Plymouth banner., 1855-05-03

vote on questions on which they are in
terested.
Sirth On all applications for loans
Of five hundred dollars or upwards there
shall be FIVE concurring votes out of sev-
en-, and SO on in proportion if any
greater or less number is present; and
any such application is granted. the ayes
and noes shall be entered in the minutes
of the board.
Seuenth. No corporation os any de-
scIiption shall at any one time, be per-
mitted to be indebted, at one branch in a
greater sum than five thousand dollars,
for moneys loaned unless by permission
of the board of directors Of the bank.
Eighth 1t shall be the duty Of the
board of directors Of each branch, as Of.
ten as once in three months. TO cause a
strict examination TO be made Of the ac-
counts of the cashier, and full and com
ment thereof shall be entered on the jour
nails of the proceedings of said board.
Ninth. No peson shall be entitled tc
receive any dividend Of profits on stock
owned. while indebted to said bank foI
any deb, or demand then due end paya-
bic, but the same shall be placed TO his
credit until such debt or demand Is
psid.
Tenth. Five members shall be nee
essaTy to constitute Board for the trans
action of business.
SEC. rs. Every officer. agent. or clerk
Of said bank or branches, who shall will
fully subscri be or make false statements,
OF false entries in the books of said bank
or any branch, or shall willfully and
knowingly subscribe or exhibit false pa
pers with the intent to deceive any per-
son authorized to examine or inquire as
10 the condition of said corporation. OF
shall wiIlfully and knowingly subscribe
snd make false reports. shall be deemed
guilty of felony. and shall be subjec, to
imprisonment at hard labor in the State
Prison. for such term of years as the iu-
ry trying the case may deem proper. and
likewise any commissioner or examiner
willfnlly and knowingly subscribing or
making any false reports. shall be deem
ed guilty Of felony and subjected to like
penalties.
SEC. 76. ANY officer. agent or clerk
employed in said bank or any branch.
who shall embezzle or appropriate the
property or funds of said bank or any
branch. with the intent to cheat and de-
fraud the same. shall be deemed guilty
of felony and punished in like manner.
SEC. II. That the president and d.
rec.ors Of the said bank may empower
any of the branches. at their own ex-
pense. to open books for the transfer of
their stock in any of the cities In the
United States; and any such branch may
authorize transfers Of any portion Of its
stock, without lien, or restriction. on
which the State has no lien, on said
books; which books shall be kept open
for inspection, cenformably to the pro-
visions of the 25th section of this act.
and such transfers shall be regularly GER
tilted TO the bank.
SEc.75. That any branch and branches
shall be authorized to contract with such
board and officers as the State may en-
power. for the receipt and endorsement
or any 6oPos,t OF public funds b, the
State, and for the interest to be paid
thereon, subject 10 the approval Of the
board of directors Of the bank.
SIC. 79. The capital stock o: said
bank and branches. shall be divided into
shares of fifty dollars each. No branch
ehall be organized until capital stock to
the amount of one hundred thousand dol.
lars shall be subscribed therefor. and
the commissioners herein before appoint
ed, after giving at least thirty days no.
uce by publication in three or more
newspapers published in the city Of In
dianapolis, and at least twenty days no.
tice in three or more papers published
in each bank district. or as many as may
be published in any district where there
are not three published. shall cause books
to be opened by subcommissioners to be
appointed for that purpose, for the SUBJ
scription of the requisite amount ofs.ock,
at such places within the districts afo,e
said, as shall have been designated for
the location of branches. which books
shall be opened between the hours of 9
and IL A. NJ, on the days and at the
place specified in such notice, and if the
requisite amount Of stock shall not soon
or be subscribed. said books may be kept
open between the same hours for the
space of thirty days. If more than the
requisite amoun. of stock shall be SUBJ
scribed while the books are open for any
branch. the excess shall be taken first
from such as reside out Of the State. mex.
from corporations. and should there still
be an excess the same shall be taken In
proportion from the subscriptions over
one thousand dollars. until all are re-
duced to that amount. and then from oil
equally.
SEC. so. If sufficient smoun: oi
stock shall be subscribed by responsible
persons at sny branch, it shall be the du,
" Of the sub-commissioners to notify
the commissioner thereof. who shall
give notice to subscribers Of the time
when tie first payment on their stock
shall be made, which notice shall be b.
publication in one or more newspaper
published in the proper bank district
sixty days before such payment IS to be
made, and they shall also give notice II
like manner, that an election will bs
held on the day succeeding that appoint
Il e.. tba n.vmeot of such install m ent