The Tiffin tribune. [volume] (Tiffin, Ohio) 1848-1859, 1857-05-22


sno. a.. Every president, director
,ashier, teller, clerk or agent Of any
branch, who shall embezzle, abstract. on
ailllully misapply any Of the moneys,
nnls or credits Of such branch. or shall.
"a horily flomtLe diroctors, issue
Or ptt In circulation any of the notes OF
such branch, OF shall. without authority.
issue or put forth any certificate Of do
post, draw any order 9r bill ofexchange.
make any acceptance, sign any note,
bond, draft, bill Of exchange, mortgage
o. other Instrument Of writing or shall
make any false entry on any book, re-.
port or stotment OF the branch, with ON
intent in either case 20 injufc or dcliuud
such branch, or to injurs or defraud any
other company, body corporate or polite
or any Individual pergon, or TO deceive
any officer or agent appointed to inspect
the affairs Of any branch, shall lie deemed
guilty Of disdomoanor, aud upon con-
yiction thereof, shall DO confined in the
Penilontiery at hard labor, not less than
one nor more than ten yeais.
Sec 80. Stockholders in branches, shall
each be individually and soverally liable
to the crolitors Of the branch Of which
they are stockholders, in a sum equal in
amount 10 the stock owned by each, and
should any such branch become insolvent,
and assets be found insufficient to pay It's
debts aud liabilities, It's stockholders
may be compelled to pay such deficiency,
in proportion to Ito amount Of stock
owned by each, aud should the whole a.
mount Of stock owned by each, and
should the whole amount for which
stockholders arc Individually responsi.
bic. as provided in the section, be found
in any case to be inadequate to tho pay.
nent of all the residue Of the debts OF
any branch after tho application Of It's
assets to the payment OF such debts, then,
tho moneys due from stockholders on ac-
count Of their individual Liabilities a.,
such, shall be distributed equally among
all tho creditors Of such branch. in por.
portion to the amount due to each; the
personal liability in this section provi.
dod for, is over aud above the stock own
eel by stockholders, and any amount un.
paid thereon.
See. 49, The general assembly may
alter orrcpoal 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. AZ. Every brauoh shall have pow.
er to mako all necessary and proper by
laws for the management and control OF
is business, and to fix aud regulate the
ratio Of charges for making collections,
subject to bo controlled therein by the
Bank Of Ohio.
Sec. IS. No branch shall issue any
notos intended for circulation as money,
except tho notcs furnished for that pur
pose by tho Bank Of Ohio, aud all such
notes shall be payable Mt the branch by
which they are issued, in gold and silver
coin, the lawful currency Of the United
States, or either at the option of Il Q
branch, on demand; they shall be signed
by tho president or vice president of the
proper branch, and couniersiguod by the
cashier thereof, made payable to bearer,
and shall bo negotiable by delivery; all
other evidences of debt, issued by any
branch, shall be negotiable or transleri b.
bio in the same manner as if issued by u
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 80. Tho branches shall continue
to exist 50 long as necessary for the set
tlement OF their affairs, notwithstanding
the repeal Of this act; and no law shall
ever DO passed divering or appropria-
ting the assets Of any such branch to any
purpose other than to the payment of its
debts aud liabilities, aud the distribution
OF tho residue among it's stockholders in
proportion to the stock by them several
y owned.
BANK COMMISSIONERS.
Sec. 80, To carry into effect the pro-