The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1884-07-16

'N NuVNViN w NN N'lN" NNNNN'
The number of shares into which
the capital stock is divided,
The names and places Of resi-
dcncc ot the meorporators and the
number OF shares held by each vt
them,
The term of years during which
the corporation shall exist,
The names and places of resi-
dcucc of the directors who are APP
pointed for the first year
Section 3, Such corporation shall
in addition to the powers conferred
upon bodies corporate by the pro-
visions of Chapter NNNl of the
Civil Code of this Kingdom have the
following additional powers subject
| to the provisions of this Act, II may
exercise subject to law such incidcn.
tai powers rs shall he necessary to
carry on the business of banking 10y
discounting and negotiating pro-
misSory notes, drafts, bills of on
change, and other evidences of debt
by receiving deposits by buying
and selling exchange coin and hull
ion by looning money and by OBJ
tanning issuing and circulating notes
according to the provisions of this
Act II may purchase, hold and
convey real estate such IA shall
he necessary forils immediate ac-
Commodation in the transaction of
its business such as shall he mort
gagged TO il in good faith by way Of
security such as shall he conveyed
TO ii IN satisfaction of debts pre-
Viously contracted such rs IL shall
purchase NJ sales under judgments,
decrees or mortgages held by the
association or shall purchase TO
secure debts due IL, But no such
corporation shall hold the possession
of any real estate under mortgage
or the title and possession of any
real estate purchased to secure any
debts due 10 IL for y longer period
then ten years. IL may purchase,
hold and convey in the regular
course Of It's banking business every
kind of personal property, chattcls,
wares, merchandise, franchises, pa
tents, easements and incorporeal
rights and in every way deal with the
same in such manner as the interest
Of the corporation may require.
Section 4. No charter shall be
granted under this Act to any com"
pany whose capital stock is less than
five hundred thousand dollars.
Section D. No change shall be
made in the Articles Of incorporation
by which the rights remedies or
security Of the existing creditors Of
the corporation shall be impaired.
Section 6. At least thirty per
centum Of the capital stock Of every
such corporation shall be paid in be-
fore IL shall be authorized TO com
incnce business, and il through any
cause such paid in stock shall be
diminished the corporation shall with
IN thirty days increase the same TO tho
amount required IN this section and
in default thereof shall he closed and
its business wound up by receiver
by process Of law.
Section 7. Whenever any share.
holder or his assignee shall fail tc
pay any installment Of the capita
: stock required TO be paid in by tho
d directors, the directors may sell tlI'
stock Of such delinquent sbarcholdci
? NJ public sale after notice Of sucl
} sale has been given by publication
thereof in n newspaper published il
the city Of Honolulu and the excess
r II any received upon such sale afte
g dcducting the amount due thereon
r and the expense Of such sale shall b,
paid to such delinquent shareholders
. provided that II no bidder can b,
! found who will pay for such stocI
I the amount due thereon 10 the cor
r poratiOn, the amount therefore pai(
IN on such stock shall be forfeited u
= the corporation and such stock shal
D be sold rs the directors may ordc
u within six months from the time o
l such forfeiture and II not sold