Indiana American. [volume] (Brookville, Ind.) 1833-1861, 1855-04-06

hhio oank ia OF ~ 70 DC tocAttos 10 the
effect that such owners are possessed
OF taxable property. free from incum.
brance and subject TO execution. ether
than the interest in said bank, and
within the limits Of this State, 10 the
amount and va,ue Of not less than
twenty-five per cant. Of the amount
Of tho circulation Of such bank: or,
in lieu Thereof, said owners shall Gle
with said Auditor bond. 10 be APP
proved by the Governor. Treasurer.
Secretary and Auditor, or n majority
Of them, 10 The amount Of twenty-five
per cent Of said circulation: and as an
additional security for the redemption
AZ the issues Of such bank. said cerliG.
cate OF bond shall be renewed annually
ane the Auditor shall Withhold the in
terest due said association until the
provisions Of this section are complied
with.
q Sec. ~. When in the opinion OF the
Governor, Treasurer, Secretary, and
Auditor Tor majority Of them. the
public good requires il. they should
appoint some competent person, who
shall be termed Bank Commissioner
TO examin into the condition Of any
or all the banks Of this State, organix-
ed under the General Banking Law Of
1859, or any subsequent law; and
such commissioner rom the time he
enters any bank designed TO be examin-
ed, shall have the entire control Of
the same, It's safes, It's books, and its
papers. and all other things necessary
to enable him 10 make n complete and
thorough examination OF the same;
and any shareholder. director, or OH.
GERS Of such bank. OF any other person
who shall resist such commissioner. or
who shall refuse TO give him the facul-
ties facilities above referred to. shall
be deemed guilty Of misdemeanor. and
upon conviction thereof shall be pun.
ished rs precribed in section ff,y-one
thereof. and any tuch commissioner
making false report Of the condition
Of any bank AS examined as aforesaid,
shall be deemed guilty Of felony. and
on conviction thereof be punished as
prescribed Ia section fifty Of this act
See. 40. Every bank or banking as
ISOLATION organized under the provis>
ions Of the general banking law Of this
State. may in case II shall imme dlately
after the passage Of this net. pay al
It's circulating notes in coin upon de-
mand, have until the iirst day Of March
1867, 10 wind up or accept the proyis-
ions Of this act; Pyopided that the Au-
ditor shall in no case issue any circnlat-
ing notes TO any bank until ii |. shall
have fully complied with the provisions
, of this act; and provided further that
+ IL any bank shall fail 10 pay its elrcul-
ating notes in coin, IL should be wound
up and closed by tho Auditor pursuant
, TO the provisions OF this act.
Sec. 40. Whenever, in tho opinion OF
the Governor. Treasurer, Secretary
s and Auditor of State. or n majority
( Of them, any Of the banks or banking
d associations. acting under the General
/, Banking Law Of this State. have violat-
4 cd the condition Of section twenty
[, seven, or thirty of this act, such fsc,
4 shall be forthwith conveyed TO the
Q said Auditor. who shall Immediately
Q proceed to give public notice thereof
r IL two ne wspapcrs printed and publish.
p Ell ia the ulsy at New -Yarl. and In
e two printed and publiscd in the city
9 Of Indianapolis. stating in substance
!, that such bank or banking association
d has failed to comply with the laws Of
r this State regulating general banking.
q and that the bonds or stock transferred
or deposited in the Office Of tho Treas
Y urcr Of State by such bank or banking
!, association. viii be within twenty day.
n from the date Of Of the first publica.
= ton rs aforesaid. sold in the city OF
!. New York, specifying the precise
}. place. at public auction. by said Au-
" ditor or his agent: and said Auditor
. In compliance with said notice. shall
II sell said stock or bonds, and with tho
/, proceeds arising theiehom. redeem
}. the outstanding issues Of said bank o,
h banking association, in proportion thai
IS the proceeds bear TO the said ouistand
y Ing issues: provided. however tina
J. the place Of doing business Of an,
@ bank henceforth | heretofore establish
ed. may within six months after the
n passage Of this act, be changed "a
n some other place Of greater commcrci
,, al importance to be approved by thu
IS Governor and Secretary Of State, ,
/. certificate whereof shall be 6led In the
It Office Of the Auditor of State, after
:. which the circulating notes Of such
a banks. shall be deemed TO be payable
h Mt the place designed therein.
|. See. 30. Any person or persons
- violating section sixteens thirty six, or
forty.seyen Of this act. shall be deem.
II ed guilty OF felony. and upon convic
|. ton thereof shall DC fined not exceed
Q. ing ten thousand dollars, and be i'm
N prisoned in the State Prison. not les,
of than two nor more than fourteen year,
n and be forever after rendered incapa
II Bile AZ holding any Office created by
d this net.
10 Sec. 81 Any person or persons
.. violating sections thirty nine, forty.
/. one. or forty-seven of this act. shal
be deemed guilty Of misdemoanor. and
" upon conviction thereof. shall be FIN.
Il ed In any sum not less than one thou.
n sand dollars. and be imprisoned in III,
/. jail Of the proper county, not exceed
r ing one year. and be ever after ineligi.
70 bic to any Office Of trust or profit.
m See. 5e. Any bank. or banking ~
re ISOLATION. organized under the Gene
=. raj Banking Law Of this State. or here
70 after TO be organized. desiring 10 x,
m into liquidation for the purpose Of clos
Is ing business. shall give public notice
ID Of that fact In two newspapers at In
n dianapolis. and In one published a
the place or nearest 10 the place wher
Of such bank or banking association d
y located and the Auditor thereupor
Of shall receive and cancel all The issuel
to Of such bank or Banking association
Of that may from time 10 time be presen
- r