HENRY LLOYD, ESQUIRE, GOVERNOR.

ness of said corporation; to fix their compen-
sation, and, in their discretion, to dismiss
them; to take bonds for and in the name of
the corporation from any or all of the officers,
agents or servants of the corporation by them
so appointed, with security, conditioned in
such form as they shall approve, for the faith-
ful discharge of the duties of such officers,

667

agents or servants, to secure the said corpora-
tion from loss; to invest the funds of the cor-
poration, and to do such other lawful acts of
the corporation touching the same as they
may deem beneficial and proper; to pass all
such by-laws as may be necessary for the ex-
ercise of the aforesaid powers, or any other
powers invested by this act in said corpora-
tion, and the said by-laws to alter and repeal;
provided, that all such by-laws may be altered
and repealed by a majority of the stockholders
at any annual or general meeting called in
pursuance of the provisions of this act; and a
majority of the stockholders may at any such
annual or general meeting pass by-laws which
shall be binding on the President and Direc-
tors; provided, also, that such by-laws shall
riot be contrary to. any laws of this State or
the United States.

By-laws.

SEC. 6. And be it enacted, That no person
shall be eligible as President or Director of
said corporation, as the case maybe, unless he
be a stockholder therein.

SEC. 7. And be it enacted, That said cor-
poration shall have power to borrow money,
receive money on deposit, to loan money, or to
discount in accordance with bank usage, tak-
ing such security therefor, either real or per-
sonal, as the Board of Directors of said

To be stock-
holders.

bank may deem sufficient; may buy and sell
bills of exchange, notes, bonds, or other se-
curities; may accept and hold all such trusts
as shall or may be committed to it by any per-
son, or by the order or direction of any Judge,
or Court, or tribunal; may make such special

To transact
what business.