Section 7. If any proprietor or shareholder is indebted to the Bank, the Bank may withhold payment of the divid

CHAPTER IV. FORFEITURE OF STOCK AND SHARES. Powers in regard to proprietors or shareholders indebted to Bank. 17. If any proprietor or shareholder is indebted to the Bank, the Bank may withhold payment of the dividends on the stock or shares of such proprietor or shareholder not being registered as held in trust, or as executor or administrator, and apply them in payment of the debt; and the Bank may refuse to register the transfer of any such stock or shares until payment of such debt; and after demand and default of payment, and notice in that behalf given to such proprietor or shareholder, or his constituted agent, or by public advertisement in the local official gazette, if the debt remain unpaid for the space of three months after such notice, the Bank may advertise in the local official gazette such stock or shares for sale on a day not less than fifteen days from the publication of such advertisement; and may, on such day, sell by public auction, and subject to such conditions, if any, as the Bank thinks fit, such stock or shares, or so much or so many thereof 7. The Bank shall sue and be sued by its said corporate name; and shall use such corporate seal as the directors from time to time appoint; and may as such body corporate acquire and hold, either absolutely or conditionally, for a term or in perpetuity, any property whatsoever, moveable or immoveable, and transfer, assign and convey the same.