The Cadiz Democratic sentinel. [volume] (Cadiz, Ohio) 1854-1864, 1856-05-07
LAWS OF aUEEO. 2
PuBLIsnED nY AUTHORITY.
mo. nal AN ACT
To 'insote5rsts the Bank Of Chic and
a. " Other BABks. sd a.al sie b. d

% tnSOfPoIbt 'pe OanA W SSiS S"S
al, other BkBhs. ed a.a. fle b.
=, Section 1. Be il snsc.eaSy ths Gener |
81 Assembly Of the State Of Ohio, That
il shall be lsRful for natural Individual
persons, not fewer in number in any case
than fiye,. to associsle and form companies !
for the purpose Of carrying on The bpsi' |
ness Of banking, each at such place in
this State as shall be designated in It's ar
ticles Of association, aud 10 the certificate
hereafter required to be made, subject.
8 however. to the contingencies, restric'
lions. conditions, and liabilities prsseTlo.
ed ia this act. f.r-as, e.s ..f IA ys.f
Section 2. To carry into effect the
provisions Of this act, VIM. w. Scarbo-
rough, of Cincinnati, FrenklinsT. Backus.
Of Cleveland. Chsuncey n. olds. OF CIR,
cleyIIe, j, R. Finn of, Columbus and
Samuel Forrer, Of Dayton, shall be, and
they are hereby appointed commissioners,
and they. or a majority OF them, after
taking an oath diligently, faithfully and
imparlislly to perform the du.ies assigned
them by this act. q certificate OF which
cath shaII be filed and carefully preserv-
ed in the Office OF the Secretary of State.
.ahall constitute board, to be designated
the board of bank commissioners; which
board shall continue until the organize
ton of The Bank Of Ohio, as hereinafter
provided for, and thereafter the duties
which e,ey are required TO perform ey
stsis act. in the organization OF Branches
loi the Bsnk of Ohio. shall be performed
by said hauk, aad the duties in the or
ganis .lioR ,G intiependenI banks which
they are required by shis act to perform
shall devolve on and be performed by the
Auditor, Treasurer and Secretary Of State.
who shall be cemn,iseioatgs to perform
ssol daliss, and iftsay Of said eoFatais'
sinners shall refuse to serve. shah die or
resign, his place shall be Giled By the
General Assembly. BY joint FssoioIion. If
in session, IL not. by the gU7ernor. sasl
VI Section 5. Sda commissioners shall
meet. in the city Of Columbus, OF such
time, witstiu 'thirty days alter the seesud
Tuesday of]0ctober next. as shah be ap'
pointed by the governor. who shall nol'iy
each member OF his appointment. and OF
| the time and place Of fnteting: they shall,
when met, appoiat one OF their number 10
BE- thrir president, who shall. under the
order 81 the board, sign all official docu'
ments: and they shall cause 81 fair and
true record of all thr ofIici1! proceedings
to be kept in book to be provided tor
that purpose s~f
S.clion i. Persons h Ssociatirg to form
bank Shall under their hends and seals,
make certificate, which shall specify,
Flrst-The name assumed by zach
bank. and by which it shall be known in
/ its dealings, in which na me shall be inclu.
/ ded The name Of the oilg. @ilage or town
in wh"h its banking operations shall be
carried on;
second The amount Of the capital
stock oi such haak. and the nulHbrr u
shares ta,s. which the same is divided;
rlifrd--- The name and place OF resi-
dcnce ani tho NUMBER ot shares held by
each member OF the company;
Fourth 1.-The time when such compa
NJ Shalt have been formed;
Filth That such company has elected
to c.rry on It's operations as an indepcn
| drnt bank. or. rs branch OF The banl
Of Ohio rs the case may be. which Ger
tifcate shall be acknowledged before 8
Justice OF the peace CT notary pubic, anC
1 shall be recorded by the recorder oil lht
county where such bank is to be esIab
| Ti,hed, in book 10 be kept by him fol
that purpose, which shalt al All tines dur
ing Office hours be kept open for The in
sprcsion Of any person wishing TO exam
ire the same; one copy OF which certificate
| duly certified. shall be transmitted to th'
Secretary a S,ats, who shall record anC
carefully preserve the same 10 bis office
and ssselher to the board OF bank cum
mi>sioners.
Section S. No company shall be per
mit,ed to commence or carry on the baSi
ness OF banking under this act. as bTsncl
Of the bank Of Ohio, unless its capita
| steck shall, be al least one hundged thou
sand dollars. nor shall the caoltaI stocl
OF any such branch ever be ,acrtssed u
1 exceed four bandred Thousand dollsrs
except a. speeidly provided for in thi
| act. No independents bank shall be OF
gauised under this act with, h4sas capita
4 than City thousand dollars; nor shall III
capital stock OF any such bank ever be in
creased to any sum exceeding two hun
a dred thousand dollars, except as speciaii
provided for in this act. Al 1east ut
Der cent Of the capital stock OF each com
i pany shall be pad in gold and silver cor
!. or their equivalent; one halt OF which d
: " per cent at least shall be in gold an
! silver coin and shall be 10 the actual pos
. session and boaa 6le The property OF th
compaBy at the time of die commences
: ment Of It's banking business, and az III
Il place designated tor carrying on sdcht tbr
:, ,iness and The remainder Of the capi,'
! stock Of such bank shall be paid 10,
d I inslalt8ents, each of at least ten per cen
Y on the whole amount Of the capital sui
scribed, ss frequently as once 10 ever
!. four successive months. from the time
commencing business until the Who
Il aHauunt Of such capital shall be paid "
II Provided, that the directors Of the bar
Of Ohio may extend the time for the pa,
IA ment Of such deferred instalments, or an
a. part.ef them. 10 the branch banks. wbt
satisfied that the public interest does n
:. require them 70 be paid as irequently
Y above provided for. and the governor m
:, grant TO the iadsps0dent banks the Ii
extension toFthe same cause. .sz,
- Section 9 II any slaEsholdsr or
7, assignee shall fell 10 .psJ ahy instslme
!, On bis stock when the same shall be /
". ouirsd to b. paid, the directors may u
"a said stock at public suction, having Civ
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