Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1864-12-10

c~rt.cx.r. s~ s-ss earr~~z:e Sar -Azl s.ns
ss s~x.alzz.s. and s~r-.-<rs vr-lssasz-rs. 1a.E
0s<is-d ~ fhr oa@yer~s<T s< thr rzrrrars 'e es--
tss ezss.<~s af s-nk1Rt >Seh .>-sx,ssn se-A
saecessssu ,h~ nzsae a~s<n.srd orzntEztls.-
unr~s dissolved 2oosrnx % thr ssE>sns 81
sts ar'sces q sssesatlsa &C es tAr A. Il q, sA.sr
hoi8<rs s~nIng tss-hirds II IT, -tsrk unlr>s tAc
fr2nchiss shall ee ffcif-d ss sisl4ton u fkss Art;
by such name make eonfr.efs. and b. sssd.
complain and desna- in sny court of S- and equity
as fully as natural persons: n elecf &C arpoIaf
directors. and by board VI directors .pPesf pre-
ident, vcepgesia@nt. cashier. and oshsr ossrs de-
tine their duties require bonds of them and m the
penalty thereof dismiss saia as>crs any of them ai
pleasure and appoint othcrs TO NIL their places and eh
erci.e under this act all such incidental shall
be necessary carry the business Of banking By
di.eouating and negotiating promssory notes. drafts,
bills Of exchange and other evidences of debt by re-
ceiving deposits, by buying aud selling exchange
coin, and bullion by loannu money on personal Sc
curty BY obtaining, issuing, and circulating note.
according To the provisions Of this act and its board OF
directors shall also have power to define and regulate oy
bylaws, not inconsisant with the provisions Of this
act the in which its stock shall be transferred,
| its general business conduct, and all the privileges
granted BY this act to associations organized under
shall be exercised and enjoyed and its usual business
shall be transacted at an Office or banking house To-
Gated in the place specified in its organization ccrtih
cate.
Sec Q. And be it further enacted, That
the affairs Of every association shall be managed by
less than five directors Of whom shall be the
president. Every director shall, during his whole
and least threcfourh Of the directors shall have
sided in the state, territory, or district in which such
association is located one year next preceding their
ing their continuance in Office Each director shall
own, in his right atcast ten shares of the capi-
tai stock of the association of which he is director.
Each director, when appointed elected, shall take
oath that he WILL far the duty devoves on him,
diligently and honestly administer the affairs Of such
ly permit to be violated, any of the provisions Of this
act, and that he is the bona fde owner in his own
right, Of the number of shares Of stock required by
him. standing in his name on the books Of the as
socation and that the not hypothecaed or in
| any way pledged, security for any loan or debt;
which oath, subscribed by himself and certified by the
officer before whom it is taken, shall be Immediately
transmitted to the comptroller Of the currency by
him filed and preserved in his Office.
| Sec. 10. lind he further enacted, That
the directors of any association first elected appoint
ed shall hold their places until their successors shall be
elected and qualified. All subsequent elections shall
be held annually on such day in the month Of January
as NAV be specified in the articles Of association and
the directors elected shall hold their places for one
year. and until their successors elected and quail
request amount Of Stock having in any other MAN.
become disqualified, shall thereby vacatc.hs place.
Any vacancy in the board shall be filled by appoint.
mcnt by the remaining ectors and any director SO
appointed shall hold his pl &c until the next election.
II from any election Of directors shall not be
for that cause be dissolved but an election may be
held any subsequent day thirty days notice there
Of all cases having been given in newspaper pub.
|
sociaton is located; and newspaper is published
in such city, town or county, such notice shall
be published in newspaper published nearest thereto.
II the articles Of association do not fix the day on
which the election shall be held. or il the election
should not be held the day fixed, the day for the
cs r. 4
directors fail to fix the day. aforesaid, shareholders
representing two thirds Of the shares may.
| Sec. IL. And be further enacted, That
in all elections Of directors and in deciding all ques
tions at meetings Of shareholders each shareholder
shall be entitled to one vote on each share OF stock
authorized in writing; but officer clerk, teller or
book-keeper Of such association shall act proxy;
and shareholder whose liablit, past due and
Sec. IL. And be further enacted That
the capital stock Of association formed under this
shall be divided into shares Of hundred dollars
rable the books of the association in such manner
may be prescribed in the bylaws articles Of
sociatcn; and every person becoming shareholder
cced to ali the rights and liabilities OF the prior holder
Of such shares. and no change shall be made in the
security existing creditors Of the association shall
be impaired The shareholders Of each association
formed under the provisions Of this act, and Of each
the provisions Of this act. shall be held individually
responsible, equally and rataby and not for another
for all contracts debts aud engagements Of such
therein ut the par value thereof in addition to the
amour: invested in such shares except that sharehod
erS Oh uny banking 0S8Oci0tOn now existing under
state laws having not less than five millions Of dollars
Of capital actually paid in and surplus Of twenty per
cenum on hand, both to be determined by the comprol
Of the currency shall be liable only to the amount
| invested in their shares and such surplus Of
twenty per centum shall be kept undminishcd, and
be In addition to the surplus provided for in thin act
plus of twenty per centum the said banking association
shall not pay any dividends to its shareholders until
such dehcencv shall be made good; and in Of
such deficiency, the comptroller 0f the currency may
compel said banking association to close its business
and wind up its affairs under the provisions Of this
aet And the comptroller shall have authority To with
hold from an association his certificate authorizing the
| commencement Of business, whenever he shall have
to suppotc that the shareholders thereof have
| objects contemplated by this act.
Sec. IS. And be 6u,fter enartsd, That
il shall be lawful Tor sssnr;s,sn formed under
increase Of its capital from time time a. NAV be
dee@ed exPedi~.t subject the lmitatioas Of this
act Psossd~d That the naxinun of such Increase in
the ARTICLES c association shsl be dtsrnned by the
eo@ytroler c the and no iurr~as~ ef eari-
tai shall be- valid nnf The whsse assouns q ssrh
crease sAa be pad in. and notice ther-s< hall have
hrn transmitted to hr cusuperpi-r of thr znA
has c<rtn<.s~ sse.inrd s~fsiax th~ af snrA
sncssas< e e-vtai sseck. vssh has syVrss1 she ~
sA.; has e... s-. p.'d N as par, q tAs s-ya. d
psSs. ~ shr ssse ef shns~hcArss esusns sv.-shpAs
q rs eApt-A s~es. - rrasrs III e.sa-i Il ssrA
~. "a = - - s a. 80. = ~ ..sss.. ',s--s =
rk<s y - ss<A sua.rs.~s sAsE ezya.l s-vuu1s
~sSs tA< sn-@a; rrYz<rd sv tAzs fsx ss.s@sS-
- err~issss.- .Az1 ssrA r-sss-u. - ss.Sr
sstz tAs ..~<@s Il sA< p<-y-.rs s-&.rss. h.- ~
rrg<1~< - ~ cs@pu.1<s Il eErra-y 40 ~ -
prys-; sAsrv~< se<-a.~<
- srs~ Sks yr ss~e-~ - ~ <-g<s~i s.<a % s---y
.Ssss-szs sAHA b P2s@ = srfs<s ~Az1 b. .z<A~<-
nd - es-s=-=<x s>~ss~>s; .s< sAr s~.<a.5rr - ~
sssa.e.as Il - sr.< ~. p-z .... "a - O. .s-s
-. g q -. a s-x.--sl, = 80 .s~.z..r.s
Sm - 80 s.ree~eA.g Ds-es h~s - a.s =