The spirit of the age. [volume] (Woodstock, Vt.) 1840-1844, 1840-11-27

why, III INC meetings OF the corporation, NOT snail
any stakeholder be entitled to more votes in his
own right and by proxy than fourth of the votes
given.
SEC 2s. The directors may determine n, what
times, and in proportion, the Stockholders shall pay
into the bank the amount unpaid on their shares Of
the capital stock, and they shall give notice thereof
by publishing their ORDER three weeks successivey,
in some one or more of the newspapers published
IN the county, where the bank is located if no
newspaper shall at the time, be printed in such
county, in one or more newspapers in an adjoining
county, which shall most generally circulate III the
vicinity of such bank the last of which pubIicu-
tons shall be at least thirty days before the time
appointed for such payment and if any s;ocklold-
er shall neglect TO make payment on any share,
according TO such order, for the period Of thirty
days from the time appointed for such payment,
such share and all moneys previously paid thereon,
and all dividends accruing or due thereon, shall all
be forfeited To the express use of such corporation.
SEC. -. IL by any means, the capital stock of
any such bank shall be reduced, the amount of FIVE
per cent. below the amount which shall have been
paid into the bank, shall be the duty of the d.
rectors, Immediately to Iuise the amount Of def
cheney, by assessment on the several shares in the
manner and subject TO all the regulations provided
in the preceding section, and the stockholders shall
be subject to the liabilities, and the shares to the
forfeiture provided in that section; and the amount
so raised shall he held and deemed par, of the
capital stock, within the meaning of this act.
SEC. 3d. IL the bank commissioner, on cxami-
nation, shall ascertain, that any of the capital stock
OF any bank shall have been lost, as provided in
the preceding section, he may make an order, re-
qurlng the directors, within a time TO be fixed by
him, to raise the amour, of the deficiency, as pro-
vided in the preceding section and give written no
tice OF such order to the president or cashier of
such bank ; and if the directors shall neglect 10
raise such amount within the time limited, such
corporation may be proceeded against, by such
commissioner, and enjoincd by The Court of Chan
Gerry as an insolvent corporation, as provided in
the eighlic,h chapter of the revised statutes.
SEC. 81. If any such bank shall directly or in
directly, make any loan or discount contrary TO
the provisions Of this act if any such bank shall
directly or indirectly distribute or divide any por-
ton of its capital stock, among the stockholders of
such corporation before the expiration of its char
ter, such bank may be proceeded against and en-
joined as an insoivent corporation as provided in
the eghlieth chapter of the revised statutes
SEC. %, If any director or other officer Of anv
bank, or any person interested in or having charge
or control of the same, shall, corrup,ly or by de-
sign, put or cause to be put in circulation any
amount of the bills Of such bank, beyond the a.
mount limited and prescribed by this act he shall
ON conviction thereof, be confined in the state pris-
on for period not exceeding ten years.
SEC. 33. liany director or other officer, or any
person Interested in or having charge or control Of
the s7w,, shall wilinlly or corrupuy loan or pay
an MONEY! or cause the same to be loaned or paid
TO any director or other officer or stakeholder, or
ind"HNal or company, or corporation, or discount
or caGs' 10 be discounted any bill Or note, or other
obligation OF security, for any snch director, or of
hcer, or stakeholder, or individual, company or
corporation, so that such director, officer or stock
holder, individual, corporation or COMPANY, shall /
thereby become indebted 10 such bank 10 4 greater
amount 'lah l. allowed by the seventeenth section
OF inns ACT the person so offending shall on conNic-
non thereof, be confined to hard labor in the state
prison Tor period not exceeding five years.
SEC o. Ihe shares in any such bank shall be
,a"s'trone III snch manner as may be provided in
,e az, OF ,lnG9rp0rnilom or by the bylaws; but no
"nSI' S''' 90 ta'"i ",'' icoo'oeu w nooN Ncp'
III sn'u JAN, ,o' ''tl P,'ppTe' no, un' 'he person
,'IN7 S', ',""''er s''a' nave o''charS'o al 'he
''' S ., 1'p to', ';' W SUN co' Por''ion
N"o' '' 80" u.s. "oo'P"ro'''s oa"N'n9 co,nPa-
me- "o -" oo p""''' "e,'' am S''', DC
t, =" "' .'''' c''V P''ccS oc"i9n! anu III
,;on"d W. '''' o'"'"''' p"'poSe hc'ch' NELL
''V Srn or ,r,o h,,,. .,..:
otc' 90, ne palk commissioner Il authorized
10 Ns'' anu nspec' Tue condition ana AFFAIRS OF any
V'p"'r..o"' d. "ni unc' um ''' "PP'""-
Wv" y. "". o'co'or VI sl"cNho'dcr II ne ''aIl Judge
~ ! ,
Hho 81, nd ""n"or OF accounts s'iail audil the
nocou'''s .. we n'"n COMMISSIONER ana uraw or
ue's on 's' 7'a.e lrhas"Ier' Tor s"ch sum as he
s''a s,Io ',nu nuc' Whf'h inc treasurer shall pay
o"t VI "lc "'n i"''.
oEc' %; AN ponds' taken according to the pro- t
VISIONS o! 'n'' ACT may De put m SUIT on the appl-
ca''o" Oh me receiver appointed by the court OF q
chohcefy' as prov'aed IN the eshileh chapter of c
inc revised 5'alnt'S. I
L. BANKING M i,
r,'Uh S"oJec' 10 ,ho provisions oil THIS chapter,
f. ,ho nn,o,n, aI .;,,' w., VI .nu o''s'
H. 'rt %,"". CIV" M"i Wv security required IN
b,n, co,nn,;,,;nnor amI W w. "pr'n''u y! '''
uIcr condi,ionoJ ,hn snn ,1;so", "" S b"m'
lima, n,'I wa" '''on onec'orS s''' AZ an
XIII i.,nsd hy snnh I,n,. "u T w 'aw, Il" me
nj Jonn,;,s 'n ""u S"''' ray anu rc'"hu
~ "",'' !" s"I', o'hN, Wneh Soch pay u
"G;'o ,noh L.n I., ",''u Ss'n directors aIe IN II
oii a,n,, 'nnn ,' i n',,c"'tr DC exempt rom
~. , p", ,.I""e" ~ ''e e'sne'h cn,p'er OF II