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LEVIN WINDER, ESQUIRE, GOVERNOR.
to be as completely binding on the drawer and endorsers as if notice
had been personally served on each of them.
By 1817, ch. 68, notes and bills which
are not made on the face thereof negotiable
at the bank, or payable at some house in Denton, may be discounted. |
DEC. 1813.
CHAP. 81. |
22. AND BE IT ENACTED, That any director,
officer, or other
person, holding any share or capital of the said bank stock, who shall
commit any fraud or embezzlement touching the money or property
of the bank, shall be liable to be prosecuted in the name of the state,
by indictment for the same in any court of law in this state, and
upon conviction thereof shall, besides the remedy that may be had
by action in the name of the president and directors of the Bank of
Caroline, for the fraud aforesaid, forfeit all his share or stock in
the said bank to the company. |
Any person guilty
of fraud, &c. may
be prosecuted. |
23. AND BE IT ENACTED, That all persons who
shall become
subscribers to the said bank, their successors and assigns, shall be
and are hereby made a corporation and body politic, by the name
and style of The President and Directors of the Bank of Caroline,
and by that name shall be and are hereby made able and capable in
law to sue and be sued, plead and be impleaded, answer and be answered,
defend and be defended, in any court of record, or any
other place whatsoever, and also to make, have and use, a common
seal, and the same to break, alter and renew, at pleasure, and to
make, issue and negotiate notes, and generally to do and execute
all such acts, matters and things, as to them shall appertain under
the clauses of this act; Provided, that it shall not be lawful for
said bank to issue notes of a less denomination than five dollars. |
Stockholders incorporated
—powers
and privileges.
Proviso. |
24. AND BE IT ENACTED, That the following
rules and provisions
shall form and be fundamental articles of the constitution of
the said corporation. |
Fundamental articles. |
1. That the capital stock of the Bank of Caroline
shall be managed
by the directors for the benefit of the stockholders. |
Capital to be managed
for benefit
of stockholders. |
2. No director of any other bank shall be
a director in this bank,
nor shall any two persons, copartners in any kind of business, be
directors in this institution at the same time; two at least of the
directors
elected by the stockholders shall go out annually. |
No director of any
other bank to be a
director in this
bank. |
3. The president and directors for the time
being shall give one
months notice in the most public places in the county, and in one
or more of the public prints in the town of Easton, of the time and
place of holding the election of directors annually. |
Notice to be given
of election of directors. |
4. The total amount of the debts which the
said corporation shall
at any time owe, whether by bond, bill, note, or other contract,
shall not exceed double the amount of the capital actually paid into
the said bank, provided that the money deposited in the said bank
for safe keeping, shall not be considered as the debts of the bank
within the provision of this clause, unless the contracting of any
greater debts shall have been previously authorised by a law of the
state. In case of excess, the directors under whose administration
it shall happen, shall be liable for the same in their natural and
private capacities, and an action of debt may in such case be
brought against them, or any of them, or their heirs, executors or
administrators, in any court of record in this state, by any creditor
or creditors of the said corporation, and may be prosecuted to
judgment and execution, any condition, covenant or agreement, to
the contrary notwithstanding; but nothing herein contained shall |
Amount of debts
not to exceed double
the amount of
capital paid in.
Excess. |
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