JAS. BLACK GROOME, ESQUIRE, GOVERNOR. 613

stock shall be transferred without the consent of a
majority of directors, while the holder thereof is
indebted to the bank.
SEC. 11. And be it enacted, That said bank shall not
take as security for any loan or discount, a lien upon
any part of its capital stock; and said bank shall not	Not take an security
be the holder or purchaser of any portion of its capital
stock, or the capital stock of any other incorporated
company, unless such purchase be necessary to pre-
vent loss upon a debt previously contracted, in good
faith, upon security which at the time was deemed
adequate to insure the payment of such debt, inde-
pendent of any lien upon such stock.
SEC. 12. And be it enacted, That half-yearly divi-
dends shall be made to the stockholders of so much	Half-yearly
of the net profits of the corporation as shall appear	dividends
to the president and directors advisable ; and such
dividends shall be declared in the months of June
and December, and shall be paid on and after the
second Monday of the ensuing month after they are
declared ; and if the directors shall at any time wil-
fully and knowingly make or declare any dividend
which shall impair the capital stock, all the directors
present at the making or declaring such dividend,
and consenting thereto, shall be liable in their indi-	Liability.
vidual capacities, to the corporation for the amount
or proportion of the said capital stock so divided by
the directors, and each director who shall be present
at the making or declaring of such dividend, shall
be deemed to have consented thereto, unless he shall
immediately enter his dissent in writing on the min-	Enter his
utes of the proceedings of the board, and give public	dissent
notice to the stockholders that such dividend has
been declared.
SEC. 13. And be it enacted. That once in each year
the directors shall lay before the stockholders, at the
general meeting, an exact and particular statement
of the amount of the capital stock, of the debt due	Annual stat'mt.
to and from the same, of the moneys deposited
therein, of the cash on hand, specifying the amount
of coin, and the assets of other banks, of the value
of public or other stock owned by the corporation,
of the amount of the losses, dividends and discounts ;	Publish stat'mt
and said bank shall publish said statement, verified