Liberty advocate. [volume] (Liberty, Miss.) 1835-1866, 1840-02-13

smbezzle any the hssets OF said Bank as a.
oresaid committed % their charge, or apply
he same 10 his or thor own use, he or they
shall, on conviction thereof, be adjudged guilty
Of a high misdemeaabr and be fined in the sum
of twenty thousand dollars. and be imprisoned
not less thanthree months nor more than two
years.
SEC. l2. BE further enacted, that if in
the opinion Of the Governor, it be safe and
consistent with the public interests that any
bank, under trial Or forfeiture, as aforesaid,
should be entrusted by its own directory and
officers with the liqidation Of tsaffairs, he may
SO certify to The Court before which suit may
be pending, or decided. which may tliercupon,
as soon as the suit ny be decided against such
bank, teran order that the affairs Of such bank
may be liqudated by its own directors and off
GERS; which order shall authorize them and
their successors, chosen according to charter,
to proceed in liquidation, in the name of said
bank, IN the same manner, and liable to the
same duties and penalties as are herein before
provided in relation 10 said commissioners.
But said bank shall alwaysbe subject TO the
provisions ofths act, and of any law rcgua-
ling the same.
And f the directors or stockholders of any
such bank as is or may be embraced within the
provisions Of the foregoing sections Of this act,
shall desire 10 submit to be placed in the hands
OF commissioners, or otherwise, according to,
said sections, il shall be lawful for such bank
by the written assent pitts directors or stock
holders, according to tile provisions ol'its pres
ent charter, certified by the proper officer, under
the corporate sea, to assent that Judgment OF
orielure may be rendered, and:lodge the same
in the office of the Secretary of State: where
upon the same shall represented to the Circuit
Judge OF the proper county, who shall, as soon
as practicable, at a regular term, or special
term to be by him appointed, as herein direc-
ted, enter judgment Of forfeiture, which shall
be followed by the same consequences, in every
respect, US 1.-THE same had been rendered in
the manner herenbefore provided.
Sec Is. Be il further enacted, That when
ever, in the opinion Of the Governor, the public
shall BE- in danger Of being defrauded by any
bank, or such bank has violated its charter, and
designs to evade, defeat, obs,ruct or counterfeit
the provisions Of this act, he is hereby author
lied to cause the attorney general, district ut
torney Of the district in which the principle
bank is located, or any person by him special
y commissioned for that purpose, to prefer a
complaint, at the instance OF the State, i'll the
superior court ofchancery, stating the grounds
Of such complaint, and praying that such bank
may be enjoned from any further proceeding
in their business. Whereupon, the chancellor,
any Judge Of the high cour, Of errors and ap-
peals, or circui. Judge, whether in vacation or
Fierm time, to whom application shall be made,
shall forthwith issue citation TO such bank,
directed TO, and to be served upon the president,
cashier, or other chief officer, or a majority Of
the dire ctors, trustees, o: managers thereof:
commandng the said bank to appear before
such Judge or chancellor, as the case may be,
on day, and at place to be named IN the
citation, then and there TO show cause, If any,
why writ of injunction should not issue ac-
cording to said prayer; and if, upon examina-
ton ofthe president, directors cashier, or other
officer or person engaged in the management
of such bank or corporation, and such other
testimony as may be adduced, with an lnspec-
ton oftheir books, papers, and the like, II deem
de necessary, the said Judge OF chancellor shall
be ofopnion that the public is in danger Of
being defrauded by such bank, or that the same
has violated its charter, and designs TO evade,
defeat, obstruct or counterfeit the provisions OF
this act, such Judge or chancellor is required
to cause 10 be issued an injunction 10 the presl.
dent, directors, cashier and other agent OF SAID
bank, enioining them from proceeding IN trans
acting the business thereof, and TO appoint not
exceeding three dsinterested persons 70 DC re-
ceiycrs Of all the evidences Of debt, goods, Ell
fects, books, papers and property OF every des-
crplion belonging to said bank, who shall give
bond TO the Governor and his successors, in
such penalty, and with such suretIes ana con-
dilions as the Judge or chancellor shall direct,
for the faithful discharge of said trust and snail
take an oath as required Of commissioners, nj
tho foregoing sections. Said injunction and
receiving orders shall be returnabe and return
ed to the superior court Of chancery, where the
said matters shall be under the direction, order
and control of said court, according 70 the
course Of the law in like cases Of fraudulent
debtors.
SEC. Ia. Be II further enacted, That the
writ of ouo ,carreato, as herein after provided
ior, shall, and may be issued and proceeded
OF. Notwithstanding such injunction as aiore-
said; and If the same be determined at law a.
cainst such bank, the assets Of sad BANK, IN
he hands ofreceiyefs, or otherwise, shall OeI
delivered ITO commissioners, to be appoln-
ted in manner horeinbeiore prescribed.
SEC. Is. Be further enatced, That the
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