The Cadiz Democratic sentinel. [volume] (Cadiz, Ohio) 1854-1864, 1857-05-14

place than where the same was payable,
OF any note. bill. or other evidence Of debt,
due TO such branch. and payable at
place other than al its banking house. 70
receive iu addition to the amount OF such
debt and the legal interest due thereon.
any sum whatsoever as premium, ex.
change or damages: Provided, Nothing
In this section contained shall prevent
such branch from receiving the damages
allowed BY Law upon any bona 6de bill OF
exchange, duly protested for non secep'
tauce or on-payment.
SEC. AZ. All transfers Of notes. bonds,
bills of exchange, and other evidence Of
debt owing TO any branch. or Of deposits
to It's credit; all assignments Of mortgag.
es or other securities on real estate, or Of
Judgments or DEGREES in its favor; all de.
posits of money, bullion or other valuable
thing for its use, or for the use OF any Of
its stockholders or creditors; all payments
Of money to either. made after the COM
mission of an act Of insolvency, or in con-
temptation thereof. with a view to pre-
vent the application of lite assets in the
manner prescribed by this act, or with
view to the preference Of ope creditor to
another, except 10 payment ofits circulate
ing noIes, shall be held utterly null and
void
SEC 43. Ifthe directors Of any branch
shall knowingly violate or knowingly per.
nit any of the officers. agents or servants
Of such branch to violate any OF the pro.
visions of this act, all the rights, privi.
leges and franchises OF such branch shall
thereby be forfeited; such violation shall.
however, be determined and adjudged by
y court of competent jurisdiction. ngreea.
bly, to the laws Of this State and the prsc-
lice Of such court. before the corporation
shall be declared dissolved; and in case Of
such violation, every director who parti-
cipated in, or sssented to the same, shall
be held liable in his personal and indiVid.
usl capacity for all damages which the
branch, its shareholders. or any other
persons. body polite or corporate, shall
have sustained in consequence Of such
violation.
SEC. "a Every president, director.
cashier, teller, clerk or agent Of any
branch who shall embezzie, abstract, or
wilfully misappIy any Of the moneys.
funds or credits of such branch, or shall,
without authority from the directors is
sue or put in circulation any of the notes
OF such branch, or shall, without such
authority. issue or put forth any cer!i6-
cate OF deposit, draw any order or bill Of
exchange. make any acceptance, sign any
note, bond. draft, bill of exchange, mort.
gage, or other Instrument of writing or
shall make any false entry on any book,
report or statement OF the branch, with
an intent in either case 10 injure or de-
fraud such branch or TO itjure or de-
fraud any other company, body corporate
or polite, or any individual person. or to
deceive any officer or agent appointed to
inspect the affairs Of any branch, shall be
deemed guilty of misdemeanor, and up.
on conviction thereof, shall be confined in
the PenltentaIy at bard labor, not less
than one nor more than ten years.
SEC As Stockholders in branches, shall
each be individually and severalIy liable
to the creditors of the branch of which
they are stockholders, in a sum equal in
amount to the stock owned by each, and
should any such branch becc ma insolvent
and it's assets be found insufficient to pay
its debts and latiIiiies. its stockholders
may be compelled to pay such deficiency
in proportion to the amount Of stock own.
ed by each, and should the whole amount
for which stockholders are individually
responsible. as provided in this section,
be found in any case TO be inadequate to
the payment OF all the residue Of The debts
of any branch after the application of its
assets to the pay yment of such debts, then,
the MONEYS due from stockholders on ac.
count of their individual liabilities as
such shall be distributed equally among
all the creditors of such branch, 10 pro-
portion to the amount due to each; the
personal liability in. this section provided
for, il over and above the stock owned
by stockholders. and any amount unpaid
thereon
SEC 46. The general assembly may
alter or repeal this act at pleasure, but
no act altering or repeating this act shall
impose any injustice or wrong upon the
stockholders of any branch.
SEC. Al. Every branch shall have pow.
er to make all necessary and proper by
laws for the management and control of
its business. and to FIX and regulate the
rate of charges for making collections,
subject to be controlled therein by The
Bank Of Ohio.
SEC. 48. No branch shall issue any
notes intended for circulation as money,
except the notes furnished for that purpose
by the Bank OF Ohio. and all such notes
shall be payable at the branch by which
they are issued. 10 gold and silver coin.
the lawful currency of the United States
or either, at the option of the branch, on
demand; they shall be signed by the pres.
dent or vice president Of the proper
branch, and countersigned By the cashier
thereof. made payable TO bearer, and
shall be negotiable by delivery; all other
evidences OF debt. issued by any branch,
shall be negotiable or transferable in the
same manner as il issued by natural
person, and shall be binding on the branch,
whether under seal or not, and all such
evidences of debt. other than notes Of
circulation, shall be payable to the order
Of some person therein named.
SEC. 40. The branches shall continue
to exist SO long as necessary for the set.
Element of their affairs, notwithstanding
the repeal of this act; and no law shall
ever be passed diverling or appropriatipg
the assets Of any such branch to any pur-
pose other than to the payment of it's
debts and liabilities, and the distribution
Of the residue among its stockholders in
proportion TO the stock by them severally
owned.
BANK COMMISSIONERS.