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This historic book may have numerous typos and missing text
Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1902 edition. Excerpt: ...of Dollars, divided into Shares of Forty Dollars each, but the Capital may be increased to any sum not exceeding Two Million of Dollars; according to the provisions of the thirteenth section of the Act, and in case of the increase of the Capital Stock of the Association, each stockholder shall have the privilege of subscribing for such number of shares, of the proposed increase of the Capital Stock as he may be entitled according to the number of shares owned by him before the Stock is increased. Fourth. The Board of Directors shall consist of Thirteen Stockholders. Fifth. The regular annual election of directors shall be held on the second Wednesday of January of each year; but if no election shall be held on that day, it may be held on any other day, according to the provisions of the tenth section of the Act, and all elections shall be held according to such regulations as may be prescribed by the Board of Directors of the Association, not inconsistent with the provisions of the aforesaid Act. No person shall be eligible as a Director for more than three years out of four; except the President and Vice-President for the time being, who shall be always eligible; nor shall any person be eligible as a Director who shall not own, in his own name and right, at least twenty-five shares of the capital stock. Sixth. No Director of this Bank shall at the same time be a Director in any other Bank in this City, nor shall more than one individual of a firm be a director in this Bank. Seventh. The Board of Directors shall elect one of their number to be President of this Association, who shall hold his office (unless he should become disqualified or be sooner removed by three-fourths vote of all the members of the Board) for...
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