The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1856-03-21
A RII,I,

To be entitled "An Act 10 regulate Banking"
Section l. BE il enacted By the General As.
sembly Of The State Of Tennessee, That from
and after the passage Of this act il shall be
the duty of each and every bank in this State
to make semi.nnnual return TO the Governor
Of the State on the first Monday in July and
January OF each year of the names of all il.
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 rs are required
of the Free banks by the eleventh section of
the act of 1852, chapter 1l3, entitled ian 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.
Sec. 2. BE il further enacted, That it shall
be the duty of each and every branch bank in
this State to make out ani forward 10 the
Governor return as required in the iorego.
ing Section separate and 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
aud 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. 3. BE il further enacted, That from and
after the first day of September next no bank
or branch bank within this State shall issue,
emit, pay out, pass or circulate any bank note
or bill of less denomination than five dol.
lars, except bills or notes of the Bank Of
Tennessee; provided, that nothing herein con.
taned shall be so construed as to make it 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 nny
other State any bill or bills of such bank OF
the denomination aforesaid, remaining in cir
cuation after the time aforesaid with the
view and in the mode to stop the future cir.
culation thereof.
Sec. a. BE il further enacted, That each and
every issuing, passing, paying away OF circu.
lating of each and every bank bill or note al
u less denomination titan five dollars, excep
bills or notes of the Bank of Tennessee, shal
constitute new, separate and distinct offence
Sec. 5. BE ii further enacted, That the cir
| culation Of no bank or branch bank shal
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 anC
every bank or branch bank, which may b,
guilty of n violation of any of the provisions
of this Act shall be subjectto presentmcnt o
indictment for every such offence in the Cir
cult Court of the county in which such of
Tending bank or branch is located; and upol
conviction shall be punished by fine of no
less than five hundred nor moro than tw,
thousand dollars.
Sec. 7. BE ii further enacted, That none o
the provisions of this act shall be appicabi
to the Bank of Tennessee or its branches.