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Subscriptions for additional shares.
Suspension of payment,
Subscriptions from funds of the state, ecclesiastical sucieties, &c.
open subscriptions for three hundred shares, to be ad-
of any such shares in any general meeting of the stockhold. ers. Provided, that this act may be altered, amended, or revoked, by the general assembly.
- E it enacted by the Senate and House of RepsECT. 1. B resentatives, in General Assembly convened, That the stockholders of the Derby Bank, at Derby, shall be, and remain a body politic and corporate, by the
Power of revocation.
name of “The President, Directors and Company of Name.
the Derby Bank,” and, by that name, shall be capable in law to purchase and hold all kinds of estate, real and personal, and the same to sell, dispose of, and convey; to sue and be sued, in all courts whatever; to have and use a common seal, such as they may devise; and to make and carry into effect such by-laws and regulations as may be deemed expedient, for the proper management of the affairs of the corporation, not repugnant to their charter, the laws of the state, or of the United States; and gene. rally, to do and cause to be executed, all such acts and things as to them may appertain, subject to the provisions hereinafter contained.
sect. 2. The capital stock of the bank shall consist of Capital stock.
one thousand shares, of one hundred dollars each, which
Meetings, how called.
Board of directors.
Officers and agents.
Powers of directors.
be ineligible for one year; but any of the directors, resi-
stockholders shall be entitled to vote, at any general,
meeting, in person, or by proxy ; and one vote shall be
er place in the state. The debts of the corporation, whether by bond, bill, or note, shall not, at any time, ex. ceed fifty percent over and above the amount of the capital stock of said bank, which shall have been paid in, and the money actually deposited in the vaults thereof for safe keeping.
sect. 9. The bills and notes of the corporation, signed by the president, and countersigned by the cashier or treasurer thereof, promising the payment of money to any person, or order, or to bearer, shall be obligatory on the corporation, according to the tenor thereof, and shall be assignable according to the custom of merchants, and the laws relating to inland bills of exchange. And all negotiable notes, duly executed, may be indorsed to the bank, in the same manner, and on the same principles, as to individuals; and the bank may maintain suits thereon to recover the money.
sect. 10. The bank shall always be open to subscriptions, at the rate of one hundred dollars for each share, to be paid from the funds of this state, or any of the ecclesiastical societies, schools, or corporations for charitable purposes, within this state ; but such shares shall not be transferable; and the monies for such shares may, at any time, be withdrawn from the bank, on giving six months’ notice to the board of directors. Whenever five hundred shares in the stock of said bank shall be holden as aforesaid, by the state, or such societies, schools and corporations, the holders thereof shall be entitled, at an annual meeting of the stockholders, to choose one director of said bank, who shall continue in office in like manner as other directors: and in making such choice of a director, one vote shall be allowed for each share so holden; but no other vote shall be allowed on account of such shares, in a general meeting of the stockholders.
sect. 11. This act, or any part thereof, may, at any time, be altered, amended, or repealed, by the general assembly.
An Act to incorporate the Eagle Bank. sect. i. Bo it enacted by the Senate and House of Rep
resentatives in General Assembly convened, That the stockholders of the Eagle Bank, their successors and assigns, shall be and remain a body politic and corporate, by the name of the “President, Directors, and Company of the Eagle Bank of New-Haven,” and by
Bills and notes of the bank.
Notes indorsed to the bank.
Subscriptions by societies, &c.
Power of revocation.
Name of corporation.
that name shall be capable in law to purchase and hold property, both real and personal, and the same to sell and conveyat pleasure; to sue and be sued, in all courts whatever; to have and use a common seal, such as they may devise; and to make and carry into effect, such by-laws and regulations, as shall be deemed expedient for the proper management of the affairs of the corporation, not repugnant to their charter, the laws of the state, or of the United States: and, generally, to do and cause to be executed, all such acts and things as to them may appertain, subject to the provisions herein contained. sect. 2. The capital stock of said bank shall consist of five thousand shares, of one hundred dollars each, which shall be transferable according to such rules as shall be established by the directors; together with such shares as have been, or shall be, subscribed by the state of Connecticut, the school fund, any college, ecclesiastical society, school, or corporation for charitable purposes. And whenever payment of the original subscription of five thousand shares has been made, the stockholders, at a general meeting, may authorise the directors to open a new subscription, for such amount as they may deem expedient, not exceeding two thousand five hundred shares: and it shall be the duty of the directors to present the said resolution to the next general assembly, who will appoint commissioners to receive said additional subscription, in the same manner as the original subscription was made. f sect. 3. For the well ordering of the affairs of the bank, there shall be nine directors, who shall be elected annually, by the stockholders, in general meeting. None but stockholders shall be eligible as directors; and not less than two thirds of the directors shall be resident in New-Haven. At their first meeting, after each election, the directors shall choose one of their number for president; and whenever the place of president or director shall be vacant, by resignation, or otherwise, the same may be supplied, by the choice of the directors, for the remainder of the year. All elections for directors, or president, shall be by ballot. No person shall be eligible as director for more than three years out of four, except the president. sect. 4. A general meeting of the stockholders, shall be holden on the third Tuesday of July, annually, when the directors shall be chosen. A general meeting may be called when the board of directors shall think proper; and fifteen days previous to any general meeting, whether stated, or special, notice thereof shall be given in a newspaper published in New-Haven, and in such other man