The Cadiz sentinel. [volume] (Cadiz, Ohio) 184?-1851, 1851-04-30

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or out Ol iiiis State, which snoies shall not al
that lime he receivable at par in Patnent ID
debts. and by the company so paying out oI
circulating such notes, nor shall il knowing
| ly pay out or put il, circulation any notes is.
sued by any bank or banking company which
at the time Of such paying out or putting in
circuIaiion, is not redeeming lis notes in
gold and silver, nor any notes issued BY any
bunk oul Of this State, of denomination less
Than FIVE dollars hn2.1cdiuP sde1=a
Sec. 81. All notes, bills. and other evil
ldcnces Of debt excepting bills Of exchange,
discounted by any banking company, shall
be made by the terms thereof, or by special
Endorsement, payable solely 10 such company
and no such evidence Of deb, shall be as.
signable, except for collection, or for the
following purposes FhstZ To pay and rcG
ldeem the rcu'ating hoies of such company
Second To pay other liabilities Of the said
cOmpany,an after such iabilities shalt have
been discharged; Third--To divide Among
Ilhe shareholders on their stock iI " ~
Sec. 2S. All transfers OF ihe no:es, bonds,
bills OF exchange, and other evidences OF
debt, owing TO any banking Uompany, or Oi
pepOsits TO its credit, all assignments OF
mort gr ges, or other securities an real estate
lor Of judgements or DEGREES in its favor, all
deposits Of none y, bullion, or other valuable
thing for its use, or for the use Of any OF lis
stockholders or creditors, all payments ni
money TO either, made after the commission
Of an act Of insolvency, or in contemplation
thereof, with view to prevent the applica>
ttion Of its assets in the manner prescribed by
this act, or with view 10 the preference al
one creditor TO another, except in payment
of its circulating notes, shall be held utterly
null and void. ........... -.....,. ...5, ...t.
Sec 20. lf,he directors ofany banking
company which shall have nyailed itself OF
any Of the privileges granted by Ibis act shall
knowingly violate, or knowingly permit any
|ot the officers, agents, or servants Of such
company, 10 violate any of The provisions Of
this act, all the rights, priyeleges, and finn
chises Of said company, derived from Ibis
act, shall thereby be forfeited; such violation
shall, however, be determined and adjudget
by court Of competent jurisdiction, agrees
ably to the laws Of Ibis State. and the prac-
#tjce Of such cou,t, before the corporation shall
be declared desolved, aud in case OF such viola
ton every director who participated in,or as
senled tothe same, shall I've held liable in his
personal and individual capacity, Tor all
damages which the company, its shateho'-
ders, OF any other persons,S body polite or
corpUrate, shalt have sustained in consequence
of such violation. ''' ,..
Sec. 80. Every President, Director,
Cashier, Teller, Clerk, OF Agent, ofany
banking company, who shall emhezzle, alb.
straci. or wiltnIly mis.apply any the nlon-
eys, funds or credits Of such, company, or
shall, without authority from the directors.
issue or put in circulation any Of the not es
of such company, or shall put IN circulation
any bulls or notes purportlng 10 be the cir
culating bills or notes of such bank, other
than those delivered to such ,5a nix by the
Auditor of State, ms provided for by this act,
either with Or wihoutt the All nFhotlty oi the
directors, or shall without such aullnEIty is
sue or put forth any certificate Of deposit,
draw any order or BID OF exchange, mlke
any acceptance, asSignany note, bond, daft,
bill of exchange, mJr'gage, judgement or
decree, or shall make any false cn'ry on any
~ ~ Pi' w s'''e"""' vi '"" S'"P'"9'i
WI" W. u" ,n'e"' !" e''"e' case 70 '"l"'e o. "e,
fraud such company, or 10 :nj're or defranii
any other company, body corporate or poIi'
tic, or any individual person, o, TO deceive
any officer or agent appointed 10 inspect the
atiaiis of any banking compaEy il the State,
shall be guilty OF a Insdemeahor, and upon
y Io"s,c'ion '"eieo' Sna'' oe conhnea % u ehe
reh''eh'iaty AZ harq iaooF, no' ieSs man nse
nor more 'hah 'en years. -..I.'l's..s
~ See. 81. i shall be the duty Of The Aus
dltor OF S'aie, to receive r.ntila'ed clrcuia-
ing notes issued by him 70 any Of such bank
ins cotnphnIes,and 70 deliver in place there's
Ut other circulating notes 10 IN equal amount ];
and the said .mutiIaed notes, after a memo
randum shall have been entered "a The Prep
er book Or books, shall be burned 10 ashes
by the said Auditor, IN the presence OF the
Secretary Of State, and the otiiitr or agent
Of said company by whom the said notes
shall have been dellvered,to the said Auditor;
and a certificate ol SAID burning; signed b,
said Auditor, shall he made IN The books Of
Ihe re9ls'rr,, and q duplicate thereof given
10 SAID 'pgenl, NJ a8, y. ..5r,,s
Sec SO, The Auditor Of State shall give
oany company by whom any stock sha Il
aaye Geen deposited according to the provi- |
,ipnS Of this ct,powers OF attorney 10 receive
he inlercs, or dividends lher, on which iu-
crest or dividend such, company lnay re-
:eige and Apply, to. lis own ilse; but, such
powers vi auernsy sL ali become void upon
inv such co,npaiy falling 10 redeem The
notes issued by such companmy;l nv
however, ,ha, whenever tie price