Holmes County Republican. [volume] (Millersburg, Holmes County, Ohio) 1856-1865, 1856-09-04

Second-To pay other liabilities of the said
bank; and after such liabilities shall have been
discharged;
Third-To divide among the shareholders on
their stock.
See. 80. No bank organized under this act,
shall issue any certificate of deposit. order,
draft, bill of exchange, or other evidence of
debt, payable In currency Or In anything less
valuable than gold and silver coin, except re-
ceiPts fer special deposits; ner shall any such
bank keep any account in currency or anything
less valuable than gold and silver coin, except
accounts for special deposits.
See. 81. No bank organized under this act,
shall be permitted, in receiving paymen; at its
banking house or other place than where the
same was payable, or any other note, bill, or
other evidence of debt, due such bank. and pay
able at place other than at its banking house.
to receive in addition to the amount of such
debt and the legal interest due thereon, any sum
whatsoever as premium, exchange or damages;
provided, nothing in this section contained shall
prevent such bank from receiving the damages
allowed by law upon any bona tide bill of ex-
change. duly protested for non-aceeptanee or
nOn-payment.
Sec. b. All transfers of notes. bonds, bills
of exchange. and other evidenees of debt owing
to any bank, of deposits TO its credit; all as
real estate; or of judgments or DEGREES in its ia
vor all deposits of money, bullion or other val
liable thing for its use, or for the use of any of
its stockholders or creditors; all payments OF
money to either. made after the commission OF
an act of insolvency, or in contemplation there
of. with view to prevent the application of its
assets in the manner prescribed by this act, or
with view to the preference of enc creditor tc
another, except In payment of its circulating
Sba1l ha tal mi w ,,,H
Sec. SO. If the directors of any banks or
ganized under this act, shall knowingly violate
or knowingly permit any of the officers, agents
c. sa-vants of such bank TO violate anv of the
provisions of this act all the rights. privileges
and franchises of said bank shall thereby be
forfeited; such violation shall, however, be de-
termined and adjudgcd by a court of competent
jurisdiction agreeably TO the laws of this State
and the practice of such court, before the cor
poration shall be declared dissolved and in case
of such violation, every director who particpa-
ted 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 corporate or
incorporate. shall have sustained in consequence
of such violation. d.
Sec. "a. Every president. dirictor cashier.
teller, clerk or agent of any bank, who shall
embezzle, extract, or wilfully misapply any OF
shall, without authority from the directors, is
sue or put in circulation any ofthe 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 decree, or shall make
any false entry on any book. report or statement
of the bank, with an intent in either case to in
jure or defraud such bank. or to injure or de-
fraud any other company, body corporate or po-
litic, or any individual person, or deceive any
officer or agent appointed to inspect the affairs
of the bank in this State, shall be deemed gull
ty of misdemeanor. and upon conviction there
Of shall be confined in the penitentiary at hard
| labor, not less than five nor more than ten
years.
Sec. 35 Stockholders in banks organized
under this act, shall each be Individually liable
10 the creditors of bank of which they are
stockholders. In sum equal in amount to the
stock owned by each, and should any such
| bank become insolvent, and its assets be found
insufficient to pay its debts and liabilities, its
stockholders may be compelled to pay such de-
| ficiency, in proportion to the amount of stock
owned by each, and should the whole amount
for which stockholders are individually respon-
sible, as provided in this section, be fouad in
any case to be inadequate to the payment of all
the residue~of the debts of any bank after the
application of its assets to the payment of such
debts, then, and in that case, the moneys due
from stockholders on account of their individual
liabilities as such, shall be distributed equally
among all the creditors of such bank, in proper
tion the amount due to each, the personal liza
bility in this section provided for, is over and
above the stock owned by stoekholdere, and
any amount unpaid thereon.
Sec. Sc. The General Assembly may alter
or repeal this act at pleasure. but act altering
or repeating this act, shall impose any injustice
or wrong upon the stockholders of any bank
organized under it.
See. 81. Every corporation organized under
| this act, shall have power to make all necessary
| and proper bylaws for the management and
control Of its business and to fix and regulate
the rate of charges for making collections. The
bank Of Ohio may revise the bye-laws and also
revise the regulations of the branches concern
ing charges for making collections. and cause
both TO be made uniform among the branches,
or as nearly as may be deemed expedielt.
Sec. SO. The corporations organized under
this act shall continue TO exis:so long necessary
for the settlement of their affairs, nOtwithstand
| ing the repeal of this act; and no law shall ev
| er be passed dIvertIng or apprOprlatlng the as
sets of any such corporation TO any purpose 9TH
er than the payment of its debts and liabilities,
and the distribution of the residue amoung its
stockholders in proportion to the stock by them
severally owned.
IN RELATION TO THE BANK OF OHIO.
Sec. 80. Whenever, from the inspection of
| the certificates transmitted by banks to the
| board of bank commissioners, it shall appear
| that any number of said banks, not less than
five have made their elections TO transact their
banking operations as branches of the bank of
Ohio, and have complied with the requirements
| of this act preliminary TO the commencement of
banking operations, then said commissioners
shall Immediately notify each of said banks
thereof, end within ten days after receiving such
notice, they shall each appoint in such manner
as the directors thereof shall prescribe, per-
son TO be director of the bank of Ohio. But
| no person who is not citizen of the United
States, and resident of this State, and who
has not resided in this State at least one year
next previous to his appointment, shall be such
director.
Sec. 40. The directors of the bank of Ohio
who shall have been appointed agreeably to the
provisions of the preceding section. shall, from
the time of its organization until the first day
of May, in the year one thousond eight hundred
and seventy and thereafter until the af-
fairs of the several branches of the bank of Ohio
! shall pc finally closed up, be body corporate,
with succession, and by the name of bank of
Ohio, capable of contracting and prosecuting.
and defending suits or actions fully as natural
persons, and Of doing all other acts and things
necessary 10 effect the object contemplated in
this act by the formation Of said corporation.-
They shall meet in the city of Columbus at
such time as shall be designated by the board
of bank commissioners, who shall give ten days
previous notice to each branch of the time of
such meeting; they shall each take an oath dill
igently, faithfully and impartiaify 10 perform
the duties imposed on them by this act; a GER
tifeate Of which oath shall be filed and preserv-
ed in the office of the Secretary of State. They
shall organize. provided two-thirds of the whole
number shall be convened, by electing some
srrit bic nersnn rs nresident whose duty Ii