18 THIRTY-EIGHTH CONGRESS. Sess. I. Ch. 21, 22. 1864. Limiwfivn of Thai: the whole amount of stock held by the institution at one time in i""”°“€"°s' any one bank, both by way of investment and as a surety for loans, shall not exceed one half of its capital stock of such bank, au¢l that not more than three quarters of the whole sum deposucd m the mstmluon shall lm at any one time invested in moytgugcs of real estate. The mcome or m- Dividends. tcrest of all deposits shall be dwidcd among lhc depomsors, or than- legal representatives, according to the tcrzms of 1{ntcrest; stipulated; and the Principal, bow principal may be withdrawn at such txmcs, or in such manner, as the c0r— wi**—<**·=W··- poration shall in its by—laws aww. Sec. 5. And be iz further enacted, That no officer, director, or com- Om°°“¤ 8”°··f mittcc charged with the duty of investing the deposits, shall borrow any x:p::;?;:w° portion thereof, or usc the sam; excgpt in payment of tlxe expenses of the cor oratiou; and if an 0 cer, irector, agent, or ot ner person conncctcd wllrith said bank, and)lnterestcd with the funds or deposits thereof] shall embczzle 01* fraudulently convert the same to his own use, he shall
£;‘;‘;lEg;°" be deemed guilty of larceny, and shall, oln ccnvlctron thereof; by any
funds_ court competent to try the offence, be 1mpr1soncd m the pcmmnuary not. less than one, nor more than ten, years. Bond and me- Sec. 6. And be it further enacted, That the subordinate officers arld ’Y,°f·S"b°“ll"’°*° avents of said corporation shall respectively give such security for the1r °m°m` fidelity and good conduct as the board of managers may from time to time require, and said board shall Ex the salaries of such officers and avcnts. 0S15C. 7. And be it furiher enacted, That the persons named as corpo- 0'8““i”tl°¤· rabors in the first section of this act shall be authorized to meet and organizc said bank by the election of one of their number as president, and one as vice-president, and thereupon shall proceed to elect such persons as they shall select, not herein named as corporators, to be added to their
;£‘;;‘;:“ "“d board of managers, so that the whole number of trustees, or·mam>.gers,
' including the president and vice-president, shall not exceed nine persons. Sec. 8. And be it further enacted, That this corporation shall make A¤¤¤¤J WPOTW an annual report to congress of their funds and investments. Said returns shall spccify the following particulars, namely: The number of depositors; total amount of deposits; amount invested in bank stock and deposited in bank on interest; amount secured by bank stock; amount invested in public funds; loans on security bf public funds; loans on mortgage of real estate; loans on personal securities; amount of cash on hand; total dividends of the year; annual expenses of the institution; W b° ¤W°m l°· all of which shall be certified and sworn to by the treasurer ; and five Or more of the managers shall also certify and make oath that the said return is correct according to their best knowledge and beliefl Bcoks of¢<>¤‘D0· Sec. 9. And be it further enacted, That the books of said corporation E2°“ °° M °P°"’ shall, at all times during their hours of business, be open for inspection and examination to the comptroller of the currency or depositors. Sec. 10. And be it further enacted, That said corporation may make d Bg·lzW¤? Sm? by-laws for the more orderly management of their business, not repug- €° S’ °' nant to law; may have a. common seal, which they may change at pleasure ; that all deeds, grants, covenants, and agreements, made by their treasurer, or any other person by their authority, shall be good and valid; and said corporation shall have power to suc and may be sued, defend, and be held to answer by the name aforesaid. When actto Sec. 11. And be it further enacted, This act shall take effect and be
- 1*** °K“°"• in force from and after its passage.
APPROVED, March 8, 1864. MNT'}! 8.1864- CHAP- XXII.—An Act to enable Guardians and Committees a/` Lunatics; appointed in the several Stales, to act within the District of Columbia. Be it enacted by the Senate and House <y" Representatives of the United States of America in Congress assembled, That it shall be lawful for any
