Plymouth banner. (Plymouth, Marshall County, Ind.) 1852-1855, 1855-05-03

shnil remain until one year from the time
such branch was suspended.
Sec. 46. The Directors Of the Bank
shall have power TO regulate the manner
Of holding elec,ions ior directors OF the
branches. and may, il necessary. change
and fix .he time of holding the same. OF
which elections reasonable notice OF
time and place shall be given.
Sec. Al. And in case an election Of
Directors should not be made on the snme
day when The So nae should have been. she
directors Of The Bank shall orcer q new
election. and the directors for the time
being shall continue TO hold their ofires
until such election takes place and their
successors are qualified.
Sec. -. No failure on the part Of the
General Assembly. or Of the branches. 60
elect directors OF the Bank. shall be con-
sidered as dissolution Of this corporation
bu, the directors for the time being shall
continue 20 hold aud exercise their off
ces until their SUCCESSORS are chosen and
qualified.
SEC. as. Said directors shall have
PO"Cs w IL uHu NOitspt Wv
bends Of profits so that the capital stock
shall! never be diminished. md TO create
and keep up a surplus fund that shall ne
yer be less than one.six,eenth OF the cap
i,,l stock in each branch.
Sec. so. In the calculationof The prof.
It's previuus to dividend, interest then
unpaid. although due or accrued on debts
owing 10 any branch, shall no, be inclu
ded.
Sec 81. Dividends OF profits shal! be
declared semi-annual,y.
Sec. So. Said Bard or Directors
shall have power TO close any branch
which. nfler the frs, year. shall moi yield
a profit Of six per cent. per annmn. upon
the capital actually paid ia. and she same
may be proceeded in as in case of insol
vency, unless the discount sholl have beer
limited aud controlled by the directors Of
lac Bank. so rs 10 prevent said stock from
yielding such profit.
Sec 53. Ih-y shall cause 20 be open.
ed and kept. by their clerks. accounts
with each branch. showing the operations
Oh each. snd keeping constantly III view
their business and condition. which sha II
be at oil reasonable times open TO the III
spectiun of any Stockholders. snd of any
person snlhorszed by the Legislature to
inspect The sane.
Sec. 54 They shall likewise keep o
record of oil their proceedings. III which
all their orders. votes and resolutions shall
- a q
questions which shall be open to like in
spec,lOn.
Sec. SIS. Thew shall apportion the sal
ny ef ,As p ei,iNnt md all n,her officers
agents and diiecn Is Of the Bank. and al
other genera expens es. among the serernl
branches. ,ccoi ding TO the amount of STOCK
IN each. end shall have power 30 demand
mud receive the same.
Sec. Sc II shall be the duty OF the
directors Of The Bank 10 keep and preserve
the original books of subscrli lion OF stock
aud 10 cause to be returned 10 them ir"n
such branch. every six months. state
mert of all transfers Of stock made ih,
preceding six months.
Sec. 81. They shall also procure anc
take charge OF the plates on which hi
paper Of said Bank shall be printed. an
shall cause d sufficient smount thereof 4
be printed from time 10 time as occasion
may require.
Sec. So. They shall deliver. on tn
order OF the Board OF Directors Of Gao!
branch. an amount of such paper no, e1
ceeding twice the amount Of capital nc
tually paid in al such branch. excep
when more shall be walled 10 replace tha
which may have been worn oul. detacet
or lost; in which cnse all so detaced shat
be returned 10 SAID Board Of Directors o
the Bank and de>iro, ed; md they shal
give no oiher or greater amount for pape
los, Than they shall hive good renson i'
believe is actually lost by circulation u
otherwise. No notes shall be issued o
denomination between FIVE and ten, or ter
and twenty. or twenty and fifty. OF iift!
md one hundred dollars, nor shall NOR
,hau one sixth Of the notes issued 70 nnl
branch be of drnumnatiors less than fiv'
dollars. aud 10 notes shall he issued o
any denomination less Than one dollar.
Sec. SO. FIVE Directors. with tn
President. shsl, be necessary 10 constitute
n Board ior the transaction ct business
bu, in case Of sickness or absence OF TIT
President. his place may be supplied TO
The time being by sny director chosen b!
the BInrd
Sec. so. /, shall be the duty Of th'
Board OF Directors. in the frs; week o
+nch session Of the Legislature. to mike
se port 10 both Houses OF the Grneral As
sembly Of the sffairs and business OF sai'
Bank. and oil e,ch branch thereof, setting
forth in regard TO each.
FIRST. The amountof available fund
on hsnd. designating each kind.
Src.sp. The amount OF notes discount
ed.
THIRD. The amount OF bills Of ex
change.
FOURTH. The amour, and condition
OF the surplus fnnd.
+ FIFTH. The amount of notes in circu
latrn.
! SIXTH. The number Of officers ant
servants and the amount Of compensation
10 each.
SEVENTH. The amount Of rents paid
If any.
EIGHTH. The value OF houses used 70
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