meetings in July, may elect a president, vice president, five directors, treasurer, secretary and all such other officers as they shall deem necessary, which officers so chosen shall continue in office one year, and until others are chosen in their stead; and shall be under oath faithfully to discharge the duties of their respective offices.

SEC. 7. No member of said corporation shall be the hirer or borrower of, or surety for any hirer or borrower, of any part of the funds of the same; and no president, vice president, director or any other officer, except the secretary and treasurer, shall be entitled to or receive any compensation for services.

SEC. 8. Said corporation shall have power to make such by-laws as they may deem necessary for the management of the same, provided said by-laws do not conflict with the constitution or laws of this state or of the United States.

SEC. 9. Henry Wooster, Calvin B. Rogers and Ezra S. Williams are hereby authorized to call the first meeting of said corporation, by causing personal notice of the same to be served upon the members thereof, at least three days before the time of such meeting; and said meeting shall be held in the month of July, A. D. 1851, at said Deep River.

Always provided, that this resolution, or any part thereof, may be altered, amended or repealed at the pleasure of the general assembly.

AN ACT TO INCORPORATE A SAVINGS BANK IN THE TOWN OF DERBY.

PASSED 1846.

Be it enacted by the Senate and House of Representatives, in General Assembly convened, SEC. 1. That John I. Howe, Donald Judson, Thomas Burlock, David W. Plumb, George W. Shelton, Edward N. Shelton, Fitch Smith, David Bassett, George Kellogg, Thomas Wallace, Samuel French, George Blakeman, Sullivan M. Colburn, Henry Atwater, Steven N. Summers, Isaac I. Gillet, Edward Lewis, Sheldon Bassett, Henry Hubbard, Sheldon Smith, Jr., John B. Davis and Sidney A. Downs, be and they hereby are incorporated by the name, style and title of The Derby Society for Savings, and they and such others as shall be duly elected members of said corporation, as is in this act provided, shall be and remain a body politic and corporate, by the name, style and title aforesaid, forever.

SEC. 2. Said corporation shall be capable of receiving from any person or persons any deposit or deposits of money not exceeding five hundred dollars, either directly or indirectly from any individual in any one year, and to use and improve the same at their discretion, as herein after provided.

SEC. 3. All deposits of money received by said corporation shall be used and improved to the best advantage, by loaning the same by order

or consent of a majority of directors, on mortgage of real estate unincumbered, equal in value to double the amount of the loan secured thereon, except to an amount not exceeding one-quarter of the amount actually on deposit in said corporation, which said sum may be invested in the purchase of stocks of the United States, or bank stock in any bank in this state, or on undoubted personal security. Provided, that said stocks may be sold from time to time to such amount as will meet the demands for deposits. And the income or profits thereof shall be divided and applied among the persons making the deposits, their executors or administrators, in just proportions, with such reasonable deductions as may be chargeable thereon; and the principal of such deposit or deposits may be withdrawn by the owner or owners thereof, or by any other person or persons duly authorized for that purpose, on giving notice of such intention in writing, and lodging the sums with the secretary of said corporation at least two months previous to withdrawing such deposit or deposits.

SEC. 4. Said corporation shall at their annual meeting in June elect by ballot any other person or persons to be members of said society, in case of any vacancy, so that the members shall not be reduced below twelve in number.

SEC. 5. Said corporation may have a common seal, and all deeds, grants, covenants and agreements made by any person, with their authority and direction, according to the by-laws of said society, shall be good and valid; and said corporation may sue and be sued, may defend and shall be held to answer by said corporate name.

SEC. 6. A meeting of the members of said society shall be held at Birmingham, in the month of June, annually, and at such other times as they shall judge expedient; and any seven members of said corporation (the president or vice president, secretary or treasurer, being one) shall be a quorum. And said corporation at their annual meeting shall elect a president, vice president, not less than five directors, and all such officers as to them shall appear necessary; which officers shall continue in office one year and until others are chosen in their room.

SEC. 7. No president, vice president or director of said corporation shall be entitled to or receive any compensation for his services; and no member thereof shall be the hirer or borrower, or surety for any hirer or borrower, of the funds of said corporation or any part thereof.

SEC. 8. Said corporation shall have the power of making by-laws for the more orderly managing of the business of the corporation; provided the same are not repugnant to the constitution and laws of this state.

SEC. 9. John I. Howe and Edward N. Shelton are hereby authorized to call the first meeting of said corporation, by causing personal notice to be given the members thereof of the time and place of holding said meeting, in the month of June, 1846.

SEC. 10. It shall be the duty of the president and directors of said corporation to make annual reports to the general assembly of the deposits and dividends declared and made. Provided, always, that this act may be altered, amended or repealed at the pleasure of the general assembly

CHANGING THE NAME OF THE DERBY SOCIETY FOR SAVINGS, TO THE DERBY SAVINGS BANK.

PASSED 1856.

Resolved by this Assembly, SEC. 1. That said corporation now known as "The Derby Society for Savings," in the town of Derby, be henceforth called and known by the name and style of "The Derby Savings Bank,” and by that name may sue and be sued, hold their property and estate, manage their concerns and exercise all the rights, powers and privileges and immunities, and be and remain subject to all the liabilities which have hitherto appertained to them and now do by the name of the said Derby Society for Savings.

INCORPORATING THE ESSEX SAVINGS BANK.

PASSED 1851.

Be it resolved by the Senate and House of Representatives, in General Assembly convened. SEC. 1. That Henry L. Champlin, Richard P. Williams, Edward W. Pratt, James Phelps, Russell H. Post, E. F. Parmele, Horace H. Starkey, H. M. Thompson, S. M. Comstock, A. Hayden, Jr., H. G. Smith, B. F. Post, Edwin Griswold, H. C. Wooster, Josiah Gladding, R. E. Pratt, Ezra Stannard, J. D. Leffingwell and Horace A. Brockway, be and they hereby are incorporated by the name and style of the "Essex Savings Bank," and they, together with such others as shall be duly elected members of said corporation, as is in this act provided, shall be and remain a body politic and corporate, by the name, style and title aforesaid, forever.

SEC. 2. Said corporation shall be authorized to receive from any person or persons, any deposit or deposits of money, not exceeding four hundred dollars, from any one individual, in any one year, and to use and improve the same at their discretion, as is herein after provided.

SEC. 3. All deposits of moneys received by said corporation shall be used and improved to the best advantage, by loaning or investing the same, by the order or consent of a majority of the directors, in a manner not inconsistent with the laws of this state; and said corporation may dispose of the same from time to time, as the interests of said society, in the opinion of the directors, may seem to require; and the income or profits thereof shall be applied and divided among the persons making deposits, their executors or administrators, in just proportions, with such reasonable deductions as may be chargeable thereon; and the principal of such deposit or deposits may be withdrawn by the owner or owners thereof, or by any other person or persons duly authorized for that purpose, on giving notice of such intention in writing, and lodging the same with the sec

retary of said corporation, at least three months previously to withdrawing such deposit or deposits.

SEC. 4. Said corporation shall, at their annual meeting in July, have power to elect by ballot any other person or persons to be members of said corporation.

SEC. 5. Said corporation may have a common seal, which they may change and renew at pleasure; and all deeds, conveyances and grants, covenants and agreements made by their treasurer, or any other person or persons, by their authority and direction, according to the by-laws of said institution, shall be good and valid; and said corporation shall at all times have power to sue, and may be sued, may defend and shall be held to answer, by their corporate name.

SEC. 6. A meeting of the members of said corporation shall hereafter be held at Essex, some time in the month of July, annually, and at such other times as they may judge expedient; and any seven members of said corporation, the president or vice president, treasurer or secretary, being one, shall be a quorum; and the said corporation, at their annual meetings, shall have power to elect and choose a president, vice president, five directors, and all such other officers as to them shall appear necessary; which officers, so chosen, shall continue in office one year, and until others are elected and chosen in their room; and all officers so appointed shall be under oath to the faithful performance of the duties of their offices respectively.

SEC. 7. No member of said corporation shall be the hirer or borrower, or surety for any hirer or borrower, of the funds of said corporation, or any part thereof; and no president, vice president or director of said corporation, shall be entitled to or receive any compensation for his services.

SEC. 8. The said corporation hereby are, and forever shall be, vested with the power of making by-laws for the more orderly managing of the business of the corporation; provided the same are not repugnant to the constitution and laws of this state.

SEC. 9. Henry L. Champlin, Esq., shall be and he hereby is authorized to call the first meeting of said corporation, by causing notice to be given to the members thereof, of the time and place of holding said meeting, and the object thereof, by advertising the same in the Saybrook Mirror, a newspaper published in the borough of Essex, at least five days before the day of such meeting; and said meeting shall be held in said borough of Essex, in the month of July, 1851.

Provided always, that this act, or any part thereof, may be amended or repealed at the pleasure of the general assembly.

INCORPORATING "FALLS VILLAGE SAVINGS BANK."

PASSED 1854.

Be it enacted by the Senate and House of Representatives, in General Assembly convened, SEC. 1. That John Adam, George W. Peet, William S. Marsh, Jabez Brewster, David M. Hunt, Daniel Brewster, Henry E. Wetherell, Uriel H. Miner, Horatio N. Wetherell, Chauncey S. Foster, be and they hereby are incorporated by the name, style and title of the "Falls Village Savings Bank," and that they and such others as shall be duly elected members of the said corporation, as is in this act provided, shall be and remain a body politic and corporate, by the same name, style and title, forever.

SEC. 2. The said corporation shall be capable of receiving from any person or persons disposed to obtain and enjoy the advantages of said incorporation, any deposit or deposits of money, not to exceed the sum of four hundred dollars from any individual, in any one year, and to use and improve the same for the purposes, and according to the discretion herein provided.

SEC. 3. All deposits of money received by said corporation shall be used and improved to the best advantage, by loaning the same, or by purchasing stock of the incorporated banks of this state or any other, or public stock of any state or of the United States, in any manner not inconsistent with the laws of this state; and the income or profits thereof shall be applied and divided among the persons making the deposits, their executors or administrators, in just proportion, with such reasonable deduction as may be chargeable thereon; and the principal of such deposit or deposits may be withdrawn by the owner or owners thereof, or any other person or persons duly authorized for said purpose, on giving notice of such intention in writing, and lodging the same with the secretary of said corporation, at least two months previous to withdrawing such deposit or deposits.

SEC. 4. Said corporation shall, at their annual meeting in September, have power to elect, by ballot, any other person or persons to be members of said corporation, and shall so elect whenever the members of said corporation may be reduced below ten, provided, however, that no person so elected shall become a member of said corporation until he shall assent thereto by a written declaration, by him subscribed, on the books of said savings bank.

SEC. 5. Said corporation may have a common seal, which they may change and renew at pleasure, and that all deeds, conveyances and grants, covenants and agreements made by their treasurer or any other person by their authority and direction, according to by-laws of this institution, shall be good and valid, and the said corporation shall at all times have power to sue, and may be sued, may defend, and shall be held to answer, by the name and style aforesaid.

SEC. 6. A meeting of the members of said corporation shall hereafter be held at Falls Village, in Canaan, some time in the month of September, annually, and at such other times as they may judge expedient; and any seven members of said corporation, the president, a vice president,