T. WATKINS LIGON, ESQUIRE, GOVERNOR

293

ers within ninety days next preceding any regular elec-
tion.

SEC: 6. And be it enacted, That said bank be,
and is hereby empowered and authorised to issue of
the nature and in the usual form of bank notes of any
denomination, not less than five dollars, to any amount
not exceeding the whole amount of said capital stock
actually paid up; and that section two of the act sup-
plementary to said original act, be, and the same is
hereby repealed.

Authority to
issue notes.

Repealed.

SEC 7. And be it enacted, That no person shall
be eligible to the office of president or director in said
bank unless a holder of at least one hundred shares of
the capital stock of the same; and that any twenty or
more of the stockholders of said capital stock who may
hold at least one third of the same, or upwards, actual-
ly paid in and not otherwise, shall have the right to
call general meetings of the holders of said capital stock
at any time, in accordance with the provisions of sec-
tion five of said original act.

Eligibility to
office.

SEC. 8. And be it enacted, That the shares of capi-
tal stock of said bank shall be transferable on the books

of said bank only, according to such rules as shall be
established by the president and directors of the same ;
but all debts due to the bank, by a stockholder request-
ing a transfer, must be satisfied before such transfer
shall be made, unless the president and directors shall
direct otherwise.

Shares trans-

ferable.

SEC. 9. And be it enacted, That it shall not be law-
ful for the said bank to make discounts in, or pay out
any funds or money other than the legal currency of
the United States, notes issued by its authority and
notes of other banking corporations, received at their
par value by the banks so paying them out.

Discounts.

SEC. 10. And be it enacted, That this act is passed
on the condition, that the stockholders and directors of
the said corporation shall be liable to the amount of
their respective share or shares of stock therein, for all
its debts and liabilities, upon note, bill or otherwise,
and upon the further condition, that no director or other
officer of said corporation shall borrow any monies from
said corporation; and if any director or other officer
shall be convicted upon indictment of directly or in-
directly violating this section, he shall be punished by
fine or imprisonment, at the discretion of the court;
and upon this further condition, that this act, and every

Liability of
stockholders.