The Tiffin tribune. [volume] (Tiffin, Ohio) 1848-1859, 1856-05-09
LAWS OF OHIO.
PUBLISHED BY AUTHORITY.
AN ACT
To incorporate the Tank Of Ohio and

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other Banks.
Section 1. Be Il enacted by the Gen
eral assembly Of tle StOfe Of Ohio, that
il shall be lawful for natural individual
persons, not fewer ia number in any ease
than five, to associate and form compa-
nies for the purpose Of carrying on the
business Of banking. each at such place in
this State as shall be designated in It's ar
ticles OF association. anl in the certificate
hereafter required to be made, subject how
ever, to the contingencies, restrictions.
conditions, and Ii, giites prescribed in
this act.
Section 2. To carry into effect the pro-
visions Of this act, VIM. w. Scarbor-
ough, Of Cinoinati, Franklin T. Backus,
OF Cleveland, Chtuncey N. Olds, Of Cir
cleville, j. r. Finn, Of Columbus. aud
Samuel Forrer, Of Dayton shall be, and
they are hereby appointed commissioners,
and they, or a majority ofthem, after ta-
king an oath diligently, faithfully and
impartially to perform the duties assign l,l
them by this act. certificate Of which
oath shall be fled and carefully preserved
in the office OF the Secretary Of State, shall
constitute a board. to be designated the
board of bank commissioners; which
board shall continue until the organiza-
ton Of the Bank of Ohio, as hereinafter
provlded for, and thereafter the duties
which they are required to perform by
this act, in the organization of branches
Of the Bank Of Ohio, shall be performed
by said bank. and tho duties in the or
ganization of independent banks which
they are required by this act to perform.
shall devolve on and b. performed by the
Auditor, Treasurer. aud Secretary, of
State, who shall be commissioners to per-
form such duties, and if any ofsaid COM
missiouers shall refuse to serve, shall die
or resign, his place shall be filled by the
general Assembly, 10y yjoint resolution, if
in session, and if not by the governor.
Section 3. Said commissioners shall
meet in the city Of Columbus, at such time
within thirty days after the second Tues
day of October next, as shall be appoint
ell by the governor, who shall notify each
member OF his appointment, anil of the
time and place Of meeting; they shall,
when met, appoint one Of their number to
be their president, who shall, under the
order of the board. sign all official doc
uments; and they shall cause fair and
true record Of all their official proceedings
to be kept in book TO be provided for
that purpose.
Section 4. Persons associating to form
a bank shall, under their hands and seals,
make certificate, which Shall specify,
First--The name assumed by such
bank, and by which it shall be known in
its dealings, in which name shall be in
cluded the name of the city, village or
town in which its banking Operations
shall be carried on;
Second-The amount Of the capital
stock Of such bank, and the number Of
shares into which the same is divided;
Third The name and place Of resi-
dence and the number Of shares held by
each member Of the company;
Fourth-'rhe time when such compa.
ny shall have been formed;
FiGth-That such company has elected
to carry on its operations a4 an indepen-
lent bank, or. as "branch of the Bank
of Ohio" +" as the case may be. which cer-
tifcate shall be acknowledged before a
justice ofthe peace or notary public. AMI
shall be recorded by the recorder of the
county where such bank is to be estab-
liShe,l, in book TO be kept by him for
that purpose, which shall at all times
during office hours be kept open for the
inspection of any person wishing to ex-
anime the same; one copy of which GER
tiicate, duly certified, shall be transmit
tedtO the Secretary Of State, who shall
record aud carefully preserve the same in
his Office, and another to the board OF
bank commissioners,
SECTION 8. No company shall be per-
mitted to commence or carry on the busi-
ness of banking under this act, as a
branch Of the bank Of Ohio, unless its
capital stock shall be at least one hun
dred thousand dollars, nor shall the cap.
ital stock Of any such branch ever be in
creased to exceed four hundred thousand
dollars, except as specially provided for
in this act No independent bank shall
be organized with less capital than 6f.
thousand dollars; nor shall the capital
stock Of any suck hank ever be increased
to any sum exceeding two hundred thou
sand dollars. except especially provided
for in this act. AT least fifty per cent Of
the capitil stock OF each company shall
be paiIin gold and silver coin, or their
equivalent; one half of which fifty per
cent at least shall be in gold and silver
coin, and shall be in the actual posses
sion and bona file the property of tho
company at the time of the commenc-
ment Of its banking business. and at the
place designatel for carrying on such
business, AMI the remainder Of the capt.
tai stock Of snch bank shall be paid in.
in installments. each Of at least ten per
cent on the whole amount of the capital
subscribed, as frequently as once in every
fonr successive months, from the tune Of
commencing business until tho whole g.
mahnt Of such capital shall be paid mp
Provided, that the directors Of the bank
Of Ohio may extend the time for the
payment ofsach deferred installnents,
or any part of them, TO the branch banks,
when satisfied that the pablo interest
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