LEVIN WINDER, ESQ. GOVERNOR.

75

months and until others shall be chosen; and the presi-
dent and six directors may be re-elected at the regular
annual elections; if the president shall be chosen out of
the number of directors, his place shall be supplied by
the directors from among the stockholders and if a va-
cancy shall at any time happen among the directors by
death, resignation or otherwise, the directors shall elect
director to fill the vacancy tor the residue of the year,
from among the stork holders.

Dec. Sess.
1813.

11. AND BE IT ENACTED, That in case of sick-
nets, or necessary absence of the president, he shall in
writing signify the same to the directors, who shall ap-
point one of the board of directors to act as president
pro tempore.

Sickness or
absence of the
president.

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 compen-
sation for their services as shall be reasonable; no direc-
tor shall be entitled to any emolument, unless the same
shall have been allowed by the stockholders at a general
meeting; the stockholders shall make such compensation
to the president for his extraordinary attendance at the
bank, at shall appear to them reasonable.

Cashier— his
compensation.

13. AND BE IT ENACTED, That the board of di-
rectors shall have power to purchase, rent, or lease prop-
er buildings for the bank, and to have such houses fitted
up and secured with vaults, &c. at the expence of the
company.

Buildings
for the bank.

14. AND BE IT ENACTED, That the board of di-
rectors and president shall nave power to make, revise,
alter or annul rules, orders bye laws and regulations for
the government of the company, and that of their offi-
cers, servants and affairs, as a majority of them shall
deem expedient, provided they are not contrary to law

Rules, or-

ders and bye-
laws.

or the constitution; Provided always, That no rule or
regulation shall entitle the president, or any director to
obtain discounts on terms different from those prescrib-
ed for other persons; And provided also, That neither of
them shall be indulged with discounts or accommodation
paper beyond one thousand dollars per week, and that
not to exceed in the whole at any one time, more than
five thousand dollars.

Proviso.

15. AND BE IT ENACTED, That the company
shall in no case be concerned in any article but notes,
bills of exchange, mortgages, stock of the U. States,
specie or bullion, except in the case of debts due to the
Bank, then they shall be fully justifiable in taking any
kind of security which they can obtain

In what ar-
ticles the bank
may be con-
cerned.

16. AND BE IT ENACTED, That ordinary dis-
counts shall be made by the president and three directors,
but the president and five directors shall be necessary
for the purpose of transacting the general business of
the company.

Ordinary
discounts.