Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1857-06-03
BAsK COMMISSIONERS.

NEC. OO. U carly lhlO tloCE Tue lEdNlSlO0S
of this act, Wm. W. Scarborough, Of Cincin-
natl, Franklin T. Backus,' of Cleveland. Hook
ing h. Hunter. of Lancaster, J. R. Finn, of
Columbus. and Samuel Forrer of Dayton, shall
be aud they are hereby appointed commiss-
ieners, and they, or a majority of them, after
taking an oath diligently. faithfully and i'm
partially to perform the duties assigned them
by this act, a certificate of which oath shall
be filed and carefully preserved in the office
of the secretary of state, shall constitute a
board. to be designated the board ofbank com
missioners; which board shall continue until
the erganizationof the Bank of Ohio, as here
in provided for, and thereafter, the duties
which they are required 10 perform by this act,
fhall be performed by said bank; and if any
of said commissioners shall refuse to serve,
shall die or resign, his place shall be filed by
the governor.
Said commissioners shall meet in the city of
Columbus, at such time, within thirty days
after the adoption of this act, as shall be APP
pointed by the governor. who shall notify each
member of his appointment, and Of The time
and place of meeting; they shall, when met,
appoint one of their number to be their presi-
dent, who shall, under the order of the board,
sign all official documents; and thsy shall
cause a fair and true record of all their Official
proceedings to be kept in a book to be provi-
ded for that purpose, which shall be delivered
by the president of said board to the Bank Of
Ohio, as soon as the same shall be organized.
SEC. 81. The board of bank commissioner
shall examine the certificates Of the formation
of branches, transmitted to them as required
by this act, and shall. by one of their own
members or other special agent appointed by
them for that purpose, who shall no. be a
stakeholder in any Of the branches formed un
der this act, immedia ely proceed to examine
the condition of each Of the branches which
shall have transmitted to said board the re
quired certificate: and it shall be the special
duty Of such agent to carefully count or other
wise ascertain the amount Of money paid in
on account Of its capital stock, TO ascer-
tain tie name and place Of residence of
each Of the directors of such branch. and
whether their stockholders, directors and Off
cars are men of responsibility and integrity.
and entitled TO the putlic confidence. and the
amount of capital stock of which each is the
bonaf de owner, whether such bracnh has com
piled with all the requirements of this act
necessary to entitle the branch to engage in
the business of banking, and shall cause to
be made and attested by the oath Of a major
ity of the directors and by tie cashier of such
branch a statement of all the material facts
necessary to'enable the board of bank commits
sioners to determine whether such branch is
lawfully entitled TO commence the business of
banking under the provisions of this act. and
such agent Immediately report TO the board of
banking commissioners such statement and
his proceedings in the premises.
SEC. 50. II, upon a carefnl examination Of
the certificates Of association, and the reports
and statements ofthe special agents appointed
to ascertain whether the branches so organized
have complied with the provisions of this act,
1t shall appear that five or moe such branches
have been formed and that their stockholders.
directors and officers, are men of responsibility
and integrity, and entitled to public conf
dence, and that such branches are lawfully
entitled to commence the business of banking.
the commissioners shall certify the same to
the governor, and shall Immediately notify
each of said branches thereof: and within ten
days after receiving sueh notice, each branch
shall appoint, in such manner as the directors
thereof shall prescribe, one person to be q di-
rector Of the Bank of Ohio. But no person
who is not a citizen ofthe United States, and
q resident of this State and wAs has not re
sided in this State at beast one year next
previous to his appointment, shall be such di
rector.
SEC. So. The governor, nhe be satisfied that
the law has in all respects been complied
With, shall issue his proclamation, setting
forth that such branches are authorized TO
commence and carry on banking, at the pla-
oes sererally designated in thetrcesti1cates Of