Chap. 210.—An ACT to amend and re-enact the Charter of the Bs!
of Manchester.

Approved March 15, 1875.

Whereas, the judge of the circuit court of Chesterfid
county, by an order made in vacation on the thirteenth ds
of August, in the year one thousand eight hundred and set
enty-three, upon a certificate, in writing, subscribed and s
knowledged as required by Acts of Assembly, by Edwar
Graham, E. W. Weisiger, W. H. Parrish and others, grante
a charter of incorporation to the subscribers thereto, an
their successors, and such other persons as might be associs
ted with them, under the name and style of The Bank 0
Manchester; and whereas, the stockholders in said bank
which has been duly organized and is now in operation, de
sire to have their charter aforesaid revised, amended and re
enacted by the general assembly, so that the same shall it
future contain the pravisions hereinafter enacted in lieu o
the provisions previously existing in said charter,

§ 1. Be it therefore accordingly enacted by the general
assembly, That the body incorporated as hereinbefore reci-
ted, by the order of the judge of the circuit court of Ches-.
terfield, under the name and style of The Bank of Manches
ter, and now organized and in operation, together with such
persons as are now or may be hereafter associated with It.
be and the same is hereby ¢onstituted, made and continued
a body politic and corporate, by the name and style of The
Bank of Munchester, and by that name it may sue and be
sued, plead and be impleaded, have perpetual succession, and
a common seal, with power to ordain and establish suitable
by-laws and regulations for its government, and proper to
carry out the objects of its organization.

§ 2. The capital stock of said bank shall not be less than
fifteen thousand dollars, nor more than one hundred thous
and dollars, to be divided into shares of fifty dollars each.
The capital stock shall be payable by each subscriber at sach
times, in such manner, and in such proportions ‘or instalments
as may be required by the now existing or any future regu-
lations made by the said bank on the subject. In addition
to the uso of other remedies allowed or provided by law, the
said bank may, under its existing regulations, or under such
other suitable regulations as it may hereafter adopt, provide
by fines, sale and other means for the prompt payment of
dues by subscribers, and for the collection of dues from de-
linquent stockholders. °

§ 3. The said bank is authorized to receive money on de-
posit; to buy, sell, draw or negotiate bills of exchange; to
invest the money received on deposit in, or lend the same on
stocks, or any other security, real or personal, or use the
same in purchasing or discounting bonds, bills of exchange
and other evidences of debt, and generally to carry on the
usimess of a bank of discount and deposit, and the business
" g& savings’ bank, with all the rights, powers and privileges
>11 ferred, and subject to the duties imposed on similar bank-
= institutions by the laws of this state applicable to or
‘ralating the same.

S 4. Said bank is authorized to acquire and hold so much
»al estate as may be proper ‘for a banking house, and the
rounds necessary and convenient for the same, and such
cal estate as may be bona fide mortgaged to the company
y way of security, or conveyed to it in satisfaction of debts
‘reviously contracted in the course of its dealings, or pur-
hased at sales under decrees or other proceedings to enforce
he payment of such debts. .

§ 5. The officers of the bank shall consist of a president,
wud as many directors (being not less than five) as the stock-
10lders may determine on. The directors shall be elected
innually by the stockholders, at such time as the stock-
nolders may prescribe. The directors shall appoint one of
‘heir number president, and they may fill vacancies occurring
is the board; and the said president and directors, who shall
constitute a board for the management of the affairs of the
bank, sball hold their office until their successors are ap.
pointed. The board of directors shall appoint (to hold
during ita pleasure) the subordinate officers and agents, pre-
scribe their compensation, and take from them such bonds,
with such security, and in such penalty, and on such condi-
tions as it may deem fit.

§ 6. The stockholders may prescribe the number of direc-
tors to constitute a quorum.

§ 7. At all meetings of stockholders each stockholder shall
be entitled to one vote for each share of stock held by bim
or her, to be given in person or by proxy.

§ 8. The stockholders of said bank shall not be liable for
any loss, or damage or responsibility, other than the pro-
perty they have in the capital stock and funds of the bank
to the amount of shares held by them, respectively, and any
profits accruing therefrom not divided.

§ 9. Nothing in this act contained shall impair the exist-
ing organization of said bank; and the existing rules and
regulations, except so far as they may be directly in conflict
with this act, shall centinue in force until duly altered or re-

ealed.

§ 10. The place in which the principal office of said bank
is to be kept, and its chief business transacted, is the city of
Manchester.

§ 11. This act shall be in force from its passage and ap-
proval, and shall be subject to amendment, alteration or
modification at the pleasure of the general ‘assembly.