tory upon the same, in the like manner, and with
the like force and effect, as upon any private person
or persons, if issued by him or them, in his, her or
their private or natural capacity or capacities, and
shall be assignable and negotiable in like manner as
if they were so issued by such private person or per-
sons, that is to say, those which shall be payable to
any person or persons, his, her or their order, shall
be assignable by endorsement, in like manner and
with the like effect, as foreign hills of exchange now
are, and those which are payable to bearer, shall be
negotiable or assignable by delivery only.
N. That the shares of capital stock of the corpora-
tion shall be transferable on the books of the cor-
poration only, according to such rules as shall be
established by the President and Directors, but all
debts actually due and payable to the corporation by
a stockholder requesting a transfer of shares, must
be satisfied before such a transfer shall be made, un-
less the President and Directors shall direct to the
contrary.
O. No loan shall be made by this corporation for
the use of or on account of this State, or the United
States, to an amount exceeding fifty thousand dol-
lars, or to any other State of this Union, or to any
foreign Prince or State, to any amount whatever,
without the previous consent of the Legislature; and
the capital stock and funds of the corporation shall
be deemed and taken to be personal and not real
estate.
P. That at all meetings of stockholders of this
corporation for elections and other purposes, no per-
son shall be allowed to vote on any share or shares
of the stock at such meetings, either in person or by
proxy, unless the said person shall, if required by a
stockholder, make oath before the judges of election
or other officers of the meeting, that lie or she, as
the case may be, is the lawful and bona fide owner of
said stock, having purchased and paid or secured
payment for the same, a full consideration, or re-
ceived the same by inheritance, bequest, marriage,
distribution or gift, and without any understanding
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Assignable,
and negotia-
ble,
Shares shall
be transfera-
ble.
Loans regu-
lated.
Shares, how
to be voted.
To vote must
be bona fide
owner
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