Lancaster gazette. [volume] (Lancaster, Mass.) 1828-1830, 1828-05-27
STATE Laws.


OF MASSACHUSETTS.
Il .ar of our Lord one thousand eight hundred
and tucenty eight.
d to regulate Banks and Banking.
[coNcLUDED.]
III. Be it further enacted, That shares in
K which is now, or may hereafter be incor-
4 within this Commonwealth, shall be liable
hcbed on mesne process and taken in execu-
sold agreeably to the provisions contained
entitled I" an act directing the mode of
80 on mesne process and selling by execution
~ debtors in incorporated companies" pas
'be wear of our Lord one thousand eight
III and five, and an act in addition thereto,
5,s,,o domini one thousand eight hundred and
"a. Be IL further enacted, That the lands,
rs and hereditaments of any Bank already
E hted or which may hereafter be incorpo-
En- authority of this Commonwealth, may be
f. Execution and sold at publick vendue to the
bidder; and in every such case the officer
ID levy such execution shall be empowered
Ne to the purchaser a good deed or deeds of
Ell lands, tenements or hereditaments, having
- notice of the time and place of sale at
',.,rteen DAYS previous thereto, in two or more
i bIaces in the town or place where such
ii. tenements lie, as also in two adjoining
F: md all deeds and conveyances of any such
1enements, or Entertainments duly executed
lid shall be good and effectual in law to
s. ID the purchaser, his heirs and assigns for
Vi the right, title, and interest therein, which
It'd said corporation, any law, usage, or custom
c6ntrary Notwithstanding. And the officers
NV levy any such execution shall be authoriz-
! S.npoweredto adjourn the vendue from time
e. hot exceeding seven days at any one time,
|i8 sale ofsuch real estate shall be completed.
tho right, title, claim, and interest of any
8, Banks as AFORESAID, in any lands, tenements,
ttditaments, which have been or shall be
W ID for security of any debt due, or assigned
4 Bank, shall be liable to be seized and sold
Frit OF execution issued on any judgement
'1i, or which may hereafter be rendered, by
||IIt of laws within this Commonwealth, and
4 publick auction in the same manner as is
ed for the sale and conveyance of the real
"a such Banks.
ny debt secured by such mortgage, and due
5 Bank at the time Of the sale of such mort
al pass by deed of conveyance executed
0'fices who shall serve such writ ofexecution,
completely, and to all intents and purposes,
red to and vested in such purchaser; and
fchaser, or his legal representatives, may, in
rIname, MAINTAIN any action proper to recov-
Hebts, or to obtain possession Of lands, tene-
pr Entertainments, which might have been
ned in the name of such Bank, had no such
:en had and a copy of such mortgage deed,
certified by the Register of Deeds for the
+ pr district where such lands are situate, and
tnch mortgage deed shall be recorded, shall
3dered prinla tacie evidence ofsuch mortgage
nd Of the note or other obligation on which
fprtgage is founded and that the same were
sihg due aud unsatisfied at the time of the
5 such action and it shall be the duty of the
N or Clerk of such Bank, on reasonable re-
p furnish such officer who shall serve such
pm or the judgments creditor with certified
such note or obligation, together with a
a all the endorsements thereon, and a state
all such payments as shall have been made
y by such debtor; and whereon such debtor
we paiy to such purchaser the amount due
= note or obligation, he shall be forever dis
14 from such note or obligation
-, sale, transfer, conveyance or endorsement
vi note or mortgage made by such Bank, after
p such Bank and such debtor of the seizure
on execution by such officer, for purpose of
FER this act, shall have any validity, force or
ainst such purchaser under such sale at auc-
. r the same shall be adiudged null and void.
pnly between such Bank and such person to
Rch Bank shall make such gift, sale, transfer,
Eence, or endorsement, their heirs, executors.
|istrators and assigns.
: rs. BE 1t further enacted, That all bills is
Eem any Bank shall be signed by the President
Fenler thereof, PyoUided, hoiueuer, that all
|nicn Shall get into circulation, signed by
me President or Cashier thereof, shall be
on the Corporation.
q Bank within this Commonwealth NAV issue
ner nVe dollars to the amount of twenty-five
INN Oh lts Capital actually paid in, and no
mo no Bank shall issue bills of less de-
ion tnan one dollar, nor for any fractional
8 dollar under penalty of one hundred dol
q each offence.
Ills shall be issued in the name of the Presi-
t''rectors and Company, of the Bank issuing
4pnk shall issue any bill, note, check, or draft.
.aDle at such Bank, in any other manner than
lment in specie.
So Incorporated Bank which has issued or shall
Dill, note, check or draft redeemable in
manner than by payment in specie, or
any place other than the place where such
" law established and kept, shall be liable
81 ie same IN specie, to the holder thereof, on
sdiu Dank without previous demand at
IA VI pace where the same is on the face of
& h nIa cneck or draft, made payable, and if
- mnicn issued the same shall neglect, or
pay On demand made as aforesaid any bill,
speSk or draft such Bank shall be liable to paw
f oiuel MereoI twoper cent per month damages
X provided for in this act Provided, ho,c-
T.. .i holning. heren contained shall extend to
IN or graft drawn by the President or
4 Of any Bank within this Commonwealth, on
m BANK either within or without this Com
Fal hn. i i0r any sum exceeding one hundred
IA 1Ss all such checks or drafts shall first be
s eT ior payment at the Bank on which the
ssnu De drawn, and in default of payment, the
;S naii pe entitled to recover against the Bank
ISSUED ,sai.s the same, the amount of such check
n ".sl TWO per cent per month on the amount
a ~ rom ana after the time when such check
n so small have been refused payment, as addi-
ualnages, In any action against such Bank for
'coyery OF such check or draft.
4 No.; ~ be It further enacted, That any Presi-
N'''0f' eashier, or other officer, or servant