Indiana American. [volume] (Brookville, Ind.) 1833-1861, 1855-04-27

accommodation IN the convenient trans
action Of its business; or, second, such
as shall have been mortgaged to it in
good faith by way Of security for stock.
loans previously contracted. or for
moneys due; or, third. such as shall
have been conveyed to it in satisfac-
ton Of debts previously contracted in
the course ofits dealings; or fourth.
such Us shall have been purchased at
sales upon Judgements, DEGREES or
mortgages. obtained or made for such
debts; and the said Bank shall not
purchase, hold or convey real estate
In any other case. or for any other pur-
pose; and all such real estate not ab.
solutely necessary for the convenient
discharge ofits business, shall be set
up, at least once q year, at public sale,
after having given thirty days notice
Of such sale, describing the property
TO be sold, and III. name Of the mort.
gager. in at least one new ,paper in the
district where said bank is situated,
and placing three written notices In the
most public places in the town where
the bank Is located, and shall be sold
ifthe same will bring tho amount ol
the debt, interest and costs for which
tho same may been bought, received
or taken by the Bank. and which shall
remain after deducting all profits re-
ceived therefrom. =
Sec z. All conveyances Of real cs'
tate shall be signed by the President
ofthe Bank. and have affixed the seal
thereof.
Sec 0. The said Bank shall not nj
any time suspend or refuse payment,
in gold or silver. Of any Of its notes,
bills, or obligations due or payable, mol
Of fany moneys received upon deposit
and II said Bank at any time refuse o,
neglect to pay any bill. note or obliga
ton issued by such Bank, il demanded
within the usual banking hours, a,
the proper branch where the same ].
payable. according to the contract,
promise, or undertaking therein ex
pressed, or shall neglect or refuse tc
pay on demand, as aforesaid, any
moneys received on deposit, to the
person or the persons entitled to re-
ceive the same, then, and in every
such case; the holder Of any such bill
note or obligation. or the person OF
persons entitled to demand or receive
such moneys, as aforesaid, shall re-
spectively be entitled to receive and
recover interest on their said demands,
until the same shall be fully paid and
satisfied at the rate Of twelve per cen,
tum per annum, from the time o.
such demand. as aforesaid; and any
branch so failing 10 meet its engage
ments may be closed as in case Of in
solvency.
Sec 8. The said Bank. and each ant
every branch thereof. shall mutually
be responsible for oil the debts. note.
and engagements Of each other; ant
the stockholders Of each and every
branch shall be held and bound to al
amount over and above their stool
equal to their respective shares o
stocks, for all the debts and liabilitie,
Of said Bank orsany of her branches
Sec 10. All suits or actions agains
said Bank. or any contract or engage
ment made, or liability incurred b,
the Board Of Directors Of the Bank, O
on any contract or engagement mad,
or liability incurred by the board 0
Directors Of any branch, or on am
bank bill or note, shall be brough
against the Bank Of the State of Indi
ana.
Sec II. The process in such cas-,
shall be a summons, and shall be serv
ed on the President Of the Bank, il
all cases where the contract, engage
ment or liability sued for. shall hav,
been made by tho Board Of Director
Of said Bank; and in all cases wher'
the contract, engagement or liabilit,
sued on, has been made or incurred b.
a branch. the process shall be seryet
on the Presidentof such branch; ant
so also where the suit shall be brough
on any bank bill or noie, the process
shall be served on the President O
the branch at which such bill or not
shall have been mode payable; or, il
! all such cases, copy Of the process
may be LETT ut the banking house, o
place Of doing business Of the Bank
or Of the proper branch, as the cas-
may be, during the usual hours Q
business. which shall be good service
And II is hereby made the duty Of tn
President. or any other officer OF an,
branch knowing Of such service, forth
with TO notify the President and Di
. rectors Of the Bank thereof. In al
: suits brought against said Bank, O
any note. engagement or liability Q
} any branch. such suit shall be brougl
in the county where such branch ma
be situate; and allsuits brought again.
the Bank on any note. engagement Q
{ liability Of the Bank. shall be brougl
! in the county Of Marion. f eas1'
/. Sec l2. There shall be no stay
|, execution on any judgement again.
2 said Bank, nor shall she be entitled o
! judgement ofexecution against her I
. the benefit OF valuation or appraist
Q ment laws. - a
Q Sec Is. Said Bank shall be entitlc
y to charge and receive for moneys loar
!. ed the legal rate ofinterest establishe
: by law in this State, and not NOR,
o and the same may. according to ban
rules, be taken in advance out of II
o sums loaned. and may be compute
Q according to the standard and rate 81
forth in "Rowlct's Tables reckoniu
0 the days for which a note or bill b,
d run inclusively; but il shall not direc
i ly or indirectly. place any money
! the hands any broker or other pc
u son to be loaned 10 others. or charg
d take or receive any interest. compens
n ton or benifit whatever from any loi
i made by ahy other persons or part
IT whether such loan be made from
I, own funds or otherwise. 3. sas .vis
,t Sec Ia, The profits arising. aft
Is paying expenses and reservation for
J. contingent or surplus fund, shall
l. divided among the stockholders a
af