Eaton Democrat. [volume] (Eaton, Ohio) 1843-1856, 1856-05-15
LAWS OF OHIO!
PUBLlsHED BY AUTHORITY.
ANACT

4. 7 fa
SEcTox I. De IL enacted Jss the General As-
sriabts 6f NE Siate Of Ohio. That il shall be
ilawfulfor natural raiindividuaipetons, not Fever
iin number 10 any case than ave, 10 associate
and form companies Tot The purpose Of carrying
on the business OF banking, each al such place
siif this Slafe shalfbe designated in its article
pf association, and in the cer.ifca:e hereafter
acquired 70 be ,made, subject, however, TO the
contingencies. restrictions. conditions, and lia.
biiiiies prescribed III This act. "A. S
SEoTIUN Q. To carry into effect the pro-
visions Of his act, Wm.W Scafborough, OF
Cincinnati, FrsnkIin T. Backus, 0f Cleye.
land, Clfauncy N. 0ids, Of irclevile, J.. r.
Fnn. Of Coiunhus, aal Samuel Forter, Of
Dayton, shol be, aud they ere hereby appoin-
Ted commissioners, and They, or a majority OF
them, Bter taking an oath diligenuy. laiihluIly
and dmpariiallyio prrrhm Ee duties assigned
jllemby This act,a certificate OF which oath
shall be fle,l ana carefully preserved in the
Office Of the Secretary OF State, shall constitute
bonrd, 10 te dtsjgnaied lhe board Of bank
commissioners; which BOARD shall continue un
III The oresnzalion OF The Bank Of Ohio, as
hereinafter ptpyided for, and thereslterthe dri-
ties which they arr required 20 perform by this
act, 10 The ufgalrizaiiolig Of branches Of The
Bank Ohio, Shall performed By said bank,
aud the duties 10. ilIe organization OF indepen.
deni balks which they are required by his
ACT 10 perform, shall devOlye on and be per.
formed by llIe Auditor, Treasurer, and SecIe-
iary Of State, who shall be commiss ouers to
perform such duties, ard il any Of said com
rilssionefs shall rsluse 10 Serve shall die or re-
sign. his place Shall be filled hy The general
Assembly, by joint resolution, II in session,
and il not, hy the Governor. st ~,
SEcIIoN B. Said commissioners shall meet
in The ciiy Of Columbus, at such time, within
lhity days afletiie second Tuesday OF 0clo-
btrnexi, as shall be appointed by The governor,
who shall notify each member OF bis appoiDt-
inent, aud OF the time and place OF meeting;
they shail,swhen met, appoint one Of their
number 10 be their president, who shall, 'nnl
der the order ol the hoard, sign al ofieiai tioc
YIntnls; aud they shall cause o fair and true
record Of sh their official proceedings 10 be
kept in book 10 .,c provided for that purpose.
SEorIoS A. Persons associafing 10 form Q
bank shall, urder their bands and seals, make
0 Certificate, which shall specify. 8fFf aFgf
FIsl-lhe name assumed by snch bank
ar,.b, which il shall Le knowrin its dealings
IN whivii name shall be included lie name o.
HE city. yiliase oriown in which ns banking
Operations shail'bp cafiie, OH; g ~
Secohl-- 1sIle amount OF The capital Siock o
such bank, and The number OF shares init
&hicil Tie snrpe isdiyidedS
Third Tie name aud pIace Of residenct
and the nnmber Of slates lie III BY each meInbe
oftbe conRany;
Foutlll- The lime when such company shal
bare beeh formed;
Fhth--Tiai such company has elected 4
carry or its operations ns an independent
bank, or, as o abranch Of the Bank Of Ohio
as the cnse may be, whicb certificate shall q
acknowledged before justice OF The peace o
notary public, and shall be recorded by the re
corcef of9the county where such bank is TO b
established, n book TO be kept by him fe
that 2niI,ose, y hch shall at all times durinl
Office hcuSs be kept open for the inspection Q
ANY rersea Wishing 10 examine the same; on
copy Of which certificate, duly, certified, shal
be transmitted 10 the Secretary OF Slaie, who
sllaillrecofd aud carefully preserve tile same il
bis Office, aDd anotietlo The board Of bank
commissioners.
SgcTiJH5. No company Shall be permitte,
10 commence or cairy on the business OF bank
ing under this act, os d branch Of Tue bank o
Ohio, unless lis capital stock shall be at eas
one hundred thousand dollars, nor shall th,
capital stock Of any such branch ever be in
creased 10 exceed four hundred thousand dol
lars, except as specialiy nroyided for IN thi
act. No independent bank shall be organize,
undertbis art with aiIess capital than ff,,
thousand dollars; nor shall the capital stool
OF any Sucii bank ever be increased 10 an
sum exceeding two bundled thousand doliaFs
except as Especially provided for in this ACT. A
least fiily per cent OF lie capital stock OF eaci
conlpany shall be maid in eold and silver coin
or tlieir eouiyaleui;one half OF which fifty ne
cent Of lesst shall Be in gold;anl silver coin
and shall be il, the actual posseSsion ond bon
fde the ptoperiy of the comDany at the Inn
of tbe commencement of lis banking business
and al The mace Jesisnaled for carrying, o.
such business. ana {be remainder or The capi
ialsstock 8! such bank shail be paid in, in In
.slallments. each of Al least len ,,er cent o.
the wlloIe 'amo,nt of lie caniial subscribed. 4
ireooenilv asonce IN every four suceessly,
months. from ne li,nr q commencing bushes
uUtifgLe Whole amount of such capiisl shal
be paid IN. Provided. tha, the directors or III
bank Of Ohio NAV extend the iirneIor the pay
n1ea: Of sl,ct, deferred ins,ollnents or any por
of them. "a he branch hanks, wbet, satisiie
fbattbe public interest does not feouife thel
N be mid AZ freouen,ly as above nioyIded foI
and t6e Governor nav rrant ia the independe1
hanks tbe IKE eyiensIon for ihe same cause
sxtr ~ AZ m anv sAarehoJet Or his as
k;snee ,ball fa;i ~ nav any insiallm.r1t an hi
s,ocf wien he ss,as. a., sbai, i'd reo,,i,pl 10 b
paid, 1he directors NAV seil, said Sock al pub