, Oariiretbf pliniof UifWrghtforiieace, r
:, ' V4,J,aTp,46vjwft7r3e.toHviikebrothc-!
3
,' , ,' .' VAT . v k - ' : '- - i m i-
Paffcd at the Seffiori of Alfembly ending on the adft Decembcr, 1805.
. 1. v .
1A Thp fair! tiorooration mail notlfet
a v w , - - r- 1 -
to
Smck. unlefs it be
rmmit . lively, w uauuv. v. v.. w... 7
fnund hecetiary to ao 10 ior me puipmc ut jcuimg ii- w. ;. - 71
which may be advanced Dy any uanK in tawng upaiiu.piy iii&.iuc uuiw.iu 7
r. . . , "... t 1 -rv O ' r: J" . 1 f" I knl Va tsKl rtt
a w t m niiv ir n ir n i iir- i iiirriiiix iimv nun imii. ill vaiiia man ww.
InSrCS Ol. VH J-aiiv w uyii uv. .; w.. v t ' "O
it par, or above as the market-prtpe may oe, wnencver opponunuy micu w
j "with convenience i ot; the nufiber of fhafes fo purchaled in,
do fo with convenience i yJna provided th(
Cetried, as parties or agents therein, fhaltfbrfeit :and lofe trebe the -luei
gooas, wtres, mercnanclie ana commodities in whicp iuch dealing ahd trade; Jhall 1
ha been; one half thereof t0 the ufe of the informer, and The oiher halferebf:
to the ufe of the State, to beTecovered'vhh:CQfts$TO
P ther perfon,ofany of the Banks hereby eabli
, or capital of the laid Bank Stock, who ill all commit any frayd ombtzzletnent
r touching the money or prbperty of the, Bank, iHall be liable tobeprbecutedm
the name of the State, by indjttrrient, in any coiirt of law irl: this State ;' and upori.
-convicuon tnereot, man, behdestthc remedy that may ue nad by actien, m tne
j nunc ofahe Prefidepj and DireQors of tke State Bank of Nouji Carolina, for the
jfeaud aforefaid, forfeit -all his fhare or fhares?.6r flock in tfie faid Bank,; to' the
President, Directors and Company thereof, a:bc:reiT.tfercaftcr;rcfedcrd
incapable pi holding any office of truft or; profit under this State. ;
"And 'whereas it would greatly tend to promote the" Agricultural and Manufsc-
turing Interes of the Stae, if this Bank fhoijld te authbrifed to make loans on
rt til l - ill - . i: , . - j- . .. . ... - A . I , .1
hall not exceed at any one time two thouiand lhares : Ior man tne uia orpci- j:raore exiended principles than have heretofore icen adopted by limilar initiu- , I
ration, 'direclly or bdireBlv, deal or trade in any thing except bills of exchaige, j! dons in this Siate, : ; ' ; ; ' Hc U'll
cold or fiVver 'bullbn, or in thcfalc of goods really and truly pledged for money XVI. Be ii enact ed That the pireftors of the Bank hereby eftablimed;.ifiit::' -lent
andhut redeemed in due-time, or in goods which fhall be the produce of its ? and they, are hew by aauhorifed and empowered, on the application of any farnler, ll:
l2lids: Neither fhall the faid corporation take more thin at therftteof one-half per .mechanic manufacturer, or other perfon, of thia Stated to ogena cafti'ccount i
nrum for thirtv dav. for or on account of its loans or difcounu. 1 1. No loan with fuch applicant, for any fum not lefs than one hundred dollars : and horex- L
ceedingtone thouiand dollars; wheieoJithe party obtaining fuch exfh account may4; li.
draw,
fettlement (hall tske p!ice femi -annually, the party drawing the cafli paying an in- .-'
jterefl for what he may fo draw, at
opening the account,
fifty dollars at anv'one time, and whereon a
ht rate of fix per cent, to be 'deduclctfori :
to.be allowed intcrefl on all funi; retumrd,' fro til th
titnc oi payment : Provided hoivevzr, that no peifpn'fKid! obtain the benefit of 'any
jfucfc cfh account, until he flyJl give fuch w ton able or hmded fecurity, as the
j Dnelors of the? principal Bank, or the Branch Bxnk, wherever the application
ffi-ill DC maue rri occurs v. mnv rcnnirc : HrniuffL.-'xhit tvr fhall not at.anv
i tim DC more than ona hirh of thelfnck or the rmnnn.r ?nr Rrnrh Kank. lersf 011P
by the Directors of . the faid Bar.kt refpectively, on Tuch'cafh accounts, ailowiri
fifty thoufand dollars to be the iloc.k of the Branch Banks. , V . '
XVII. And h it further enafted, That the bills or notes of the faid corporation
originally made payable, or v;hich li2il bve become psvablc on demand, fhall be
j receivable in all payiaents d'ie to the State of North-Carolina. And the public
monies oi mc iaie may oe acpontea in tne Jbank thereof, whenever lying inac
tive. And the Directors are hereby authorifed to ifTue their notes for ail th- pa
per money fo dcpofited, and by whomfoever depofitcd, that is to fay, for every
ten Ihilhngs thereF one dollar, and no more, over and above' the Teftriftion by
this a(t piovided ; and pafs the lame in exchange for their notes, in fuch propor
tion as the Directors may think for the benefit and fecurity of the corporation.
XVIII. And be it further enacted That the dividends becoming due and pay
able to the Slate femi -annually, fhil be paid to the Treafurer of this State; "who,
on receiving the fame, fnall take the half of fuch dividend ''prid call unnn tKe ferric
. . . ' . ..r .
fhall be made by the faid corporation to any Government or State to any tmount
u.x., nrlirc Trftrir.iiflv author! fed thereto bv a law of this State, la. The
T.UUv vvij ujiviu j.v..v.y J
bnrlc of the- faid corporation fhall be aflignable and transfertble, according to
fch rules and regulations as fhall be prefcribed by the laws and ordinances of the
fame. il. The bills obligatory and of credit under the feal of the fid corpo
ration, which fhall be made to any perfon or perlons, Ihtll be afhgr.ble by en-
dorfement thereupon, under the hand or hands of fuch perfon or pcrfoni, and of
his or their aflignee or affignces, fo as abfqUitcly to transfer and in veil the pro
perty in each and every aflignee or aflignccs fuccefTivcly, and to enable fitch
afficmee or affignees to bring and maintain an a8 ion thereupon, in his, her or their
Killc UiKirVi mav he iffiird hv order of the fjid -
corporation, figned by the PreGdent, and countcrfigned by the Cdfhier or Trea
furer thereof, pramifing the payment of moncv to any perfon or perforn, his, her
or their order, or to bearer, though not under the feal of the ftid corpot:ion,
fhall be binding arid obligatory upon the. fame, in like manner and with the like
force and effect, as upon any private perfon or perfons, as if lfTued by him or
them in his, her or their private capacity or capacities, and fhall be affiliable and
negotiable in like manner as if they were fo iffued by fuch priVcTte pet fons ; that
is to fdv thofe which fiall be oayable to any person or persons, his, heripr their
order, fliall be afiignable by end'orfement, in the like manner and with the like;
ffect as foreign bills of exchange now arc ; and thole which are payable to beaier, j
flull be negotiable and afiignab-e by delivery only : And all notes or bills at my
time discounted by the faid corporation, mall be, and they are hereby placed on !
the fame footing as foreign bills of exchange, f that the like means may be had for j
the recovery thereof againfl the draper or drawers, endoifer or endorfers, arid jfr)r faid amount in the paper rironey of thrt State, and in the pretence of the Pre-
with the like effect
uf-ge ox CiiAom to the contrary
bz mad
vifable
(except fo far as relates to- damagrs and inrerefl) a:f law,
e contrary no:with?iandina, 14. Hlf-yearly dividends fha!l
e of fo much of the profits of the Bank as fhall tppcar to the Directors a4
: and once in evqry year, at a meeting to be held for the choice of Di
rectors, thofe of the preceding year fhall lay before the ftockholders for their in
formation, an exact and particular' ftatement of the general amounts and fta'e of
the vrporation, of the debts which fhall have remained unpaid after the expira
tion of the term of credit f)r a period of ; treble t.hc term of that ciedit, and the
a failure -in the payment of any part ofany fum fubferibed by any perfon, copart
nerfhip or body politic or corporate, the party filling fliall forfeit (the hrfl pay
ment made to the Bank, with any dividend which may have accrued prior to the
time of makmg the fecond, third, fourth or fifth payment (as the cafe may be)
dating the delay of fuch paymer r. 15. The Directors aforefaid fhU commie the
management of the Branch' Banks by this a6t -.-authorifed, to the Directors 'at the
places at which they .arS eflihlifhcd," under fuch agreements, and ftihjett to fuch
regulations as fhall be deemed proper, not being con.rAry to law or to the confli
tutioiiof the Bant, and m rd!o w to tb'ofheers thereof fuch compenfation as they
may think fit. 16. i;hc Leg! flat uvc ill all be furniflied annually with ftatecnti
ofthe amov.nt cf th2 c rpitl Hock of faid corporation and of the delts due to the
fame, of the mcies dei ofited therein, of the notes' in circulation, "and of the
cafli in hand y and fhall have a right to infpec") fuch general accounts in; the book
of the Baras fllall relate to the laid flatement ; Provided, that this a& f h al 1 not
be coiiitHfrd to imnlv a rrUt nT in rnrdiiTt ihe account of anv individual or indi-
dtuKj or anv body politic or corporate, wun the 'bank. . 17. 1 he Directors
in.Ti keep fair and
regular enisies of their proceedings, m a book or books to be
provided for that purpofe ; and oi anyneftion-vvherewo Directors fhall require
if, , the yeas ancTnays of the. Direciors voting fhall be duly, infertcd on their ml-
nutes, imd tbole.nimutes he at ad tunes, on demand, producea. to tne UocKhold-j
ers when at tcjieneral meetirWoz to the Legitlatuie, who (hill bje 'authdri fed hereby i
to Teqiiiretlieifame. t3.?No Prcfrdent or Cafhir of the Bank fhall be directly pr
indirectly cOricerned in the purchafe or tale ofa.ny of the public flock or funds, un-
der the'pehaity of ten thoufand dollars, to be forfeited one half thereof to the ufc
cf the State 'and the other half tothe ufc of the informer V hor fhall the Cafhier
be allowed. to carry on any mercantile bufinefsthaji that cf the Bink, under the
penalty of live thoiifartd dtdlars, to be recovered by any perfon fuin for the fame;
19. A f-ir and correct tiltbf the ftookJVSJifali be kept in a book to be pro
Cured for jhat purpofe' and ' ih.eireacftvthalr''tan up in the Common Hall of
aid liank, all the iames of fuch flqckholders one month, before any election of !
Bircctors fhall take place, to the end that public Information' may be 'iven to the
parties of their co-proprietors' and ftockholders. - jl&'L : ' '
X V, Be tt enacted, That if the faid corporation, or any per fon br perfons for
rto the ufe of the fame, fhall deal or trade in buyingcr felling any goods, wares,
Merchandize or commodities whatfoever, contrary to the pro v i iions of this ' aE all
End every perfon or perfons who mall have given any order or direction for fo
dealing aul trading ; and all and every perfon or perioni who fhail have been con
lidcnt fhall deface the fame, and alfo as many notes as the faid Bank ;fhall have -.
iiTurd for fuch .amount, and report the feme to the next General AiTemhly; the
other half of fuch dividend paid to the Treafurer as aforefaid, he fhall d:pofk m
the faid Bank, .until he mall be by law authorifed otheiiwife to employ or didpoie
of 'the fame. '
XIX. And be it farther enacted. That every ' fubferiber to the fhares of the
Bank hereby eftabiifhed, on producing the receipt for the money they Jiave paid,
of the commifBoncrs hereby appointed, or any two of them," fhall entitle him or
her to vote for Directors, agreeably to the regulations-herein prefcribed, fo far as
relates to the firfl payment; the fecond, and all other payments, till each fhare.'
fhall be paid for as this act directs, ftull and may be made either to the commit
oners appointed for the county of Wake,' or to thofe appointed for the counties s
of Burke, Rowan, prange, Halifax, Chowan, Craven, New Hanover or Cum
berland. And if any of the com;iioners by this act appointed, fhall die, re f ufe
to act, pr be abfent from thc-Statc, the Mcmbers of this General Affembly from
the counties wherein fuch commiffif ncrs now refide, fhall appoint feme other dif
crcet and proper perfon, to fill fuch vacancy,; .who fhxll have the fame power and
authorities a? the commiffipnefs appointed by this act, and their receipts fhall be
asjbjnding, and of ike fare force and efficacy as thofe of fuch other cbmmifiiners;
any ihing herein contained to the contrary notwithstanding. The expence of
tranimitting tnr monies ano lublcnpiion trom the ounties relpettiyely, to thecom
miffionersof the counties wherein thir fuperiof courts are held, as before cnaBed,
fhall be defrayed and paid by thefubferibers in each county. And for the trou
ble aiid ex pence of remitting the fubferiptton papers "and monies from the counties .
of; Burkei RowaiiPraige, Halifax, pbowan Craven, ew-Hanover 'and Cum-
berwhdv'ittP..th'e cmnit.mQive.r&tpy .this ad appointed for the county of Wak, the
rnminioners for taut jatl menuonecouiuy iau pay to the commiffionersMrorri
idtljftrict counties, fux:fccotr
A a. jinci ue u jizriTier cnanta, t uai wncn any pprion, copartnermip or body
politic, fhall be indebted to the faid corporation, on any fingle or penal bill, bond
tor note, duly executed or endorfed, or by reafon of the acceptance of any bill
or order, or by any other ways or means whattoever, and mall fail to make pay
ment, the PreGdent, Direclors or Cafhier of the faid Ifank, or any of iti bran
ches, fhall caufe a demand of payment to be made in writing, and ferved on the
party, or left at his or their place of abode ; and if the money fo due mail riot be
paid within ten days thereafter, the faid P re fident, Directors and Cafhicr or anv
I of them, may,.on motion, in anyof the courts of this State, enter or caufe to b(?
entered up judgment againfl fuch delinquent debtor and his or their fecuntiesti in
the fame manner, and under the fame rules, regulations and reltrictions as the
Treafurer is now authorifed to enter up judgments in behalf of the State ; which
judgment fhall be final anaVconclufive, and from which there fhall be no appeal j
any law, ufage or -cuftom to the contrary notwiihftanding.
A AI. And pe it furtner enacted, i nat it any perron man, oy piiiiung,vritzn,
or engraving, or by any other ways or means whatfoever, counterfeit, or atten-H "
to couhterfett, anv of the bills,"notes or checks, emitted by the Prcfident iand Di-
" . . . i - -' .
rectors oF.the Taid Bank, or any part, word, letter, naraet emDiem or aevjee
co
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