The Greenville enterprise. [volume] (Greenville, S.C.) 1870-1873, 1872-03-20
VOLUME .XVIII.-NO. 46
AN ACT TO CHARTER THg STATE
SAVINGS AND INSURANCE BANK
OF ANDERSON SOITTu CAporYN.

or ANDERSON. SOUTH CAROLINA.
Section 1. Be IL IL enacted by the Senate
and House Of Representatives Of the S,sts
OF South Carolina, now met and sitting in
General Assembly. and by the authority of
the same: That James L Orr, Jessey w.
Norris. o. II. p. Fsut, n. NJ. Watson. VIM.
Perry, Jacob Burriss, W. s. Sharpe, b F.
Crayton, John Martin. John r, Cochran.
John B. Sitton. F. E. Harrison. w. r.
Watson. Sr., B. ID. Dean John Wilson and
). W. Harrison, together with such per,
sons rs are now or may hereafter be as-
"oc'a'ed with them, shall be, and they are
hereby. constituted and made BODY mol.
Tito and corporate. by the name and STYLE
OF "The State Savings and Insurance Bank
OF Anderson. South Carolina" aud by that
name and style, shall be, and is hereby
made capable, In law, to have, purchase.
enjoy and retain to it and its successors
lands, rents, tenements. goods, chatteIs and
effects. OF whatever kind or quality soev.
er, and the came to sell, alien or DISPOSE
~ 10 sue and be sued. plead and be i'm
pleaded, answer and be answered, defend
an" be defended, In Courts Of Record or any
other place whatsoever, and have perpetu-
al succession. TO have and exercise the
rights and privileges of other corporations
now existing. or that may hereafter be en-
acted, and also TO make, have and use. a
common seal, and the snme 10 break, alter
and renew at their pleasure, and also to
ordsin and put in execution such by laws
and regulations as may seem pecessary and
con, enient for the government OF the said
corporation.
Sec. 2 That the capital stock of said cor.
Poration shall be twenty-five thousand dol
lars, TO be divid'ded into shares Of one hun.
dred dollars each, and may be increased.
from time to time. to a sum not exceeding
i've hundred thousand dollars, as may be
deemed necessary by the Board of Direc.
tors.
Sec. The rersons named iu ahe Section
OF this Act shall be the Directors Of this
Company Until others are appointed by the
stockholders. and they may, as soon as pro-
per. appoint President from among their
number; or from among Others who NAV
hereafter he associated with them, and the
said President shall continue in office for
the period Of one year, from the day of his
election, "r until his successor i. appointed:
In case OF vacancy In the office of Presi-
dent or Director, from any cause, the re-
mni"ing Directors may elect others 20 sup
ply their places until meeting of the stock
holders shall be held. There shall be five
or more Directors, who, with the President
shall manage the affairs of the Comranv
Three OF said Directors shall constitute a
quorum tor any and all business purposes
Of said Company. The meetings Of the
stockholders shall be he'd in the principal
office OF the corporation. which shall be
designated by the Board Of Directors.
Sec. 4. The President and Directors shall
appoint such clerks and other offic as
they may find necessary, properly to con-
duct The business of said Company, and al
low them suitable compensatinn. all of
which clerks and officers shall hold their
places during The pleasure Of said President
aud Directors.
See. 8. The President and Directors shall
have power TO appoint agents in any part
OF the State or elsewhere. and at their dis
cre'ion may take from them bonds. with
security. conditioned for the f.ithful per-
formance Of their duties such agents be.
ing removable at the pleasure Of the Pres-
dent, subj-ct TO the approval of the Board
OF Directors.
Sec &. The mode OF voting at the meet.
ings OF said Company. shall be one vote for
each share OF stock, and every stockholder
may. at pleasure. by power of attorney. or
in person. assign or transfer his stock in the
company, on the books Of the same, or aov
part thereof, not being less than q whole
share.
Sec. Z. The first annual meeting of the
stockholders of said Company, shall be on
the first Tuesday Of June. 1872, and there
alter on the same day of each yea.: Proyi-
ded. The said stockholders, at any regular
meeting. or O Board of Directors, NAV. at
any time, change the day Of said annual
meeting; and the President and Directors.
may. at any time. call a general meeting Of
the stockholders, and any numher Of g. ock.
holders, owning not less than one-third of
The whole number Of shares, may require
the President to call such meeting, and on
his refusal t. do so, may themselves call
such meeting, in such case, giving at least
ten days notice. by publication 10 one or
NOR" newspapers published in the city of
Columbia.
See. 8. The members of the Compapv
shall not be liable for any loss. damage or
responsibility. other than the property they
havs in the capital and funds Of the Com.
pany. 10 the amount Of shares held by them.
respectively, and any profits arising there
from not divided.
Sec. 8. That said corporation shall have
power and authority 10 invest its capi,al
stock Or other funds. in bank or other stocks.
In the purchase OF bonds of the United
S'ates bonds issued by this or any other
State of the United States. and in bonds of
any incorporated company, to lend money,
upun Dersonal M raal a.nn.;,r