1899 private laws – Ch.310 Sec.5
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CHAPTER 310 An act entitled an act to incorporate the Peoples Savings Bank at Asheville, North Carolina. The General Assembly of North Carolina do enact:
The president and directors of said corporation may adopt and use a cominon seal, and alter the same at pleasure; may make and appoint all necessary officers and agents and fix their compensation; shall exercise and have a!l such powers and authority as may be necessary for governing the affairs of said corporation, and shall prescribe the rules for the conduct of said corporation consistent with the by-laws established by the stockholders; they may regulate the terms and rates on which diseounts and loans may be made and deposits received, and when dividends of the profits and the amount thereof shall be made and declared; and fill all vacancies occarring in their own body and among the officers and agents of said corporation. They may call meetings of the stockholders whenever they think proper, and at all meetings the stockholders may be represented by proxy, and each share shall be entitled to one vote.