Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1842-01-11
A BILL

A BILL
To enforce the resumption aud cOnllnu>
ance Of specie payments by the banks
within the Stale Of Ohio.
Sec. l. Bo it enacted By tke General
Assembly ofthe State Of Ohio, That il
any banking institution in this state shall
fail orrefuse, at any time after the day
of one thousand eight hundred and
forly.two, upon demand made at its bank
ing house, or usual place of doing bust
ness, during banking hours, to redeem,
with gold and silver, any bond, bill, note,
check, certificate of deposit, paper or ev.
idence of debt that has been issued, or
may hereafter be issued or put in circu-
latiOn, by or on behalf of such banking
institution, such failure or refusal shall be
deemed and taken as an abandonment
and forfeiture of the charter of such in
stitution, and OF all franchises, powers and
privileges conferred by its act Of incor-
poralion; and parol proof of such refu-
sal, shall be a good defence to any ac-
lion brought by such bank for the recov-
cry of any debt or obligation due such
bank, which shall be contracted subss-
quent to the day above specified; and for
all acts done or liabilities incurred, after
such abandonment and forfeiture, by or on
behalf of such institution, the stockhold-
ers and directors thereof shall be held
jointly aud severally liable in their indi-
vidual capacity.
Sec. 2. Upon the failure or refusal of
any banking institution to make redemp,
tion as aforesaid, such banking institution
shall, moreover, be deemed and taken to
be insolvent, and shall thereupon be sub
ect to the provisions respecting insolvent
Institutions contained in the "Act provi-
ding for the appointment of Board of
Bank Commissioners, and for the regula-
ton of banks within the State of Ohio,"
passed February, 81, 1889, and the acts
amendatory thereto; and IN all such cases
offailure ofrefuIal, it shall be the duty
Of the Bank Commissioners to institute
proceedings against such bank, and pro-
coed forthwith to put its affairs in course
ofliqudatOn and close up the same, pur-
suant to the act aforesaid; and in the ex-
ercise of his duties under said acts the
sheriff to whom any writ Of mandamus iu
directed may break open any house, out
house OF other building, in which the prop
erty, money or effects Of such bank may
be, having first made demand OF entrance
into such building.
Sec. g. That in all actions brought in
any court in this Slate, against any bank
or banker,tO recover money due from such
bank or banker, if process shall be served
upon such bank or bankers ten days be-
fore the term Of the court at which such
process is returnable, it shall be lawful
for the plaintiff to file his declaration in
suit at any time after service OF process
and the defendant shall plead within FIVE
days thereafter, and the cause shall stand
for trial at the term TO which process was
made returnable and in default ofthe
plea, the plaintiff shall be entitled 10 judg
ment at such appearance term; and IN all
cases of appeal, taken by any bank or
banker, from the judgment ofany justice
of the peace, or from any judgment OF
the Court of Common Pleas, if the plain
tiff shall recover in the appellate Courts,
Judgment shall be rendered in favor OF
the plaintiff for the amount of such recoV'
cry, together with twenty five per cent'
penalty thereon.
Sec. q. In oil cases where suit may
be brought against any banking institution
by the holder ofany bond, bill, note or
other claim against such institution, not
xcecding one hundred dollars, any JUS
tice of the Peace, within the county where
such bank is situated, may entertain ju-
risdiction of such suit; all process in such
sui! may be directed to, and executed by
any constable within the county; all mes,
ne process may be returnable forthwith
and upon The return thereof, the justice
may proc eed to render Judgment, and is.
sue execution, and there shall be no stay
OF execution upon any judgment render
ed against any bank.
Sec. 5. All acts, or parts of. acts, con
flicting with the provisions of this act
are hereby repealed. Provided, that moth
ing in this act contained shall be so con
strued as to exempt any banking institu,
ton from any forfeiture, penalty, or liza.
bility imposed or incurred by, or under
any other act, nor TO deprive the holder
Of any bond, bill, note or certificate, OF
other claim against any bank, OF any rIghi
or remedy under other acts; but such
banking institution may, at the option O.
such holder, be proceeded against in the
same manner, as if this act had not been
passed. This act to take effect, and be
in force from aud alter it's passage.
Mr.. Barley, from tho committe6 or
the judiciary, reported back the bill tt
prevent usury and TO regulate The rat,
Of interest, with amendments, which at
Ter some debate, the bill and amendments
we're laid on the table.