Meigs County telegraph. [volume] (Pomeroy [Ohio]) 1848-1859, 1856-05-20

rights. privileges and franchises ot said banl
shall thereby be forfeited; such violation
shall, however, be determined and Adjudgec
by court Of competent jurisdiction, agree
ably 10 the laws Of this Sale and the prac
tice OF such cour., before the corporation
shall be declared dissolved; and in cpse oI
such violation. every direslor who par,icipa.
ted 10, or asssnled 10 the same, shall be held
liable in his personal and individual capacity
for all damages. which the company, is
shareholders, or ony other persons body cor.
porate or polite, shall have sustained in
consequences OF such violation. .l
Sec 81, Every president. director, cash.
ier, teller, clerk or agent Of any bank who
shall embezzle, extract, Qr wilifullY misap.
Ipfy any oI the monays; funds, OF credits q
such bank, or shall, wi,hou, authority from
the directors, issue or-pu, In circulation any
Of the notes Of such bank, or shall. wiiIoui
such authority, issue or put forth any cerh6!
cate 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 hook, report or statement Of
The bank, with an intent in either case 10
injure or defraud such bank, or 10 injure or
defraud any other company, body corporate
or polite, or any individual person, or TO de-.
ceve any officer or agent appointed 10 in.
spect the affairs Of any bank 10 this STATE,
shall be deemed guilty Of a misdeineanor,
and upon conviction thereof, shall be con.
fined in the penitentiary at hard labor, NOT
less than FIVE nor more than ten years.
Sec. 35. Stockholders in banks organ.
lied under this act, shall each be individu-
ally and severally liable 10 The creditors OF
a bank Of which they are stockholders, 10
sum equal in amount 10 The stock owned
by each, and should any such bank become
insolven,. and It's assets be found insult.
cient 10 pay lis debts and liabilities, its stock.
holders may be compelled 10 pay such def
cheney, in proportion 10 the amount Of stock
owned by each, and should the whole amount
for which stockholders are individually re
sponsible, as provided in this section, be
found IN any case to be inadequate 10 The
payment OF all The residue Of the deb,s Of
any bank after the application OF its assets
TO the payment Of such deb,s, then, and In
that case, the moneys due from stockholders
on account Of their liabilities as such, shall
be distributed equally among all the credi.
,ors Of such bank. in proportion to the
amount due 10 each, the personal liability
in illis section provided for, is over and
above The stock owned by stockholders, and
any amount unpaid thereon.
Sec. Sc. Tne General Assembly may
alter or repeal this ac. at pleasure, but no
act altering or repeating this act, shall i'm.
pose any injustice or wrong upon The stock.
holders of any bank organized under H..
Sec. 81. Every corporation organized
under this act, shall have power 10 make all
necessary and proper BY laws for The man.
agemen, and control Of lis business and 10
fix and regulate the rate Of charges for ma.
king collections. The bank of Ohio may
revise the by laws and may also revise ihe
regulations Of The branches concerning char.
ges for making collections, and cause both
10 be made uniform among the branches, OF
as nearly so as may be deemed expedient
Sec. 39. The corporations organized
under this act shall continue IL exist so long
as necessary for the settlement of their of.
fairs, Notwithstanding The repeal OF This acI
and no law shall ever be pas.ed, diverling tr
appropria.ing The asse,s Of any such corpo.
ration 10 any purpose other than 10 the pay.
menl OF its debts and liabilities, and the dis.
lribulion Of The residue among its stockhol-
ders in proportion TO tho stock by them sew.
orally owned.
IN RELATION TO THE BANK OF OHIO.
Sec, 80. Whenever, from an inspection
Of The certificates transmitted by banks 10
The board Of bank com missonels, 1t shall
appear that any number of said banks, moi
less than five, have made their election 10
transacl their banking operations as branch.
es Of the bank Of Ohio. and have complied
with the requirements Of this act ,prelim-
nary 10 the commencement, Of banking OPP
eraiions, then said commissioners shall In.
medialely notify each Of said banks thereof
and within len days after receiving such no.
dee, they shall each appoint in such man.
ner as the director thereof shall prescribe,
one person 10 be director of the bunk ofI
Ohio. But no person who is no, citizen
Of The United States. and aresiden. of this
State, and who has no, resided within The
State al least one wear nexl previous 10 his
shall Be such director.
Sec. 40. The directors Of the bank OF
Ohio who shall have been appointed agree.
ably 10 the provisions Of the preceding sec
tion; shall. from the time OF lis organization
until the frsl Gay of May, in the year one
thousand eigh. hundred and seventy seven,
and thereafter until the affairs OF the several
branches Of the bank of Ohio shall be finally
closed Up. be a body corporate, with success
sion, and by the name ol the Bank Of Ohio,
capable OF contracting and Of prosecuting,
and defending suits or actions; as fully as
natural PERSONS, and Of doing all Other ac,s
and things necessary 10 effect The objecl
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 com.
missioners, who shall give zen days previous
notice 10 each branch OF The lime Of such
meeting; they shall each take an oath dill.
gently, faithfully and itiparyially 10 perform
the duties imposed on ihem by this act;
certificate Of which, oa,h shah be filed and
preserved In The office Of the Secretary Of
S'ale They shall organize. provided Two