Chap. 0082 An Act to reduce the Capital Stock of the Exchange Bank.

Sec 1. be it enacted by the Senate and House of Representatives, in General Court assembled, and by the authority of the same, That, from and after the first Monday of April next, the Capital Stock of the Corporation created by an act of the Legislature passed on the thirty-first day of January, in the year of our Lord one thousand eight hundred and twenty-three, by the name of the President, Directors and Company of the Exchange Bank, be, and the same hereby is reduced to the sum of two hundred thousand dollars.

Sec. 2. Be it further enacted, That the number of shares in said Capital Stock shall remain the same as now established.

Sec. 3. Be it further enacted, That no dividend of the Capital Stock of said Bank, as now existing, shall be made, until it shall have been proved to the satisfaction of the Governor and Council, or of Commissioners by them appointed, at the expense of said Corporation, that the sum to which the said

Capital Stock is to be reduced, is sufficient to pay all notes in circulation, and all deposits, and other demands existing against said Corporation ; and that nothing contained in this act shall be construed to affect the liability of the Corporation, or of the individual stockholders, as established by the original act incorporating said Bank, or by any other existing law. And the said Corporation shall be holden to pay into the Treasury of this Commonwealth their proportion of the tax now required to be paid by law, upon the existing capital of said Bank, until the same shall be actually reduced as aforesaid, and all arrearages of taxes paid.

[Approved by the Governor, March 8, 1830.]