The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1856-03-21
A BILL.
To be entitled IAN Aet to regulate Banking
Re ~ ~ n. Il

To be entitled AN Act 10 regulate Banking. "
Section l. Be Il enacted by the General As.
senbly of the State of Tennessee, That from
and after the passage of this act it shall be
the duty of each and every bank in this State
to make a semi-annual return to the Governor
Of the State on the first Monday in July and
January Of each year Of the names of all its
stock holders, the amount of stock owned by
each Individual or company, the amount Of
money actually paid into the funds of each
bank on each share respectively and the
amount of the discounts of each bank. And
each bank shall include in its semi annual
return such other statements MS are required
of the Free banks by the eleventh section of
the net of 1852, chapter 10, entitled "an act
to authorize and regulate the business of
banking, passed the 18th of February, 1852,
which return shall be verified by the affidavit
of the President and Cashier of the bank.
See. 2. Be ii further enacted, That it shall
be the duty of each and every branch bank in
this State to make out and forward TO the
Governor return as required in the forego.
ing Section separate aud distinct from the
return of the Mother bank, which return shall
be verified by the affidavit of the President
and Cashier of the branch bank, and the Gov
ernor shall cause the returns required In this
and the foregoing sections to be published as
is required Of the Comptroller by the provis-
ions of the twelfth section of said Act of
1852, chapter ll3.
Sec. 8. Be it further endced, That from and
after the first day of September next no bank
or branch bank within thisSa shall issue.
emit, pay out, pass or circuhte any bank note
or bill of less denomination than five dol.
lars, except bills or notes of the Bank of
Tennessee; provided, that nsthing herein con.
tanned shall be so construedas to make il un-
Lawful for any bank or branch bank to pre-
sent for payment or in any other mode trans.
nit for redemption to any bank of this or any
other State any bill or billstof such bank Of
the denomination aforesaid, remaining in cir.
culation after the time aforesaid with the
view and in the mode to stop the future cir.
culatioD thereof
Sec. A. BE ii further enacted, That each and
every issuing, passing, paying away or circu.
latng of each and every bank bill or note of
less denomination than five dollars, excep;
bills or notes of the Bank of Tennessee shall
constitute a new, separate and distinct offence.
Sec. 5. BE ii further enacted, That the cir.
culation of no bank or branch bank shall
within any six months computing from the
first OF January to the first Of July, and from
the first OF July to the first of January exceed
its discounts more than two thousand dollars.
Sec; 6. BE II further enacted, That each and
every bank Or branch bank, which may be
guilty of a violation of any of the provisions
OF this Act shall be subject to presentment or
indictment for every such offence in the Cir
cult Court of the county in which such of
tending bank or branch is located; and upon
conviction shall be punished by fine of not
less than five hundred nor more than two
thousand dollars.
Sec z. Be IL further enacted, That none of
the provisions of this act shall be applicable
to the Bank of Tennessee or its branches.