The Portland gazette. [volume] (Portland, Me.) 1818-1824, 1821-02-12
AN ACT directing the mode and
time of making returns of, and
enforcing the right to loans from
the several Banks i'm this State.


the several Banks i'm this State.
SEC. !. BE at ENABLED By The Senaie and House
Of Representatives., ~ Legislature assembled That
the Directors Of the several Banks which are or
may be Incorporated within this State. shall. on
the first Monday of January and .rane in every
| year, and as much oftener as may be required of
them, make return Of the state of their several
Banks, as it existed on the day immediately pre-
ceding the Monday aforesaid, and that they
transmit the same as soon thereafter as NAV be,
not exceeding fifteen days, to the Secretary Of
this State which return shall spacify the amount
of the capital stock actually paid in the value
OF the real estate belonging TO the corporation
the amount of all debts due, and of the cash
deposited; bills 40 CT culation gold. silver and
| other coined metals on hand bills Of other banks
incorporated by the State bills of other banks in
corporatsd elsewhere bills q one, two and three
dollars, in circulation, and the amount OF said
bills on hand the rate and amoant Of the last
dividend of profits. with the amount of reserved
profits Of said bank which said return shall
be signed by majority Of he Directors and by
| the Cashier ofthe several Banks, who shall make
oath or affirmation before some magistrate, quail
flied to administer oaths, aud who shall have no
| interest in said corporate body, to the truth of
said return according to their best knowledge
and belief.
SEC. q BE further snacied, That in case the
Directors of any Incorporated bank in this State,
shall neglect or refuse TO comply with the proyi-
sIons OF this act the SAID corporation shall forfeit
and pay the sum of FIVE thousand dollars, for
each neglect or refusal, TO be sued for and recov
cred in an action Of debt b! the Attorney General,
for the use of the State.
SEC. 3. BE ii further enacted, That it shall be
the duty of the Treasurer ofthis State, whenever
he shall have occasion to borrow any sum of moa-
ey of any Incorporated Bank, under and by vir-
tue of any authority for that purpose, Civ
en- by any act resolve Of this state, to give
notice in writing to the President or Cashier Of
any such incorporated Bank, fths amount which
be has so an occasion To borrow, and demanding
Of said Bank the loan Of the same, conf rmably
to the provisions of the act Incorporating such
Bank.
SEC. 4. BE az further enacted, That if any In
corporated Bank aforesaid shall neglect refuse,
for the space Of ten days after notice given a.
foresaid, to loan 10 the said Treasurer the 50
demanded, said Bank shall forfeit and pay into
the Treasury ofthis State, the sun Of Two per
cent. per month upon the amount Of anyssum 80
demanded, as loan, aforesaid and after
that rate for sorter or longer time, so long as
the said neglect or refusal 10 comply with such
demand the said Treasurer shall continue.
SEC. 5. Be al further snacted, That j; shall be
the duty Of the said Treasurer, al tie expiration
Of one month after the said demand shall have
been made TO cause TO be instituted, ia aByCourt
Of competent jurisdiction. action in the name
and behalf, and for the OF this State against
the Bank so negiecting refusing aforesaid,
for the recovery of the said penalty; and SO at
the expiration of every succs eding montbtheresf-
ter, from month TO month,to 10 be instituted
similar action as aforesaid fer the amount oflhs