Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1844-01-05
From the OHIO State JOurnaI.
The Bank Bill.

IA Dil W IepSal N0hNnlb lu"S lVkN'u''"
Banking 10 Ohio, and TO revive an
extend the charters Of certain Bank
therein named.
Sec. /, Be it enacted By the Genera
Assembly of the StGte of ohio, That a
act entitled An act to regulate bankiOi
in Ohio passed March 7, l842, and tb'
act entitled 'Au act to amend the &C
entitled an act 10 regulate banking II
Ohio passed February 81, l843, be ant
the same are hereby repealed.
Sec 2. That the ACT e0tiIIed 'An &C
70 incorporate the stockholders OF th'
Bank Of Geauga, passed February tenth
one thousand eight hundred and twenty
nine, and The act entitled An act TO iD'
corporate and establish the Commercial
Bank OF CINCINNATI passed February
eleventh, one thousand eight hundred
and twenty nine, and the several acI'
Rmendalory thereto be and the same
are hereby extended until the FIRST day
sol January one thousand eight hundred
aBd fGy-fve.
Sec. 3. That no stock holder in either
of said Banks owning less amount Of
-sock than five hundred dollars shall be
eligible as director.
Sec 4. That no director shal! at any
time, either as principal or surety, be
indebted 10 the bank Of which he is
director, in more than one half Of his
stock actually pain iD; nor shall any one
company or individual be indebted lo
either Of said Banks, in more than the
sum OF eight thousand dollars, either 90
principals or sdretles.
Sec 5. That the total amount OF bills
or notes. which either Of said banks
shall at any one time have in cireua-
lion, shall not exceed once and fourth
time the capital stock actually paid n;
nor she! either OF said banks al any
Slime put in circulation moro than three
dollars Of paper to one Of specie in their
vaults, and in case oil Such excess, or any
other violation OF his act then The nct,
90 far as it con(erS any privileges upon
iho said banking companies, shall thence
forth be null and VOID; and the directors
under whose administration this, or any
other violation Of the provisions Of this
act, shall occur, shall be liable in their
private and individual capacities to any
person or persons for any damage con-
srouent upon such violation; but this
shall not be construed 10 exempt either
Of said corporations, or any estate, real
or personal, which they may hold as bo
dies corporate, from being also first ia~
bic for and chargeabe with, any such
excess or damage; but such Of the said
directors, as may have been absent when
such violation occurred, or may have
dis'ented thGTslrom, may exonerate
themselves from being so liable, by
giving immediate notice Of the fact, and
Of thoir absence or dissent, TO the stock
holders al ther next meeting, which they
shall have power to call for thStpu
pose. and The books Of said banks shall,
Of oil reasonable hours, be open to The
inspection Ofany siockholdOr, who may
desire to examine the same,
Sec 6. That il shall be The duty Of
the directors Of said banks, in tho
month, Of January, April, July and DC.
tober, to cause 10 DO transmitted 10 the
Auditor of State, On accurate statement
OF The condition Of said banks, as it OK
listed on The first Monday Of said mouths
Of January, April, July and October,
which sinIsmCn ntS shall specify The a.
mount OF capital actually paid in, the
value Of reOl estate belonging to The
sNme, the total amount of debts due 10
and from said bOnks, the amount Of spe
cis on hnnd, Of money deposited, Of bills
in circulation and OF notes oI other banks
on hand; and shall bs verified by tho
oalbs ofthe cashier and president, and
ghe Auditor Of State shall, on the receipt
oTsuch statements in January aud July,
cause the same 10 be published three
weeks in some newspaper printed in
Columbus, al the expense OF said banks;
and the directors shall cause the state.
ments made in April and October, to be
published three weeks 10 some newspa
per printed in tho county whore tho
Bank, making such statement, may bo
1oua'cd,
Sec Z. That said banks shall several
ly psy TO tho State ol Ohio five per
crnlum on the dividends Of their profits,
sgreeaby to the act passed March
twelfth, ono thousand eight hundred and
thirty one, entitled AN &C, to tax Bank',
Insutance and Bridge companies
Soc 0, That neither OF SNid banks
shal al any ono time owe, Otherwise
than to doposilorS for money actually
paid and remaining in said banks moro
Than ono and half times The capital
thereof; nor shall the said bOnk' al any
time, engage in the business Of tuYDg
aUd selling stocks Of any description,
nor any business except the usual and