JAMES THOMAS, ESQUIRE, GOVERNOR.

1832.

tions shall be appointed, and notice of such elections given,
and the same shall be conducted in such manner as the
by-laws shall provide.

CHAP. 140.

Sec. 3. And be it enacted, That the Directors for the time
being, or a majority of them, shall have power to elect a
President from their own body, or from the other members;
to fill all vacancie.s that may occur in the Directory or Pre-
sidency; to appoint all such officers, agents, and servants,
as they shall deem necessary to conduct or execute the bu-
siness of said Corporation; to fix their compensation, and,
in their discretion, to dismiss them; to take bonds for the
said Corporation from all or any of the officers, agents, or
servants, by them so appointed, with security, conditioned
in such form as they shall approve, for the faithful execu-
tion of the duties of such officers, agents, or. servants, and
to secure the said Corporation from loss; to regulate the
manner of making and receiving deposites; the form of cer-
tificates to be issued to depositors, and the mode of trans-
ferring the same; to invest the funds of said Corporation,
and generally to do any such other acts touching the same,
as they shall deem most safe and beneficial; to admit mem-
bers, and furnish proof of such admission; to exclude mem-
bers, when they have not any property in said Corporation;
and generally to pass all such by-laws as may be necessary
for the exercise of the aforesaid powers, or the powers
vested in the said Corporation, and the Same by-laws from

Powers of direc-
tors.

time to time to alter and repeal; Provided, That all such
by-laws may be altered or repealed by a majority of the
members assembled at any annual meeting, or at any gen-
eral meeting, called in pursuance of any by-laws made for
that purpose; and a majority of the members present, at
any annual or general meeting, may pass by-laws which
shall be binding upon the Directors; Provided also, That
such by-laws shall not be contrary to any law of this State,
or of the United States.

Sec. 4. And be it enacted, That every person who shall
be a weekly depositor of said Corporation, and who shall
have deposited not less than one dollar for each week for
the period of twelve successive months, shall thereby be-
come a member of said Corporation, and shall have the
right to require and receive from the President thereof, or
other officer, in that behalf, by the by-laws appointed or
designated, a certificate of membership; and the person so
becoming a member, shall, so long as his said amount of
deposite shall remain with said Corporation, be entitled to
all the rights and privileges belonging to a member of said