|
|
cuting the business of the said corporation, and to al-
|
|
CHAP. 251
|
low them such compensation for their services respec-
|
|
|
tively, as shall be reasonable.
|
|
Power of the presi-
|
SEC. 9. And be it enacted, That the President and
|
|
dent and directors
|
Directors, for the time being, may make all such rules,
|
|
|
orders, by-laws and regulations for the government of
|
|
|
the said corporation, its officers and servants, as they
|
|
|
or a majority of them, from time to time, shall think
|
|
|
fit, not inconsistent with law or the provisions of this
|
|
|
act, and may at their pleasure, revise, alter and annul
|
|
|
the same, and they may use, employ and dispose of the
|
|
|
funds, money and credit of the said hank, as they or a
|
|
|
majority of them, may deem expedient, subject however
|
|
|
to the restrictions and limitations hereinafter men-
|
|
|
tioned.
|
|
Rules
|
SEC. 10. And be it enacted, That the following rules,
|
|
|
restrictions, limitations and provisions shall form and
|
|
|
be fundamental articles of the constitution of said
|
|
|
corporation, — viz:
|
|
Votes rated
|
ARTICLE 1. The number of votes to which each
|
|
|
stockholder shall be entitled, shall be according to
|
|
|
the number of shares he shall hold, in the proportions
|
|
|
following, that is to say: — For one share and not more
|
|
|
than two shares, one vote each; For every two scares
|
|
|
above two, and not exceeding ten, one vote; For every
|
|
|
four shares above ten, and not exceeding thirty, one
|
|
|
vote; For every six shares above thirty, and not ex-
|
|
|
ceeding sixty, one vote; For every eight shares above
|
|
|
sixty, and not exceeding one hundred, one vote; And
|
|
Restrictions
|
for every ten shares above that number, one vote; but
|
|
|
no person or body politic shall be entitled to a greater
|
|
|
number than sixty votes, and that no share or shares.
|
|
|
shall confer a right of suffrage which shall not have
|
|
|
been holden four calender months previous to. the day
|
|
|
of election; and that stockholders actually resident
|
|
|
within the United States, and none other, may vote at
|
|
|
elections by proxy or in general meetings.
|
|
Eligibility
|
ARTICLE 2. None but a stockholder shall be eligi-
|
|
|
ble as a Director, and once in each year the Directors
|
|
|
shall lay before the stockholders at a general meeting,
|
|
|
for their information, an exact and particular state-
|
|
|
ment of the debts which shall have remained unpaid
|
