The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1872-03-13

AN ACT to Charter the State Savings and Insur-
auce Bank of Anderson, South Carolina.
SECTION /. Be it enacted by the Senate and
House of Representatives of the State OF
South Carolina, now met and sitting In Gene
raj Assembly, and by the authority Of the
same:
That James L. Orr, Jessey W. Norris, O. 81.
P. FAINT, D. NJ Watson, VIM. Perry, Jacob
Burrlss, W. s. Sharpe, B. F. Crayton, John
Martin, John B. Cochran, John B. sitton, F. E.
Harrison, W. B. Watson, Sr., B. D. Dean, John
Wilson and J. W. Harrison, together with
such persons as are now or may hereafter be
assocIatedwith them, shall be, and they are
hereby, constituted and made body polite
and corporate by the name and style of "The
State Savings and Insurance Bank OF Ander-
son, South Carolina" and by that name and
style, shallbe, and is hereby made capable, In
law, to have, purchase, enjoy aud retain to 1t
and Its successors, lands, rents, tenements,
goods, chattels and effects, Of whatever kind
or quality soever, and the same to sell, allen
or dispose Of, to sue and be sued, plead and be
impleaded, answer and be answered, defend
and be defended, In courts of record or any
other place whatsoever, and have perpetual
succession, to have and exercise the rights
and privileges of other corporations now exist
ing, or that may hereafter be enacted, and also
to make, have and use common seal, and
the same to break, alter and renew at their
pleasure, and also to ordaln and put In e1ecu.
ton such bylaws and regulations as may seem
necessary and convenient for the government
OF the said corporation.
SEC. 2. That the capital stock OF said corpo-
ration shall DO twenty-five thousand dollars,
to be divided into shares OF one hundred dol.
lars each, and may be increased, from time to
time, to sum not exceeding FIVE hundred
thousand dollars, as may be deemed necessary
BY the board of directors.
SEC. 8. The persons named in the first section
ofthls act shall be the directors of this company
until others are appointed by the stockhold-
ers, and they may, as soon as proper, appoint
a president from among their number, OF
from among others who may hereafter be as
ISOLATED with them, and the said president
shall continue Ia Office for the period OF one
year from the day OF his election, or until his
successor is appointed, and In case Of va
cancy in the Office of president or director,
from any cause, the remaining directors may
elect others to supply their places until q
meeting of the stockholders shall be held.
There shall oe five or more directors. who,
with the president, shall manage the affairs oi
the company. Three of said directors shall
constitute quorum for any and all business
purposes Of said company. The meetings Of
the stockholders shall be held In the principal
Office of the corporation, which shall be desig-
mated by the board OF directors.
SEQ 4. The president and directors shall ar-
point such clerks and other officers as they
may find necessary, properly to conduct the
business of said company, and allow them
suitable compensation, all of which clerks
and officers shall hold their places during the
pleasure of said president and directors.
Sec. s. The president and directors shall
have power to appoint agents In any part q
the State or elsewhere, and at their discretion
may take from them bonds, with security, con.
ditloned for the faithful performance of the!I
duties; such agents being removable at the
pleasure of the president, subject to the ap'
proval of the board of directors, or by the
board OF directors.
SEC. 6. The mode of voting at the meetings
of said company, shall be one vote for eact
share of stock, and every stockholder may, al
pleasure, by power OF attorney, or In person
assign or transfer his stock In the company
on The books of the same, or any part thereof
not being less than whole share.
SEC. 7. That the first annual meeting Of tht
stockholders of said company shall be on th'