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CHAP. 341
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bank for one year, and upon said election, and on all
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other elections or occasions wherein a vote of the
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Votes
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stockholders is to be taken, each share shall be entitled
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to one vote, which may be given in person or by proxy,
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and the said commissioners, or any numberof them
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not less than three, shall be judges of said election.
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Commissioners to deliver plats &c
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SEC. 6. And be it enacted, That the said commissioners shall deposite the money, schedule and plats
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received from the subscribers to the capita! stock of
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said bank, in some place of safe keeping and deliver
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the same, to the president and directors of the said
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bank, or to their order as soon as shall be required
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Allowed charges
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after the organization of the bank: and the said com-
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missioners shall be allowed all reasonable charges and
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expenses incurred in the execution of their trust, to be
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paid by the president and directors of said bank out of
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the funds thereof.
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President
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SEC. 7. And be it enacted, That in order to perpetu-
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ate the said corporation, the persons who shall be elect-
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ed directors, or a majority of them, shall choose a
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president from amongst the stockholders, to serve for
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one year from the time of the election of the directors,
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Elect Directors
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and twelve directors shall be elected on the same day
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annually
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annually thereafter; and at their first meeting after
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Form of service
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their election in each year, the directors shall proceed
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to appoint a president from their own number; and the
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directors and president so elected and appointed, shall
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continue in their respective offices for one year, and
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Day immaterial
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until successors shall be chosen; and in case it should
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at any time happen that an appointment of a president,
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or an election of the said bank should not be made to
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as to take effect at any period or on any day, when in
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pursuance of this act the same should take effect, the
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corporation shall not for that cause be deemed to be
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dissolved, but it shall be lawful at any time within
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thirty days thereafter, to make such an ejection or ap-
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pointment in such manner as is provided by this act,
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or as shall be directed and provided by the ordinances
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Vacancies, how fil-
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of the corporation; and in case of the death, resigna-
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led
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tion, removal out of the State, or other disqualification
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of the president or of any director of the said corpora-
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tion, the vacancy thereby occasioned shall be filled by
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