Preble County Democrat. [volume] (Eaton, Ohio) 1857-1859, 1857-05-21
LAWS OF OHIO.
PUBLISHED BY AUTHORITY.
ENo. 1927 NJ. AN ACT

40 incorporate the Bank OF ONO ana
-..r -c Branches ....--
!" SRCTIoN1. Be it enacted by the Gen
eral Assembly of the State of Ohio, That
the Bank of Ohio be and the same is
hereby incorporated with all the powers
hereinafter granted, and by that name,
shall be capable of contracting, and of
prosecuting and defending actions as
fully as natural persons, and of doing
all other acts necessary to effect the OBJ
jects contemplated in this act by the
creation of said corporation.
-l.SEo. 2 That as soon as five or more
branches of the Bank of Ohio shall be
organized, as in this act is authorized,
the directors of the Bank of Ohio, APP
pointed by such branches, shall meet in
the city of Columbus at such time as
shallibe designated by the board of bank
commissioners, who shall give ten days
previous notice to each branch of the
time of such meeting, and provided two
thirds of the whole number of such di-
rectors shall be convened, they shall or
ganize by. taking an oath, diligently,
faithfully and impartially to perform the
duties imposed upon them by this act,
aheertifcate of which oath, signed by
each director, shall be filed and pre-
served in the office of the secretary of
State, and by electing some suitable
person as president, who shall preside
ut the meetings of the board and sign
its official documents; ard thereafter the
directory of the Bank of Ohio shall be
composed of enc director appointed by
each branch of said bank, two-t thirds of
whom shall be a quorum,
Sec g. The directors shall, when they
deem it necessary, elect vice president,
whose duties shall be prescribed by the
bylaws. They shall appoint Il secreta-
ry who shall keep fair and true record
OF the proceedings of the bank. They
shall keep an Office in the city of Co.
lumbus, which, together with their books,
papers, records, and accounts of every
description, shall at all times be open to
the inspection of any committee of the
General Assembly, or eithtr branch
thereof, and ofany commissioner or COM
miss;oners specially appointed for that
purpose by the General Assembly, or
either. branch thereof; They shall pro-
cure and furnish each branch with notes
for circulation, and decide on the amount
to be furnished from time to time to
each, within the limits and agrecably to
the rules and restrictions prescribed by
this act. They may prescribe rules for
the settlement of balance between the
branches, revise their by laws and reg
ulations concerning charges for making
collections, and cause both to be made
uniform, or as nearly so as may be eX-
pedient. They shall have power by
themselves, or by committee Of one or
. more members of their own body, or by
special agent appointed by them for
that purpose, whenever, and as often as
they shall think proper, to visit any
branch, inspect its books, records and
accounts, and all the evidences Of debt
due to and securities held by such
branch; examine and ascertain the
amount of money and other property
held by such branch; examine on oath
the president, vice president, directors,
cashier, and all other officers, agents,
clerks, or servants of the branch, touch
ing its condition, means and liabilities
They shall have power to require any
branch to reduce its circulation or other
liabilities, within such limits as they
shall, after full inquiry into its condi-
ton, dsem necessary to secure from loss
either the dealers with such branch. or
the other branches of the Bank of Ohio
They shall, as soon after the first Mon
day of every month as practicable. pub
lish in some newspaper printed at CO.
lumbus, consolidated abstract of the
monthly reports of all the branches,
showing their assets, liabilities and CON
dition, which statements shall be recor-
ded in book or books to be kept for
that purpose. They may appoint an
executive committee of not less than
three, of whom the president or vice
president shall be one, to act in behalf
of the bank in all such cases, as shall be
prescribed by the by laws of said bank,
not inconsistent with this act
SEC. t. The president, vice president,
secretary, and all other officers or agents
of the bank shall each receive such com
pensation for their services as said bank
shall allow, which shall be assessed upon
the several branches of the bank of
Ohio, in the ratio of their capital stock.
The bank may also allow the executive
committee such compensation as it shall
deem just and reasonable, to be paid by
the several branches in the same man
ner; and the expenses of procuring
plates and printing notes Of circulation
Shall be paid by the several branches, in
the ratio of the notes of circulation, re-
ceived by each.
SEC. 5. Eeach director of the bank
shall continue in office until the first
Monday of February, next after his ap
pointment, and until his successor shall
be appointed and qualified, vacancies in
the board shall be filled by the branch
by which the appointment vacated was
made. In voting, each member shall
be entitled to two votes, and to one ad
ditional vote for every fifty thousand
dollars of the amount of capital stock
paid in to the branch represented by
hinf over one hundred thousand dollars,
at the time of such voting. The presi-
dent and vice president Of the bank
shall hold their Offices for one year. and