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

OF which shall be refused. And in
this case any officer having charge OF
such book shall refuse to permit such
examination, he shall. for every such
otfense forfeit the sum of fifty dollars,
to be recovered in an action Of debt by
the person so refused.
Sec &c. Stock shall be considered
as personal property, and may be
sold on execution and transferred on
the books ofthe branch by the officer
selling the same, but in all cases be
subject to lien in favor Of the bank,
for all debts, bona Jide due. or then
owing and to become due the same,
from the owner.
Sec. 27. After the first election, no
stockholder who shall not have held
his stock, for which he votes, for three
calender months previously to the days
Of election, shall be entitled to vote;
and the number Of votes to which
stockholders shall be entitled, in vot-
ing for directors shall be in proper
tion following: that's 10 say, for each
and every share not exceeding fifty.
one vose; and for every five shares
over fifty and up to one hundred, one
vote; for every ten shares over one
hundred, one vote; stockholders may
vote in person or by proxy, but stock
holders who are not residents Of the
United States shall not be entitled 10
vote for their stock.
Sec 90. No president. cashier,
clerk or teller Of said bank, or any
branch thereof, shal! be permitted 70
vote at any election Tor directors as
the attorney. agent or proxy Of any
stockholder. No president. cashier OF
director ofthe bank. or president OF
cashier Of either Of the branches. shall,
during the term Of his Office, he eligi.
BILE 10 seat In either branch Of the
General Assembly Of this State.
Sec. 20. There shall be board oI
directors Of the bank, which shall be
styled the Board Of Directors Of the
Bank Of the State Of Indiana. Said
board shall annually, after its first or
ganization, elect one Of its members
president, at such time and in such
manner as shall be prescribed by by
law who shall hold his Office one year
and until his successor is elected ant
qualified. 1t shall be his duty to pre-
side at all meetings Of the board. ts
call special meetings thereof when he
shall deem it necessary. and to trans
act all other business appertaining t'
his Office, or required by this act. ol
by the laws of said bank. He shall
receive an annual salary, to be allow
ed by the Board OF Directors Of sale
bank, not less than one thousand mol
more than four thousand dollars; pay
able quarterly.
Sec. 80. The General Assembly
may, at its present session. elect foul
directors OF said Bank, two of whom
may be chosen by the Senate. and two
by the House Of Representatives; tn,
House Of Representatives concurrine
in the election Of those chosen by th,
Senate, and the Senate concurring il
the election Of those chosen by tn,
House of Representatives; but in cas'
Of a failure to elect by such concur
rent vote after three trials, all said di
rectors shall be elected by the join
vote of both Houses. Said director
shall, at the first meeting of Boare
after their election, determine, by lot
which shall serve for two years ant
which for four years. and thereafter
at each biennial session Of the Legisla
ture, two directors shall be chosen il
like manner, or in such mode as ma,
be otherwise provided by law, VIII,
shall hold their Office for four years
and until their successors are electe,
and qualified. Such directors, or an,
one of them. may at any time be re
moved by joint resolution Of the Gen
eral Assembly. Their compensation
shall be fixed by the Board Of Direc
tors; but the compensation Of an,
member Of the Board shall not be in
creased during the term Of his ap
pointment.
Sec. 81. Vacancies occurring i
the Office Of any State director shal
be filed by appointment, to be mad
by the Governor, until the same shal
be filed by the General Assembly,
in this Act is provided for the electio
OF directors.
Sec. SO. The Board Of Directors Q
each branch shall annually. and a
often as vacancy may occur, eles
one director for tie Bank. whose com
pensation shall be fixed by the branc
directors. and paid by such branch.
Sec. 33. IL shall be the duty Of sal
branches to receive and pay out tn
revenues and funds OF the State, unde
the direction and control Of the Treas
urer Of State. whenever the Legislr
ture may so direct.
Sec. 80. The Board Of Directors {
the Bank shall have power to appoir
q cashier, and such other inferior off
GERS and agents as may be necessar
TO carry on their business to fix the
7 term OF office and compensation. an
require such bond and security froI
them as they may from time to tim
deem expedient.
! Sec. 35. The directors OF the Ban
shall have power to limit and contr'
the amount of discounts and loans ,
the branches. after they shall amour
to one and n quarter tho amount I
the capital stock paid in. to settle an
adjust the accounts and balances b.
tween them, and for good cause ma
. suspend the operations Of the sam
They shall have power, and it shall !
! their duty, TO regulate and equal;
: the State funds AMI public deposi
r that may be in bank. and may tran
a fer the same from one branch to al
r other, as circumstances may require
n but they shall in no case withdraw NJ
e part OF the capital stock Of any branc
o or any part Of its local funds, witho
: the consent Of the Board Of Directo
n Of such branch, to be used in any OF
h er branches, except in cases requiril
@ such branch to be closed, as here
K provided for; and they shall ha
IS power to make and prescribe all ne