Shall sell all undrawn and forfeited lands, now and in future. Preamble. obligations with the clerks of said Bank, an additional clerk to be styled and known as the Teller of said Bank, with a salary of $1,000 per annum, payable as the salaries of other officers now are, and to assign him such part or portion of the labors of said Bank, as may in their judgment be most advisable; who shall be appointed and hold his office in like manner and under the same tenure with the other officers in said Bank. An Act to alter and amend the tenth section of an act passed 19th December, 1829, in relation to the Central Bank of Georgia, and to provide for the sale and disposition of lands forfeited to the State.Approved Dec. 23, 1833. Pam. 37. 168. From and after the passage of this act it shall be the duty of the president and directors of the Central Bank of Georgia, to cause all the lands which have been or may hereafter be forfeited to the State, and all lands which were intended to be disposed of but were not drawn for in the several land lotteries of the State, to be sold at public outcry, before the court house, at the following places, to wit: Hawkinsville, Macon, Columbus, Newnan, Campbell-town, and La Grange, between the usual hours of sheriff's sales, on such days as the said directors may deem best: Provided, always, that sixty days previous notice of the time and place of such intended sale, with a description of each tract of land intended to be sold, shall first be published in one of the gazettes printed in the circuit in which such land may be situated, if there be such gazette, and also in the gazettes in Milledgeville: Provided, in all cases, that the purchaser or person holding the certificate, shall be allowed to stop the sale by coming forward and paying up the principal with all interest due the State for such forfeited lots or fractions; and grants shall issue to the holders of such certificates in the usual way, as though such lots had not been forfeited: Provided, also, no sale be advertised previous to the first day of March next: Provided, also, they come forward and pay up before the day of sales. Sec. II. That all laws and parts of laws militating against this act are hereby repealed. SAVINGS BANK OF AUGUSTA. An Act to incorporate the Savings Bank of Augusta.-Approved Whereas a number of the citizens of Augusta and its neighborhood, under the title of "The Augusta Savings Bank," have voluntarily associated themselves as a society, for the sole purpose of receiving and investing in public stock and substantial security on real estate, or otherwise, such sums as may be deposited by individuals, and of affording to them the advantages of security and interest; and whereas the members of this society, by their memorial to the Legislature, have prayed to be perpetuated and brought into legal existence by being incorporated and established by law, with perpetual succession, for the purposes of receiving, holding, and improving in such way as to them may seem proper, all such real and personal estate as the said institution shall become possessed of or entitled to, by gift, grant, devise, bequest, purchase, deposite, loan, and payment, for the purposes of the said institution; therefore, 169. Be it enacted, That John Campbell, Thos. Cumming, Samuel rators, and Hale, Isaac Henry, Timothy Edwards, Edward F. Campbell, James The corpoFraser, Wm. W. Montgomery, Joseph Wheeler, Anderson Watkins, their names. Asaph Waterman, Augustus Moore, Henry Cumming, John Howard, Wm. H. Turpin, John Course, Richard Tubman, John Phinizy, George Twiggs, John Moore, and James Harper, and their successors in office for ever, be, and they are hereby erected and made one body politic and corporate, in deed and in law, by the name, style, and title of" the Augusta Savings Bank;" and by the same name shall consti- Its style. tute a board of appointment, having perpetual succession, with power annually on the second Monday of January, in each and every year, to The Board to be annually elect a board consisting of seven managers, for the regulation of the elected. concerns of the said Savings Bank; and are hereby made able and capable in law to have, purchase, receive, take, hold, possess, enjoy, and Their priviretain, to them and their successors, lands, rents, tenements, heredita- leges. ments, stock, goods, chattels, and effects, of what kind, nature, or quality soever, whether real, personal, or mixed, by gift, grant, demise, bargain, and sale, demise, bequest, testament, legacy, loan, deposite, or advance, or by any other mode of conveyance or transfer whatever; and the same to give, grant, bargain, sell, demise, convey, assure, transfer, alien, pay, release, and dispose of, for the whole or any less estate or property than they have in the same, and also to improve and augment the same, in such manner and form as said society, by their by-laws and regulations, shall order and direct; and shall and may apply the same, with the rents, issues, income, interest, and profits of such estate, and the moneys arising from the sale, alienation, disposal, or employment thereof, to the uses, ends, and purposes of their institution, according to the rules, regulations, and orders of their society now in force, or which, according to the provisions hereinafter made, shall from time to time be declared touching the same, as effectually and fully as any person or body politic or corporate within this State, by the constitution and laws of this State, can do and perform and the said institution, by the name, style, and title aforesaid, shall and Powers and may sue and be sued, plead and be impleaded, answer and be answered, defend and be defended, in courts of law within this State and elsewhere; and also make, have, and use a common seal, and the same break, alter, and renew at their pleasure; and shall have power also to make, establish, ordain, and put in execution such byJaws, ordinances, and regulations as shall to them, or a majority of such quorum of them (as has already or shall hereafter be directed), seem meet or convenient for the government of such corporation, not being contrary to the constitution and laws of this State; and generally to do and execute all and singular such acts, matters, and things which to the said corporation shall or may appertain and be necessary for the purposes thereof; subject nevertheless to the rules, regulations, restrictions, limitations, and provisions herein prescribed and declared. 170. Sec. II. And be it further enacted by the authority aforesaid, Fundamental That the following rules, limitations, and provisions shall form and be rules. fundamental articles of the constitution of the corporation. liabilities. annually a cancies. ARTICLE I.-The board of appointment shall have power each year Shall choose to choose, by ballot, from its own body, a president and other officers, President, at the time of their annual meeting on the second Monday of January, and fill vaand also to fill all vacancies which may occur among them by death, resignation, or otherwise; and at such meeting eleven members shall constitute a quorum. be seven ARTICLE II.-The bank shall be conducted by seven managers, There shall chosen annually by the board of appointment, who shall, each and every Managers year, at such time as shall be designated in the by-laws of the institu- chosen annually, from which number a Presi tion, choose from among its own body a president, and shall have dent shall be power to appoint a secretary, treasurer, and such other officers as the business of the corporation may require, with such compensation as they may determine. chosen. To fill all vacancies. ARTICLE III. The managers shall have power to fill up by ballot any vacancy which may occur in their own body or officers, two-thirds of the number present to agree to all removals and new appointments; and no appointment or removal to take place when a less number than five managers are present. ARTICLE IV.-No president or manager shall receive, directly or indirectly, any pay or emolument for his services. ARTICLE V.-Deposites of not less than two dollars, but of any larger sum, shall be received. ARTICLE VI.-On the first Monday of June and December in every year, if the funds of the institution shall warrant it, there shall be declared and paid a dividend on all sums which shall have been deposited, at such rate of interest as the board of managers shall direct; interest to be calculated only from the first day of January, April, July, and October, in each year, and not having relation to the time of deposite, provided deposites shall be made at any intermediate period between those dates, nor shall interest be allowed for fractional parts of a month. ARTICLE VII. The deposites and payments shall be regularly entered in the books of the office, and every person depositing money shall be furnished with a duplicate of his or her account, in which every deposite or payment shall be regularly entered as soon as made: no money shall be drawn out under five dollars, unless to close an account; and all deposites shall be repaid when required, on giving two weeks' notice. ARTICLE VIII.-The managers shall meet at least once in every month, and five shall be a quorum; except in the months of July, AuThree shall gust, and September, when three members shall constitute a quorum for the transaction of business: the books, treasurer's accounts, and other documents, shall be produced at such meetings. constitute a quorum. May refuse or return deposites. A report shall be made annually, and published. No Manager cer allowed to borrow. ARTICLE IX.-The managers shall be at liberty, at any time, to refuse deposites; and, on giving one month's notice, to return such as have been made, with interest thereon, to be calculated to that time, and no longer. ARTICLE X.-A report shall annually be prepared by three auditors, who shall not be managers or officers of the corporation, chosen by the board of appointment from their body or elsewhere, and such report shall be published in one or more of the gazettes of the city of Augusta; and the managers shall annually transmit one copy of the said report to the governor, and by him to be laid before the legislature of the State of Georgia. ARTICLE XI.-No manager, officer, or agent of the Savings Bank or other offi- shall be allowed directly or indirectly to borrow any money or moneys from the said bank; nor shall the said bank have, hold, or purchase any notes, bonds, mortgages, or other securities for the payment of money drawn or endorsed by, or existing against, any manager, officer, or agent of the said Savings Bank. Officers to continue until others ARTICLE XII.-The officers elected pursuant to this act shall be and continue in office until others be appointed; and no misnomer of are appoint the said corporation in any deed, testament, or gift, grant, demise, or other instrument, or other contract or conveyance, shall vitiate or defeat the same, if the said corporation shall be sufficiently described to ascertain the intent of the party or parties to give, demise, bequeath, ed. No misnomer to affect. &c. assure to, or contract with the corporation hereby created by the name aforesaid nor shall any non-uses of the said privileges hereby granted create any forfeiture of the same; but such privileges may be exer- Privileges, cised by the said corporation, notwithstanding any failure to meet at any of the times appointed herein, or that may be appointed by the bylaws and ordinances of the said society, for the purpose of holding their annual or other meetings, for elections or for other subjects for consideration: the officers then in office shall continue to hold and exercise their respective offices until others shall be duly elected to succeed them at some future meeting of the said institution, which the said corporation is hereby authorized to hold for such purpose. AUGUSTA INSURANCE AND BANKING COMPANY. An Act to incorporate the Augusta Insurance and Banking Company of the City of Augusta, and to repeal the Act passed on the ninth day of December, eighteen hundred and twenty-two.-Approved Dec. 26, 1827. Vol. IV. 79. scription, &c. 171. Peter Bennock, James Harper, John Bones, Charles Labu- Corporators. zan, Anderson Watkins, Edward J. Harden, W. W. Montgomery, Samuel Hale, and Abraham M. Woolsey, or any three or more of them, be, and they are hereby constituted a board of commissioners, whose duty it shall be to open a book of subscription for shares in said Shall open a company; which book shall be opened on the first Monday in Febru- book of subary next, and shall continue open for twenty days, at such place, and for so many hours each day, as the said board of commissioners may determine on; during which time it shall be lawful for any person or persons, citizens of this State, to subscribe for any number of shares not exceeding one hundred; and if the whole amount of capital hereinafter mentioned be not subscribed for at the expiration of said twenty days, it shall then be lawful for any citizen or citizens, or for any corporation or body politic within this State, to subscribe for any number of shares remaining unsubscribed for. Sec. II. [Notice to be given, and amount to be paid on subscribing. -Temporary.] porate. &c. 172. Sec. III. The stockholders in said institution shall be, and Declared a they are hereby declared to be, a body corporate and politic, under the body corname and style of "the Augusta Insurance and Banking Company;" Its style. and by that name and style may sue and be sued, plead and be im- Privileges, pleaded, answer and be answered unto, in any court of law or equity in this State, or elsewhere, having competent jurisdiction; and shall enjoy perpetual succession of officers and members, may have and use a common seal, may make, ordain, and establish such by-laws, rules, Make byand regulations as they may deem expedient and necessary to carry laws, &c. into effect the objects of this institution; Provided, such by-laws, rules Proviso. [ordinances, and regulations be not repugnant to the laws or constitution of this State, or the United States. $100,000 in 173. Sec. IV. The capital stock of said company shall not exceed Capital. $500,000, which shall be divided into shares of $100; but the company may commence business as soon as $100,000 in specie, or the May comnotes of specie-paying banks, shall have been paid; and that upon the mence when expiration of the said twenty days hereinbefore allowed for subscribing, specie is it shall be the duty of said commissioners to convene the stockholders or subscribers, by giving ten days' notice in the public newspapers of Augusta, of the time and place of meeting, who may then or at any paid. Election of time thereafter proceed to the election of a board of directors, under Directors. such rules and regulations as they may adopt for that purpose. President and other officers 174. Sec. V. The directors so appointed shall, at their first meetto be elected, ing thereafter, proceed to the appointment of a president from among their own body; and the said president and directors may appoint such officers under them, as they may deem necessary and expedient for carrying the provisions of [this] act into effect. May insure. Payment of losses. Interest. charter. 175. Sec. VI. The said company, when organized as aforesaid, shall have full power and authority to insure property and effects of every nature and description, against losses by fire or water, and all other accidents, dangers, and casualties, for which insurance companies are usually established, or to buy or sell life annuities. 176. Sec. VII. Said company shall be bound to pay all losses on property or other assurances made by them, within six months after Trials at law. the happening thereof. And in all cases, when the claimant shall be compelled to institute a suit for the recovery of such losses, the same shall stand in order for trial at the first term, and the amount recovered shall be on interest from and after the expiration of the said six months; Forfeiture of and if the said company shall neglect or refuse to pay such losses within the said six months, when there is no dispute as to the amount claimed, or within ten days after final recovery against them in cases disputed, then, and in such event, this charter may be declared null and void. May hold pro- 177. Sec. VIII. The said company shall have power to receive, perty, real and personal, hold, purchase, and possess any property, real or personal, for the use, and dispose benefit, or advantage of the said corporation, and to sell and dispose of the same, and they are hereby declared to be vested with all the powers, advantages, privileges, and emoluments of an association of persons incorporated for the intentions and purposes aforesaid. of it. Corporation to continue 30 years. May issue bills. Payable on demand. Repealing clause. May issue 178. Sec. IX. The said corporation shall and may continue for and during the term of thirty years from the passage of this act, unless the same should be forfeited according to the provisions thereof. 179. Sec. X. Said company shall be permitted, and they are hereby authorized to issue bills or notes of credit, payable to bearer on demand, signed by the president, and countersigned or attested by the cashier, to the amount of the capital stock paid in; Provided, that no bills of credit shall be issued as aforesaid, unless by consent of the owners of three-fifths of the stock of said company. 180. Sec. XI. All bills or notes of credit issued as aforesaid shall be paid on demand at the company's office. 181. Sec. XII. An act, entitled an Act to incorporate the Georgia Mutual Insurance Company, and to repeal the act heretofore passed for that purpose, which was assented to on the 9th day of December, 1822, is hereby repealed. An Act to amend an act entitled an act to charter the Augusta Insurance and Banking Company, passed on the 26th day of December, 1827.-Approved Dec. 27, 1831. Pam. 45. 182. Sec. I. From and after the passing of this act, the Augusta bills to double Insurance and Banking Company shall be permitted, and they are the amount paid in. hereby authorized, to issue bank bills or notes, payable to bearer on demand, signed by the president and countersigned or attested by the cashier, to double the amount of the capital stock paid, or which shall hereafter be paid in by the stock holders. 183. Sec. II. So much of the act passed on the 26th day of December, 1827, creating the Augusta Insurance and Banking Company, is hereby repealed. |