1903_private laws_382_7
CHAPTER 381 AN ACT TO INCORPORATE THE BANK OF NASHVILLE, NASH COUNTY. The General Assembly of North Carolina do enact:
The affairs of the corporation shall be managed by 2 board of directors, who shall be elected annually by the stock: holders. The directors so elected shall choose a president and vice president, who shall hold for one year and until their successor: shall have been duly elected. They shall also elect a cashier and such other clerks and assistants as shall be necessary to a suc. cessful operation of the business, who shall serve until their successors are chosen. A majority of the board shall constitute a quorum for the transaction of business, and may fill vacancies occurring in its body till the next annual meeting of the stockholders. It shall be the duty of the board of directors, and they are hereby fully empowered, to make rules, regulations and by-laws for the government of said corporation and for the conduct of its business; also to fix the salaries of all officers and employees, and fix the bonds of all such officers and employees as they may require to give bond.