Eaton Democrat. [volume] (Eaton, Ohio) 1843-1856, 1856-05-15

New Series. t5.s .t.,.. a.
lders, directors and officers are men Of fespon-
sibility andsutesfity and entitled To- the public
lconfdence, and the amount OF capital stock or
(which each is the bona fde owner, whether
Isuch bank has complied with all the require
lments Of this act necessary 10 eRtille the bank
ltoengagv in The business Of banking, and shall
cause 10 be made and atiested by the oath OF q
majority Of the directors, and by the cashier Of
lsuch bank, statement oi all the material
1 facts necessary to enable the board Of hank
commissioners TO determine whether such bank
is lawfully entitled to commence the business
lof banking underline pruvsions of this act,
land such agent shall Immediately report to The
board Of bank commissioners such statement
land his proceedings in The premises.
/ SgcTIos 3. II, upon careful examination
lof tie certificates OF association, and the re-
lpor,s ana statements ofihe special agents ap-
/ lpom,ed 10 ascertain whether the bank SO ar
lganzed have complied with the provisions ol
This act, it shall appearthat any such banks
have been formed, and that their stockholders,
liireciors ard officers are men Of responsibility
landiniegtity, ard entitled topnbIic confidence,
and that such banks OF any Of them are law
lfifily entitled 10 commsnce the business oil
4 banking, tie commissioners shall certify The
same 10 the governor, who Shall, il he be sat.
u iSfied thattie law has in all respects been
lcompllet with, issue his proclamation, setting
! forth that suct banks are auth0fIzed 10 com,
lmepce aud carry on banking, nj the places
Iseyerally designated in their certificate OF as
y IsociatiGn. jss ~
! SECTION 0. No bank shall be Organized
under this act, as a branch of the bank oil
Ohio, in the county of Hamilton, with les.
capital than i've hundred thousand dollars
) which may be increased 10 any sum not ex
ceeding one million OF dollars. Nor Shall am
I independent bank be organized under this &c
} tin said county, with less capital than twt
:, hundred and,ffiy Thousand dollars which ma,
be increased 10 any sum not exceeding fiY,
hundred Thousand dollars; provided thatin NJ
case where the capital stock OF an independ
ent bankiS namedin this act, shall the certifi
Gates OF public debt required 10 be deposited
J by such banks with the Treasurer of Stale, b,
treated or regarded as any part OF such capita
, stock. ea
SEcrloS 10. No bank shall be estabshe,
; lunaer this act as branch OF the bank OF . hio
in the counties Of Cuyahoga, Montgomery
I IFranklinor Lucas, with a capital less thai
three hundred thousand dollars, Which may b
, Increased to any sum not exceeding six hun
died thousand dollars, nor shall any indepenl
Client bank be established in any OF said counties
with capital Of less than one bundled an
{ fifty thousand, dollsrs, which may be inctease
TO any sum not exceeding three hundred thou
I. sand dollars, va ave
!, SECTION | l. The capital stock Of each ban
J shall be divided into shares Of one hundre
6 ilolla's each, and shall be assig gDable on ,h
books ofthe compony. in snci manner as il
'hlll laws shall prescribe, but no shareholJe
siiail have. power to sci or transIer any share
HELL IN bus own right so long as be shall be Ii
able, eitheta as principal debtor, surely, or 9th
y fle1~ise, to the company, for anS deb. whic
!, shall be unpaid; nor IA such case shall sue
! Shareholder be entitled 10 receive any div
ldehd, interest OF profit on such shares, SO Ion
as such liabilities shall continue, but all sue
!, Idlyidends, INTERESTS or profits shdlfbe retaine
by lae bnnt ana applied 70 The discharge 9
such llsOlliles, anu no stocks shall be trans
y terfed without the consentoi majority of th
+ directors, willie the holder thereof is indebte
E to The company ss ~ 1ca
y SECTION ~. NO BANK shall take, as securit
lof any loan or clseohnt, lien or any part {
y us caplla STOCK, but lle same security bot
= In kind and amount, shall berequired Of share
u hoiaetS as OF persons not share andn
bank shall be the holder or purchaser OF an
U portion ol its ceplal stock, or Of the capita
8 stock OF nny other incorporated COMPANY, ur
less such purchase shall be necessary 10 pre-
4 vent loss upon adehi previously CONTACTED
7 good. ioitll, on security which al tbe time wa