after