The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1856-07-02

or in contemplation thereof, with a view
to prevent the application of it's assets in
the manner prescribed by this act, or with
q view to the preference of one creditor
to another, except in payment of its cir
culating notes, shall be held utterly null
and void.
SECTION 33. If the directors of any
banks organized under this act, shall
knowingly violate or knowingly permit
any of the officers, agents or servants of
such bank to violate any of the provisions
of this act, all the rights, privileges and
franchises of said bank shall thereby be
forfeited; such violation shall, however, be
determined and adjudged by a court of
competent jurisdiction, agreeably to the
laws of this State and the practice of such
court, before the corporation shall be de-
clared dissolved; and in case of such vio-
%lation, every director who participated in,
or assented to the same, shall be held liable
in his personal and individual capacity for
all damages which the company, its share
Holders, or any other persons, body corpo-
rate or corporate, shall have sustained in
consequence of such violation.
SECTION 81. Every president, direc-
tor, cashier, teller, clerk or agent of any
bank, who shall embezzle, extract, or will
fully m%isappiy any of the moneys, funds
or credits of such bank, or shall, without
authority from the directors, issue or put
in circulation any of the notes Of such
bank, or shall, without such authority,
issue or put forth any certificate of deposit,
draw any order or bill of exchange, make
any acceptance, sign any note, bond, draft,
bill of exchange, mortgage, Judgment or
decree, or shall make any false entry on
any book, report or statement of the bank,
with an intent in either case to injure or
defraud such bank, or to injure or defraud
any other company, body corporate Or
polite, or any individual person, or to de-
%ceiye any officer or agent appointed to in
speet the affairs of any bank in this State.
shall be deemed guilty Of a misdemeanor,
aud upon conviction thereof, shall be con-
fined in the penitentiary at hard labor, not
less than five nor more han ten years.
SECTION 80. Stockholders in banks or
gained under this act, shall each be individ-
ually and severally liable to the creditors
of a bank of which they are stockholders,
in a sum equal in amount to the stock
owned by each, and should any such bank
become insolvant, and its assets be found
insufficient to pay its debts and liabilities,
its stockholders may be compelled to pay
such deficiency, in proportion to the amount
of stock owned by each, and should the
whole amount for which stockholders
are individually responsible, as provided
in this section, be found in any case to be
inadequate to the payment of such debts
of any bank after the application of its as
sets to payment of such debts, then, and
in that case, the money due from stock
holders on account of their individual La
bilities as such, shall be distributed equal
y among all the creditors of such bank,
in proportion to the amount due to each,
the personalliability in this section pro-
yided for, is over and above the stock own
ed by stockholders, and any amount paid
thereon.
SECTION SO. The general Assembly
may alter or repeal this act at pleasure,
but no act altering or repeating this act,
shall impose any injustice or wrong upon
the stockholders of any bank organized
under it.
SECTION 81. Every corporation organ
lied under this act shall have power to
make all necessary and proper bylaws
for the management and control of its bu-
siness and to fix and regulate the rate of
charges for making collections. The
bank ofO. may revise the bylaws and may
also revise the regulations of the bran
ches concerning charges for making col
lections, and cause both to be made uni
form among the branches, or as nearly SO
as may be deemed expedient.
SECTION SO. The corporations organ
lied under this settlement of their affairs,
Notwithstanding tie repeal of this act;
and no law shall ever be passed diverting
or appropriating the assets of any such
corporation to any purpose other than to
the payment of it's debts and liabilities,
and the distribution of the residue among
its stockholders in proportion to the stock
by them severally owned.
CONTINUED ON THIRD PAGE.