The Tiffin tribune. [volume] (Tiffin, Ohio) 1848-1859, 1857-05-22
NO.33.

. Trying on such business, and the remain
der Of the capital stock of such branc
shall be paid IN, in ihstallments, each o
r least ten per cent on the whole amour
: OF capital subscribed, as frequently a
once ia every four successive months
. nom the time Of commencing busines
uu,il the whole amount Of such capita
shall be pabl up: provided, that the di
} rcotors OF the Bank Of Ohio may extent
] The time for the payment ofsuch deferred
lmStolmcnts, or any part of thom, to III,
branches, whom satisfied that the puhli,
interest does not replite thctn to be paid
as frequently as above provided for
Soc. 23 ~ any shareholder or his as.
slguee shalt lail TO pay any ihslallment
on bis stock when tho ,aiuO shall bo ru.
quired 10 be paid, the brahch may sell
SAID stock atpublc auction. having giv.
en- three weeks previous notice thereof.
m q newspaper published ia tho county
where The branch is located, TO any per-
son who will pay the highest price there
Tor not less thau tho amount unpaid
thoreoni aud the excess, il any, after pay.
ing the expenses Of the sale, shall be re-.
funded to the delinuuent stockholder. IL
no bidder can bo found who will pay for
such stock the amount unpaid thereon to
the branch, aud costs of advertisement
and sale, the amount previously paid
shell be forfeited TO tho branch, and such
stock may be subsequently sold in such
mamor Us the branch may order.
Soc. ~. No branch shalt DO organ
ilod under this act, in tho county Of
Hamilton, with less capital than fvo
hundred thousand dollars; which may DO
increased to any sum not exceeding one
million of dollars.
Nor in either Of tho counties Of Cnya-
hoga or Lucas, with a capital less than
Jhrec hundred thousand dollars. nor in
either Of thu counties Of Franklin or
Montgomery, with capital loss than
two hundred thousand dollars. which
may be increased to any sum not exceed
ing six hundred thoEsnnd dOlhrs.
Sec. 20. Any exhisting independent
bank, banking compay branch Of the
State bank Of Ohio, or free bank, created
by tho laws of this state, and authorized
to issue notes for circulation, may, after
tho organization Of tho Bank of Ohio,
become branch OF the Bank of Ohio,
upon full compliance with all the requi-
sitions Of this act necessary to create a
branch Of such bank The directors of
any such eXhisting bank, organizing as
such branch under this act, nRy do and
perform all the acts required of stock
holders to perfect such organization; and
after the full organization Of any such
existing bank as branch ofthe bank OF
Ohio, such original corporation shall be
heldto be dissolved, except for the purpose
of collectingits assets aud the final settle.
inent ofits affairs in the manner proviuod
ia ito charter: Provided, that nothing IN
this section contained shall be so con-
suucd as to require the Banl, Of Ohio tC
admit any such independent or FREQ bank
to become a branch Of the Bank Of Ohio
unless the directors of tho Bank of Ohio
shall be satisfied that the admission o
such branch will not eopOrdize the inter.
ests Of the public, or the bank Of Ohio
Sec. 20 The capital stock ofeach branch
shall be divided into shares of one hdn.
dred dollars each, aud shall be assignablC
on the books OF the branch in such man
ner as It's by laws shall prescribe, but no
shareholder shall have power to sell Of
transfer any shares held in his own righ
30 long as he shall bo liable, either a.
] principal debtor, surety, or otherwise tC
4 the branch, for any debt. without tn,
consent OF a majority of tho directors
Nor shall such shaieholder.when liable
10 the branch for any debt that is oyel
due, be entitled to receive any dividend
interest or profit On such shares, so Ions
as such liabilities shall continue, but al
such dividends, interest or profits shall b,
retained by the branch and applied to th,
discharge of such liabilities,
Sec. 81. No branch shall take. as Sc
ourity for any loan or discount, lien OF
any part OF It's capital stock, but the SAM
security, both in kind aud amount, shal
be required OF shareholders, as OF person
not shareholders; and no branch shall b
the holder or purchaser OF any portion o
It's capital stock, orol the capital stock o
any other incorporated company unleSI
shuch purchase shall be necessary to pre-
vent loss upon debt previously contract
ell IN good faith, on security which a
the time was deemed adequate to insur
the payment Of such debt, independent q
any lien upon such stock, or in case Q
torieitures Of stock for the not paymen
of installments dno thereon, as provide
in the twenty-ihird section; and stock s.
purchased shall in no case be held by IN
branch so purchasing for longer pero
Of time than six months, if the same ca
be sold for what the stock cost, OF at pal
} Soc 28. In all election Of directors
: and in deciding oil questions at meeting
: OF the stockholders, each share shall eu
= tide the owner thereof to one vote; stoch
b holders may vote by proxies daily autho
e lied in writing. but no officer, clerk, to
e Ter or book keeper Of the branch sha
!, set as proxy. anil no stoekholder who
i liability to the branch is past due and III
paid shall be allowed to vote.
Sec 20 The affairs Of every bran,
u shall be- managed by not less than dl
j nor more than nine directors. Every d
Z rector shall. during his whole terin
K serVica. he eifi5pn of tha IInited Stat