Richmond palladium. [volume] (Richmond, Wayne County, Ind.) 1831-1837, 1836-02-06

AN ACT amendatory Of an act, entitled
can act establishing State Bank''

AN ACT amendatory Of an act, entitled
I Gan act establishing State Bank''
approved January %, 1884.
Sec. l. Be it enacted by the General
Assembly of the State Of Indiana, That
the President and Directors Of the State
Bank Of Indiana shall be authorized to in
crease the capital stock Of any Of the
Branches Of said Bank, bv individual sub
scrptions, 10 an amount by which the cap
ital of each shall not exceed TWO hundred
and fifty thousand dollars: the additional
capital to be made at such periods and in
such sums az the President and Directors
ofthe State Bank shall deem best caIcula-
ted to promote the interests Of the State,
and the welfare Of the Institution. The
Subscription and payment Of such adj
ditional capital to be under the direction
Of the Parent Board, except that the State
shall not be required to furnish any means
for payment of such stock: Provided how
ever, that the State may subscribe for
and take one half of said additional c pital
on the same conditions as heretofore, ex-
ccpt that the same shall be paid in, ct the
same time the individual stock is paid for.
Sec g That the President and Drec-
tors Of the State Bank may from time to
time authorize the several Branches, or
any of them. to extend their discounts TO
an amount, the average Of which for each
fiscal year shall not exceed two and a hal'
times the capital stock actually peid in
and for this purpose, the debts Que 20 them.
exclusive ofdeposites apd cash balances
in other Banks and Branches. NAV be ex-
tended to average as aforesaid twice and
one halt tie amount Of the capital actual
" paw "A, but never shall exceed that
Proportion, and never shall exceed three
times the amount Of capital paid in, at any
one time the power being still reserved
/ by the State Board Of restricting the
Branches in their discounts to once and a
quarter the amount Of capital paid in:
Provided however, that the State reserves
the right Of repeating or amending this
section, at the session commencing in Dec
1899, and also at the session commencing
in Dec. 1915.
Sec g. That the President and Direc-
tors Of the State Bank may empower any
Of the Branches, at their own expense, to
open books tor the transfer Of their stock
in any Of the cities Of the United States:
and any such Branch may authorize trans
fers Of any portion Of its stock. without len
or restriction on which the State has no
lien, on said books: which books shall be
kept open for public inspection, confor
mably to the provisions Of the 2Sth section
of the act Of which this is amend atorv, and
such transfers shall be regularly cerrfied
to the State Bank according to the Char
ter
Sec. 4. 1t shall be lawful for the State
Bank and Branches in the computation of
interest or discount to charge according
to the standards and rate get forth in
''RowIet's Tables" and in computing the
time which noie has to run, to reckon
the days Inclusiyely.
| Sec. s. That the Trustees Of any Con.
Igres@onal Township in this State, by their
Clerk, on the last day Of Ap.il and October
in any year (or ifsuch day be Sunday. then
on the day previously mag suascribe for
stuck in any Bsanch Of the State Bank,
With the coosent Of said Branch, which
IahAll be % foG 4 creation az aG2ditioual can.