Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1912-10-21

STATE OF GEORGIA-County of Fulton.
To the Honorable the Secretary of the
State of Georgia:
The petition Of the Trust COMPANY Of
Georgia, banking corporation organized
and existing under the laws OF the state
OF Georgia and chartered by virtue OF a
special act of the general assembly Of the
state OF Georgia approved September 2ist
1881. as amended by an act Of the general
assembly OF the state OF Georgia APP
shows
That by virtue of the provisions of sec
tons 227l to 2274. both inclusive, OF the
Code OF Georgia OF 1910 said Trust com
pany of Georgia desires TO amend its spe-
clal charter BY Incorporating therein GER
tain provisions Of the General Banking
Act, to-wit:
Code OF 1910, as amended by act OF the
general assembly Of the state Of Georgia
approved August 18th, 1919, which section
as amended reads as follows
The business of the Corporation shall
be under the management and control OF
a Board of Directors 10 consist Of not less
members of the corporation, who must be
the owners and holders OF one or more
shares Of the cal ital stock in good faith.
The Board OF Directors shall exercise only
such powers as may be legally delegated
10 them by the stockholders or by the
bylaws adopted by the stockholders. The
Board Of Directors shall be elected by the
stockholders at such time and place and
for such term as may be appointed by the
bylaws
And that 1t shall be within the right
and power Of the stockholders of said
Company TO fix the number OF directors
from time to time within the minimum
and maximum numbers named In said
enactment so proposed to be incorporated
as an amendment to the charter OF said
Company
2 The provisions OF section 1858 of the
Code of 1910. which section reads as fol-
lows:
The board Of directors shall have
power TO prescribe how, and in what
sums. and al what times and places any
unpaid part of the capital shall be paid
in; and in the event any stockhol shall
fail or make default for sixty days to
pay any call regularly made in his sub
ription to stock the directors may di-
rect suit 10 be brought against him forth
with for the amount Of such call or may
in their discretion. after thirty days no.
ice to such stoGkholder cause his stock
after proper public advertisement for thir-
~ days, to be put up and sold at auction
to the highest bidder and any deficiency
in this sum thus received, necessary TO
make the amount of the call, shall be
made good by the delinquent. Any sur
plus over the amount OF the call and the
expenses OF the sale shall be paid to him.
new certificate of stock shall be issued
to the purchaser, and he shall stand in
the same relation to the company as the
delinquent would have done had he not
so made default. The sale shall be al
the court house door in the county where
said company is located. The capital stock
of the corpora ton may be increased to
such amount as may be desired by the
stockholders. or II may be decreased 10 a
sum not less than twenty five thousa nd
dollars. a meeting OF the stockholders
called for the special purpose by order OF
the board OF directors, of which notice
has been given each stakeholder cor, in
case OF death, to his legal representatives
or heirs at law. personally or by mail,
a least thirty days previous to said spe-
cial meeting, and such increase or de-
crease shall be made in such manner as
shall be determined by the meeting Of
stockholders. II requiring the vote Of q
majority In amount Of the entire capital
stock to authorize such Increase or de
crease and the manner of effecting the
same II. such meeting, the stock
holders holding the ma iority in amount
OF the capital stock vote for such in
crease or decrease. the proceedings OF
and entered upon the books or minutes OF
the corporation, and copy thereof veri-
fled by the president or cashier, shall be
fled and recorded In the office of tho sec
recorded shall become an amendment TO
said charter. and a certified copy thereof
shau De evidence OF all facts therein con
tanned in all courts Of this state. without
further proof
That there accompanies this declara-
ton, attached thereto as Exhibit L."
copy Of the resolutions OF the board OF
directors OF the Trust Company Of Geor-
gia authorizing this application TO be
made. certified 10 be such by the sec
rotary thereof under the seal OF the com
pany. together with statement contained
in the certificate of said secretary speci-
tying the date OF the charter OF said com
pany, together with the date OF an amend
ment thereto.
WHEREFORE. il prays that this decla-
ration or petition be filed provided by
law and that after a due compliance with
the provisions of the law in such cases
made and provided the charter Of the
Trust Company Of Georgia be amended
so as to incorporate therein the provisions
of the General Banking Law herenbefore
specified
WITNESS the signature Of the presi-
dent and the corporate
seal OF said corpora ton
CSeaD this the 10th day Of Oc-
tober. 1912.
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