The Rodney telegraph. (Rodney, Miss.) 1838-1840, 1840-03-07

traai psE1onal 1ecqEItx. q ol5oEE.s sddi,1
Eas folio lo-vlit !; 3 foul1l 4acl MI
day lbdR Irrh dsbs0l Il -deblSrs rlsaiI sSsIl|
themselves of The proyisiQns IF !his ac1 one
other fourth ii two years; one other fourth
10 thrss geare; mi the reuajniq tpuFth in
four years from and after the day that ouch
|deblor or debtora ssball avail sihemaalxea~ &c
The provisions Of this act. as aforesaid: Pro-
uided, the Directors Of aid Bank shall be the
Judges Of The sufsciency Of such security.
Sec. s. And BIZ Il further enacted, That
when day Of pa yment shall be given By said
Bank to it's debtors, agreeably 10 the proyis-
ions q the fourth section of this net, Il shall
and may be lawful for said Bank 10 demand
and receive from, such debtors interest at die
rate Of nine per centum per annum: Propi-
ded, that no higher RITE Of interest OF dis
count shall be demanded Or received by
said Bank than il is now by law suthorized
10 receive, unless the same be specified and
appear on the face Of the bond, Bill. note, or
contract on which the same is sought to be
recovered. = s
Sec. 6. And BE Il further enacted, That
from and after the acceptance by the said
Bank of the provisions Of this act, the said
Bank shall NOT be liable TO pay, either by
way Of interest or damsges, . larger amount
than nine per centum per annum, on any of
her bills, notes, OF other evidence Of deb.,
hereafterro be protested, registered, or en-
dorsed for non-payment; any law or usage
to the contrary notwithstanding.
Sec. r. And be 1t ti.rfker enacted, That it
shall be the duty Of the Board of Directors,
at the time Of transmitting TO the Governor
the resolutions provided for in the frae sec
ton Of THE act, 10 name to the Governor
some disinterested person. and not stock
holder or officer Of said Bank, q resident Of
Jefferson county, as commissioner, whose
duty it shall be 10 superintend the winding
up Of the affairs of said Bank, and to make
quarterly returns to the Governor OF the
progress and manner Of the liquidation Of the
affairs of said Bank which reports shall be
published three weeks successfully, in at
least one public newspaperof this State, at
the expense Of said Bank; #, in the opinion
Of the Governor, the public good shall re-
quire such publication.
Sec. 8. And be IL further enacted, That il
the Governor shall disapprove the appoint
ment Of q commissioner made by said Bank
as aforesaid, he may reject the same, and
appoint some other person, resident of said
county Of jefferson, and not stockholder or
officer Of said Bank, who shall act as com
missioner, and superintend the management
and winding up of tfe affairs of said Bank,
as herein bef0re provided.
Sec. 9. And be Il further enacted, That it
shall be the duty Of said commissioner, if he
have reason "a. believe, and do believe that
the officers OF agents Of said Bank IRE at any
time acting fraudasently and for the purpose
of injuring and defrauding the creditors Of
said Bank, or embezzling, concealing, or
destroying the property and assets Of said
Bank, to apply to the Chancellor of the
State, or any Circuit Judge in term time or
in vacation, by petition, for process of in
junction, he first giving majority of the Di-
rectors of said Bank reasonable notice; in
writing, OF the time, place, and reasons Of
such application, which application shall be
tried forthwith; and the Chancellor, or Cir
cult Judge, as the case may be, may order
such agent TO take immediate possession Of
the property and assets of said Bank, or may
order such other disposition of the same as
shall best secure their faithful application to
the payment and discharge of the debts ain;
| liabilities of said Bank. hass s1 #s
Sec. 10. And be it further enacted, That
such commissioner shall be paid by the
Bank, for his services as aforesaid, three
hundred dollars per annum. aH1
Sec. IL. And be II further enacted, That
the said Bank shall, at all times, receive its
own bills and notes at par, in payment Of
debts due to the same; whether such bills
and notes are due and payable, or be post
notes having time still to run to maturity.
| Sec. IL. And be Il further enacted, Tint
it shall not be lawful for said Bank to trans
fer or assign its bills receivable, or any of it's
evidences of debts, either before or after
Judgment, so as to prevent the issues Of said
Bank, whether payable on demand or post
notes, from being received at par, in pay
ment or discharge Of the same; and that all
such transfers, for the purposes aforesaid,
shall be absolutely null and void.
| Sec. Is. And be Il further enacted, That
this act shall be deemed public act, and
shall be in force and take efectfrom and
after its passage. i ST ss.a
I'd sssa J. SPEIGHT, lls
| Speaker Of tie House Of Representatives.
GEO. B. AUGUSTUS,
.fstsT So President Of tic Senate.
| Approved, February %. 1870. ::
81 A. G. McNUTT. Il
From the report Of the Postmaster Genes