Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1872-04-11

the President and Cashier, with the
corporate seal Of the Bank affixed, from
which time the payment of monthly
installments shall cease.
SEC. 7. Any stockholder. at any time
prior to the. stock becoming of the value
of one hundred dollars per share, May
withdraw from the institution, upon
written petice being given at any regu
lar meeting of the Board of Directors
and, at the expiration of ninety days
the institution shall pay to said stock
holder the ACTUAL value of his or her
stock at the date of notice Of With
drawal, the monthly installments Of
such stockholder ceasing from the date
of such notice. or said stockholder may
sell or transfer his or her interest to
any other person, the purchaser being
placed on an equality with the other
stockholders.
SEC. 8. By actual value Of the stock
is meant the amount paid in by each
stockholder, together with his or her
proportion of any losses that may have
occurred, and withholding his or her
proportion of any investments about
which tho Board of Directors may be
doubtful, until they are satisfied
SEc. 9. As soon after the stock be
comes of the value IF one hundred
dollars per share, and scrip is issued
therefor, the Directors may make dlvl-
dends, at such times and of so much OF
the profits of the Bank as shall appear
to them advisable.
SEC. 10. There shall be elected, as
soon after the ratification OF this Act
as the corporators and subscribers may
deem advisable, and annually thereat-
ter, seven Directors from their number,
who shall appoint one of their number
President, and may fill any vacancy
occurring in the Board, unless it be by
removal, in which case the members
shall fill the same in general meeting.
The Board shall appoint TO hold at its
pleasure) the subordinate officers and
agents, prescribe their duties and COM
ptnsa,ion, and take from them such
bonds, with security, as it may deem
advisable.
SEC. III. 1t shall be competent. at
any general meeting Of stockholders,
to change the time of holding The all
uual meetings; and extra meetings may
he called at any time upon written
application to the Beard Of Directors,
signed by Stockholders representing
not less than onr.i.a.f of the capital
stock and at all meetings Of stock
holders each share shall cntitie its hold
cr to ole vote, ard representation OF
y majority Of The entire stock, by The
holders in person, or by their proxies
shall be requisite To constitute a'quo-
rum.
SEC. IL. The said company is here
by declared capable in law OF holding
and exercising the Office of Executor,
by appointment of any tes'a'or; the
ciiice Of Administrator of the te tator
or intrstate, by appointment Of the
'nurt Of Probate the office Of Guar
,l;,r nr other trustee Of arv estate
which may be held in trust by arroint-
ment of any person or Court of COM
potent authority to make such appoint
ncnt, and the office of Trustee under
ANY mortgage; and in such case, the
said company, OF executor, admlnlstra
tor or trus.ee shall bc subject to the
same measure of accountability and to
the same rules and regulations of law
which pertain to such trusts when held
and exercised by natural persons, ex-
cept that, in lieu Of any bond to be re-
ouired of said company f"r the admin
is,ration of any trust. the capital stock
and other assets of the company shall
be pledged for the faithful NScharge u
amy trust. !.
Sec. l3. That the stockholders Of
said corporation shall be liable to the
amount of their respective share or
shares of stock in said corporation, for
ali It's debts and liabilities upon note,
bill or otherwise; and further, no Di-
rector or other officer of said corpora
ton, shall borrow any money from
said corporation, and if any Director,
or other officer shall be convicted, upon
Indictment, of directly or indirectly vi
olating this Section, he shall be pun.
ishcd by fine, or Imprisonment, at the
discretion of the Court. The books
and accounts of said corporation shall
be opened to inspection under such reg.
ulatiuns as may be prescribed by law.
SEC. IA. This Aos shall be deemed
a public Act, and shall be judiciafly
taken notice of without special plead
ing; and The charter hereby granted
shalI be in ttrcc from its passage, end
continue in force for q period Of thirty
years.
Approved March 8, 1872.
AN ACT 10 Rcnc,0 tic Ch41'tcT Of
Pcuy'S Ferry, orer tic. lFaterec
Rtrn'.
>.EcrIoN l. Be IL enacted by the
Senateand House OF Representatives. OF
the State OF South Carolina, now met
and sitting in General Assembly, and
by the authority of the same: :
That the charter Of the ferry over
Wateree River, known as Peays Fer
ly, be, and the same is hereby, re-
newe,l, and continued in force from
and after tile passage Of this act, un-
hi amended or repealed: and the