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L26614

MAR 15 1S.

RESOLUTIONS

OF THE

GENERAL ASSEMBLY OF THE STATE OF CONNECTICUT,

PASSED AT THE MAY SESSION, 1851.

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 fifty

one:

INCORPORATING AN AGRICULTURAL ASSOCIATION IN LITCHFIELD

COUNTY.

SEC. 1. Resolved, That John Boyd and Horace Humphrey may, by a notice published in a newspaper published in the county of Litchfield, at least three weeks before the fourth Monday of August next, call a meeting of the inhabitants of said county, to be held on said day in the town of Winchester, in said county, to form an agricultural association for the purposes herein after specified, and all the persons present at said meeting may, if they see fit, form themselves into such association; which society, the provisions of this resolution having been complied with, shall be a body corporate, and may choose a president and other officers, enact by-laws not inconsistent with the laws of this State, and compel a due observance thereof by suitable penalties, and may sue and be sued, and do all things for the well ordering of their affairs; provided, that before any such corporation shall be entitled to the privileges granted in this chapter,

it shall lodge with the secretary of state a copy of their articles of association.

SEC. 2. Such association, when it shall have raised by contribution or tax upon individuals, a sum not less than one hundred dollars, in any one year, to be thereafter expended for the uses of the society during the then current year, shall be entitled to receive, in the months of September and October of that year, out of the treasury of the State, a sum equal to the amount so raised by said society; provided, that no such society shall receive from the treasury more than the sum of two hundred dollars, in any one year.

SEC. 3. If such society shall claim such allowance out of the State treasury, it shall file in the office of the comptroller of public accounts, in the month of September or October, a certificate signed by the president and treasurer of said society, specifying under oath the sum actually raised by said society as aforesaid; and the comptroller shall thereupon draw an order on the treasurer, in favor of such society, for the sum for which said society is entitled.

SEC. 4. Such society, receiving said allowance from the State treasury, shall offer, annually, by way of premiums, or shall otherwise apply, at their discretion, for the improvement and encouragement of agriculture or manufactures, the whole amount so received from the State, together with an equal amount received from the contributions or tax upon individuals. And said society shall also transmit to the office of the secretary of state, in the month of January annually, a statement of their proceedings in relation to the expenditure of such money, specifying the nature of the encouragement offered by the society, and the objects for which the premiums have been offered, and to whom they were awarded; provided, that all money offered for premiums which shall not be awarded or paid, shall be placed in the hands of the treasurer of the society, to be expended in like manner, for promoting the objects of the society.

SEC. 5. This resolution may be altered, amended or repealed, at the pleasure of the General Assembly.

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INCORPORATING 'THE CENTRAL BANK," IN MIDDLETOWN.

SEC. 1. Resolved, That the stockholders of the Central Bank, their successors and assigns, shall be and remain a body politic and corporate, by the name of The Central Bank, to be located and established in the city of Middletown, 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 common 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.

SEC. 2. The capital stock of said bank shall consist of fifteen hundred 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 subscribing 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 dollars on each share of the stock of said bank, and a like sum of twenty dollars on each of said shares sixty days thereafter, and the sum of ten dollars on each of said shares at the expiration of thirty days thereafter, and a like sum of ten dollars on each share at the expiration of every ninety days thereafter, until the whole amount so subscribed to said 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. And the notes of individuals shall not be received in payment of any sum which may be due for subscriptions to the said capital stock. 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.

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