Eaton Democrat. [volume] (Eaton, Ohio) 1843-1856, 1856-05-15
TalI2 NO.47

nOteS, nor Snal u knONlUgN pay Oul VI put
in circulation any notes issued by any bank or
banking company which, at the time OF such
paying outOr putting in circulation is not re-
deeming lis mites in gold and silver, nor any
notes ISSUED by any bank out af this State.
SECTION 90. all notes, bills and other ev-
idences Of debt, excepting bills Of exchange,
discounted by anv bank, shall be made by the
terms thereof, OF by special Endorsement, pay
able solely 10 such bank. AMI no such evidence
of debt shall be assignable except for collec-
tion, or for the following purposes:
FIRST TO pay and redeem the circulating
notes ofsueh bank;
Second--L o pay other Liabilities OF thessid
bank; and afer such liabilities shall have been
discharged;
Th:rd-To divide among The shareholders on
their stock.
SHcTIoN 30. No bank organized under this
act, shall ssae any certificate Of deposit, Of
der, daft, bill Of exchange; or othe evidence
Of debt, payable in currency or III anything less
valuable tltan gold and silver coin, except re-
ceipS for special deposits; nor shall any such
bank keep any accounts in currency or many
thing less valuable than gold and silver coin,
except accounts Of special tcpcslts
SECTION 81. No bauk organized under !hlS
act, Sha III be permitted, N receiving payment
at its banking house or Other lace than where
the same was payable, of any note, bill, or
other evidence OF debt, due 10 such bank, AMI
payable at place other than at its banking
house, 10 receive in addition 10 the amount OF
such debt and the legol interest due thereon.
any sum whatsoever as PREMIUM exchange or
damages; provided, nothing IN this section
contained shall prevent such bank from receiv-
ing the damages allowedby law upon any bona
fde bill of exchange, duly protested for non
1cocepiance or non payment.
SECTION 80. All trans fers OF notes, bonds,
bills Of exchange, and other evidence OF debt
owing to any bank, OF OF deposits to its credit;
a assignments ot mortgages or other securl-
ties on real estate, or of Judgements or Gecrees
in its favor; all deposits of money, bullion CT
other valuable thing for its use, o; for the use
of any Of its iockholders or creditors; all pay
ments OF money to either, mads after the COM
mission OF an act of insolvency, or in contem.
pIation thereof, with viewto prevent the ap.
pcalion Of its assets in the manner pTescrl-
bed by this aci, or with o view 10 the prefer.
ence OF one creditor TO another, exceptin pay.
ment Of lis circulating notes, shall be held ut
| terly null and void.
SECTION 33. lftEe directors Of any banks
organized under this act, shall knowingly vi
olale or know ingly permit any OF the office rs,
agents or servants Of such bank 10 violate any
OF the provisions OF this act, all the rights
privileges and franchises Of said b nix shall
| thereby De forfeited, such violation shall, how
ever, be determined and adjudged By court
| Of competent jurisdiction, dgreeaby 10 the
| laws of this State and The practice Of sucI
court, before the corporation shall he declared
dissolved; and in case ofsuch violation, every
direct6r who participated in, or assenled ic
| the same, Shall be held linble in his personal
aud Individual capacity for all damages which
| The company, lis shareholders, or any otkel
persons body corporate or corporate, shall have
sustained in consequence Ct such violation.
SEcrIoN 81. Every president, director, cash
ier, teller, clerk or agen, Of any bank, wlic
shall embezzle, extract or wllilully mis- POI!
any Of the moneys, funds or credits Of such
bank, or shall, without authority from the dl
rectoIS, issue or put in circulation any oil the
i notes OF such bank, or shall without such au'
Ithoriiy, ssne or put forth any cert fcale OF tie
post, draw any order or bill OF exchange. make
any acceptance, sign any note, bond, draft
bill ofeXchange, II oHguge Judgement or de-
cree, or shall make any false entry on an!
| boob, report or s1trme nj of tie bank, with al
\ inlSut in either case 10 njure or dciEau'i Sucl
bank, or 10 injure o, defraud any other compa
lny, body corporate or polite, or any iHtlivdu
al person; or 10 deceive auy officer or agen
appointed 10 inspect The affairs Of any bank il
State, shall be deemed guilty ofa mlsdemean
or, aud upon conviction thereof, Shall be con
fined in the penitentiary at hard labor, no
less than FIVE nor more than ten years.
Il SECTION 35. StockbolderS in banks organi
zed under this act, shall each be individually
and severally liable 10 The creditors Of banl
of which they are stockholders, in sum equa
in amount 10 the stock owned by each, aut
should any such bank become inSolyent, ant
4 its assets be found insufficient 10 pay il
! debts ana liabilities, It's stockholders may b,
Compelled TO pay such deficiency, in proper
lion 10 The amount Of stock owned by each
and should the whole amount for which stock
/ holders are individually responsible, rs provi
dei in This section, be found in any case /
! be inadequate TO the paymeut Of all The resi-
, due Of the debts of any bank after the Apph
cation of its assets 10 the payment OF sue
! deS,s, then, ant in thai case, the money du
! from stockholders on account Of their indlvid
! ual liabilities as sIcb, Shall be distribute
equally among all the creditors o('such bank
pI Inproporition 10 the amount due 10 each, III
r personal liability in this section provided To-
: is over and above the stock owned by stock
/. holders, and any amount unpaid thereon.
E SEcTIoE 39, The General Assembly ma
i, latter or rep:0l thus act at pleasure, but n
/ act altering or repeating this act, shall impos
{ any Injustice or wrong upon the stockholdel
{ of any bank ,organized under il.
/; SECTION 81. Every corporation organized un
q der this act shall have power 10 make all nee
i essary aud p,oper bylaws for the manage
+, ment and control Of its business and 20 fix an
/ regulate the rate of charges for making coleC
el lions. The bank Of Ohio may revise the bye
e laws and may also revise The regulations {
+ the branches concerning charges for collec
I tions, and cause both TO be made uniloti
Y Inmong The braaches, or as nearly So as may b
Q ldeemed eSpe,ient.
I SECTION So. The corporations organized un
G lderihH act shall continue 10 exist so loug
nj necessary for the settlement Of ibeir Sfair
Notwithstanding the repeat of this act; and n
:. law Shall ever be passed diyerting or aPprc
n tpfiating the assetssoi any such corporation /
/. lany purpose o her Than 10 The payment Of il
" debts aud liabilities, and The distribution
n lhe residue among It's stockbnlders in p,c
a alporhon 10 tie stock BY them seseplly owt
j ed.
+ IN RELATION TO TIE BANK OF OHIO
/ SecTqoN 80 !. Whenever, from an.inspeclio
htof The certificates transmitted by hanks 10th
ill lbourd Of hank commissioners, i, shall appei
~ that any plumber OF said banks, not less Ina
live, have made their cleo ioil, 10 transact The
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