ART. V. The Shares of the Yokohama Specie Bank shall not be sold or transferred to any persons other than Japanese subjects.
ART. VI. The Share Certificates of the Yokohama Specie Bank shall be registered, and shall only be sold or transferred in the manner prescribed in the Articles of Association.
ART. VII. The business of the Yokohama Specie Bank shall be of the following nature:
(1) The Purchase and Sale of Foreign Bills of Exchange, credits and documentary.
(2) The Purchase and Sale of Inland Bills of Exchange, credits and documentary.
(3) Loans.
(4) Deposits of all kinds.
(5) Discounting and collecting Bills of Exchange, Promissory Notes, and other negotiable paper.
(6) Exchange of Coins or Moneys.
ART. VIII. The Yokohama Specie Bank may, if deemed expedient, purchase and sell public bonds, gold and silver bullion, and foreign coin.
ART. IX. The Yokohama Specie Bank shall, when so ordered by the Japanese Government, act in all matters connected with Public Loans or Government moneys in Foreign countries.
ART. X. The Yokohama Specie Bank shall not transact any business other than that specified in Arts. VII, VIII, and IX.
ART. XI. The Yokohama Specie Bank shall not purchase or hold real estate, shares, or other property, save in the following cases:
(1) Where either land or buildings are required for the business of the Bank.
(2) Where property has, in satisfaction of outstanding debts, been conveyed or sold to the Bank.
(3) Where property mortgaged to the Bank, which is sold under a decree of Court, is bought in at Public Auction on behalf of the Bank.
ART. XII. The Yokohama Specie Bank shall not take its own shares as security, nor purchase such shares, except in cases where a debtor to the Bank is unable to give sufficient security for the debt contracted, and has no other means to pay the same.
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ART. XIII. When the Bank acquires real estate, shares, or other property in the manner mentioned in the 2nd and 3rd sections of Art. XI, and in Art. XII, such properties shall be disposed of within ten months after such acquisition, but if it appears that the sale could not be effected at a reasonable price within that period, the Bank may, by stating the facts to the Minister of State for Finance, ask for an extension of time.
ART. XIV. The Yokohama Specie Bank shall maintain a reserve of not less than one-fourth of the total amount of deposits payable on demand.
ART. XV. The Directorate of the Yokohama Specie Bank shall consist of not less than five Directors and the term of their office shall be for one year. The actual number of Directors shall be fixed at a General Meeting of Shareholders and they shall be elected from among shareholders holding not less than fifty shares and their election shall be sanctioned by the Minister of State for Finance. In case of their re-election, such sanction shall also be obtained.
ART. XVI. The President shall be chosen by the Directors from among themselves. His election shall be sanctioned by the Minister of State for Finance. Should the Minister of State for Finance deem it necessary, he may order the Vice-President of the Bank of Japan to act as the President of the Yokohama Specie Bank, or he may designate the President of the Yokohama Specie Bank to act as manager of the Bank of Japan. If deemed expedient, the Directors may choose a Vice-President from among their number, but he shall act for the President only when the latter is prevented from attending his duties. The official powers and responsibilities of President, Vice-President, and Directors shall be determined by the Articles of Association.
ART. XVII. The Bank shall hold Ordinary General Meetings twice a year to transact the business specified in the Articles of Association. An Extraordinary General Meeting of Shareholders for the transaction of special business may be held at any time. No Shareholder shall have a right to attend a General Meeting unless he has been a registered Shareholder for at least sixty days prior to the date of such meeting.
ART. XVIII. Before any distribution of the half-yearly profits is made, the rate of dividend to be declared shall be reported to the Minister of State for Finance, and his sanction obtained.
ART. XIX. Not less than one-tenth of the half-yearly net profits shall be set aside as a Reserve for the following purposes:
(1) To make good any loss of capital.
(2) For the equalization of dividends.
ART. XX. When any debt to the Bank is overdue and unpaid, and loss on the
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pursuance of the decision of a General Meeting of the Shareholders apply for an increase or decrease of Capital.
ART. V. The Shares of the Yokohama Specie Bank shall not be sold or trans- ferred to any persons other than Japanese subjects.
ART. VI.-The Share Certificates of the Yokohama Specie Bank shall be re- gistered, and shall only be sold or transferred in the manner prescribed in the Articles of Association.
ART. VII.-The business of the Yokohama Specie Bank shall be of the following
nature
(1) The Purchase and Sale of Foreign Bills of Exchange-credits and docu-
mentary.
(2) The Purchase and Sale of Iuland Bills of Exchange-credits and docu-
mentary.
(3) Loans.
(4) Deposits of all kinds.
(5) Discounting and collecting Bills of Exchange, Promissary Notes, and other
negotiable paper.
(6) Exchange of Coins or Moneys.
ART. VIII.-The Yokohama Specie Bank may, if deemed expedient, purchase and sell public bonds, gold and silver bullion, and foreign coin.
ART. IX. The Yokohama Specie Bank shall when so ordered by the Japanese Government act in all matters connected with Public Loans or Government moneys in Foreign countries.
ART. X.-The Yokohama Specie Bank shall not transact any business other than that specified in Arts. VII, VIII., and IX.
ART. XI-The Yokohama Specie Bank shall not purchase or hold real estate, shares, or other property, save in the following cases;—
(1) Where either land or buildings are required for the business of the Bank.
(2) Where property has, in satisfaction of outstanding debts, been conveyed
or sold to the Bank.
(3) Where property morigaged to the Bank, which is sold under a decree of
Court, is bought in at Public Auction on behalf of the Bank.
ART. XII-The Yokohama Specie Bank shall not take its own shares as security, nor purchase such shares, except in cases where a debtor to the Bank is unable to give sufficient security for the debt contracted, and has no other means to pay the same.
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ART. XIII-When the Bank acquires real estate, shares, or other property in the manner mentioned in the 2nd and 3rd sections of Art. XI., and in Art. XII., such pro- perties shall be disposed of within ten months after such acquisition, but if it appear that the sale could not be effected at a reasonable price within that period, the Bank may, by stating the facts to the Minister of State for Finance, ask for an extension of time.
ART. XIV-The Yokohama Specie Bank shall maintain a reserve of not less than one-fourth of the total amount of deposits payable on demand.
ART. XV. The Directorate of the Yokohama Specie Bank shall consist of not less than five Directors and the term of their office shall be for one year. The actual number of Directors shall be fixed at a General Meeting of Shareholders and they shall be elected from among shareholders holding not less than fifty shares and their election shall be sanctioned by the Minister of State for Finance. In case of their re-election such sanction shall also be obtained.
ART. XVI-The President shall be chosen by the Directors from among them- selves. His election shall be sanctioned by the Minister of State for Finance. Should the Minister of State for Finance deem it necessary, he may order the Vice- President of the Bank of Japan to act as the President of the Yokohama Specie Bank or he may designate the President of the Yokohama Specie Bank to act as manager of the Bank of Japan. If deemed expedient the Directors may choose a Vice-President from among their number, but he shall act for the President only when the latter is prevented from attending his duties. The official powers and responsibilities of Pre- sident, Vice-President, and Directors, shall be determined by the Articles of Association. ART. XVII.--The Bank shall hold Ordinary General Meetings twice a year to An Extraordinary transact the business specified in the Articles of Association. General Meeting of Shareholders for the transaction of special business, may be held at any time. No Shareholder shall have a right to attend a General Meeting unless he has been a registered Shareholder for at least sixty days prior to the date of such meeting.
ART, XVIII-Before any distribution of the half-yearly profits is made the rate of dividend to be declared shall be reported to the Minister of State for Finance, and his sanction obtained.
ART. XIX.-Not less than one-tenth of the half-yearly net profits shall be set aside as a Reserve for the following purposes -
(1) To make good any loss of capital.
(2) For the equalization of dividends.
ART. XX-When any debt to the Bank is overdue and unpaid, and loss on the
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