THOMAS H. HICKS, ESQUIRE, GOVERNOR.

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corporation, for one year thereafter, and until a
new election of directors shall take place, and the
twenty members first above named, or a majority
of them, shall be the judges of the first election
of directors, and the judges of all subsequent
elections shall be appointed, and notice of such
elections given, and the same shall be conducted
in such manner as the by-laws shall provide.

SEC. 3. And be it enacted, That the directors
for the time being, or a majority of them, shall
have power to elect a president from their own
body, or from the other members, to fill all vacan-
cies that, may occur in the directors or presidency,
to appoint all such officers, agents and servants,
as they shall deem necessary to conduct or execute
the business of said corporation, to fix their com-
pensation, and in their discretion to dismiss them,
to take bonds for the said corporation from all or
any of the officers, agents or servants, by them
so appointed, with security conditioned in such
form as they shall approve for the faithful execu-
tion of the duties of such officers, agents or ser-
vants, and to secure the said corporation from loss;
to regulate the manner of making and receiving
deposites, the form of certificates to be issued to
depositors, and the mode of transferring the same,
to invest the funds of said corporation, and gen-
erally to do any such other acts touching the same
as they shall deem most safe and beneficial; to
admit members, and furnish proof of such admis-
sion, to exclude members when they have not any
property in said corporation, and generally to
pass all such by-laws as may be necessary for the
exercise of the aforesaid powers, or the powers
vested in the said corporation, and the same by-

Officers to be
appointed.

laws, from time to time to alter and repeal; Pro-
vided, that all such by-laws may be altered and
repealed by a majority of the members assembled,
at any annual meeting or at any general meeting,
called in pursuance of any by-laws made for that
purpose, and a majority of the members present
at any annual or general meeting, may pass by-
laws, which shall be binding upon the directors ;
Provided also, that such by-laws shall not be con-
trary to any law of this State, or of the United
States.

Proviso.