1828.

A. A. 1828, p. 21.

S. L. vol. 8, p. 57.

AN ACT TO REPEAL AN ACT ENTITLED "AN ACT TO ADMIT
AND INCORPORATE PRIVATE STOCKHOLDERS IN THE BANK OF
THE STATE OF SOUTH CAROLINA."

I. Be it enacted, by the Senate and House of Representatives, now met and sitting in General Assembly, and by the authority of the same, That an Act of Assembly, passed on the nineteenth day of December, one thousand eight hundred and twenty-seven, entitled "An Act to admit and Incorporate private Stockholders in the Bank of the State of South Carolina," be, and the same is hereby, repealed.

A. A. 1830, p. 29.

S. L. Vol. 6. p. 420.

Branch to be established at Hamburg.

AN ACT TO AUTHORIZE THE PRESIDENT AND DIRECTORS OF THE
BANK OF THE STATE OF SOUTH CAROLINA TO ESTABLISH A
BRANCH OF THE SAID BANK AT HAMBURG.

I. Be it enacted, by the Senate and House of Representatives, That the President and Directors of the Bank of the State of South Carolina shall, whenever they may deem it expedient, establish a branch of the said Bank, or an Agency, at the town of Hamburg, with like powers and authority, and in like manner, as the branch now established at Columbia.

A. A. 1831, p. 49.

S. L. vol. 8, p. 64.

Members of the Boards to

be notified when chosen

AN ACT CONCERNING THE BANK OF THE STATE OF SOUTH
CAROLINA.

I. Be it enacted, by the Honorable the Senate and House of Representatives, now met and sitting in General Assembly, and by the authority of the same, That from and immediately after the passing of this Act, all Directors who may be chosen by the Legislature to serve in the parent Bank, shall take their seats and become members of the said Board, as soon after the rising of the Legislature as they shall be notified of their appointment; and that it shall be the duty of the President to give the information by the earliest mode of conveyance.

II. Be it further enacted, That the following oath shall, in future, be administered to each and every member of all the Oath to be tadifferent boards of directors, and to each President of the said boards, before they take their seats.

ken by President and Di rectors of each Board.

"I, A. B. do solemnly swear (or affirm) that I will not, either directly or indirectly, reveal or disclose any transaction or circumstance which may occur at the board or elsewhere, in any discharge of my official duties, either while I

am a member of this Board, or after I shall cease to be such, which can in any degree affect the credit of an individual, or the interest of the Bank, except it be to the Legislature, or any examining committee appointed by them; and that I will not retain in my possession any paper, document, or statement, or copy thereof, which may relate to the concerns of the Bank, longer than may be necessary to discharge any duty which may be imposed on me, (rendering the possession of the said paper, document or statement necessary,) and that while in my possession, they shall be kept safely and secretly, and when the duty is performed, returned to the proper officer. So help me God."

III. Be it further enacted, That the following oath be administered to all the other officers of the Bank and its Branches now in office, or who may hereafter be elected.

1831.

"I, A. B. solemnly swear (or affirm) that I will not, either directly or indirectly, disclose or reveal any of the transactions Oath for offiof the Bank, or any fact connected with them, intended cers. by the Directors to be kept secret, while I remain in office, nor after I may leave the same, except to the Legislature, or to any examining committee thereof, or in a court of justice as a witness." 12*

President of

IV. Be it further enacted, That it shall be the duty of the Presidents of the branches of the Bank to keep regular min- Duties of the utes of the proceedings of their respective boards, entering the Bank in the books kept for that purpose, not only the weekly discounts, but all matters of importance which may be transacted, particularly all matters which may relate to any unusual or extraordinary loan, or money paid by the board, and of all property bought in or sold by them, and of all resolutions passed by the parent Bank, regulating their course of conduct.

V. Be it further enacted, That it shall be the duty of the President to lay before the Legislature, at every sitting, the account of every salaried officer belonging to the parent Bank, or its branches, showing the amount which they owe, and how long the same has been due.

Accounts of
Officers.

VI. Be it further enacted, That the office of Deputy Cashier be, and the same is hereby, abolished; and that in future, Office of Deall change bills which may be issued, be signed by the Presi-puty Cashier dent, or such other officer as he may direct to perform the duty.

abolished.

Additional

VII. Be it further enacted, That the President and Directors of the Bank be, and they are hereby, authoroized to Officer. appoint, and at their pleasure to retain in office, one officer of the Bank to whom such duties shall be assigned as they may think proper, and who shall receive the same salary as is now paid to the Deputy Cashier.

VIII. And be it further enacted, That the stock books now Transfer of kept at the Treasury Office, be transferred to the Bank, and stock books. there kept by the officer aforesaid, so to be appointed.

See additional Oath, p. 38.

1831.

Officers for

IX. And be it further enacted, That the President of the parent Bank, the Presidents of the branches, the agents of the Bank, and other salaried officers of the Bank and its branchbidden to pur es, are hereby forbidden and prohibited from buying, either directly or indirectly, for themselves or any others, (if they are to have any interest therein) any stock of the State of South Carolina.

chase stock of the State.

State Bank stock.

X. Be it further enacted, That the President and DirectMay sell the ors of the parent Bank be, and they are hereby, authorized to sell the stock which they now hold of the State Bank, on the May purchase most advantageous terms, and that they be authorized to buy stock in other any other stock which they may think safe, to any amount not exceeding that appropriated to the sinking fund.

Banks.

XI. Be it further enacted, That the President and DirectMay establish ors of the Bank be, and they are hereby, authorized to estab lish a branch or agency at Cheraw, whenever, in their judg ment, it shall be deemed advantageous to the interests of the said Bank.

a Branch at Cheraw.

an agent at New York.

XII. Whereas, it is deemed expedient, in aid of the operations of the Bank, and for the purpose of accommodating the great and growing mercantile interest of the upper country, to vest a fund in the city of New York, at the disposal of the Bank, to furnish merchants who deal with the Bank, drafts on that place; and whereas, it is doubted whether such an operation would come strictly within the power delegated by the Act of incorporation.

Be it therefore enacted, That the President and Directors May appoint of the Bank are hereby authorized and empowered to place in any Bank of the city of New York, or in the hands of any safe agent for that purpose, any such sum as they may be able so to dispose of, without injury to the home operation of the Bank, or if it should be thought more advisable and more safe, to open an account for that purpose with any Bank or safe agent.

Repealing clause, &c.

XIII. Be it further enacted, That all Acts or parts of Acts in anywise repugnant to this Act, be, and the same are hereby, repealed.

A. A. 1831, p. 12.

S. L. vol. 6,

p. 454.

Restoring to the Bank

$5, 180, lost by the State depositing Cheraw Bank bills, received

for taxes.

FROM AN ACT TO MAKE APPROPRIATIONS FOR THE YEAR

1831."

XIX. And be it further enacted, That the Treasurer of the Upper Division be authorized, and he is hereby required, to pass to the credit of the Bank of this State, the sum of five thousand one hundred and eighty dollars, which was lost by the Cheraw Bank.

FROM "AN ACT TO RAISE SUPPLIES FOR THE YEAR 1832."

1833.

S. L. vol. 6,

p. 477.

XVIII. And be it further enacted, by the authority afore- A. A. 1832, said, That the President and Directors of the Bank of the P. 8. State of South Carolina shall be, and they are hereby, authorized and empowered to sell for ready money, after due More five per notice in some of the gazettes of the city of Charleston, a cent. stock to sum not exceeding three hundred thousand dollars of the stock be sold. of this State, bearing an interest of five per cent, at such times and in such sums and at such places as they may think advisable Provided, that the same be not at any time sold under par.

or, to issue certificates.

XIX. Be it enacted, by the authority aforesaid, That the Treasurer of the Lower Division, under the direction of the Treasurer, unGovernor of the State, shall, from time to time, as he may be der direction called on by the Bank of the State, make out certificates of of the Governstock, bearing an interest of five per cent, payable quarter yearly, in the names of such persons, and for such such sums, as the President and Directors of the said Bank, by resolu tion of the board thereof, may require, not exceeding, in the whole, the sum of three hundred thousand dollars; and it shall be the duty of the Treasurer of the Lower Division to conduct the business in relation to the stock hereby directed to be issued, in the same manner as he now does the stock issued under the Acts of eighteen twenty and eighteen twenty-two.

XX. Be it further enacted, by the authority aforesaid, That

the eighth section of the Act entitled "An Act concerning the Repeal of the Bank of the State of South Carolina," be, and the same is 8th section of hereby, repealed, and the stock books be returned to the office Act of 1831. of the Treasurer of the Lower Division, and by him be kept as heretofore. [Not acted on.]

AN ACT TO RE-CHARTER THE BANK OF THE STATE OF SOUTH A. A. 1833,

CAROLINA.

p. 57.

S. L. vol. 8, Whereas, it is deemed expedient and beneficial, both to its p. 67. citizens and the State, to re-charter the Bank of the State of South Carolina.

Charter exten

I. Be it therefore enacted, by the Honorable the Senate and House of Representatives, now met and sitting in General ded. Assembly, and by the authority of the same, That an Act entitled "An Act to establish a Bank on behalf of and for the benefit of the State," passed on the nineteeth day of December, in the year of our Lord one thousand eight hundred and twelve, and all other Acts now of force relating to the conduct and operations of the said Bank, be, and they are hereby, re-enacted and continued of force until the first day of May, in the year of our Lord and thousand eight hundred and fifty-six.

1833.

Not to issue

II. And be it further enacted, That the said corporation shall neither issue nor put into circulation any note for less than one dollar-and shall call in and withdraw from circulabills under $1. tion all bills heretofore issued by it of a lesser denomination than one dollar, as soon as the same can be conveniently done.

Branch at Georgetown discontinued.

III. And be it further enacted, That the Act of the General Assembly, passed on the seventeenth day of December, one thousand eight hundred and sixteen, establishing a branch of the Bank of the State of South Carolina at Georgetown, be, and the same is hereby, repealed, and that the said branch be discontinued, and that an agency be established at that place in lieu of said branch.

A. A. 1834, p. 63. S. L. vol. 1, p. 196.

ance.

FROM "AN ACT TO ALTER AND AMEND THE FOURTH ARTICLE OF
THE CONSTITUTION.”

Be it enacted, by the Honorable the Senate and House of Oath of allegi- Representatives, now met and sitting in General Assembly, and by the authority of the same, That the fourth article of the Constitution of this State shall be amended, so as to read as follows, viz: Every person who shall be chosen or appointed to any office of profit or trust, before entering on the execution thereof, shall take the following oath: "I do solemnly swear (or affirm) that I will be faithful, and true allegiance bear to the State of South Carolina, so long as I may continue a citizen thereof; and that I am duly qualified, according to the Constitution of this State, to exercise the office to which I have been appointed-and that I will, to the best of my abilities, discharge the duties thereof, and preserve, protect and defend the Constitution of this State, and of the United States: So help me God."

A. A. 1836, p. 20.

S. L. vol. 6, p. 566.

Providing for the payment of the subcrip

tion to the Louisville, Cincinnati and Charles

ton Rail Road Company.

FROM AN ACT TO MAKE APPROPRIATIONS FOR THE YEAR

1836."

III. And be it further enacted, That the Comptroller General shall be authorized to call upon the President of the Bank of the State of South Carolina for the instalments, as they may become due, on the shares to be subscribed for in the Louisville, Cincinnati and Charleston Rail Road Company, according to the terms and conditions of the resolutions adopted by the Legislature on the subject, during the present session, to be paid by the said President out of the surplus to be received from the General Government.