damental articles of the constitution of the company hereby TIT. 13. incorporated. constitution 346. I. That the number of votes to which each stockholder A. A. 1810. shall be entitled, shall be in the following proportion, that is Fundamental to say: for four shares one vote; for every four shares above articles of the four and not exceeding twenty, one vote; for every eight of the said shares above twenty and not exceeding sixty, one vote; for company. every twelve shares above sixty and not exceeding one hundred and twenty, one vote; for every sixteen shares, above one hundred and twenty and not exceeding two hundred, one vote; and for every twenty shares above two hundred, one vote: Provided always, That no person, co-partnership or body politic, shall be entitled to a greater number than sixty votes; and no share or shares shall confer a right of suffrage, which shall not have been holden three calendar months previous to the day of election, stockholders actually resident within the United States, and none others, may vote in elections by proxy. 347. II. No person but a stockholder, being a citizen of the United States, shall be eligible as a director. 348. III. The lands, tenements and hereditaments, which it shall be lawful for the said corporation to hold, shall be only such as shall be requisite for its immediate accommodation, in relation to the convenient transacting of its business, and such as have been bona fide mortgaged to it by way of security for debts previously contracted in the course of its dealings, or purchased at sales upon judgments which shall have been obtained. 349. IV. The total amount of the debts which, the said corporation shall at any time owe, whether by bond, bill, notę or contract, shall not exceed three times the amount of its capital, (over and above the monies then actually deposited in the bank for safe keeping) unless the contracting of any greater shall have been previously authorized by a law of this state. In case of excess the directors under whose administration it shall happen, shall be liable for the same in their private capacities, and an action of debt may in such case be brought against them, or any of them, their or any of their heirs, executors or administrators, in any court in this state, having jurisdiction, by any creditor or creditors of the said corporation, and may be prosecuted to judgment and execution, any condition, covenant and agreement to the contrary notwithstanding. 350. But this shall not be construed to exempt the said corporation, or the lands, tenements, goods or chattels of the same from being also liable for, and being chargeable with the said excess; such of the said directors, who may have been absent when said excess was contracted or created, or who may have dissented from the resolution or act whereby the same was contracted or created, may respectively exonerate themselves from being individually liable, by entering, if present, their dissent, on the books of the bank, at the time the debt may be so contracted, and forthwith giving notice of the Ff VOL. II. TIT. 13. A. A. 1810. How the said corporation shall trade. How to proceed in case of the failure of the bank. Bills & notes fact to the stockholders, at a general meeting, which each of the said directors shall have power to call for that purpose. 351. And be it further enacted, That the said corporation shall not be permitted to purchase any public debt whatsoever, nor shall directly nor indirectly, deal or trade in any thing except bills of exchange, gold or silver bullion, or in the sale of goods, really and truly pledged for money lent, and not redeemed in due time, or of goods which shall be the produce of the lands, neither shall the said corporation take more than at the rate of six per centum per annum, for or upon its loans or discounts. 352. And be it further enacted, That in case of the failure of the bank, each stockholder, co-partnership or body politic, having a share or shares therein at the time of such failure, or who have been interested therein at any time within twelve months previous to such failure or bankruptcy, shall be liable and held bound for any sum not exceeding twice the amount of his, her, or their share or subscription; and that the stock of the said corporation shall be assignable and transferable, according to such rules as shall be instituted in that behalf, by the laws and regulations of the said corporation, and that no loan shall be made by the said corporation, to or for the use of any foreign prince, state or government, unless previously authorized by a law of this state. The bills obligatory and of credit, under the seal of the said corporation, which shall be made to any person or persons, shall be assignable by endorsement thereupon, under the hand or hands of such person or persons, and of his, her or their assignee or assignees, and so as absolutely to transfer and vest the property thereof in each and every assignee or assignees successively, and to enable such assignee or assignees to bring and maintain an action thereupon, in his, her or their own name or names. 353. And bills or notes which may be issued by order of the may be issued. said corporation, signed by the president, and countersigned by the principal cashier or treasurer thereof, promising the payment of money to any person or persons, his, her or their order, or to the bearer, though not under the seal of the said corporation, shall be binding and obligatory upon the said corporation, in like manner, and with the like force and effect, as upon any private person or persons, if issued by him, her or them, in his, her or their private or natural capacity or capacities; and shall be assignable and negotiable in like manner as if they were so issued by such private person or persons, that is to say; those which shall be payable to any person or persons, his, her or their order, shall be assigned by endorsement, in like manner and with like effect as foreign bills of exchange now are, and those which are payable to bearer, shall be negotiable and assignable by delivery only. Dividends, when to be made. 354. Dividends shall be made at least once in each year, by the said corporation, of so much of the profits of the bank as shall appear to the directors adviseable; and once in every three years the directors shall lay before the stockholders, at a general meeting, for their information, the amount of surplus profits, if any, after deducting losses and dividends. ticles contra 355. And be it enacted, That if the said corporation, or any TIT. 13. person or persons, for or to the use of the said corporation, shall deal or trade in buying or selling any goods, wares, mer- A. A. 1810. chandizes or commodities whatsoever, contrary to the provi- Penalty for sions of this act, all and every person and persons by whom trading in arany order or direction for so dealing or trading shall have ry to the pro. been given, and all and every person or persons who shall visions of this have been concerned (after the passing of this act) as parties act. or agents therein, shall forfeit and lose treble the value of the goods, wares, merchandizes and commodities in which such dealing have been; one half thereof to the use of the informer, and the other half thereof to the use of this state, to be recovered with cost of suit. tioned. 356. And be it further enacted, That in case a greater sum Shares subthan one million of dollars be subscribed, the commissioners scribed, how in Charleston, in apportioning the shares, shall not take from to be apporthose who have subscribed only four shares, unless they cannot reduce the same sufficiently otherwise; and no share subscribed for shall be delivered to any person without an order, signed by the person in whose name it is subscribed, and witnessed by a justice of the quorum or of the peace. the state. 357. And be it further enacted, That the bank hereby in- 800 shares to tended to be incorporated, shall not be so incorporated, or de- be given to rive any benefit or advantage from any of the clauses or provisions in this act contained, unless it shall transfer or cause to be transferred to the treasurer of the lower division, for the benefit of the state, eight hundred shares of the stock of the said bank, on or before the first day in November next. 358. And be it further enacted, That in case of the failure In case of the or bankruptcy of the said bank, the state aforesaid shall not failure of the (any clause or provision in this act to the contrary notwith- said bank, the standing) be liable or held bound to pay any portion or part be liable. of any sum or sums of money, for which the said bank shall or may fail or become bankrupt. state not to 359. And be it further enacted, That the capital of the said Capital divid. bank shall be divided into forty thousand shares, at twenty- ed into forty ty-five dollars each, and five dollars shall be paid on each thousand share at the time of subscribing, and the remaining twenty dol- shares. lars due on each share, shall be paid in four equal instalments, on the first Mondays of June, September, December and March following; and all shares on which the payments due shall not be punctually made on the days above mentioned, shall be forfeited, with whatever sums may have been paid upon them. the state. 360. And be it further enacted, That it shall be lawful for The directors. the directors aforesaid, to establish offices wheresoever they may establish shall think fit within the state of South-Carolina, for the pur- offices in difposes of discount and deposit only, and upon the same terms, ferent parts of and in the same manner as shall be practised at the principal bank, and to commit the management of the said offices and the making of the said discounts to such persons, under such agreements, and subject to such regulations as they shall deem proper, not being contrary to the law or the constitution of the said bank. TIT. 13. A. A. 1810. Branches of the said bank to be estab lished at Co Jumbia or S61. And be it further enacted, That a majority of the stockholders shall, whenever they deem the same proper, have a right to establish branches of the said bank at Columbia or Camden, or at any other town or place within the state. 362. And be it further enacted, That from and after the first day of January, one thousand eight hundred and thirty-two, the said corporation shall be, and is hereby dissolved; and that any monies or profits, which on such or any other dissoSaid corpora- lution of said corporation, may at the time be owned or postion to be dis-sessed by it, shall be held by the directors of the said corpo ration, for the use and benefit of all persons holding shares in said corporation in average proportion to the number of amount of the said shares. solved January 1, 1832. Said bank ex 363. And be it further enacted, That the said bank shall empted from be, and is hereby declared to be exempted from all taxes, for the time it is by this act incorporated. tax. The Charles ton Neck Society, incorporated. The Philhar 364. Be it enacted, That Langdon Cheves, Richard H. Peyton, John Dixon, Eben Butman, and the several persons who now are or hereafter shall be members of the Charleston Neck Society, and their successors, members and officers thereof, shall be and are hereby declared a body corporate and politic, in deed and in name, by the name and style of "the Charleston Neck Society;" and by the said name shall have perpetual succession of officers and members, and a common seal, with power to alter, change and make new the same, as often as the said corporation shall judge necessary. 365. And be it further enacted, That R. Leaumont, L. D. monic Society Villers, Charles Gilfert, Ph. Muck, Daniel Remoussin, E. of South-Car- Guilbert, S. Labatut, Augustus Remoussin, Arnold Remousolina, incor- sin, and the several persons who now are or shall hereafter porated. be members of the Philharmonic Society, and their successors, members and officers thereof, shall be and are hereby declared to be a body corporate and politic, in deed and in law, by the name and style of "the Philharmonic Society of SouthCarolina ;" and by the said name shall have perpetual succession of officers and members, and a common seal, with power to alter, change, and make new the same, as often as the said corporation shall judge necessary. Corporate powers and capacities. 366. Be it also enacted, That the said several corporations respectively, shall be able and capable in law, to purchase, have, hold, receive, enjoy and retain to itself in perpetuity, or for any term of years, any lands, tenements and hereditaments, of what kind or nature soever, not exceeding the annual income of five thousand dollars; and to sell, alien or lease the same, as they shall think proper; and by its said name to sue and be sued, implead and be impleaded, answer and be answered unto, in any court of law or equity in this state, and to make such rules and by-laws, not repugnant and contrary to the laws of the land, as for the order, rule, good government and management thereof, may be thought necessary. 367. And be it further enacted, That it shall and may be lawful for the said corporations respectively, to take, and hold, and receive, enjoy, possess and retain, all such estates, TIT. 13. real or personal, money, goods, chattels and effects, which 368. And be it further enacted, That it shall and may be lawful for the said corporations to take and for ever hold any charitable donations or devises and bequests of land, not exceeding ten thousand dollars, and personal estates not exceeding the value of fifteen thousand dollars; and to appropriate the same to the benefit of the said corporations respectively. 369. And whereas, Cherry Moise, P. Cohen and David Lo- The Abi Yepez, in behalf of Abi Yetomim Ubne Ebyonim, or society for tomim Ubne the relief of orphans and children of indigent parents, have by Ebyonim Society, capacitheir petition, prayed that the said society may be enabled to tated to hold hold funds to a greater amount than their present charter authorizes : Be it therefore enacted, That the said society may have, hold, enjoy and retain to itself in perpetuity, or for any term of years, any lands, tenements or hereditaments, or other property, of what kind or nature soever, not exceeding the sum of twenty-five thousand dollars. lands, &c. in perpetuity. 370. And be it further enacted, That William M'Creight, Sion Church James Beaty, Thomas Russel, Samuel Johnston, Andrew of the town of Crawford, Hugh Barkley, Creighton Buchannan, John Bark- Winnsboley, James Elliot, Thomas M'Cauley, David R. Evans, Caleb rough, incorClarke, James F. Muse, David Aikin, Robert Bones, James porated. Workman, John Allen and David Jamison, in behalf of themselves and others, members of the Presbyterian church in the town of Winnsborough, have petitioned the legislature to be incorporated, by the name and style of Sion Church of the town of Winnsborough, to be authorized to raise a sum of money by lottery, in aid of building a church, and for the sale of a lot of land in the town of Winnsborough, reserved by the proprietors of the lands of the said town for the use of a church, and for the application of the monies arising from such sale, towards defraying the expenses of building a church: 371. Be it therefore enacted, That all those persons who now are or hereafter may become members of the said church, shall be, and they are hereby incorporated as a body politic and corporate, and shall be known in deed and in law, by the name of "Sion Church of the town of Winnsborough." 372. And be it further enacted, That the said corporation, Powers and by its name aforesaid, shall have a succession of officers and capacities. members, to be appointed or elected in such manner and according to such form as may be provided by the rules and regulations now existing, or hereafter to be made for the regulation of the said church, and that they shall have a common seal, with power to alter the same, together with the said rules or regulations, in such manner and as often as they shall deem necessary. 373. And be it further enacted, That the said corporation shall be capable in law, to purchase, have, hold and enjoy any |