to take bonds for said corporation from any or all of
the officers, agents or servants, by them so appointed,
with security conditioned in such form as they shall
approve, for the faithful execution of the duties of
their respective offices, to secure said corporation from
loss; to regulate the manner of making and receiv-
ing deposits, to invest the funds of said corporation,
and generally to do any such other acts, touching the
same, as they shall deem most safe and beneficial;
and to pass all such by-laws as may be necessary for
the exercise of the aforesaid powers, or the powers
vested in said corporation, and the same by-laws from
time to time, to repeal and alter, provided, that all
such by-laws may be altered or repealed by a majority
of the stockholders assembled at any annual meeting,
or at any general meeting called in pursuance of any
by-laws made for that purpose, and a majority of the
stockholders present at any general or annual meeting
may pass by-laws which shall be binding on the
directors; provided, also, that such by-laws shall not
be contrary to any law of tills State or of the United
States.
SEC. 6. And be it enacted, That the said corporation
shall be capable of receiving, from time to time, any
deposit or deposits of money, the savings of persons
who may desire to make such deposits, under such
regulations as the directors or stockholders shall pro-
vide, by the by-laws of said corporation, to invest all
such monies, so received, in public stocks or other
securities, at the discretion of the directors, and in
manner as they deem most safe and beneficial; and
pay such interest on such deposits as the directors
may deem expedient.
SEC. 7. And he it enacted, That half-yearly dividends
shall be made to the stockholders of so much of the
net profits of the corporation as shall appear to the
President and Directors advisable, and such divi-
dends shall be declared in the months of March and
September, and shall be payable on the second Mon-
day of the ensuing month; and if the Directors shall,
at any time, wilfully and knowingly make or declare
any dividends which shall impair the capital stock,
all the Directors present at the making or declaring
|
Take bonds.
Regulate
deposits.
To alter by-
laws.
Proviso.
Proviso.
Deposits.
Investments.
Dividends.
When
payable.
Not to impair
capital stock.
|
