The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1839-11-06
Laws Of Rhode Island.
STATE OF RHODE ISLAND AND PROV
IDENCE PLANTATIONS.

=
lDENCE PLANTATIONS.
In General assembly OetoJcr Session A. d. 1889
An Act in addition to the several acts recnla-
! ting the Banks in this State. and for other
purposes.
BE ii enacted By the General assembly as fol-
lolcs -
! SECTION l.. The first section of the ac,
passed al June session of the General Assem-
bly,, 1887. entitled " an act in addition 10 rbe
several acts regulating the Banks in this state.
and for other purposes" is hereby re.enacted.
and shall continue in force until the first day of
February next.
! Sec. 2. During the suspension of spycie
payments IT shall not be lawful for any Bank to
sell or otherwise dispose of its balances or funds
IN other States. IN checks at sight, or payable
Il day certain, or the bills of Banks of other
States. at greater rate than the par value
thereof; but the same may be discounted out
by such Bank. or used for the REDEMPTION of
It's own bills or Indebtedness at par
Sec. The third section Of an act entitled
IAN act asceranng damages on protested bills
OF exchange is repealed so far as the same al
lows five per cent damages upon bills of cx
change protested for non payment. when the
same have been discounted by any Bank in this
State.
Sec. a. During the continuance of the su,-
pension OF specie payments by the Banks, each
Bank shall be and hereby is required 10 receive
IN deposit its own bills, and allow therefor an
interest OF SIX per cent, per annum during The
llfho OF such deposite, upon sums not exceed
Ine one hundred dollars, by the same iudiyid
ua' and Tor sums exceeding one hundred dol
lars. hve per cent. per snnum. if deposited by
4 for
thousand dollars. deposited by corporations or
individuals. three per cent per anuum: pro,i.
ded' that such last mentioned deposire be for
time exceeding sixty days; and provided. also.
that the president and directors of every Bank
shall be responsible for the payment OF all sums
deposited 10y individuals as aforesaid
Sec D. In all eases Of deposiies authorized
IN the preceding section where the amour, de-
posted by one individual or corporation shall
exceed hive thousand dollars, the Bank shall
not be required TO pay the same in apv other
manner than by nstalments Of twenty. live Der
cent, thereof, per month-the first psymep, 10
be made upon thirty days notice.
Src. 8. Any Bank in this State refusing
TO receive its own bills at par for suy collec
tions due said Bank wherever payable, shall re-
celse no benefit from the first section of this
act.
Sec. 7. The report which. BY the act rela-
ting to Banks passed at the June session. A. ID.
1889. the Bank Commissioners are directed
TO make to the General Assembly at the June
ana January sessions IN each year, shall con-
tam statement Of the condition Of the several
Banks. as II may be on such days previous TO
The said June aud January session as the Bank
commissioners may 10 writing designate. instead
OF the days named in said act and so much of
said act as is inconsistent herewith is hereby re-
peaIed.
True Copy Witness,
HENRY BOWEN. Sec'y.
The following is the section Of the act which
is revived by the above act:
Section l. In all suits in which sny BsnL
IN this State is party. and when the sui, for
the collection Of money is brought by said
Bank, the Court rendering judgement in IA.
vor Of The plaintiff. shall, in case ..id iudp.
msnt Is rendered by the defendants default. al.
low no costs to be taxed agsinst the defendant,
and N any suit aesirst any Bank in this State.
brought before any Justice Of the Peace. DO
cost shall be recorded against the defendant.
And iu no case at any term of any Court IN
this State. shall cost he SLOWED against any
Bank, on more than one suit which shall be
commenced against said Bank, by the same
plaintiff or plaintiffs, after the passage OF this
act; hut said actions shall be consolidated. and
hut one cost taxed, and that the provisions Of
this section shall continue 10 force until the
irsrdsy Of December next.
Ma Coanx nroposes 4, dei;xs, ..,~.. n