BY-LAWS OF GRANGERS BANK. 163 



ART. 10. Whenever a vacancy shall occur in the office of any Director, by 

 death, resignation, or other cause, the Board of Directors shall appoint a succes 

 sor for his unexpired term. Provided, that if more than one vacancy shall occur 

 in the Board in any year, a meeting of the stockholders shall be called by the 

 Board of Directors within thirty days, giving at least twenty days notice of such 

 meeting, by advertising the same in some newspaper published daily in the city 

 of San Francisco, for the purpose of filling such vacancy or vacancies. 



ART. 11. Whenever any Director shall cease to be a stockholder, his office be 

 comes ipso faeto, vacant; such vacancy shall be filled as provided in Article 10. 



ART. 12. The Board of Directors shall elect from their number a President and 

 Vice President of the corporation, who shall hold their office for one year. 



ART. 13. The President or Vice President, or either of them, may be removed 

 from office at any time on the vote of seven Directors in favor of such removal. 



ART. 14. The Board of Directors shall appoint a cashier, an attorney, and such 

 other officers, agents, clerks or servants, as the business of the bank shall require, 

 define their powers and prescribe their duties, subject to the By-Laws, and shall 

 fix the salaries or compensation to be paid all officers, agents, clerks, or servants 

 of the corporation. 



ART. 15. The President, Vice President and Cashier shall have charge and cus 

 tody of the funds, property, books, papers, and other matters of the corporation, 

 under such rules, regulations and restrictions as the Board of Directors shall pre 

 scribe in the By-Laws, or by express resolution from time to time made or 

 passed. 



ART. 16. The President, Vice President, and Cashier, shall have power to buy 

 and sell bills of exchange, to make loans under such regulations and restrictions 

 as may be fixed by resolutions of the Board of Directors, to keep the Common 

 Seal, and each shall have the power to affix the same to all papers, instruments, 

 or documents, on behalf of the Corporation, requiring the Seal; they shall each 

 have the power to collect all moneys due the Corporation; to make, execute, and 

 deliver all receipts, releases, acquittances, or other papers, writings, documents, 

 or instruments on behalf of the Corporation, proper or necessary in the ordinary 

 course of business of the Bank ; and generally to carry on the business of the Cor 

 poration, subject to the control of the Board of Directors, expressed through the 

 By-Laws, or such express resolutions as may from time to time be passed; and 

 they shall each report to the Board of Directors, when required, each and every 

 thing by them, or either of them, transacted. 



ART. 17. The President and Vice President shall not both be absent from the 

 State at the same time, and in case of the absence of either from the Bank, his 

 duties and powers shall devolve upon and be performed by the other; and each to 

 be eligible to such office shall be a stockholder to the amount of five shares. 



ART. 18. It shall be the duty of the President, and in his absence the Vice 

 President, to preside at all meetings of the Board of Directors, and at all meet 

 ings of the stockholders of the Corporation . 



ART. 19. It shall be the duty of the Cashier to keep or cause to be kept such 

 books as the business of the Bank may require, under the control and instructions 

 of the Board of Directors. He shall attend personally to the business of the Bank 

 at such hours as the Board of Directors may determine. He shall also be required 

 to give bonds for the faithful performance of his duties, in an amount to be fixed 

 by the Board of Directors. 



ART. 20. The Board of Directors shall appoint from their number a Finance 

 Committee of three, whose duties shall be defined by resolution of the Board of 

 Directors. 



ART. 21. The Board of Directors shall appoint an Auditing Committee of 

 three from their number, whose duty it shall be to count the cash and examine 

 the books, vouchers, documents, papers, and other assets of the Bank; to report 

 upon the same to the stockholders at their annual meetings, and to the Board of 

 Directors from time to time, as they may direct. 



ART. 22. The annual meeting of the stockholders for the election of Directors 

 shall be held at the office of the Bank, on the second Tuesday of October of each 

 year, at one o clock p. M. 



ART. 23. The call for the annual meeting of stockholders, and for the annual 

 election of Directors shall be signed by the President, Vice President, or Cashier, 

 and published at least once a week for four consecutive weeks next preceding the 

 day of meeting, in at least three newspapers of general circulation throughout the 

 State. If from any cause no quorum shall be present, the meeting may adjourn 

 from time to time without further notice. 



