Schley County GaArchives History .....Incorporation-Planters Bank of Ellaville October 24 1887 ************************************************ Copyright. All rights reserved. http://www.usgwarchives.net/copyright.htm http://www.usgwarchives.net/ga/gafiles.htm ************************************************ File contributed for use in USGenWeb Archives by: Harris Hill http://www.genrecords.net/emailregistry/vols/00011.html#0002514 October 7, 2003, 8:50 am ACTS AND RESOLUTIONS OF THE GENERAL ASSEMBLY OF THE STATE OF GEORGIA. 1886-7. VOLUME II. Part II.--Corporations. TITLE II. BANKS, LOAN AND TRUST COMPANIES. 1886 Vol. 2 -- Page: 389 Sequential Number: 193 Short Title: INCORPORATING THE PLANTERS BANK OF ELLAVILLE, GEORGIA. Law Number: No. 538. Full Title: An Act to incorporate the Planters' Bank of Ellaville, Schley County, Georgia. SECTION I. Be it enacted by the General Assembly of the State of Georgia, and it is hereby enacted by the authority aforesaid, That S. A. Sellars, D. Peacock, J R. McMichael, W. D. Murray, B. A. Strange, E. Hill, C. H. Smith, C. L. Battle, C. Dickson, Robert Pather, M. A. Peony and H. T. Arrington, and their associates and successors be and are hereby incorporated under the name and style of The Planters' Bank of Ellaville, Georgia, with power to have and use a common seal, sue and be sued, plead and be impleaded, contract and be contracted with, discount bills and other evidences of debt, sell and buy exchange, loan and borrow money and receive and hold the same on deposit, buy and sell real and personal property when necessary in -------------------------------------------------------------------------------- Page: 390 business, in its business, and hold and convey the same, and to establish by- laws as may be deemed necessary to carry on a general banking business, not in conflict with the laws of the State of Georgia and of the United States. [Sidenote: Corporators.] [Sidenote: Corporate name.] [Sidenote: General powers.] [Sidenote: Banking powers, etc.] SEC. II. The capital stock of said bank shall be twenty-five thousand dollars, to be divided into shares of fifty dollars each, and each share shall entitle the holder thereof to one vote in all meetings of stockholders. The capital stock may be increased to any amount not to exceed one hundred thousand dollars, by a vote of two-thirds of the stockholders. [Sidenote: Capital stock.] SEC. III. As soon as one-half of the capital stock is subscribed, and fifty per cent. of said subscription is paid in, the incorporators, or a majority of them, may call a meeting of the subscribers, and they may organize by electing a board of directors, not less than five or more than nine, as their by-laws may designate, who shall hold their offices one year and until their successors are elected. Such board shall elect one of their number president. They shall also appoint all other officers and employees, and prescribe such bond and security as they may deem necessary. They shall call a meeting of the stockholders at least once in each year, and make to them a full report of the management of said bank the preceding year. Each stockholder of said corporation shall be individually responsible, equally and ratably, and not one for another, for all contracts, debts and engagements of said bank to the extent of the amount of his or her stock therein at the par value thereof, in addition to the amount invested in said stock. [Sidenote: First meeting of stockholders.] [Sidenote: Directors.] [Sidenote: Officers, etc.] [Sidenote: Stockholders' meetings.] [Sidenote: Reports.] [Sidenote: Liabilities of stockholders.] SEC. IV. The principal office of said bank shall be in Ellaville, in the county of Schley, Georgia, but it may establish agencies in other places if deemed necessary by the directors. [Sidenote: Offices.] SEC. V. All laws and parts of laws conflicting with this Act be, and are hereby repealed. Approval Date: Approved October 24, 1887. This file has been created by a form at http://www.poppet.org/gafiles/ File size: 4.1 Kb