Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1872-04-11
Approved March 8, 1872.

anu uScitiCu - PuoiiN 4AS'3 ~
given in evidence, without being specl-
ally pleaded.
Approved March 8, 1872
AN ACT to Charter the Union Sac
ings Bank Of Georgetoao'', S. c.
SECTION 1. Be 1t enacted by the
Senate and House of Representatives
of the State of South Carolina, now
met and sitting in General Assembly.
and by the authority Of the same ::
That James A. Bowley, w. H. Jones,
Jr., Thomas D. Mcdowell, S. c. Carr
and James Murrell: together with such
other persons as are now, or may here
after be, associated with them, shall be,
and they are hereby constituted and
made body polite and corporate, by
the name and style of the Union Saw.
ings Bank, of Georgetown, South Car
olina," and by this name and style shall
be, aud is hereby, made capable in law
to have, purchase, enjoy and retain, to
it and it's successors, lands, rents, tene-
ments, goods, chattels and effects of
what kind or quality scever, aud the
same to sell, alien or dispose Of; to sue
and be sued, plead and be impleaded;
answer and be answered, defend and
be defended, in courts OF record, orany
other place whatsoever; and also, to
make, use and have Il common seal,
and the same to after and renew at
their pleasure; and also to ordain and
put in execution such bylaws and reg,
ulations as may seem necessary and
convenient for the government OF the
said corporation, not being contrary 10
the laws of the State or the Consfftu-
ton thereof.
SEC. 2. The capital sloc': Of said cor
poration s. ali rot tc less than ten thou
sand do!!ars, which may hc increased,
from time to time, to a sum not eX,
cceding ,ao hundred thousand dollars,
and shall he paid in aiil accumulated as
hereinafter provided.
SEC. Is. That said corporation shall
have power and authority to invest lis
capital stock or other fluids III bank ur
other stocks, in The purchase oi bonds
of the United States, bonds issued by
this or any State Of the United States
and in bonds OF any corporate coinpa
ny: to lend money upon personsi OIL
real security, to Discount bonds, notes
and bills of exchange, and to guarantees
the payment of notes., bonds, bills O
exchange, or other evidences oi debt.
SEC. 4. That said, corporation shal
receive deposits from any person o
persons, and all such deposits shall b,
invested as The Board Of Directors ma,
deem most advantageous, and III nc
cordancc with Section 5. and inicrcs
shall be allowed t. the dcposltors there
of as may be directed OF provided To-
by the bylaws Of the institution.
SEC. 8. Each subscriber to stock il
this Bank shall, on or before the tittl
day Of each month, pay, ut the offc
Of the Bank. one dollar per share G
his or hor subscription, and any suu
scriber failing to Go 50 shall be-fine'
five cents per share for such delinquen
cy, and for each succeeding ten days" "
such delinquency, ten cents per. .shar
additional and if, at the expiration
two mon hs, such delinquency shal
still exist, the stock shall be sold a
public auction, the proceeds OF whlcl
Shall be paid to such delinquent stock
holder, after deducing all fines tina
may be charged against him: or th
proportion of all losses sustained, ant
expenses incurred by the institution, il
the course of its business.
Sac. 6. As soon as the stock be
homes OF. the value of enc hnldre'
dollars per share, scrip shall be issue
10 each stockho!der for the number {
shares standing in his or her name o
,he books of the institution, signed b