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PAPERS OF MIRABEAU BUONAPARTE LAMAR
Eighth, a majority of the directors vvith the president, or his ap- -pointed pro tern., shall constitute a quorum to do business. Ninth, The directors shall keep fair and regular entries of their proceedings, in well bound books to be procured for that purpose, and on any question, when a director shall require it, the yeas .and nays of the directors shall be inserted on the minutes of the board, and those minutes shall be opened, together with all other papers and books of the bank, to the inspection of commissioners or a committee of congress, whenever required for examination.· Tenth, Every president and cashier before he enters upon the execution of his duties, shall give bond with such security as the directors may require,' in sums not less than fifty thousand nor more than one hundred thousand dollars, conditioned their good behavior and the faithful discharge of their several duties; and the tellers and clerks shall give a like bond in a sum not less than ten or more than twenty thousand dollars. Eleventh, The president, directors, cashier and all other officers of the bank, shall take the following oath before entering upon their duties of their respective offices: "I do solemnly swear, that I will faithfully discharge the trust reposed in me as of the national bank of 'l'exas, so help me God." Twelfth, This bank is hereby enacted and made a corporation and body politic, by the name and style of '' The President and Directors of the National Bank of Texas," and shall so continue for twenty years from the passage of this act; and by that name shall be, and is hereby made able and capable in law to sue and be sued, plead and be impleaded, answer and be answered, defend and be defended in courts of record, or any other place whatsoever; and also to make, have and use 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, ordinances and regulations, as may be necessary and convenient for the government of said corporation, not being con- trary to the constitution and laws of this republic. Thirteenth, 'The president and directrs shall have power to issue notes, signed by the president and countersigned by the cashier, not under the denomination of five dollars, in behalf of said corporation for such sums, (under the restriction aforesaid,) and with such devices as they may deem most expedient and safe. SEO:r"ION 6. Be it further enacted, that the bills obligatory, and of credit, under the seal of said corporation, which shall be made to any person or persons, shall be assignable by indorsement there- upon, under the hands of such person or persons, and of his, her, or their assignee or asignees, and so as absolutely to tranfer and vest the property thereof in each and every assignee or assignees, successively; and to enable such assignee or assignees, to bring and maintain an action thereupon, in his, her or their own name or names. And bills or notes which may be issued by order of said corporation, s.igned by the president and countersigned by the cashier thereof, promissing the payment of money to any person, his, her or their due, or to bearer, though not under seal of said corporation, shall be binding and obligatory upon the same in like manner, and with the like force and 2-Library.
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