Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1843-01-24


nent of all debts and demands owing 10 |
Iuch bank, it offered at the banking house |
Turing ordinary business hours; provided |
Iuch notes OF bills shall be such as the |
laid banks are authOtiEed to issue, BY au.
honty Of this act, for the purpose Of cir.
Sec. 26. The shares Of capital stock
in all such banks shall be transferable
on the bO oks thereof, in such manner as
may be prescribed in their by>laws, res
spectively, but subject TO the following
prOVisions:- .. g.. -,
No transfer ofsuch stock shall be valid
If made without consent Of the board Of
directors, or If made for the purpose Of
defauding the creditors Of such bank, or
any other person.
: Each bank shall keep plain and &C.
curate list Of the names Of lis directors
and stockholders, their residence, and
the amou nj Of stock owned By each, ,!poSt.
ed up for public inspection, in some con.
spicuOus and convenient place in. their,
public banking room; and it shall be the
ddty Of every such bank to cause such
list OF directors and stockholders, with
the amount ofstock owned by each, 10 be
published annually in some newspaper Of
general circulation, in the county in which
said bank is located.
Sec 80. If any loss Of the capital
stock, or other funds or property Of any
such bank, shall be caused by the official
misconduct, or abUae of power on the part
Of the president, directors, or other off.
GERS thereof, or either of them, the per.
son or persons by whose misconduct or
abuse Of power such losses shall accrue, +,
shall be liable 10 such bank for all dama>
ges sustained by reason of such miScOn.
duct and abuse ofpower.
Sec. 81. Every such bank shall re.
deem its circulating notes or bills from
the other banks, doing business under
this act, at such times, and at such place,
and receive and pay balances as the bank
Commissioners shall direct.
Sec. 80. And such hank shall have
the privilege Of requiring the Bank Com.
miSsOners, at any time, TO make an ex.
animation of the sffairs Of any other bank
subject TO the act, and any stockholder,
in any bank doing business under the pro.
visions of this act, may require the Bank
Commissioners to make an investigation
of the bank in which he is StockhOlder;
and il the said Bank Commissioners shall
find upon such examination, that the said
bank, thus examined, has sunk or dissi'
pated SO much of the capital Of said bank
as shall be equal 10, or greater than, such
banks proportion Of the said safety fund.
said Bank Commissioners shall at once
suspend the further banking operations
of such bank, and place tn same forth.
with in the hands Of receivers TO wind up
and close the concerns thereof,
whose duty it shall be 10 dis.
charge, as soon as practicable, all
The liabilities Of such bank, and after
wards 10 divide the remaining assets Of
such bank among the stockholders there.
Of, pro rata.
Sec. 33. Any such bank, which shall
hereafter resolve to discontinue the buiS.
mess Of banking, shall deliver a cerlifi-
cate of such resolution, properly authsn.
tiCated, 10 the state Register, who shall
cause notice Of such resolution to be
published in some newspaper Of general
circulation in this State, printed at tbe
seat Of government thereof, for the term
Of six months. Such bank shall then pro.
ceed 10 redeem its circulating notes, or
bills, which shall be delivered to the
State Register, and be by him destroyed
by burning the same, of which fact said
Register shall give such bank certificate
and make due record thereof on the books
of his office. Such bank shall also pay
of, and discharge all its other liabilities,
and, having done so, shall give notice to
that effect TO the bank Commissioners
who shall thereupOn make thorough ex.
animation Of the whole matter; and if
they shall find that such bank has redeem.
cd all it's circulating notes, or bills, as
aforesaid. paid offall its other liabilities,
and complied with all requirements Of
this act, they shall make duplicate Ger.
tifcates thereof, one ofwhiCh they shall
Iransmi! to the Governor Of this State,
and the other shall be delivered to such
bank. The Governor, upon receiving
such certificate. and finding the law to
have been fully complied with, shall is
'ue his proclamation, reciting the facts,
and declaring the corporate existence oil
such bank thenceforlh dissolved, and from
lbe time Of issuing such proclamation,
such bank shall cease to be q body cOrpO.
rate or polite, provided, that such bank
shall be entitled 10 use its cOrpoFatSl
name during the term OftwO years there.
after, for the purpose of collecting ito
debts closing up its buisiness,a and divid.
ing ITS assets among the stockholders
provided, also, that if the circulating
notes, or bills Of such bank, shall NOT be
all redeemed as afOrsaid, such bank shall