Chap. 38.—An ACT to Incorporate The Bank of Marion.

Approved February 11, 1874.

1. Be it enacted by the general assembly, That M. Jack-
son, Frank Alexander, D. D. Hull, G. G. Goodell, Fayette
McMullin, George W. Palmer, and J. P. Sheffey, together
with such other persons as they may hereafter associate with
them, shall be and they are hereby constituted a body poli-
tic and corporate, by the name and style of The Bank of
Marion, and by this name and style are hereby invested with
all the rights and privileges conferred on banks of discount
and deposit of the state, by chapter fifty-nine of the Code,
and the acts amendatory thereof, and not inconsistent with
the provisions of this act.

2. The capital stock of the said corporation shall not be less
than ten thousand dollars, in shares of twenty-five dollars
each, which may be increased, from time to jjme, to a sum
not exceeding two hundred thousand dollars. ,

3. No stockholder shall be eligible to an election as a direc-
tor who shall not, at the time, be the absolute owner, 1n his
own right, of at least four shares of the capital stock.

4. The board shall regulate the admission of members. It
may receive money on deposit and grant certificates there-
for; and it may buy, sell, and negotiate bullion, coin, bank
notes, foreign and domestic bills of exchange, lend money on
personal or real security, and receive the interest in advance,
and guarantee the payment of notes, bonds, bills of exchange,
or other evidences of debt.

5. This act shall be in force from its passage.