1907_private laws_169_6
CHAPTER 167                                                                                   AN ACT TO INCORPORATE MECHANICS AND FARMERS BANK, AT DURHAM, NORTH CAROLINA. The General Assembly of North Carolina do enact:
That whenever two thousand dollars of said capita stock shall have been subscribed for and paid in cash the abovenamed incorporators, or a majority of them, or a majority of | those who have subseribed for the capital stock, shall call a meet | ing of the subscribers for said capital stock, at such time and at such place in the city of Durham [as they shall select], giving three days notice by mail of the time and place of such meeting to each subscriber, when and where such stockholders shall elect |                                                        irectors, not less than three nor more than nine, who shall hold office for one year, or until their successors have qualified; and uch directors shall be empowered to elect a president and viceresident and cashier and other officers, and adopt by-laws, not inconsistent with the laws of North Carolina; such officers to old office for one year, or until their successors have qualified. _