Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1912-10-26

9: W. MANGUM, Sheriff.
STATE OF GEORGIA-County Of Fulton.
To the Honorable the Secretary of the
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 21st,
1891, as amended by an act of the general
assembly OF the state Of Georgia APP
proved November 18th, 1898, respectfully
shows
That by virtue of the provisions of sec
tons 2271 to 2274. both inclusive, of the
Code OF Georgia of 1910, said Trust com
pany of Georgia desires to amend it's spe-
clal charter by incorporating therein GER
tain provisions OF the General Banking
Act, to-wit:
L. The provisions of section 1857 of the
Code Of 1910, as amended by act of tho
general assembly of the state of Georgia
approved August 18th, 1912. which section
as amended reads as follows:
The business Of the Corporation shall
be under the management and control OF
a Board of Directors to consist of not less
than three nor more than twenty-five
members Of the corporation, who must be
the owners and holders of one or more
shares of the capital stock in good faith.
The Board of Directors shall exercise only
such powers as may be legally delegated
to 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
bylaws"
And that it 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 fncorpora ted
as an amendment to the charter Of said
Company
2, The provisions of section 1868 of the
Code of 1910, which section reads as fol-
lows:
1.-The board of directors. shall have
power to prescribe how, and in what
sums, and at what times and places any
unpaid part of the capital shall be paid
in: and In the event any stakeholder shall
fail or make default for sixty days to
pay any call regularly made in his sub
rect suit to be brought against him forth
with for the amount of such call, or may
In their discretion, after thirty days no.
tice to such stockholder,. cause his stock,
after proper public advertisement for thir-
ty days, to be put up and sold at auction
to the highest bidder, and any deficiency
in this sum thus received, necessary 20
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 az the
delinquent would have done had he not
SO made default The sale shall be at
said company is located The capital stock
of the corporation may be increased to
such amount as may be desired by the
stockholders, or it may be decreased to
sum not less than twenty-five thousand
dollars, at 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 representa- ives
or heirs at law personally or by mail,
addressed to his last known residence,
a Lea at thirty IN sal
cial meeting. and such increase or de-
crease. shall be made in such manner as
shall be determined by the meeting OF
stockholders it requiring the vote of a
majority in amount of the entire capital
stock to authorize such increase or de-
crease, and the manner of effecting the
same. II, at such meeting. the stock
holders holding the majority in amount
of the capital stock vote for such in
crease or decrease, the proceedings OF
the meeting must be reduced to writing
and entered upon the books or minutes Of
the corporation, and copy thereof, veri-
fed by the president or cashier, shall be
filed and recorded In the office of the sec:
rotary of state, and when so filed and
recorded shall become an amendment to
said charter, and "a certified copy thereof
shall be 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." a
copy OF the resolutions of the board OF
directors of the Trust Company of Geor-
gia, authorizing this application to be
made, certified to 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-
flying the date of the charter Of said com
pany, together with the date Of an amend
ment thereto
WHEREFORE. it prays that this decla-
ration or petition be fled as 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
~ the General Ranking Law harein hnfnr.