NATIONAL BANKING UNDER THE FEDERAL RESERVE SYSTEM 
board) for the term for which he was elected a director. The directors shall have 
power to elect a vice-president, who shall also be a member of the board of directors, 
and who shall be authorized, in the absence or inability of the president from any 
cause, to perform all acts and duties pertaining to the office of the president, except 
such as the president only is authorized by law to perform, and to elect or appoint 
a cashier and such other officers and clerks as may be required to transact the busi- 
ness of the association; to fix the salaries to be paid to them, and continue them in 
office, or to dismiss them as in the opinion of a majority of the board the interests 
of the association may demand. 
The directors shall have power to define the duties of the officers and clerks of 
the association, to require bonds from them, and to fix the penalty thereof; to regu- 
late the manner in which elections of directors shall be held, and to appoint judges 
of the elections; to make all by-laws that it may be proper for them to make, not 
inconsistent with law, for the general regulation of the business of the association 
and the management of its affairs, and generally to do and perform all acts that it 
may be legal for a board of directors to do and perform under the Revised Statutes 
aforesaid. 
7—This association shall continue from the date of its organization until such time as 
it be dissolved by the act of its shareholders owning two thirds of its stock, or until 
its franchise be forfeited by reason of violation of law, or until terminated by either 
general or special Act of Congress, or until its affairs be placed in the hands of a 
receiver. 
3— These articles of association may be changed or amended at any time by share- 
holders owning a majority of the stock of the association, in any manner not incon- 
sistent with law; and the board of directors or any three shareholders may call a 
meeting of the shareholders for this or for any other purpose, not inconsistent with 
law, by publishing notice thereof for thirty days in a newspaper published in the 
town, city, or county where the bank is located, or by mailing to each shareholder 
notice in writing thirty days before the time fixed for the meeting. 
In witness whereof we have hereunto set our hands this. 
a Sree 
(To be signed by at least five natural persons, preferably the applicants.) 
BL 
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