The Cadiz Democratic sentinel. [volume] (Cadiz, Ohio) 1854-1864, 1857-10-01
Laws OF Ohio.
PUBLISHED BY AUTHORITY.
AN ACT.


| SECTION /. Be it enacted by the General Assembly
of the State OF Ohio That the Bank of Ohio be ard
the same is hereby incorporate ed with all the powers
hereinafter granted, and by that name shall he capa
bic Of contracting, and of prosecuting and defending
actions fully natural persons and of doing al
other acts necessary to effect the objects contempa-
ted in this act by the creation said corpo alton.
Sec. 2. That as soon as i've or more branches OF
the Bank of Ohio shall be organized in this act is
authorized, the directors OF the Bank OF Ohio apooln
ted by such branches, shall in the CITY of Co.
iumbus at such time shall bn designated by the
Board of Bank Commissioners. who shall give ten
days previous notice to each branch Ot The, time OF
such meeting, aud provided two.thirds of the whole
number of such directors shall be convened, they
shall organize by taki an oath, diligently faithful
y and III partially to perform the duties imposed up
OH them by this act, certificate OF which oath, sign
ed by each director, shall be filed and preserved in
the office of the secretary OF State, and by eecting
some suitable person plesldent WHO shall preside
at the meetings OF the board and sign lis official doc
uments aud thereafter .-}e directory tf the bank o
Ohio shall be COMPOSED OF one director appt ned by
each branch oil said bank, two-thirds OF whom shall
be quorum.
Sec. The directors shall, when they deem it ne.
cessarv, eeCta vice president who,e duties shall bt
prescribed by the bylaws. Thev shall appoint q
secretary who shall keep fair and true record o. the
proceedings of the bank. They shall keep an Office
in the city of Columbus, which, together with tneil
books papers, records and accounts OF overy dcscrp
ton, shall at all times be open to the inspection o
any committee of the General Assembly, or either
branch lheyeot, and O any commissioner or comm s.
siouers specially appointed for that purpose bv the
General Assembly, or either branch thereof. They
shall procure and furnish eacl branch with To-
circulation and decide on the amount 10 be furnish
ed from tine to time to EACH within the lin its and
restrictions prescribed by this act. They pre-
Ccribe rules for the settlement of balances between
the branches, revise their by laws and regulations
concerning charges for making collections and! cause
both to be made uniform or as rly SO as may be
| nav abaIl bauo hu oIu,e
or by a committee Of one or more members of their
own body, or by special agent appointed by them
tor that purpose whenever and often they sha
think proper, to visit ally branch, inspect its books
records and accounts and all the evidences of debt
due to and securities held by such brarGh examine
Oh oath the president vice presden:, directors. IA
shier and all other officers agents. clerks or servants
OF the branch Touching its condio !, means and Ii
abili les. They shall have power to require any
branch to reduce it's circulation or other abili les
within such limits as they shall, after full inquiry
into its condition, deem necessary to secure from loss
either the dealers with such branch, or the other
branches of the bank OF Ono. They shall, as so Il
ate the first Monday OF every month as practicable
publish in some newspaper printed at Columbus, Q
consolidated ubsttact OF the monthly reports OF a.,
the branches, showing their assets, liabliitles and
condiilon which staemen's shall be recorded inc
book or books 10 be kept for that purpose Thay
may appoint an executive committee OF not less
than three OF whom the president or ice president
shall be one to act in behalf OF the bank in att such
cases. as shall be prescribed by the by laws Of said
bank, not inconsistent with this act.
. SEC 4. The PRESIDENT vice president, secretary
and all other officers agents OF the bank, ,hall
each receive such q mpensaion for their services
as said bank shall allow, which shall be assessed
upon tie several branches of the bank of Ohio, i'll
the ratio OF their capital stock The bank may al
low the executive committee such compensa-
ton it shall deem just and reasonable, to ne paid
by the several branches IN the same manner; and
the expenses OF procuring plates and printing notes
OF cIrcula ton shall be paid by the several branches
in the ratio OF the notes OF circulation received by
each.
SEC 5. Each director of the bank shall ,ntinue
in office until the first Monday of February, next af
ter his appointments anu until his successor shall be
appointed and qualified, vacancies in the board
shall be fill ed by the branch by which the appont-
ment vacated was made In voting, each member
Snail be en- 10 two votes, and one ID.
dtonal vote Tor every hltv thousand dollars OF the
amount oil capital stock paid in to the branch repre-.
sented by him over one hundred thousand dollarsat
| the time OF such voting. The president and wee
presidcu of The bank shall hold the offices Tor one
year, and until their successors shall be appointed
but they may be removed by resolution of the
board. They and all other officers and agents
OF the bank shall take oath faithfully, diligently
and impartialy fulfill the dute sot their appoint
menls and not knowingly VIC late any OF the provis.
ions OF this act. They may be required to give
bond in such sum, and such securities as the bank
shall prescribe and all vacancies in said appoint.
ments shall be fill led by the bank.
SEC G. All notes designed for circulation by the
branches, shall be furnished by The bank of Ohio
but no such notes shall be delivered to any branch
4 until they are numbered and codntersguedb by some
perton or persons, authorized to countersign the
same as register and full record of such number.
ing and counlersgning made in book provided
for that purpose, aud all such notes shall have sanl-
ped or printed their face, the words, "Regstered
By the Bauk Of Ohio Alnotes 50 worn, defaced
or nutiaed, as to be unfit for crcua aton sh all be
! returned by the branch by which they were issued
to the bark, and an equal amount Of new notes re-
! ceived therefor; all such notes so returned by
branch, shall be credited and all the new ones de
livered in their stead shall be charged to such
brahsh on the books OF sail bank; ana the notes SO
returned shall bebhrned to ashes in the presence ol
the president or vice president, and at least two OF
4 the directors of said badkI 81, aE asA
! SEC. 7. Before the nank shall deliver to any
bf lnch, notes for circua pn 1t shall require such
br inch TO pay or deposit TO the credit of the
ba Tx as said bank shall order, either in money Of
IN certificates OF the stocks Of this state, or ofthe
United Stat 81 at their current value in the city
New York, but il no instance above their par v
uS, an amount oqdal 10 ten percent on the amount