The weekly Portage sentinel. [volume] (Ravenna, Ohio) 1854-1861, 1856-05-29
Law S OF OHIO.
! PUBLISHED BY AUTHORITY.
[No. II4l AN ACT,
To incorporate the Bank Of Ohio and othel
Banks.
TcoNcLUpED.1

|
| SECTION 30. All notes, bills and othe
evidences of debt. excepting bills {
exhange, discounted by any bsnk-sha
be made by the terms thereof, or b
special indorsement, payable solely to sue
bank, and no such evidence of debt sha
be assignable except for collection or ia
the following purposes.
First--To pay and redeem the circuIat;n
hotes OF such bank; Isg
Secnnd-To pay other liabilities of tn
said bank, and after such liabilities sbal
have been discharged;
Thrd-To divide among the shareholder
on their stock. ...
SECTION 81 No bank organized unde
this act, shall issue any certificate of depos
it, order, draft, bill Of exchange, or other ev
idence of debt, payable in currency or in any
thing less valuable than gold and silve
coin, except receipts for special depos
ii; nor shall any such bank keep any &C
counts in currency or in anything less valu
able than GOLD and silver cuin, except az
counts Of special deposits.
SECTION 81. No bank organized unde,
this act, shall be permitted, in receiving
payment at its banking house or other place
than where the same was payable, of any
note, bill, or evidence of debt payable at 4
place other than its banking house, to re.
ceive in addition to the amount of such deb,
and the legal interest dre thereon, any sum
whatsoever as premium, exchange or dam
ages; provided, nothing in this section con.
tained shall prevent such bank from receiy.
ing the damages allowed by law upon any
bona fide bill of exchange, duly protested
Tor non-exceptunce or non. payment. %
SECTION 80. All transfers OF notes, bonds.
bills of exchange and other evidence of debt
owing to any bank, or of deposits to its cred.
it; all assignments Of mortgages or other Sc.
curites on real estate, or of judgements or
DEGREES in its favor; all deposits of money.
bullion or other valuable thing for its use, or
for the use ofany Of its stockholders or credit
ors; all payments of money to either. made
alter the commission of an act OF insolvency.
or in contemplation thereof. with a view to
prevent the application of its assets in the
manner prescribed by this act. or with view
to the preference Of one creditor to another,
except IN payment its circulating notes, shall
be held utterly null and void.
SECTION SO. II the directors of any bank
under this act, shall knowingly vi
olate or knowingly permit any of the officers,
agents or servants OF such bank to voIate any
of the provisions of this act, all the rights,
privileges and franchises of said bank
shall thereby be forfeited; such violation
shall, however, be determined and adiudged
by court of competent jurisdiction, agree.
ably to the laws of this State and the prac.
tlce OF such court, before the corporations
shall be declared dissolved; and in case OF
such violation, every director who partpa-
led in, or assented tesihe same, shall be held
liable in his personal and individual capacity
or all damages which the company, its
'hareho lders or any other PERSONS body po-
iic or corporate, shall have sustained in
Of such violation.
SECTION "a. Every president, director
'ashier, teller, clerk or agent of any bank
Who shall embezzle, extract, or wiIfulIy mis-
pp'y any of the moneys. funds or credits of
uch bank, or shall, without authority from
he directors, issue or put in circulation any
I the notes ofsueh bank, or shall, without
uch authority, issue or put forh any crrtii-
hange, make any acceptance, sign any note, s
ond, draft, bill of EXCHANGE, mortgage,
'dgemfnt or decree, or snail make any false :
ntry ON any book. report or statement Of
'e bank, with an intent in @ither case to .
liure or defraud such banks, Or to iniure or ;
afrsud any other company body corporate !
r politic,or any individual person, or to de h
'ive any officer or agent appointed IT, in.
,ect the affairs Of any bank In this State,
,sl be deemed guilty. of misnemeanor, 4
nd upon conviction thereof, shall be con
ned in the penitentiary at hard labor, not ,
SIS than five nor more than ten years. r.
SECTION 35. Stockholders in banks or .
'nized under this act, shall each be indi Z
dualy and severally liable tothe credit. -
IS OF a bank of which they are stockhold. :,
$, in sum equal in amount to the stock /
rned BY each, and should any such bank -
.come insolvent, and its assets be found r
sufficient to pay its debts and liabilities, l.
stockholders may be compelled to pay !,
Oh deficiency, in proportion to the amount "
stock owned by each, and should the >,
hole amount for which stockholders are =
responsible. as provided in this ~
ction, be found in any case to be made :" :"
ate to the payment Of all the residue of =
debts of any bank, after the application !,
its assets to the payment of such debts, II, y
en-, and in that case. the moneys due from ~ ~
'ckhotders on account of their individual -
bilities as such shall. l.be'dstributed equal 80
among a II the creditors of such bank, in y
Dportion to the amount due to each, the "
rsonal liability In this section provided ~
;, is over and above the stock owned by p'
'ckholders, and any amount unpaid there a. a.
SECTION So. The General assembly may 10 10
er or repeal this act at pleasure, but no - =,
altering or repeating this acr, shall i'm. ~ ~
se any injustice or wrong upon the stock ~
ders of any bank organized under 1t. &c
SECTION 81. Every corporation organ. sn
under this act, shall have power to 81
Ike all necessary and proper by-laws for po
management and control of it's business
to fix and regulate the rate of charges or
making collections. The bank of Ohio !oe
y revise the bylaws and may also revise lss M
regulations Of the branches concerning cu
rges for making collections, and cause tn
h to be made uniform AMONG the branch 81 ~
or az nearly SO a. may be deemed expe. so s
nt oy
SECTION SO. The corporations organi. ar'
under this act shall continue to exist so oe
as necessary for the settlement OF their .de
lrs' notwithstanding the repeal OF this 90
and no law shall ever be passed divert. ma
or aPproprlating the assets of any such shs
'oration 70 any purpose other than 10 the dei
ment ofits debts and Liabilities, aud The OH
ribution of the residue. among it's stock. abl
Iers IN proportion to the stock by them pa,
rally owned.