Indiana American. [volume] (Brookville, Ind.) 1833-1861, 1855-04-27
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contain such statement oil the condi-
ton of the same as aforesaid, as the
same is found on the third Saturday Of
November, in such year. ut two o.
clock in the afternoon.
Sec 81. The directors, and all other
officers and agents Of the Bank, and of
each branch, shall severally, before
they enter upon the duties Of their
Office. make an oath or affirmation well
and faithfully. to discharge the duties
Of the same.
Sec &c. The stockholders Of each
branch shall by ballot, annually elect
not less than FIVE nor moie than ten
directors for such branch, the number
to be settled by the directors Of the
bank; and the directors Of the bank
shall appoint two directors for each
branch; such branch directors shall
hold their Office for one year, and un-
I'll their successors are chosen and
qualified.
Sec 63. The said branch directors,
at their firstmeeting after each election
shall choose one oftheir number to be
president, and shall have power to ap-
point cashier. and such other officers
and agents as they may deem neces-
sary, whose term Of Office, and whose
compensation, together with that Of
the President. shall be established by
the directors. They shall also have
power to Gil oil vacancies occurring in
their own body. except in those ap-
pointed by tho Bank, which shall be
filled by the directors Of the Bank.
Sec 81. No director appointed by
the directors OF the Bank shall be
chosen moro than twice in three years.
Sec 65. No branch director, except
the president, shall receive compensa-
ton for his services, unless by the vote
Of the stockholders.
! Sec GO. No person shall be elected
a director Of branch, by the stock
holders. who shall be in arrear to such
branch. nor unless such person shall
be.a citizen Of the State and q stock
holder. owning in his own right, and
not in trust. at least Eve shares in such
branch. But in case there should NOS
be sufficient number Of stockholders
owning live shares, to constitute the
directory, they may be elected out
OF those having the highest number Of
shares. -. rsr
| Sec 67. II, during his term of Office,
any director shall become in arrear, or
fail IN business. remove from the State.
or cease to own the requisite amount Of
stock. orolherwise become disqualified.
it shall be the duty Of the said Board
Of Directors forthwith to vacate his seat
and appoint another in his place.
Sec 68. No person shall BE- a dircc-
tor in more than one branch at the
same time; nor shall two or more
partners be at the same time directors
Of the same branch, or of the bank
and a branch thereof; nor shall di.
rector of any moneyed corporation,
having power to discount and receive
deposits. be director of any branch.
Sec 60. The board of directors OF
each branch shall have power to re-
quire such security from their officers
and agents for the performance Of
their duties as they may deem neces-
sary.
Sec 10. 1t shall be their duty to
make report of their business and con-
dition Of their board to the Directors
of the bank, once in each month, and
oftener il therefore required by said
board, setting forth all the particulars
required in their reports TO the Leg
islature, and shall also send copies
oftheir monthly reports to each branch.
Sec IL. The board Of directors OF
each branch shall keep book or
books, in which shall be entered and
faithfully recorded Journal Of all
their proceedings, which book shall be
open 10 the inspection Of all the Stock
holders. at all regular meetings Of the
same, and also be open TO the inspec-
ton Of any three stockholders. hold
ing together in their own right, TWEEN.
ty shares of stock on application by
} them, made by the President or Cash.
ier.
Sec 72. All elections by the severa
boards Of directors shall bc vipa pocs
and recorded.
Sec 73. The directors Of each branch
shall have power TO make and pre-
scribe such bylaws. rules, and reg.
ulations rs they shall deem needful,
touching,
First. The Government Of their re.
spective. branches. and the manage.
ment and disposition Of its stock, busi.
ness. property, estate and effects.
: Second. The time. manner, and
terms upon which discounts and de.
posts shall be made and received in,
and by the same.
Third. The duties and conduct ol
the officers, clerks, and servants en-
ployed by the same. and
! Fourth. All such matters as may
appertain 10 the concerns Of said
branch; subject to the control Of the
directors Of the bank in the cases and
according 10 the powers herein given to
the directors Of the said bank.
Sec "a. In the management Of theil
business the board Of directors shall
observe the following rules:
First. No branch shall loan money
on the security Of its own stock.
a Second. Nopcrson shall be accomo
dated with loan while in arrears fol
: stock, for interest or for loans had eth,
er on his own account or as security
for others. and their due, unless the
: sums so iue be retained and first psit
cut OF such loan.
!, Third. In the renewal Of notes th'
securities shall never be lessened.
d Fourth. No director shall be allowet
to borrow out of the bank on any 9th
i er than the usual banking terms.
n Sec. rs. Every officer. agent, o
is clerk of said Bank or branches, VIII
wilfully and knowingly subscribe o
c make false statements, or false entrie
in the books Of such bank or an,
IS branch, or shall wilfully and knowing
d subscribe or exhibit false papers wit