The Cadiz sentinel. [volume] (Cadiz, Ohio) 184?-1851, 1845-03-05

ing IN any SUCH county, snail elect 10 become IL
branch Of the State Bank of Ohio. the commits q
sioners hereinafter appointed, shall reduce such
number othe number in this SECTION limited, in
conformity tothe rules prescriOedin the eleventh
section of this act. /
See. 3. To carry into effect the provisions
OF this act, John w. Allen, Joseph Odds, Daniel
Kilgore, Alexander Grimes and Gustavas Swan,
shall be and they are hereby appointed commits
%sioners, and they, or a majority of them, after
taking an oath diligently, faithfully and imparti-
ally to perform the duties assigned them b. this
act, IA certificate of which oath shall be filed and
carefully preserved in the Office of the Secreta-
Try Of State, shall constitute u board to be deslg-
mated the board of bank commissioners; which
board shall continue for one year from the date
of this act, and thereafter the duties which they
are required, by this act, 10 perform, shall de-
.volyc on, andhe performed by, the Auditor, Trea-
surer and Secretary of State, who shall be COM
missioners to perform such duties; apdi if any of
said commissioners shall refuse to serve, shall
die, or resign, his place shall be flledby the Gen
eral Assembly, by joint resolution, if in session,
and, if not, by the Governor.
Sec. 6. Said commissioners shall meet in the
city Of Columbus, at such time within thirty
days after the passage Of this act, as shall be ap-i
pointed by the Governor, who shall notify each
member of his appointment, and of the time and
place of meeting; they shall, when met, appoint
one Of theii number to be their president. who
shall, under the order Of the board, sign all Off
cial documents; and they shall cause a fair and
true record of oil their official proceedings, TO be
kept in 4 book provided for that purpose.
Sec. 7. Persons associating TO form a bank
ing company, Shall, under their hands and seals.
make a certificate, which shall specify
First-Thc name assumed by such company,
and by which it shall be known in its dealings,
5 in which name shall be included the name of the
f city, village, or town, in which its banking oper-
atoms shall be carried on:
~Second-The amount of the capital stock of
! such company, and the number of shares into
i which the same is divided;
Third--Tho name and place of residence and
the number of shares held by each member of
0 the company;
Fourth-Ihe time when such company shall
G have been formed;
n Ffh-That such company has elected 10 car
e ny on its operations as an independent banking
company, or, as a ''branch of the State Bank Of
n Ohio" as the case may be, which certificate shall
d be acknowledged before a justice Of the peace
Il or notary public, and shall be recorded by the re-
: corder Of the county where such company is TO
be established, in a book to be kept by him for
|, that purpose, which shall at all times during Of
e fec hours be kept open forthe inspection Of any
person wishing 10 examine the same; one copy
}. Of which certificate duly certified shall be trans
l. m;tted 10 the Secretary of State, who shall re-
cord and carefully preserve the same in his Of
fec, and another TO the board of bank commits
d %sionors.
n SIC. s, No company shall be permitted to
C commence Or carry on the business Of banking
e under the authority of this act, as a branch OF
l. the State Bank of Ohio, unless lis capital stock
shall be at least one hundred thousand dollars,
nor as an Independent banking company, uH,,ioss
its capital shall be al least fifty thousand dollars,
IF nor in either case shall the capital stock of any
such company exceed FIVE hundred thousand dol
lars; provided, however. that the certificates of
the funded debt Of this State, or of the United
States, deposited with tie Treasurer of State, as
d collateral security for the redemptiono of The notes
,e of circulation of any independent banking COM
II pany shall not he deemed a part of the capital
stock Of such company, within the meaning OF
this act. At least thirty per cent. of the capital
stock of each company shall be paid in gold and
III Jaw NO'i9 VI AN Sitl' ulChhS bllS lIuil VI "II'%h
h thirty per cent, at least, shall be in gold and sill,
ID yer coin, and shall be in the actual possession and
al bona Gde the property Of the company at the
time of the commencement Of its banking bust
g ness, and at the place designated for carrying on
such business, and the remainder of the capital
s. stock of such company, shall be paid in, in III
J. stalIments each of at least ten per cent. on the
n whole amount to which the company is limited,
ID as frequently as one installmcnt at the end OF
each succeeding ninety days, from the date Of
the commencement OF its banking operations,
until The whole amount of capital stock is paid
,c in; hut when any banking company formed under
ID the provisions OF this act, shall have paid in at
least sixty per centum on the gross amount of its
capital stock, and shall deem a further extension
of its capital unnecessary, such company may, il
f. a branch of the State Bank of Ohio, apply to the
10 board of control, or, if an independent banking
company, 10 the governor, for an extension O
ID the time for paying in the remaining installment:
on lis capital stock, and if, alter careful exafni
o. nation Of the facts, the board of control or the
III governor, rs the case may be, shall be satisfied
a. that public convenience docs not require an in
h crease of the capital stock of such company a;
ID rapidly as required by the foregoing provisions o
this section, the board of control or the governor
n, as the case may require, shall authorize such fur
ii Their extension of The time for paying in the re
a. maiaing instalIments as shall be deemed compa
tible with the public interest; aad this section
ID shall not be so constructed as TO prevent any in
dependent banking company that, previous tt
commencing its business as a bank, shall have
tn paid on IFS capital stock not less than thirty thou
n sand dollars, and shall have deposited with, anC
III transferred 10 the Treasurer of State, certificates
d. of funded debt, as required by this act, to an,
amount not less than seventy thousand dollars
I'd and shalt also have complied with the provisions
in Of this act, other than such as relate 10 the amour