ROBERT BOWIE, ESQ, GOVERNOR,

233

8. AND BE IT ENACTED, That in choosing
directors, the stock-holders 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 person or
persons or body politic shall be entitled to a greater
number than thirty votes; and all votes at elections
shall be by ballot, delivered in person or by proxy.

1812.

Ratio of shares
to each vote in
choosing direc-
tors.

9. AND BE IT ENACTED, That no person can
be admitted to take his scat as a director, unless he
shall be at the time a stock-holder, except in the ap-
pointment of directors on behalf of the state; and if
he shall at any time cease to be a stock holder, he shall
cease to be a director.

Directors must
be stock-holders

10. AND BE IT ENACTED, That the president
and directors first chosen shall hold their seals for
twelve months; and the president and seven directors
may be re-elected at the regular annual elections; if the
president shall be chosen out of the number of direc-
tors, his place shall be supplied by the directors from
among the stock holders; and if a vacancy shall at
any time happen among the directors by death, resig-
nation, or otherwise, the directors shall elect a direc-
tor to fill the vacancy for the residue of the year from
among the stock-holders.

Directors first
chosen — ap-
pointment of
president, &c.

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 of the board of directors to act
as president pro tempore.

President pre
tem.

12. AND BE IT ENACTED, That the board of
directors for the bank shall have power to appoint a
cashier and other officers and servants for executing
the business of the company, and to allow such com-
pensation 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
a general meeting; the stock -holders shall make such
compensation to the president for his extraordinary
attendance at the bank as shall appear to them reason-
able.

Director may
appoint a cash-
ier, &c, Presi-
dent's compen-
sation, &c.

13. AND BE IT ENACTED, That the board of
directors shall have power to purchase, rent or lease
proper buildings for the bank; and to have such houses

Buildings for
the bank,