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

ed by dividing the whole loss among
the whole number OF directors liable;
and If any such president or director
shall be unable. by reason Of being in
solvent, or for any other cause. to
pay his proportional part of such loss,
then he residue Of said loss shall be
borne and paid in equal parts by the
remaining directors liable as aforesaid,
until the whole loss shall be reimburs-
ed. or the whole property. rights.
credits and effects Of each Of said d.
rectors shall have been exhausted to-
ward tho payment of such lossl But
this section snail not be construed to
diminish the liability Of directors as
before declared.
Sec. 60. II the moneys remaining
due TO the creditors Of said bank or
any branch whose insolvency shall be
adjudged fraudulent. after distribu-
ton OF its effects of the president and
directors Of such insolvent bank or
branch shall have been exhausted,
shall not be paid by the stockholders.
the deflcicntcy shall be made good by
the contributions Of the stockholders
ofthe branch becoming insolvent. The
whole amount Of the deficiency shall
be assessed on the whole number Of
shares Of the capital stock Of said
branch, and the sum necessary to be
paid an each share shall then be as
eertained, and each stakeholder shall
be liable for the sum assessed on the
number Of shares held by him not ex-
ceeding the nominal amount Of such
shares. in addition to the sums paid,
or which be may be liable to pay on
account Of those shares; but, before
such contribution shall be required. or
assessment made on any shares where
the whole stock had been paid. the in.
stalments unpaid on any shares shall
be required to be paid up. and the es-
Inmates Of the deficiency made accord
ingly.
Sec. 81. That It shall be lawful Tor
the General Assembly. (by end with
the consents Of the President and di-
rectors Of the bank and ofthe presi-
dent and directors Of each branch. and
not otherwise. to make such amend
ments and alterations in this charter
as may be cxpedient: Provided. That
said bank or any Of its branches. shall
not be authorised BY any such amend
ment to suspend or refuse the pay
ment Of specie for its notes, bills or
obligations. or for any moneys receiv-
ed upon deposit, and that no such
amendment shall be made. the faith
Of the State is hereby pledged to the
cseditors ofsaid bank and branchcs:-
And further Provided. that the State
reserves the right to authorize the es-
enlistment Of additional bank: dis
tricts and branches with the consent
Of the boards Of directors Of two thirds
the branches then organized.
Sec. 92. II shall not be lawful for
the said bank. after the expiration Of
twenty years from its ororgani.
cation. to discount. loan money. or
do any other banking business; and
all the powers here conferred shall
cease. except those incidental and
necessary to close up its business. for
which purpose its organization may be
continued for any period Of time not
more than three years thereafter.
Sec. 90. This act shall be taken and
received in all courts. and by all judg-
es. magistrates and other persons as a
public act; and all printed copies oil
the SANS which shall be printed by OF
under tho authority Of the General
Assembly shall be admitted rs good
evidence thereof, without any other
proof whatever.
Sec. 90. All expenses incurred In
carrying into effect the provisions Of
this Act rhall DO paid by said bank
The board Of directors. when organ
lied. shall make reasonable allowances
for the services Of the commissioners
and other egents employed. and may
require each branch to contribute a
rateablc proportion for the payment Of
all such branches.
Sec. 95. Inasmuch as Il is desirable
that the commissioners appointed BY
this Act shall be qualified and perform
their duties. without delay. IL is de-
clared that an emergency exists 10
this case. and this Act shall be in force
and take effect. from and after its pub
iication in one or more newspapers
published in the city Of indianapolis.
Passed Senats. Feb. cath. 1855.
SOLONTURMAN, Sec'y.