Chapter LXXXVIII: Section 124: That, pursuant to the notice of the President of the

United States provided in the preceding section, each local association of the several States where State associations shall have been organized shall send one representative to Washington for the purpose of organizing the National Land Credit Bank. Each representative of a local association shall have one vote, but any association may be represented by a proxy in such legal form as is prescribed by the laws of the State where such local association is situated.