The Banking Laws of Illinois (Classic Reprint)

Download or read book The Banking Laws of Illinois (Classic Reprint) written by W. H. Kniffin Jr. and published by Forgotten Books. This book was released on 2018-02-09 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from The Banking Laws of Illinois Capital stock shall have been fully subscribed for, a meeting of the subscribers to the capital stock of such associa tion shall be called (each subscriber having had at least three days' notice) for determination of the number and election of directors to serve as managers for one year and until their suc cessors are elected. And no director shall be elected unless he shall have received votes rep resenting at least a majority of the shares of the association; and the voting may be done by person or by proxy, and at such election each subscriber or stockholder shall have the right to vote for the number of shares owned or subscribed by him for as many persons as there are directors to be elected, or to cumulate such shares and give one candidate as many votes as the number of directors multiplied by the number of his shares of stock shall equal or to distribute them on the same principle among as many candidates as he shall deem proper. (section elect'on The directors so elected may of. Officers proceed to organize by the elec tion of one of their number as president and may appoint the necessary oflicers and employees and fix their salaries to carry on the business of the bank or associa tion and make by-laws (not inconsistent with this Act) for the government of the bank or association; and each director shall take and. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.