WILLIAM GRASON, ESQUIRE, GOVERNOR.

1838.

day of January, and the first day of July, in each and
every year, to make and declare a dividend of the in-
terest and profits of said institution, after paying its
expenses, and the same to pay over unto the depositors,
or their legal representatives, within ten days thereaf-
ter, if called on.

CHAP. 313.

Semi-annual

dividends.

Sec. 6. And be it enacted, That the stock of the
Hancock Savings Institution, may be transferred by
the holder or holders thereof, in person, or by their
legal representatives; provided, that ho stockholder, or
stockholders, or their representatives, who are indebt-
ed to the said institution, shall be permitted to trans-
fer their stock until such debts shall be paid, or other-
wise secured to the satisfaction of the directors.

Transfers.

Sec. 7. And be it enacted, That the president and
any four of the directors, or in the absence of the pre-
sident, any five of the directors, shall constitute a quo-
rum for the transaction of the ordinary business of the
institution, and in the absence of the president, the di-
rectors forming a quorum as aforesaid, shall choose

Quorum of direc-

tors.

one of their own body to act as president pro tempore,
and in case of the death, resignation, or inability to
act of the president, or any director, the vacancies
shall be filled by the directors from among the mem-
bers, until the next annual meeting thereafter.

President pro tem.

Sec.. 8 And be it enacted, That in all discounts, or

loans that may be made by the said institution, it shall

be governed in its calculations of interest, by Rowlett's
Tables.

Rowlett's tables.

Sec. 9. And be it enacted, That this act shall contin-
ue and be in force until the first day of July, in the

Limit 1854.

year one thousand eight hundred and fifty four; provi-
ded however, that the General Assembly hereby re-
serves the right to repeal, alter, or amend this char-
ter, whenever it may be deemed beneficial to the com-
munity, or to the stockholders.

Proviso.

Sec. 10. And be it enacted, That the legislature may
at any time repeal, or amend this act, when they may
deem said repeal, or amendment, beneficial to the com-
munity, the or said company.
40

Rights reserved.