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election of any trustees; the said trustees shall hold a
regular meeting at least once in each month to receive
the reports of their officers as to the business and affairs
of the corporation, and to transact such business as may
be necessary, and any trustee omitting to attend the re-
gular meetings of the board for six months in succes-
sion, may thereupon at the election of said board be
considered as having vacated his place, and a succes-
sor may be elected to fill the same, and a majority of
the trustees with the approval of the president may at
any time remove any trustee on proper notice to such
trustee and affording him an opportunity to be heard
in his defence.
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Object.
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SEC. 6. And be it enacted, That the general busi-
ness and object of the corporation hereby created, shall
be to receive on deposit such sums of money as may
be from time to time offered therefor by mariners, trades-
men, clerks, mechanics, laborers, minors, servants and
others, and investing the same on the securities or
stocks of this State, or the United States, or in the
stocks or bonds of any city, authorised to be issued by
the Legislature of this State, or loaning the same on
the securities of the said stocks or bonds, or on improv-
ed real estate, worth at least double the amount to be
secured thereby, or in such other manner as is autho-
rised by this act, for the use, interest and advantage of
the said depositors and their legal representatives; and
the said corporation shall receive as deposits from per-
sons of the description above mentioned all sums of
money which may be offered for the purpose of being
invested as aforesaid, which shall as soon as practicable
be invested accordingly, and shall be repaid to such de-
positor when required at such times, with such interest
and under such regulations as the board of trustees
shall from time to time prescribe, which regulations
shall be put up in some public and conspicuous place
in the rooms where the business of said corporation
shall be transacted; but no by-law or regulation shall
be adopted by said trustees, whereby any amount ex-
ceeding the sum of five cents shall be refused by the
corporation hereby created, when offered as a deposit
by any individual; and the regulations so adopted shall
not be altered so as to affect any deposit previously
made; no president, vice-president, trustee, officer or
servant of said corporation shall directly or indirectly
borrow the funds of said corporation, or its deposits, or
in any manner use the same, or any part thereof, ex-
cept to pay necessary expenses under the directions of
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