The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1869-03-25
The Citizens' Savings Bank.
STATE OF SOUTH CAROLINA.

| November, In the year of our Lord one
4, thousand eight hundred and sixty eight,
and thence continueds by divers adjourn
ments, to the twelfth day of February, in
4 the year Of our Lord one Thousand eight
hundred and sixty nine:
An Act TO Incorporate The Citizens Sacings
Bank Of So; h Carolina
SECTION 1. Be ii enacted BIZ the Senate and
House Of Representatives. Of the STATE of Soui1
Carolina. no,0 met and sitting in General as.
sembly. and by the authority Of The same,
That +. W: McMaster, J. z. Thomas,
Richard O'Neal, Jr., E. III. Heinitsh, J. Eli
Gregg, Thomas e. Gregg, John B. Palmer,
Daniel Ravenel, Jr., Benjamin II. Rutledge
and Robert G. Chisolm, together with such
other persons as are now, or may hereafter
be, associated with them, shall be, and they
are hereby, constituted and made body
polite and corporate, by the name of the
CITIZENS SAVINGS BANK OF SOUTH CAROLINA
with their office in the city of Columbia:
Provided, That the capital stock of said
Bank shall not exceed the sum of five hun
dred thousand dollars: And procided, fur-
He,, That this Act shall not have the force
of law until twenty thousand dollars of The
capital stock of said Bank shall have been
paid in, and satisfactory evidcr"n furnishe i
to the Comptroller g Goneral.
Sec. 2. The said corporation shall have
power and authority to receive deposits, and
to invest the same, their capital stock, and
other funds, in bank or other stocks, in the
purchase of bonds or stock of this or any
o.her State of the United States, or of the
United States, to buy and sell gold and sill
yer, to lend money on unencumbered real
estate in amounts not beyond sixty per cent.
of its actual value. And the said corpora
tion shall have power and authority to have,
use and keep common seal, and the same
to alter at will, to sue aud be sued, to plead
and be impleaded in any Court of law or
equity in this State, and to have and enjoy
all and every right, privilege, power and
franchise incident and belonging to incor-
porated bodies; and shall be capable of
taking, holding and disposing of their cnpi-
tai stock according to such rules and regula-
tions as they shall from time to time estab-
llsh; and also taking, holding dividing,
dlsposing OF or investing the increase, pro-
fits or emoluments of their said caDital
stock; and shall have the right and power
to acquire, purchase, take and hold. in their
corporate name, lands and real estate, and
the same to demise, grant, sell, assign, ex-
change and convey, in fec simple, or other
wise. And the said corporation shall have
authority to establish branch offices at such
other points in the State rs they may elect
SEC. 3. The business and property Of
such corporation shall be managed and con
trolled, and the President, Cashier, Di-
rectors, and all other officers of the Bank
appointed by the stockholders, and the said
stockholders shall have power and authority
to make rules and bylaws, not repugnant
to the laws of the land, and to modify and
amend such rules and bylaws Mt pleasure
Regular meetings Of the stockholders shall
be held on the first Tuesdays of January,
April, July and October, in each year, at 10
o'clock A. NJ, at the Office of such corpora
tion, in the city of Columbia; and special
meetings shall be held whenever called for
by the holders of at least one. quarter of the
shares of the capital stock: Prooided, That
Il notice, signed by the stockholder or
stockholders calling said meeting, be alver-
tised in newspaper, published in the city
of Columbia, at least one week prior to tho
time of snch proposed meeting; or pro-
vided that written notice shall be given to
all the stockholders at least three days be-
fore snch proposed meeting. A representa-
ton OF II majority of the entire stock by the
holders, or their proxies, shall be requisite
to constitute quorum at any and all meet
ings of the stockholders; and Mt all such
meetings, each share shall entitle its holder
to one vote. Absent stockholders may vote
by agents or proxies, producing proper
written authority therefor. The said stock
holders shall, at the first meeting when a
quorum is present, elect twelve Directors,
and such other officers as they may deem
necessary, they to hold office for twelve
months, unless removed in the meantime,
or their successors appointed by said stock
holders
SEC. 4. The said corporators shall have full
power to enforce upon their members the
due observances Of all rules and bylaws for
the good government and management of
the affairs of the said corporation, and for
the increase of the capital stock of the
same, under such penalties as in and by the
said rules and bylaws shall be limited and
| anDOin nj ed. anl To this and if xnol la