The Cadiz Democratic sentinel. [volume] (Cadiz, Ohio) 1854-1864, 1856-05-07

fofS ets FpOAilS OF tfsohrI BADtob " v"
Er salasAle thing 70. iis use. or fer be p
use Of any OF its stockholders az erediEoEa:
all payments Of money to eiihef. tas'S': sf-
ies the essaasissioa Of Al ass Of iasolvsss- &
oy. ~. 10 eoese!syiatiOn tatfJi. With -
view to preventive aRplicatt'n Of its ss'
sets IN the HahAeE prescribed Is This a9t'
or siih view TO The pFeiereucs OF one
creditor to another. Except IN payment o.
its circulating uoIes. shall Be held utterly
nHli and void. r so
SEC7ToS 50. II the directors Of any =
banks organized uudes this act, shall
knowingly violate or knowingly peEmiE
sny Of the officers, sgepts or servants Of
Buch bank 10 violate az Of the provisio1s
OF thir act. ell the sights, privileges aud
franchises Ct said bsak shall thereby be
forfeited such violation shall. hoWeves.
be determined and sdjadged by court 0f
competent jurisdiction, sgreesbly to tIfs Z
laws OF this State and the practice Of such
court, befofs the corporation shall be de.
ciarsd dissolved; and in case OF such vio-
lstion. every director who participated ID.
or assented to the same shall be held La
bic Ia lsis pefscnal aud iadiyidpKl cApas.
ity for sil damages which the company. its
shareholders. or any other persons body
corporate or corporate shail hsye sus-
tktned IN consequence Of such violation.
SEcEos 50. Every president. director.
cashier, teller. clerk VI AgeLt ef any bsuk
~bo shall embcEEle, extract, or wilfully
msappfy sny Of the moneys funds Of
credits Of such bank or shall, without aus
thority from the directors. issue or pat ie
circulation any OF the no.es Of such bank.
or shall, without such Authority. issae or
put forth any certiscste Of deposit. draw
aayorder or bill Of exchaage. make any
acceptance, siga scy note. bond, araia.
bill Ofexchsugs, mortgage. Judgment Or
decree. or shall make ans false entry en
any book. report or statement Of the haEk
with en intent in either case 10 injare %
defraud such bank, or 10 ininre or dsfrand
any other company. body corporate cs
polite. or any individVai person or to do.
ceive any oficer or agent appointed to Ia.
spect the sffaira of sAay bank in this States
shall hs deeRed guilty Of q misdemeanoF.
and upon conviction thereof, shall be
confined in the pcni,entisry at hard la
hor. not less than Eve noE more Aaa tea
years.
SEcTEoN So Stockholders ia banks ~
gsDis I'd undes The act. shall each be in1-
viduslly "nd seNtTsiiy liable TO she credi.
tors of bank Of which they are stockhold-
ers 10 a sum equal in amount to tho stock
owned by each and shoUld any such bank
become insolyent, and it's assets be found
insufficient, to pay its debts and hsbilitiss
its Stockholders may be compelled TO pay
such deficiency, In pTeper,iea to the A.
mount of stock owned By each, and should
the whole amount for which stockholders
are individually responsible. as protided
in this section, be found in amp case to bn
inadequate to the payment Of all the resi-,
due Of the debts Of any hauk after tie
application ofitu RssEts 10 the payment :
OF such debts, then, and in that case. the
moneys due lroH1 stockholders On sseepns
Of their individual liabilities Rs such shs,l
he distributed equally among all ,be cred.
itoTs ofsach 5sak, In proportion 10 the a.
mount to each. the personal liability ia
this section prcsidcd lort Is over and Al
bose the stock owned By stockholders. eta
any amount unpaid thereon. n
EEcrruR S. The General Assembiw
may alter or ropsai this act at pleasure.
but no act altering or repeating this aes.
shall impose any iniuetiee or wrong op-l
on the stockholders rfAny bank organised
under il. =
Section 81. Every corporation organ.
izsd under this act. shall have power 10
make oil necessary and proper by-laKa
for the management and control OF iie
business and TO tx and regaiate tie rate
Of charges for making collectioas. The
bank of Chic may reviae the bSe iaws
and may also revise the regulations OF .hs
branches concerning charges for making
collections. and cause beth TO be made "
rform among the branches. or as nearly -
as may be deemed expedient.
Section SO. The corporations or organ.
ICED under this act shah coatinss'to exisa
SO long ss necessary for the settlement oI
their affairs. no.~i outstanding the repeal
OF this act; and no law sbsli ever be paases
| diverting or apprnpristing the Assets c!
any such corporaiios to any purpose ether
| than to the payment Of lite debts and la
| biIii,ips. and the distributions Of the Fesi.
due among its stockholders In properties
4 to the stock by them severally owned.
IN RELATION TO the Rank OF oato. L,
Section 90. Whenever. from "a n
speetion OF The certificates transmitted Ly
banks to The board Of bank commission
ers, il shall appear that any huinber o
| said banks, not less than Eve, hare mad,
; their election 10 transacl their hankinl
operations as branches Of the bank o
Ohio. and have complied with tbe feQuif
ements Of this acs preliminary 10 The con-
mencenaent Of banking operations. tbs
: said commissioners shall Immediately pol
ify each Of said banks thereof Aad wiihii
: len days aitsf feseiyibg snch notice theJ
shall each appoint in such manner % III
directors thereof shall prescribe, one. peg
1 son to be director of the bank Of Ohio
pl But DO person whois rot = citiSeu Of ID.
III United States. ana Yesidsat Of Tits Etat
+ and who has not resided within this Hssi,
|. at least one year next previous to bis sp
4 poin,men. shall bo such director 3a''
Section %. The direstora oflhe har,
: Of Ohio wto shah have been appointes
II sgseeably TO the provisieps Of tho pFeced
!, ing section, shall. from ths tiEas fits ~
gauiss.ien until ihs first day oi Msy, y
the year ons ih0vsahd eight hundred AaI
seventy seven. and iheresftsr until Ill
affairs Of the several branches Of the ha0l
|. or Ohio shall be inaIiy closed up. 10
\ body cosYMats. with successinn. and b
chs nan,s os shs bank OF Ohio. sapsbse I
eensrac.ing aud of prosecuting, and ds
: lending suits cT actions. e. faily e nAtui