Section XXXVII. And it is hereby enacted, that an account of the profits of the said Bank shall be taken half yearly

XXXVII. And it is hereby enacted, that an account of the profits of the said Bank shall be taken half yearly on the 1[st] day of January and the 1[st] day of July in every year, and that a Dividend thereof, shall be made so soon thereafter as conveniently may be, and that the amount of such Dividend shall be determined by the Directors of the said Bank on the ground of the actual profits made by the said Bank during the Six Calendar Months preceding the day up to which such Half Yearly Account shall be taken ; provided that such reasonable expenses as have been incurred in procuring this Act of Incorporation, shall, upon being audited an admitted by the said Directors be paid out of the Funds of the Bank as soon as it is opened for business, and that the amount so paid shall be defrayed out of the future profits of the Bank at the discretion of the Directors, and provided that the said Directors, subject to the control and sanction of the Proprietors at the General Meetings, shall have power, when they see fit, to set apart from such profits, a sum not exceeding Five per Cent. on the Capital Stock of the Bank as a reserve against Contingencies. XXXVIII. And it is hereby enacted, that on the first Monday of the month of March in every year a General Meeting of the Proprietors of the Capital Stock of the said Bank shall be held at which the Directors of the said Bank shall submit to the said Proprietors a Statement of the affairs of the said Bank made up to the preceding 31[st] of December, and such General Meeting shall be competent to pass resolutions, and frame rules and directions relative to the affairs and conduct of the said Bank which shall be binding on the Directors and Officers of the Bank and on the Proprietors thereof until rescinded or modified respectively by any subsequent General Meeting.