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Proceedings and Acts of the General Assembly, March 30, 1868
Volume 142, Page 2529   View pdf image (33K)
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THOMAS SWANN, ESQUIRE, GOVERNOR. 191

the person so becoming a member shall, so long
as his amount of deposit shall remain with the
corporation, be entitled to all the rights and privi-
leges belonging to, a member of said corporation
under the provisions of this Act, and under any
by-laws of said corporation, and the regular
weekly deposits of any member of said corporation
shall in no case exceed the sum of five dollars for
any one week, and the whole amount of such de-
posits of any such member shall in no instance

 

exceed the sum of two thousand dollars; and it
is hereby provided that nothing in this Act conr
tained shall be so construed as to confer authority
on the Directors or stockholders, by any rule or
by-law, to restrict or limit the number of weekly
depositor's who may desire to deposit or become
members of said corporation ; provided however,
that the amount paid in by each depositor be not
less than one dollar per week, and that they in all
things comply with the provisions of this Act, and
the rules and by-laws which may from time to
time be adopted.

Proviso.

Sec. 5. And be it enacted. That the said corpo-
ration shall be capable to receive from any white
person or persons any deposit or deposits of money,
and to use all money so received in -discounting
notes, &c., or to invest the same in public stock
or other securities at the discretion of the Directors,
according to the by-laws, and in such manner as
they deem most safe and beneficial ; provided, that
no President, Director or officer of said corpora-
tion shall borrow money from the same, but ordi-
nary dealings of the Institution in the sale and
purchase of bills of exchange, notes of hand, or
specie, shall not be considered borrowing within
the meaning of this Act.

Receive de-
posits.

Sec. 6. And be it enacted, That it shall be the
duty of the Directors, at least once in every six
months, to appoint from the members of the cor-
poration five competent persons to investigate the
affairs of the said corporation and to make a report
thereof, which report shall be recorded in a book
kept for that purpose, that shall be opened for
inspection at all times of any depositor or mem-
ber ; and it shall be the duty of the Directors
during the first week iu January and July, in each

Committee to
investigate.



 

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Proceedings and Acts of the General Assembly, March 30, 1868
Volume 142, Page 2529   View pdf image (33K)
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