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.

And be it further enacted by the authority aforesaid, That said Insurance Bank shall be bound to pay all losses on property or other assurances made by them within six months after the happening thereof; and in all cases where the clai-. mant 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; and if the said company shall neglect or refuse to pay such losses within the said six months (if the same be demanded) where there is no dispute as to the amount claimed, or within ten days after a final recovery against them in cases disputed, this charter may be declared null and void.

And be it further enacted be the authority aforesaid, That the said company shall have power to receive, hold, purchase, and possess any property, real or personal, for the use, 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.

And be it further enacted by the authority aforesaid, That the following shall form and be fundamental articles of the Constitution of said Corporation.

1st. The number of votes to which cach stockholder shall be entitled, at any meeting or election, shall be according to the number of shares he shall hold, each share to be entitled. to one vote: Provided, That no share or shares shall confer a right of suffrage, unless the same shall have been holden three Calendar months previously to the day of election, and unless it be holden by the person in whose name it appears, absolutely and bona fide in his own right or in that of his wife, and for his or her sole use and benefit, or as executor, administrator or guardian, or in the right of some co-partnership, corporation or society of which he or she may be a member, and not in trust for, or to the use of any other person; any stockholder being absent, may authorise by power of attorney under seal, any other stockholder to vote for him, her, or them.

2nd. None but a stockholder entitled in his own right to fifty shares, and being a cititizen of the State, and not being a director of any other Bank, shall be eligible as a director, and if any one of the directors after being elected shall at any time during the term for which he shall have been chosen, cease to be a stockholder, his seat shall thereupon become vacated.

3rd. The stockholders shall make such compensation to the President as shall to them appear reasonable.

4th. A number of stockholders-not less than twenty, who, together, shall be proprietors of two hundred shares or upwards, shall have power at any time to call a meeting of the stockholders for the purposes relative to the institution, by giving at least sixty days notice in the public gazettes, specifying the object or objects of such meeting.

5th. The Cashier of the Bank for the time being, before he enters upon the duties of his office, shall give bond with two or more securities to the satisfaction of the directors in the sum of twenty thousand dollars, with condition for his good behaviour and the faithful discharge of his duties.

6th. The directors shall have power to issue to the subscribers their certificates of stock, which shall be transferable on the books of the Cashier only, by personal entry of the stockholder, his legal representative or attorney, duly authorised by special power for that purpose.

7th. The bills obligatory and of credit, notes and other contracts whatsoever, on behalf of the said Corporation, shall be binding and obligatory upon the said companý: Provided, the same be'.signed by the President and countersigned by the Cashier of the said Corporation, and the funds of said Corporation shall in no case be held liable for any contract or engagement whatever, unless the same be so signed and countersigned as aforesaid; and the books, papers and correspondence, and the funds of the company shall at all times be subject to the inspection of the board of directors and stockholders when convened, according to the provisions of this act.

8th. Dividends of the profits of the Corporation or so much thereof, as may be deemed expedient and proper, shall be declared and paid half yearly, (the first half after the Bank shall be in operation excepted,) and the said dividends shall be determined from time to time, by a majority of the direc

tors at a meeting to be held for that purpose, and shall in no case exceed the amount of the nett profits actually acquired by the Corporation, so that the capital stock .thereof, shall never be impaired.

9th. The directors shall keep fair and regular entries in a book to be kept for that purpose, of their proceedings, and these minutes be at all times on demand produced to the stockholders when at a general meeting the same shall be required.

10th. The persons and property of the stockholders, shall be pledged and held bound in proportion to the amount of the value of the shares that each individual or company may hold in said Bank, for the ultimate redemption of the bills or notes issued by or from said Bank, in the same manner as in common commercial cases or simple actions of debt.

And be it further ́ enacted by the authority aforesaid, That said Insurance Bank shall be at liberty to establish branches or offices of discount and deposit and Insurance, not exceeding three in number, at such places and at such times as a majority of the stockholders may deem suitable and proper, and at their option to discontinue, the same.

And be it further enacted by the authority aforesaid, That said Corporation shall exist and continue for the term of thirty years from the passage of this act, unless the same should be forfeited according to the provisions thereof.

And be it further enacted, That the real and personal property, of each stockholder, who is now or may hereafter at any time become stockholders, either by original subscription or transfer, shall be held and deemed liable for all Insurances or debts made or due by said Bank.

And be it further enacted, That said Bank shall not commence issuing bills or notes, or take Insurance on property until fifty per cent. of its capital stock shall be paid in, in specic; and upon refusal of said bank to pay specie for its bills or notes when demanded, shall pay at, and after the rate of ten per cent. damages, per annum, upon the amount so refused payment, over and above the lawful interest accruing thereon, and the same shall be sued for, and recovered in any court having jurisdiction of the same.

ASBURY HULL,

Speaker of the House of Representatives.
THOMAS STOCKS,

Assented to, Dec. 26, 1831.

President of the Senate.

WILSON LUMPKIN, Governor.

1

AN ACT to Incorporate a Banking Company in the Town of Hawkinsville.

Sec. 1. Be it enacted by the Senate and House of Representatives of the State of Georgia, in General Assembly met, and by the authority of the same it is hereby enacted, That a Bank shall be established in the Town of Hawkinsville, the Capital stock whereof, shall be two hundred thousand dollars, to be divided into shares of one hundred dollars each; and also, with the privilege of increasing the said Capital at any time thereafter as the stockholders may desire, to the sum of Four hundred thousand dollars to be divided into shares as aforesaid.

Sec. 2. And be it further enacted, That Subscriptions for constituting the Capital of said Bank, shall be opened on the first Tuesday in February next, in the Town of Hawkinsville under the superintendence of Robert N. Taylor, Delamar Clayton, and David B. Halsted, for Eight hundred Shares.

In the Town of Perry, under the superintendence of Abner Wimberly, Carlton Welborn, and Arthur A. Morgan, for four hundred shares.

In the Town of Marion, under the superintendence of Ira E. Dupree, Larkin Griffin, and William Solomon, for four hundred shares.

In the Town of Dublin, under the superintendence of Eli Warren, Charles S. Guyton, and John Louther, for two hundred shares.

In the Town of Berrien, under the superintendence of David Graham, James Powell, and Thomas H. Key, for two hundred shares.

A majority of whom at each place shall be competent to the discharge of their duties, and the books of subscription shall be kept open for the space of two days at each place, (unless the number of shares allotted to each place shall be sooner subscribed for, in which event it shall be the duty of the Commissioners to close the books) during which time, it shall and may be lawful for any person being a citizen of the United States in person only and not by proxy, to subscribe for any number of shares not exceeding Fifty.

Provided, That if the whole number of shares be not taken up as aforesaid, it shall and may be lawful for any person, or copartnership, corporation, or body politick, (Banking Institutions excepted,) to subscribe for any number of shares unsubscribed for as aforesaid, and the sum's subscribed for shall be payable in manner following: Five per cent at the time of subscribing, and Twenty per cent at the expiraration of three months thereafter, and the balance of Seventyfive per cent, at such times as the same shall be required by the directors. Provided, That Sixty days notice of the time. at which such payment is required to be made, be given in one of the Public Gazettes of Macon and Milledgeville, and Provided, That no payment shall be required to be made on stock at any time between the first day of July and the first day of November, in any one year.

Sec. 3. And be it further enacted, That if there shall be any failure in the payment, for any of the shares subscribed for by any person, copartnership, or body politic, when required according to the provisions of this act, the said share or shares for the failure aforesaid, shall become forfeited and may be again sold or disposed of as the directors shall order and provide, and the proceeds of the sale, and the sum or sums which may have been paid thereon, shall revert to the benefit of said corporation.

Sec. 4. And be it further enacted, That all those who shall become subcribers for the shares in said Bank, their successors and assigns shall be, and they are hereby created and constituted a body Politic by the name and style of "the Bank of Hawkinsville;" and by that name shall be and are hereby made able and capable in Law, to have, purchased, receive, possess, enjoy, and retain to them and their successors, lands, rents, tenements, hereditaments, goods, chattels, and effects, whatsoever kind, nature, or quality the same may be, and the same to sell, grant, demise, alien, or dispose of, to sue and be sued, plead and be impleaded, answer and be answered, defend and be defended in Courts of Record, or in any other place whatsoever; and also, to make and have a Common Seal, and the same to break, alter and renew at their pleasure, and also, to ordain, establish, and put in execution such Bye Laws, Rules and Regulations, as shall be necessary and convenient for the Government of said Corporation: Provided, they be not repugnant to the Laws and Constitution of this State or of the United States.

Sec. 5. That for the well ordering of the affairs of the said Corporation, there shall be seven directors, who shall