Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1856-09-25

d shall il in any mode put in circulation the notes
e any bank or banking company which notes sh;
e not al that time be receivable at par in payment
# debts. BY The banks paying out or circulatir
!, such notes, nor shall il knowingly pay out or p
y in circulation any notes issued by any bank
' banking compsny which al the time of such payil
D. elt or putting in circulation is no. redeeming
J. notes IN gold and silver, nor any notes issued
}. any bank out of this state.
c Sec 29. All notes. bills, and other evidences
debt, excepting bills ofexchange, discounted by
n bank, shall be made by the terms thereof or
special Endorsement, payable solely to such hanl
Z and no such evidence of debt shall be assignabl
except for collection for the following purpose.
tirst--To pay and redeem tine circulating note
of such bank;
Srcond--To pay other liabilities of said bank ;an
after such liabilities shall have been discharg, d;
? Third-To divide among the shareholders OF
their stock
, Sec. 80. No bank organized under this act, shall
issue ally certificate of deposit, order, draft, bill
exchange, or other evidence of debt, payable il
currency or in anything less valuable than gold
silver coln, except receipts for special deposits; no
shall any such bank keep any accounts in currency
or in anything less valuable than gold and silvel
coin, except accounts of special deposits
Sec 81. No bank organized under this act
shall be permitted, in receiving payment at its
banking house or other place th1n where the same
was payable, OF any note, bill OF other evidence o:
debt, due to such bank. and payable place 9TH
er than at its banking house. to receive in addition
to the amount of such debt and the legal interest
Que thereon, any sum whatsoever as premium, ex-
change or damages: Provided Nothing in this
section continued shall prevent such bank from
ceivlng the damages allowed by law upon any bona
1de bill OF exchange, duly protested for non accep-
lance or non-payment.
Sec. 30. All transfers of notes, bonds, bills of
exchange, and other evidence of debt owing TO any
bank, or of deposits to its credit; all assignments
OF mortgages other securities on real estate, or
OF Judgments or DEGREES in its favor; all deposits
OF money bullion or other valuable thing for its
use, or for the use of any of its Stockholders or
creditors; all payments or money TO either, made
after the commission of an act of insolvency, or in
contemplation thereof, with view to prevent the
application o! its assets in the prescribed
by this act, with view to the preference o one
creditor TO another, except in payment OF its circu
iating notes. shall be held utterly null and void.
Sec. 33. If the directors of any banks organized
under this act, shall knowingly violate or know
ing ly permit any of the officers, agents servants
OF such bank 10 violate any Of the provisions of
this act, all the rights, privileges and franchises of
said bank shall thereby be forfeited; such VIOLA
tion SHALL however. be determined and adjudged
by court OF competent Jurisdiction agreeabiy TO
the laws OF this state and the practice of such
court before the corporation shall be declared dis
solved and in case OF such violation, every direct
who participated in the, or assented the same
hail be held liable in his personal and individual
| capacity tor all damages which the company, its
shareholders, or any other persons, body polite or
corporate, shall have sustained in consequence of
such violation
Sec. "a. Every president director, cashier, tel
lei, clerk agent of any bank, who shall embezze
extract, or willfully misapply any OF the moneys,
funds or credits OF such bank, shall without AT
thority from the directors, issue put in circula-
ton any OF the notes of such bank, OF shall, with
out such authority, issue put iortl any certificate
OF deposit, draw any order bill OF exchange,
make any acceptance, sign any note, bond, dratt,
bill OF exchange, mortgage, ]udgmen! or Sdecree, or
shall make any false entry any book, report or
statement of the ba k, with intent in either
case to injure defraud such bank, injure or
detraud any other company, body c, rporate or po-
litic or any individual person, or to deceive any
officer or agent appointed to inspect the affairs of
any bank In this state, shall be deemed guilty of
misdemeanor, and upon conviction thereof, shall
be confined in the penitentiary at Shard abor,
less than lve nor more than ten years.
Sec. 35. Stockholders in banks organized under
this act, shall each bo individually and severaIly
liable 10 the creditors of bank OF which they are
stockholders. in sum equal in amount TO the
stock owned by each and should any such bank
become insolvent and its assets be found insutfi
cient to pay its debts and Liabilities, its s0ckhoG
ers may be compelled to pay such deficiency, in
proportion to the amount OF stock owned by each,
and should the whole amount for which ssockhold-
ers individually responsible, provided this
section, be found in any to sbe inadequate to
the payment OF all the residue of The debts OF any
bank after the application of its to the pay
nent OF such debts, then. and In that case, the
moneys due from stockholders on account of their
individual liabilities such, shall be distributed
equally among all the creditors OF such bank in
proportion to the amount due to EACH tie person.
al liability in this section provided for, is over and
above the stock owned by stockholders, and ANY
amour; unpaid thereon.
Sec. Sc. The General Assembly may alter or
repeal this act at pl. asure but no iact altering or
repeating this act, shall impose any injustice or
wrong upon the stockholders of any bank .organiz
ed undar 1t.
Sec. 81. Every corporation organized under this
act, shall have power 10 make all necessary and
proper y-laws for the management and control OF
Its business and TO Tx .and regulate the rate of
charges flor making collections The Bank of
Ohio may revise the bylaws and may also revise !
the regulations OF the branches ernng charges
for making collections, and cause both to be smade
uniform among the branches, nearly so US
may be deemed expedient.
Sect 80. The corporations organized under this
act shall continue 10 exist long necessary for
the settlement OF their affairs notwithsa Eding the
repeal OF this act; and law shall ever be :passed
diverting appropriating the assets OF any such
corporation to any purpose other han to the pay
ment OF its debts und liabilities, and 1.-The distrbu
ion OF the residue among Its stockholders in pro-
portion to the stock by them severally owned.
IN RELATION TO THE BANK OF OHIO.
Sec. SO. Whenever, from an inspection of the
certificates transmitted by banks the board of
bank commissioners, it shall appear that any
made their election to their banking ope-
atonS as branches OF the Bank OF Ohio &huve com
piled with the requirements OF this act preliminary
TO the commencement OF banking operations, then
said commissioners shall Immediately notify each
OF said banks thereof and within ten days after
receiving such notice. they shall each appoint in
such manner the directors thereof shall prescribe
one person to be director OF the Bank of Ohio
But no person who Is not citizen OF the United
States, and resident of this state and who has
St "a tr n lpaS
previous 10 his appointment, shall be such director
Sec. 40. The directors OF the Bank of Ohio who
shall haze been appointed ..agreeaby TO the provi
slons OF the preceding section, SHALL from the time
oil its organization until the first day OF May, the
year one thousand eight hundred and seveniy-seven
and thereafter until the affairs OF the several
branches of the Bank OF Ohio shall be'fnaly closed
up, be body corporate, with succession, and by
the name OF the Bank of OHIO capable of contract
ing and oil prosecuting, and defending suits
tlons, as fully natural PERSONS aud OF doing all
other acts and things necessary to efec the obqct
ccnte mpaed in this act by the formation OF said
corporation. They shall meet in the city or Co.
lumbs nj such time as shall be designated by the
board ofhank commissioners, who shall give ten
days previous notice 10 each branch ot the time OF
such meeting; they shall each take an cath dill
gently faithfully and impariiay to perform the
duties imposed on them by this act; certificate OF
which oath shall be filed and preserved in the Of
flee OF the secretary OF state. They shall organize
provided two thirds of the whole number shall e
convened, by electing some suitable persoh pre-
sdent whose duty shall be to preside at the meet
ings OF the board, and sign its official documents
They shu elect IA vice president, whose duties
shall be prescribed by the bylaws of the corpora
| ton. They shall appoint n secretary, who shall
keep fair and true record of the proceedings of
the bank. They shall keep an Office in the city
Columbus, which, together wi ith their books spapers
records & accounts OF every description, shall al. ali
times be open to the inspection Of any committee
OF the General Assembly, or either branch thereof
and OF any commission or commissioners especial
ly appointed for that purpose by the General AS
sembly, and of any person appointed by any one ot
the branches. They shall procure and furnish each
branch with notes for circulation, and decide on
the amount to be furnished from time to time to
each, within the limits and agreeably to the rules
and restrictions prescribed by this act. They may
prescribe rules for the settlement of balances be-
tween the branches. They shall have power by
themselves, or by a committee OF one or more mem
bers of their own body, or by "a special agent ap
pointed by them for that purpose, whenever and as
often us they shall think proper. 10 visit any
branch, inspect its books, records and accounts. .and
A. 1f IoIt sd Hold