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PUBLISHED IN CONFORMITY WITH A RESOLUTION OF THE GENERAL
State of Connecticut, ss.
GENERAL ASSEMBLY OF THE
STATE OF CONNECTICUT,
PASSED AT THE MAY SESSION, 1849.
At a General Assembly of the State of Connecticut, holden at
Hartford, in said State, on the first Wednesday of May, in the year of our Lord one thousand eight hundred and forty-nine :
CONCERNING APPOINTMENTS OF JUDICIAL OFFICERS, MADE BY THIS
Resolved, That all appointments of judges and justices of the peace made by this Assembly at its present session, prior to or on the 20th day of June, 1849, shall take effect on that day, and all such appointments made after said day, shall take effect on the rising of this Assembly.
INCORPORATING THE STATE BANK, IN HARTFORD.
Sec. 1. Be it enacted by the Senate and House of Representatives in General Assembly convened, That the stockholders of the Hartford County Bank, their successors and assigns, shall be and remain a body politic and corporate by the name of the Hartford County Bank, to be located and established in the
city of Hartford, and by that name shall be capable in law to purchase and hold all kinds of property, real and personal, and the same at pleasure to sell and convey, to sue and be sued, in all courts whatsoever, to have and to use a com-' mon seal such as they may devise, to make and carry into effect all such by-laws and regulations as may be deemed expedient for the proper management of the affairs of the corporation, not repugnant to their charter, the laws of the State, or of the United States, and generally, to do and cause to be executed all such acts and things as to them may appertain, subject to the provisions herein contained. Provided, that the president and directors of said bank shall pay into the treasury of this State the sum of ten thousand dollars, as a bonus, which sum shall be appropriated to the support of a normal school in this State, in such ways and at such place as shall be provided by the Legislature.
Sec. 2. The capital stock of said bank shall consist of four thousand shares, each share being one hundred dollars, which shall be transferable according to such rules as may be established by the directors. That at the time of sub- , scribing the stock to said bank, there shall be paid in gold and silver or in bank notes of any bank in the State of Connecticut, provided they shall be at par value in this State, twenty-five dollars on each share of the stock of said bank, and a like sum of twenty-five dollars on each of said shares ninety days thereafter, and the sum of ten dollars on each of said shares at the expiration of every ninety days thereafter, until the whole amount so subscribed to such capital stock shall have been paid in ; that the said corporation shall not commence the business of banking until one-half of the capital stock so subscribed shall have actually been paid in, nor shall said corporation loan to any individual, copartnership or corporation a sum exceeding ten per cent. of the capital stock actually paid in at the time of such loan.
Sec. 3. The subscriptions towards constituting the capi
tal stock of said bank shall be opened in the city of Hartford on the first Tuesday of July, A. D. eighteen hundred and forty-nine, under the superintendence of five commissioners, viz. :-Seth P. Beers, Henry J. Sanford, William Field, William Mather and Thomas Cowles; or at such other time or times as said commissioners shall deem necessary and proper, and of which they shall give fifteen days' . notice in three of the newspapers published in said city of Hartford. If the subscriptions to the capital stock of said bank shall exceed four thousand shares, the commissioners shall reduce the number of shares to four thousand shares : for which it shall be their duty to make all necessary inquiries, and to apportion the shares in such manner and to such persons as to them may appear proper, having regard to the interests of the bank and the accommodation of the public. In case of failure to pay the first instalment the subscription shall be void ; and in case of failure to pay the second instalment the first shall be forfeited to the bank; and in case of failure to pay any subsequent instalment the party so failing to pay shall lose the benefit of any dividend which may be made during the time said payment shall have been delayed. Said commissioners after they shall have apportioned the capital stock of said bank shall immediately call the first meeting of the stockholders for the purpose of choosing directors of the bank, who when chosen shall continue in office until the first annual meeting of the stockholders, which shall be held in the city of Hartford, on the first Tuesday of October in each year.
SEC. 4. For the well ordering of the affairs of the corporation there shall be nine directors, who shall be elected annually, by the stockholders in general meeting : none but stockholders shall be eligible as directors, and no person shall be a director in said bank who shall own less than thirty shares of the stock. At their first meeting after each election the directors shall choose one of their number for president, and whenever the place of president or director