JAS. BLACK GROOME, ESQUIRE, GOVERNOR. 813

the order and direction of any judge or any court or
tribunal; may make such special regulations in
reference to trust funds, deposits or savings left for	Powers
safe keeping, as shall best aid the parties interested,
allowing and receiving such interest therefor as
may be agreed on ; may purchase annuities, real
estate, and issue letters of credit, and other com-
mercial obligations; provided, the said corporation
shall not be authorized to make any bills or notes in
the nature or description of bank notes.
SEC. 4. And be it enacted, That the affairs of this
bank shall be managed by a board of directors, of at
least five persons, who shall be elected from the	Management.
stockholders; their election shall take place when
thirty thousand dollars of the capital stock has been
subscribed for; and any three of the corporators
herein named shall be commissioners to open the
books for subscription at any time; the directors
shall elect a president from their own body annually ;
they shall make such by-laws, rules and regulations
as may be necessary for the prosecution of. the busi-
ness of the bank; they shall call for the capital stock
to be paid in as they shall think proper, on due no-
tice to the stockholders, and on failure to make such	Failure to pay
payments, they shall collect the same by suit, or sale
of stock by public auction, after due notice, the pur-
chaser thereof taking the same as the directors may
determine ; the board of directors shall have power
to declare dividends on the stock of said corporation
at any time after the accumulation of profits of said
corporation shall exceed five per cent, on the amount
of capital actually paid in ; provided, said dividends
do not reduce their surplus of the bank below five
percent, on the amount of capital actually paid in.
SEC. 5. And be it enacted, That the election oi
directors of this bank shall be held annually at the	Election of directors.
bank, and the board shall give at least ten days'
notice thereof to the stockholders; every election
shall be by ballot,and the plurality of votes shall elect;
every stockholder shall be entitled to one vote for
every share of the capital stock standing in his of
her name on the books of the bank, and may vote
in person or by proxy ; any omission to elect directors
shall not impair the rights of the stockholders, de-
positors or others interested.