Page:United States Statutes at Large Volume 16.djvu/171

FORTY——FIRST CONGRESS. Sess. II. Ch. 109, 110. 1870. 137 debts and liabilities of said company to an amount equal to the amount of stock held by such stockholder. l Sec. 22: And be it further enacted, That all the provisions of the act Reports. mcorporating the Wasliington and Georgetown Railroad Company, re- 1862·.Pl‘·l3· qmring reports of expenditures, earnings, and otherwise, shall be appli- VCL1m` p`388` cable to the company herein incorporated, which shall make reports as in said act required. Sec. 23. And be further. enacted, That all acts and parts of acts Repealing heretofore passed which are inconsistent with any of the provisions of °l*‘“$°· this act be, and the same are, for the purposes of this act, hereby repealed, so far as the same are inconsistent herewith. Approved, May 24, 1870. CHAP. CX.——An Act to incoiporate the National Union Savings Bank of the District May 24, 1870. qfCoZumbia. ""*‘—— Be it enacted by the Senate and [base of Representatives of the Mzited States of America in Congress assembled, That George H. Plant, William , Natl0m! Sm" s. Huntington, Lewis cinpnnns, 11. A. waiinni, George w. Aanms, s. }9§;i,?;"§,°§gP° P. Brown, William Stickney, B. P. Snyder, A. L. Sturtavant, J. H. La- lumbiaincorpothrop, Nathaniel Wilson, R. D, Mussey. Zenas C. Robbins, William B. ”·‘°d· Todd, Edward Simms, Joseph Casey, James M. Latta, I·Ienry Willard, William H. Philip, Alexander R. Shepherd, Williani P. Dole, Hugh Mc- Culloch, and Mathew G. Emery, are hereby created, and their successors and assigns, shall be, and they are hereby declared to be, a body politic and corporate, by the name and style of the National Savings Bank of the District of Columbia, and by that name shall have succession, and be ca- P<>W¢¤¤· pable in law to sue and be sued, plead and be impleaded,answcr and be answered, defend and be defended, in all courts of law and equity, and elsewhere; to make and to use a common seal, and the same to alter or renew sm, at pleasure; and generally to do and perform all things relative to the object of this institution, which is now or shall be lawful for any individual or body politic or corporate to do. Sec. 2. And be it further enacted, That the officers of said corporation omnm, shall consist of a president and vice-president, who, together with seven trustees, shall constitute a board of managers, four of whom, if the presi- Quorum of dent or vice·president be present, shall constitute a legal meeting of such m¤¤¢*z¤¤‘¤· board for the transaction- of business. Sec. 3. And be it farther enacted, That said corporation shall meet_ Annual meetaunually in the month of April, and as much oftener as they may judge lyfnff °°‘P°”“' expedient, and any seven members of said corporation, the president, secretary, or treasurer being one, shall be a quorum, and the said cor- Quorumporation at their annual meeting shall have power to elect a president Omcers. and a treasurer, who shall give bond in the sum of ten thousand dollars, Bond. for the t"aithful discharge of the duties of his office, and all such other oflicers as may be deemed necessary; which officers shall continue in Term ofotnoe. office one year, and until others are chosen in their stead, and all officers so chosen shall be under oath to the faithful discharge of the duties of their Oath. otiiees, respectively. Sec. 4. And be it farther enacted, That said corporation may receive _ Deposits and on deposit, For the use and benefit of the depositors, all sums of money mV°“m°“°“* oll"ered for that purpose. All such sums may be invested in the stock of any banlc incorporated by Congress, or may be loaned on interest to any such bank, or may be loaned on bonds or notes, with collateral security of the stock of such banks at not more than ninety per centum of itslpar value, or they may be invested at [in] the public funds of the United States, of the several States, or loaned on a pledge of any of said Funds, e or invested in loans on mortgages of real estate: Provided, That the whole Proviso. amount of stock held by the institution at one time in any one bank, both