1843.

FRANCIS THOMAS, ESQUIRE, GOVERNOR.

CHAP. 212.

Choosing Di-
rectors.

Sec. 8. And be it enacted, That in choosing direc-
tors, the stockholders shall be entitled to vote as follows;
for one share and not more than two shares, one vote each;
for every two shares 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
exceeding sixty, one vote; for every eight shares above
sixty and not exceeding one hundred, one vote; and for
every ten shares above that number one vote; but no per-
son or pet sons or body politic, shall be entitled to a great-
er number than thirty votes; and all votes at elections
shall be by ballot, delivered in person or by proxy.

None but the
stockholders
to be directors

Sec. 9. And be it enacted, That no person can be ad-
mitted a director unless he shall be at the same time a
stockholder; and if he shall cease to be at any time, a
stockholder, he shall cease to be a director.

To hold scats
for 12 months.

Sec. 10. And be it enacted, That the president and di-
rectors first chosen shall hold their seats for twelve months,
and the president and ten directors, may be re-elected, at
the regular annual elections, if the president shall be cho-
sen out of the number of directors, his place shall be
supplied from among the stockholders, and if a vacancy
shall at any time happen among the directors by death,
resignation or otherwise, the directors shall elect a direc-
tor to fill the vacancy for the residue of the year from
among the stockholders.

President to
say in writing.

Sec. 11. And be it enacted, That in case of sickness
or necessary absence of the president, he shall in writing
signify the same to the directors, who shall appoint one

Board of Di-
rectors to ap-
point Cashier.

of the board of directors to act as president pro-tempore.
Sec. 12. And be it enacted, That the board of direc-
tors shall have power to appoint a cashier, and other offi-
cers and servants for executing the business of the com-
pany and to allow such compensation for their services as
shall be reasonable; no director shall be entitled to any
emolument, unless the same shall have been allowed by
the stockholders at the general meeting; the stockholders
shall make such compensation to the president for his ex-
traordinary attendance at the bank as shall appear to them

Banking
House, &c.

reasonable.
Sec. 13. And be it enacted, That the board of di-
rectors shall have power to purchase, erect, rent, or lease
proper buildings for the bank, and to have such buildings
fitted up and secured with vaults, &c. at the expense of

To make by-
laws, &c.

the company.
Sec. 14. And be it enacted, That the board of direc-
tors and president shall have power to make, revise, alter
or annul rules, orders, by-laws and regulations for the