Indiana American. [volume] (Brookville, Ind.) 1833-1861, 1855-04-27
AN ACT
To Establiei q Bank with Branches.

Gee. J. itenactcd by the General
Assembly q the State Of Indiana,
That there all be, and there is here
by. establIs. ed Bank. with so many
Branches as shall be organized under
this charter. to be known and STYLED
"The Bank Of the State of Indiana, -
which shnli continue as such for the
term and period Of twenty years from
the date of its organization, and for
such longer period thereafter as shall
be necessary promptly to close its bus
iness, as hereinafter provided.
Sec. 2. That Thomas L. Smith,
Andrew L. Osborn, Jehu T. Elliot,
Addison L. Roache, and John d. De-
frees, are hereby appointed Commis-
sioners who, before entering upon
their duties. shall take an oath dill.
gently. faithfully. and impartially to
perform the duties assigned them by
this Act. Tl.ey shall keep a true rec.
ord fall their proceedings. which. to-
gether with all the books and paper.
pertaing thereto. they shall deliver tc
the Board Of Directors Of said Banl
when the same is organized.
Sec. 3. Said Commissioners shall
meet at indianapolis, within ninety
days. after the passage Of his Act, ant
il any Of their number shall refuse tt
serve, shall die or resign, they shall
bill such vacancy or vacancies by the
appointment Of some suitable persons
thereto; and they, or a majority o
them. are authorized. and it shall b
their duty 10 divide the State into no
less than fifteen. nor more than TWEEN
ty, bank districts. and to loca;e on.
Branch Of said Bank in each Of sale
districts. at such place as they shal
designate, selecting. where it can b,
done, other things being equal. in eacl
district wherein branch Of the pres
ent State Bank Of Indiana is now loca
ted. the same county in which sucf
branch is located; and they shall ap
point two sub commissioners for eacl
OF said districts whs shall be residens
therein to receive subscriptions o
stock. and perform such other drtie,
as may be required by this Act. l
said Commissioners do not make th,
whole number Of districts authorize,
by this Act. the Board Of Directors o
the Bank may. at any time after bein,
organized. lay of from time TO tim,
additional districts. and locate branches
therein: Provided. that the whole mum
ber established shall not exceed IN,
numbers herein authorized.
Seed. Should any Of the branche,
herein established fail to organize, a
herein contemplated. il shall be III,
duty Of the Directors of the Bank
once In each year thereafter, IL requir
ed by any number Of the citizens VIII,
will be responsible for the expense, 4
open books Of subscription within sue
district. and locate and organize
branch therein. at such place rs the,
may select. il the amount Of stoc
herein required shall be taken and pai
for under the provisions Of this Ac,
Sec. o. The. said Bank shall keep a
office atthc city OF indianapolis, and III
Directors thcreofsh leet and hol
their sessions at IN, q in thre
months. II shall q q ! iy corporal
and roliti;. with porc' sue and b
sued. plead and be impleaded. in an
court oflav II equity. having juri,
diction. and transact all other law
ful business aerein permitted them I
do; and sha. have power by and thrc
hel braDches and not otherwise,
loan money. ouy, sell and ncgotial
bills Of exchange. checks. promissor
notes, and other evidences OF debt, |
discount. on banking principles an
usuages. bill Of exchange, checks. pre-
mlssory notes, and other negotiable p,
per or obligations for the payment
money; to receive deposits, to buy an
sell gold, silver, bullion, and foreig
coins; to draw, issue, and put in circl
lation, bills. notes post notes, bills
exchange. and other evidences of deb
payable to order or bearer. and n
otherwise; and all snch notes and bill
Of exchange, shall be payable on d
mand; and to exercise such OF her inc