{"character_count": 6867, "word_count": 1245, "ccnet_language_score": [0.9470999836921692], "ccnet_perplexity": [2003.9000244140625], "fasttext_language": ["en"]}
per ana quallty OF the DulIdIngS, and an es-
| innate of each and all, which certificate


must be signed and sworn to before Judge


or magistrate. or some one authorized to ad-


minister oaths, by said commissioners or a


majority Of them,


SEC. II. Be it further enacted. That so


soon as fve thousand shares shall have been


subscribed, in the manner herein provided


for, the Governor of the State shall provis-
/ ionally appoint thirteen directors, who shall
serve for twelve months and it shall be


the duty Of the said directors to choose Presi


dent Of the said Mississippi Union Bank and


who shall be chosen from among themselves;


and the president thus chosen, shall remain


in Office twelve months following their ape
/ pointment; and that so soon as the directors


are appointed and the president chosen, the
| power OF the commissioners appointed to


receive the subscriptions, and the papers re-


lating thereto, and in the possession of the


commissioners, shall be delivered over to


the board of directors.


| SEC. IS. BE it further enacted, That


after the first appointment, an annual cleo


tion of eight directors, for the stockholders,
shall be held on the first Monday in March


OF each and every year; and the said direc-


TORS except those upon the part of the


State shall be elected by the stockholders,


or their attorneys, with the restrictions be-


fore recited, after public notice of the same


IS given in the newspapers Published at Jack


son, Vicksburg, Natchez, WoOdville, Port


Gibson, Columbus and Manchester, there


by designating the time and place of said


election, when the stockholders shall meet


for that purpose the time thus fixed shall


be at least two months after the publication


of such notice and law; and said directors


shall be elected by a plurality Of votes
/ PF0Dided, the said shares shall have been


held three calender months previous to the
election; otherwise the holders thereof shall


not be entitled to vote; and the directors


shall remain in Office from the second Mon
day of March, to the same month in the
year following; and the board of directors
shall every year, at the first meeting afteI


their election, elect one of the directors &c


be president of said institution, and who
shall remain in Office during the term fol


which said directors were elected as above


stated PROVIDED GtsUays, That il an cleo


ton or appointment of directors, or of a
president, shall not take place at the period
fixed by the present act, the corporation


shall not on that account be dissolved, but


it may be lawful at any other period to hold


said election, or make new nominations as


the case may be: aud the manner and place
Iof holding the elections, shall be fixed by


the bylaws and ordinances of the board Ol
directors, and until such elections, the pres.
ident and directors Of the said Union Bank


shall be continued in Office find provided


also, That in case of vacancy arising from
death, resignation. absence from this State
for the term of six months, non acceptance


refusal to qualify, or removal from Office


OF any director, the vacancy shall be filled
by the board Of directors.


SEC. Is. Be it further enacted, Tha'


the cashier, telIers, book-keepers, and al


other officers, and servants of the bank shall


give bonds, with security to be approved o
Iby the president and directors Of said insti
tuition, for the faithful discharge of their du-
ties; and that their appointment shall be
made by the direction of the bank, and they
may be removable at the pleasure of saic
!. direction, and their salaries be fixed by the


said board of directors, who may be in
. creased or diminished, as may be deemed
necessary by said board.


; SEC. II. Be it further enacted, That NJ
individual can be director of said bank
r who is not citizen, domiciliated in tn
; State, and who does not at the time of hi
r election, in his own right, hold at least thir
r ty shares OF the capital stock of said bank
: and no emolument, privilege or compensa
: tion shall be allowed said director, excep
: ting t he president, as herein provided for
nor any one be director, who is directo
1 of any other bank, nor his partner, nor tw'
/ persons in partnership or having a joint in
terest in trade, be at the same time director
y of said Union Bank; and il after being cleo
S ted or appointed, any director should fail
$ he shall be incapable of holding his Office


and another shall be elected in his place, a
( herein provided for, with this provision
1 that lfthe director, who shall become inca
: pable of holding his Office, or shall resign
{ or refuse to act, the vacancy shall be file
e by the board of directors; or if direCto
: upon the part of the State, shall be appoin
: ted by the governor.


t SEC. Is. Be IL further enacted, Tha
: said corporation shall not issue any note, bi
!; or check, for less sum than ten dollars
: and If payable to order, they shall be trans
: ferable by endoI sement, and if payable {
i bearer, they shall be transferable by delivery
o SEC. 10. Be it further enacted, Tha
e the whole Of the profits Of the said Unio
IS Bank shall remain with, and be employe
& by the directors, as part of its capital, uu
! til the full payment of that portion Of tn
L bonds Of the State specified in the Efth sec


ton, which will be payable in twelve years
It after which, one-fourth Of the profits the
d realized, shall be divided among the stock
e holders, in the proportion to which the
% shall be entitled respectively; and the whol
10 of the remaining and subsequent profits
l. the bank shall be employed by the ban
d until the full payment Of the bonds
= the State, which will be payable in f


teen years: after which, one-fOurth Of Il
E. profits then realized shall be divided O
il among the stockholders, as before provide
q. for and mentioned, and the whole Of the r
ID naming and subsequent profits shall be en-
A ployed by the bank, until the full pavme
n of the bonds Of the State, which viii be 81
Sd able in eighteen years; after which On


fourth Of the profits then realize
~ shalI be divided as aforesaid; and the who
3 amount Of the remaining and subseque
he profits shall be employed by the bank, uu
il the final payment and extinguishmene Of
a. the bonds Of the State ii favor Of this ins
4. tuition; and after which. the whole Of I
ho profits shalt be divided as aforesaid, and
E subsequent profits be divided annually, VI
stod this provision that in consideration Of I
.D. bonds made by the State, in addition 20
Of voice in its direction, the State shall be
ich titled to one-teuth part Of the whole pro
~ Of the bank. which one-tenth part shalt
Sc paid into the Treasury, atthe times and
81 !: the proportions provided for By this sect
al TO the Stockholders


nd SEC. 90. Be it further enacted, II