a sum not less than one thousand, nor more than twenty thousand, dollars, one moiety whereof shall go to the United States, and the other to the informer.
Right to extension of charter forfeited.
Assent in writing in the office of the Secretary of the Treasury.Sec. 4. And be it further enacted, That, unless the president and directors, for the time being, of each of the banks respectively, whose charters are hereby extended, shall on behalf of their stockholders, and in virtue of an authority from them, or a majority in interest and number of them, file their declaration, in writing, in the office of the Secretary of the Treasury, within six months from the passage of this act, assenting to, and accepting, the extension of charter hereby granted under the terms, conditions, and limitations, contained in this act, such bank shall forfeit all title to such extension of charter.
Citizen stockholders in the Bank of Alexandria, Farmers’ Bank of Alexandria, and bank of Washington may vote by agent or proxy.
Annual meeting of the stockholders of the Bank of Alexandria in January.Sec. 5. And be it further enacted, That every stockholder of the bank of Alexandria, of the Farmers’ Bank of Alexandria, and of the Bank of Washington, being a citizen of the United States, and not otherwise, shall be entitled to vote by himself, his agent, or proxy, appointed under his hand and seal, at all elections, in virtue of this act, and shall have as many votes as he has shares, as far as thirty shares, and not more than one vote for every five shares thereafter.
Sec. 6. And be it further enacted, That a meeting of the stockholders of the Bank of Alexandria, in the town of Alexandria, shall be held on the third Monday of January in every year, during the continuance of this act; previous notice whereof shall be published in some newspaper printed in Alexandria or the city of Washington, for the space of four weeks successively; and the stockholders assembled in consequence of such notice, shall choose by ballot from among themselves, by a majority of votes of such as shall be present, or by proxy, ten directors being citizens of the United States,Ten citizen directors, by ballot, for a year.
Remaining directors to fill vacancies.
Election of a President. for the term of one year thereafter, and on the same day annually, for and during the continuance of this act, a like election shall be made; and in case of death, resignation, refusal, or disqualification, of any director, the remaining directors, at their next meeting, or as soon as convenient thereafter, shall elect, by ballot, another person, qualified as aforesaid, in his place, for the residue of the year. The directors, or any seven of them, shall, at their next meeting after every general election, elect, by a majority of members present, by ballot, from among themselves a president, who shall retain all the powers and privileges of a director; and in case of refusal, death, resignation, or disqualification, of the present, the directors shall meet as soon as conveniently can be thereafter, and after filling the vacancy in the number of directors required by this act, elect another person for president, in manner before directed.
No note under five dollars after Jan. 1, 1822.Sec. 7. And be it further enacted, That it shall not be lawful for any of the said banks, after the first day of January next, to make issue, or reissue, any bill, note, or obligation, payable to bearer or order, of a denomination under five dollars.
The 14th section of the act incorporating the Bank of Columbia, repealed.
Proviso.Sec. 8. And be it further enacted, That the fourteenth section of the act incorporating the Bank of Columbia, aforesaid, passed the twenty-eighth day of December, one thousand seven hundred and ninety-three, be, and the same is hereby, repealed and annulled:[1] Provided, That the said fourteenth section shall remain in full force and effect in relation to all debts contracted with the said bank previous to the passing of this act.
Central Bank of Georgetown and Washington authorized to liquidate and close its concerns.
For which purpose only the corporation is continued.Sec. 9. And be it further enacted, That it shall be lawful for the Central Bank of Georgetown and Washington to proceed forthwith, to liquidate and close all the concerns of the corporation, and after paying and satisfying the debts, contracts, and obligations, of the corporation, to di-
- ↑ The fourteenth section, here annulled, authorized this bank to enforce the payment of debts by a summary process to execution. The Bank of Columbia was chartered by an act of the general assembly of Maryland.
