Page:United States Statutes at Large Volume 13.djvu/129

THIRTY-EIGHTH CONGRESS. Sess. I. Ch. 106. 1864. 101 visions of this act, which the association may see fit to adopt for the regulation of the business of the association and the conduct of its affairs, which said articles shall be signed by the persons uniting to form the association, and a copy of them forwarded to the comptroller of the currency, to be filed and preserved in his office. Sec. 6. And be it further enacted, That the persons uniting to form O}*g¤¤i¤¤*i¤¤ such an association shall, under their hands, make an organization certi- gg22d5m t° licate, which shall specify- ' First. The name assumed by such association, which name shall be ¤=¤¤¤» subject to the approval of the comptroller. _ Second. The place where its operations of discount and deposit are to m§;"°° °f b“°‘° be carried on, designating the state, ,territory, or district, and also the par- ’ ticular county and city, town, or village. Third. The amount of its capital stock, and the number of shares into capitol snd which the same shall be divided. *‘h”°”· Fourth. The names and places of residence of the shareholders, and 0,.';m,,°:;,Q§‘§‘c;,_ the number of shares held by each of them. ,,,1,,,,,, ,,,-,2,.. Fifth. A declaration that said certificate is made to enable such per- tidioto. sons to avail themselves of the advantages of this act. The said certificate shall be acknowledged before a judge of some Certificatetobe court of record or a notary public, and such certificate, with the acknowl- “°k“°”l°dg°d‘ edgment thereof authenticated by the seal of such court or notary, shall be transmitted to the comptroller of the currency, who shall record and carefully preserve the same in his office. Copies of such certificate, duly Copies ¤¤<}¤r certified by the comptroller, and authenticated by his seal of office, shall 3::; b° °"' be legal and sufficient evidence in all courts and places within the United States, or the jurisdiction of the government thereof, of the existence of such association, and of every other matter or thing which could be proved by the production of the original certificate. Sec. 7. And be it further enacted, That no association shall be or-_ A1¤¤¤¤t<>f wpganized under this act, with a less capital than one hundred thousand l§,’:nt°£;”°U°SS dollars, nor in a city whose population exceeds fifty thousand persons, ’ with a less capital than two hundred thousand dollars: Provided, That Proviso. banks with a capital of not less than fifty thousand dollars may, with the approval of the Secretary of the Treasury, be organized in any place the population of which does not exceed six thousand inhabitants. Sec. 8. And be it further enacted, That every association formed Associations pursuant to the provisions of this act shall, from the date of the execution Wh€¤_¤> b¤ Cofof its organization certificate, be a body corporate, but shall transact no business except such as may be incidental to its organization and neces- mcnco business. sarily preliminary, until authorized by the comptroller of the currency to commence the business of banking. Such association shall have power to adopt a corporate seal, and shall have succession by the name desig- SML nated in its organization certificate, for the period of twenty years from its organization, unless sooner dissolved according to the provisions of its t M’?;°°”*—l”“° articles of association, or by the act of its shareholders owning two thirds 1;;?g,,,?°m"m` of its stock, or unless the franchise shall be forfeited by a violation of this act; by such name it maymnke contracts, sue and be sued, complain and ,;,,,,,,,,1 ,,,,w,,,,,_ defend, in any court of law and equity as fullyas natural persons; it may elect or appoint directors, and by its board of directors appoint a president, Directors and vice-president, cashier, and other officers, define their duties, require °m°°”· bonds of them and fix the penalty thereof, dismiss said onicers or any of them at pleasure, and appoint others to fill their places, and exercise under this act all such incidental powers as shall be necessary to carry on the business 'of banking by discounting and negotiating promissory notes, drafts, bills of exchange, and other evidences of debt; by receiving deposits; by buying and selling exchange, coin, and bullion; by loaning money on personal security; by obtaining, issuing, and circulating notes according to the provisions of this act; and its board of directors shall 9 is