Source: http://mdh.contentdm.oclc.org/cdm/ref/collection/molaws/id/44554/
Timestamp: 2020-05-28 02:44:09
Document Index: 37145316

Matched Legal Cases: ['§ 19', '§ 20', '§ 21', '§ 22', '§ 23', '§ 24', '§ 25', '§ 26', '§ 27', '§ 28', '§ 19', '§ 20', '§ 21', '§ 22', '§ 23', '§ 24', '§ 25', '§ 26', '§ 27', '§ 28']

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18 BANK.
aforesaid, as if he had made such examination in person, and all expenses of
the Governor or person making such examination shall be paid by the bank:
Provided, If the whole of the stock set apart for private stockholders as aforesaid, be not subscribed for within the time herein before specified, then no
portion of the same not taken, shall be required to be paid in as capital stock
before said bank commences her issues and discounts as aforesaid.
§ 19. The president and directors of said bank shall have power to commence on or before the first day of June next, and do business in the buying
and selling and otherwise dealing in bills of exchange, checks and drafts,
upon either the public or private deposits, or any other funds which may for
the time being, be in the possession or under the control of said bank; arid
the said president and directors may, on or before the time last aforesaid,
commence doing such discount business on the funds in the possession, or
under the control of said bank as aforesaid, as may be consistent with the interest, and well being of said bank.
§ 20. Stockholders shall have one vote for each share owned by them;
but no director shall vote as proxy for any stockholder.
§ 21. All directors mustbe citizens of Missouri, and none but stockholders
shall be eligible as a director, except as a director on the part of the State, and
nodirector in any other bank, or the partner in trade of such director, nortwo
persons trading in partnership at the same time, shall be eligible as directors.
§ 22. No director shall receive any emolument,'but the directors may
allow a reasonable compensation to the president for his services.
§ 23. Not less than five directors shall constitute a board for the transaction of business, of whom the president shall always be one, except that in
the case of necessary absence, a president pro tempore may be appointed by
the directors present.
§ 24. A general meeting of the stockholders may be called by any ten
stockholders, representing at least five hundred shares, or by a majority of
the directors, by giving six weeks notice in not less than two newspapers of
ceneral circulation, specifying the object or objects of such meeting.
§ 25. The cashier of said bank shall execute his obligation to the bank
with good security, conditioned for the faithful performance of his duty as
cashier, with such covenants, and in such penalty as the president and directors shall deem proper. Said president and directors shall have full power
to require like bond and security, with like conditions and covenants, from
any of the officers or agents.
§ 26. The bank may only hold such real estate as shall be requisite for
its immediate accommodation for the transaction of its business, and such as
shall have been bona fide mortgaged to it by the way of security, or convey-
. ed to said bank in satisfaction of debts previously contracted in thefcourse of
ordinary banking business, or purchased at sales upon judgments ordecrees,
which shall have been obtained for such debts.
§ 27. The stock of said bank shall be assignable and transferable according
to such rules and ordinances as shall be prescribed by the president and direc-
t ors; and any stockholder who shall transfer all his stock in said bank, to any
o ther person, shall immediately cease to be a member of said company, and any
person who shall accept a transfer of any share or stock in said bank, shall
thereupon become a member of said corporation, agreeably to this act.
§ 28. All bills, bonds, notes, and every contract or agreement on behalf
of the company, shall be signed by the president, countersigned and attested
by the cashier; and the funds of the company shall, in no wise, be held responsible for any contract or engagement whatever, unless the same shall
be executed as aforesaid.
Identifier LAWS_9th_1836-1838_0018.tif
Transcript 18 BANK. aforesaid, as if he had made such examination in person, and all expenses of the Governor or person making such examination shall be paid by the bank: Provided, If the whole of the stock set apart for private stockholders as aforesaid, be not subscribed for within the time herein before specified, then no portion of the same not taken, shall be required to be paid in as capital stock before said bank commences her issues and discounts as aforesaid. § 19. The president and directors of said bank shall have power to commence on or before the first day of June next, and do business in the buying and selling and otherwise dealing in bills of exchange, checks and drafts, upon either the public or private deposits, or any other funds which may for the time being, be in the possession or under the control of said bank; arid the said president and directors may, on or before the time last aforesaid, commence doing such discount business on the funds in the possession, or under the control of said bank as aforesaid, as may be consistent with the interest, and well being of said bank. § 20. Stockholders shall have one vote for each share owned by them; but no director shall vote as proxy for any stockholder. § 21. All directors mustbe citizens of Missouri, and none but stockholders shall be eligible as a director, except as a director on the part of the State, and nodirector in any other bank, or the partner in trade of such director, nortwo persons trading in partnership at the same time, shall be eligible as directors. § 22. No director shall receive any emolument,'but the directors may allow a reasonable compensation to the president for his services. § 23. Not less than five directors shall constitute a board for the transaction of business, of whom the president shall always be one, except that in the case of necessary absence, a president pro tempore may be appointed by the directors present. § 24. A general meeting of the stockholders may be called by any ten stockholders, representing at least five hundred shares, or by a majority of the directors, by giving six weeks notice in not less than two newspapers of ceneral circulation, specifying the object or objects of such meeting. § 25. The cashier of said bank shall execute his obligation to the bank with good security, conditioned for the faithful performance of his duty as cashier, with such covenants, and in such penalty as the president and directors shall deem proper. Said president and directors shall have full power to require like bond and security, with like conditions and covenants, from any of the officers or agents. § 26. The bank may only hold such real estate as shall be requisite for its immediate accommodation for the transaction of its business, and such as shall have been bona fide mortgaged to it by the way of security, or convey- . ed to said bank in satisfaction of debts previously contracted in thefcourse of ordinary banking business, or purchased at sales upon judgments ordecrees, which shall have been obtained for such debts. § 27. The stock of said bank shall be assignable and transferable according to such rules and ordinances as shall be prescribed by the president and direc- t ors; and any stockholder who shall transfer all his stock in said bank, to any o ther person, shall immediately cease to be a member of said company, and any person who shall accept a transfer of any share or stock in said bank, shall thereupon become a member of said corporation, agreeably to this act. § 28. All bills, bonds, notes, and every contract or agreement on behalf of the company, shall be signed by the president, countersigned and attested by the cashier; and the funds of the company shall, in no wise, be held responsible for any contract or engagement whatever, unless the same shall be executed as aforesaid.