Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1857-12-03


No 40 AN ACT in amendment act approved Novem-
Der IT, 1851 entitled an act to authorize the business OF
banking.
IL is hereby enacted, DC.
Sec. l. That whenever proceedings shall be
or have been commenced for closing up any
bank authorized by the act approved November
II, 1851 entitled an act 10 authorize the bust
ness of banking, it shall be competent for any
chancellor, on application, to fix IL time, to be
not less than four nor more than twelve months,
for the presentation of bills or notes against
SAID bank, either to the treasurer of the State
or receiver of such bank, for redemption and
payment; notice OF which time shall be pub.
ished as such chancellor may direct; and all
bills or notes not presented within the time 80
fixed shall cot be entitled to consideration in the
distribution OF the assets Of said bank in the
hands Of said treasurer or receiver, and such
publhed notice shall 80 state, but said assets
shall be distributed ana apportoned as though
all such bills or notes had b ,en presented: Pro-
uided, this act shall not b. 50 construed as to
authorize the chancellor to order any bond exc
cuted under the provisions Of section fifty of an
act entitled IAN act to authorize the business of
banking approved November II, 1851, into the
uduuo VI VIC TcCCifOf vi SuUu Uluh.
Seq. 2. On application Of the treasurer or
any person 10 interest in such bank, the chaucel.
lor shall have power to order the securities in
the treasurers hands into the receivers hands,
on his filling with the treasurer good and sulfi-
cient bond, in such sum as the chancellor shall
order, to the acceptance of such treasurer or
chancellor, and to order the application of the
proceeds Of such securities according to law.
| hap han o..
organized under the general banking law, shall
be closed, either by the voluntary act of the as.
ISOLATION or by operation Of law, aud when any
association partly organized shall abandon or
fail to complete the same, the treasurer and sec.
rotary Of State are hereby empowered and d.
rected to destroy all such bills when redeemed
and the sheets, blank notes and plates of such
organized or unorganized association
Sec. a.. This net shall take effect from its
passage.
Approved, November 10, 1857.
No. "A AN ACT in amendment OF an act entitled an act
to authorize the business Of banking approved November
II, 1851.
II is hereby enacted, DC.
Sec. l. 10 case the maker of any circulat-
ing note or notes, countersigned and registered
Us SpoCinou neCblOH iUuT vi an ACT entitled an
not to authorize the business of banking an.
proved November II, 1851, shall at any time
hereafter. when payment thereof shall be de
manded during the usual hours OF business, be-
tween the hours Of ten and three O clock, at the
place where such note or notes is or are payable,
fail or refuse to redeem such note or notes in the
lawful money of the United States, the holder
Of such note or notes making such demand nav
lodge the said note or notes, accompanied with
his affidavit that such demand had been made
and payment refused as aforesaid, with TIE
treasurer OF the State, and on receiving such
note or notes and affidavit, the treasurer shall
proceed in the same manner as is now provided
10 said act in cases where protests are Red with
such treasurer.
t SEC. 2. So much of said section four as re-
qures such uote.or notes to DO protested for non
, paGment is hereby repealed