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

80 - fFstNtf WI sht1t1 No- $780,
the organization and going into effect
ofsuch association.
Sec. SO. II shall not be lawful for
any association formed under the pro-
visions ofthis act. to make any Of is
bills or notes Of denomination less
than five hundred dollars, TO be put
in circulation as money. payable at
any other places than Al the Office
where the business OF the association
Is carried on and conducted.
See. 80. The Legislature may at
any time alter or repeal this act.
Sec. 80. Every bank organized un-
der the provisions Of this net, or the
one 70 which this Is an amendment.
shall have accepted the provisions Of
this act. shall mutually accept the cir
culating notes Of each other when Of
fered or rendered by any person in
payment OF any debt or obligation.
Soc. 35. Whenever il is proven that
any note or bill issued by any associa-
ton authorized by this net. has been
h'eSe'"t"oss tt@t''}tt VI ioSts tue
person who may have been the holder
thereof. shall be entitled TO recover the
amount so lost or destroyed.
Sec, SO, Every officer, agent, or
blcrks of said ossociation. who shallwil-
fullyand knowingly subscribe, or make
any false statements or false entries
in the books of such association. or
shall knowingly subscribe or exhibit
false papers Will, the intent 10 deceive
any person authorized to examine "a
TO the condition Of such association, or
shall wilfully or knowingly subscribe
or make false reports. shall be deemed
guilty Of felony, and punished rs pre-
scribed in section fifty ofthis act.
Sec. 81. No director shall either di.
rectly or indirectly borrow from said
association. or loan. discount, or by
any other mode. nm amount larger
} than double the amount Of stock own.
ed or held by him in said association,
except on bona fdo bills Of exchang,
, drawn payable ont of this State.
, Sec. 80. No stakeholder In sucl
banking association shall act rs no,
tary public therefor.
Sec. 30. The Auditor and Trcarsurcl
| Of State, or either Of them. are hereb,
, strictly prohibited, during their sever
. al terms Of Office, from becoming dir
Getty, or indirectly, stockholders II
, any bank authorized under this act
r from being interested IN any manner II
any such bank, from borrowing or IN
c dorsing in any such bank. and from re
!. ceiying any fee or reward from any sucl
Q banking association, otherwise than |
$ by the laws ofthis State provided; an,
}. il either Of the above named officer
: shall violate any of the conditions o
i this section he shall be deemed guilt,
o OF misdemeanor and subject TO pun
5. ishmentas provided in section fifty-on
Y hereof.
e See. 40. Every association forme
C for the purpose of banking under thi
IS act, shall carry on their business {
banking at the place designated |
st their issues, and where the director,
il or majority Of them, reside; they sha
also have regular banking house
Is or rooms, provided FOR the purpose {
" banking. and shall have painted abov
the outside door Of said bank, in larg
Of letters, the name Of said bank {
n banking association, ana shall kce
'e regular banking hours. which shall b
of from ten O'Clock, A. M. until thrs
e o'clock. =. NJ. OF each day. sunda,
Fourth of July. Now Years an
h Christmas days, the annual 0ctobs
x elections. and public thanksgivln
&c days excepted.
,f Sec. A. Itshallb be unlawful for an
g stakeholder, president. cashier. clerl
Is teller, director. attorney. agent, {
4, other employee Of any bank. banxin
d company, or any otherperson. associl
IN ton of persons, corporation or Stat
tx 10 purchase or exchange for any bill ,
bills the issue Of any bank or bankin
Ii company or association, created ,
Is acting under tie provisions ofthis &C
he ut rate less than the amount spe,
20 itied upon such bill or bills; any sue
l. person. who shall violate the provision
tx OF. this section. shall be deemed gull,
In of misdemeanor, and upon convi
ton thereof shall be subject 10 Il
ie penalties in section fifty one
IN SEQ, AZ. Every banking associate
tx organized and doing business und,
" the General Banking Law Of this Stat
le may comply with section six Of III
70 act. either by transferring and depos
OF ting the required additional amour
IN of stocks or bonds, or by surrende
ing to..thc Auditor, for cancellation.
ur sufficient amount Of the issues Of III.
DC associations so that the pro rata con
ID templated IN said section shall alwa,
ly be preserved.
III See. -. The State Treasurer shs
n under his hand and official seal, cert
x fly TO the Auditor, whenever so 7
Ia quested by any banking ASSOCIATE,
k. formed under this act, the worth
n. bonds transferred and deposited wi
H. him by them, and the Auditor sh,
thereon register. counicrsign, NJ
al surrender TO such association notes
he be circulated MS money by them, pr
d. serving Away the pro rota coniempla
he cd section six thereof.
be Sec. ~. Whenever the issue Of M
o. bank shall have been protested. rs $
he forth in section nine hereof. the hold
lis or holders ofsuch issues, thus proles
ed and not redeemed. shall recov
TX damages from such bank. ut the ra
ed of ten per ccntum per annum, fro
Ill the date Of such protest until,they a
G, finally redeemed Provided. horeps
on That nothing in this act shall be
of construed as 10 prevent any bank fro
in rcdeeming is own notes with the not
of OF any other hank. when the dcmal
nj Is made on the behalf Of such 9th
ne bank.
ch See. i5. When. In the opinion
Vs. the Governor Treasurer. Secrctal
re and Auditor OF State. on = majority
IA. them. the bonds or stoc' deposited
ii. secure the redemption 9 The is ues
a