The Perrysburg journal. [volume] (Perrysburg, Ohio) 1853-1861, 1857-07-09
LAWS OF OHIO.
PUBLISHED BY AUTHORITY.

powers hereinafter gran,ed, aud by that name shall
becFpable of contracting, and OF prosecuting and
defending MtOns as fully a1 natural persons. anu
of doing all other acts necessary to effect the Oh.
jects contemplated in this act by the creation OF
said corporation. e
Sec 9 That as soon as live or N ore branchesof
the Bank Of ONO shall be organized, as in this
act is author: kpd the Directors of the Bank Of
Ohio, appointed by such branches, shall meet III
the city Of Columbus at such time ss shall be de-
signated by the board of bank commissioners, who
shall give ten days previous notice TO each braoch
of the time of such meeting, and provided two
thirds of the whole number OF such directors
shall be convened they shall org ,hrze by taking
au oath, diligently, faithfully and impartally TO
perform the duties imposed upon Them by ihis
act, certificate of which oath, signed by each
director shall tc filed and preserved in he office
Of the Secretary OF state, ana by electlng some
suitable person as, president, who shall preside
at the ings Of the board ard sign its official
documents; and thereafter the directory OF the
Bank of 0hio shall be composed of one director
appointed by each branch OF said bank, two T. rds
OF whom shall be quorum.
Sec B. The direc ots shall, when they deem 1t
necessary, elect a vice president, who.e duties
shall be prescribed by the by-laws. They shall
appoint secretary who shall Keep fair and true
record OF the proceedings of the bank. j hey
shall keep an office in the city of Columbus,
which together with lhcir books papers records
and accounts Of every description, shall at all
times be open to the inspection OF any committee
OF inc tenefal Assembly OF eilntF bt'uCll u tItoI
and Of any commissioner commissioners spe
oially appointed for that purpose by the General
Assembly, or either branch thereof TheJ shall
procure and furnish each branch with noles Tor
circulation and decide on the amount to be iur-
nished from time to ime to each, within the lin
its and agreeably to The rules and restrictions
prescribed by this act They may prescribe
rules between the branches for the settlement
of balances, revise their by laws and regulations
concerning charges for making colltcio rs, and
hntb In Ia tnl adj II or az iparly
may be eXpedient. They shall have rower. 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 account,
and all the evidences of debt TO aud 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 ofi.
Gers, agents, clerks, or servants of the branch
touching its condition, means and llabilitle'.-
They shall have power to require any branch to re-
ducs its circulation or other Liabilities, wlthln
such limits as hey shall, after full inquiry into its
condition deem necessary to secure from loss her
he dealers with such branch. the other branches
of the Bank of Ohio. They shall, as soon after
the first Monday of every month as practicable,
publish in some newspaper printed at Columbus,
a consolidated abstract of the monthly reports OF
all the branches showing their assets, Liabilities
and .ndition, which statements shall be recorded
in a book books to be kept for that purpose -
The may appoint an executive committee Of not
less than thee, of whom the pres dent 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. 4. The president, vice president, secretary.
and all other officers agents of the bank shall
each receive such compensation for their services
as said bank shall allow, which shall be assessed
upon the several branches Of the Bank of Ohio, in
the ration of their capital stuck. The bank may
also allow the executive committee such conpen-
sation as it shall deem Just and reasonable, to be
paid by the several branches in the same manner;
and the expenses Of procuring plates aud print
ing notes of circulation shall be paid by the sew
eral branches in the ratio of the notes Of circula
ton, received by each,
Sec. s. Each director of the bank shall continue
in office until the first Monday of February, nrxt
alter his appointment 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, AMI to one
additional vote for every fif thou dollars Of
the amount Of stock paid into the branch repre-
sented by him over ote hundred thousand dollars.
at the time of such voting. The president aud
vice president of the btnk shall hold their offices
for one year. aud unt their successors shall be
appo nt"d. hut they nav be removed by a rrSolu-
tion ofIthe board They and all oher officers and
Hgent> vi tnu bank si4n Ike an o. II tII.hiIity
diligently and lmplrila!lY u il'hI t1e dN'leS o.
their hppVlujm .uts and not knUwingl, violate any
of the provisions Of this at. They may be re-
quired to give bond in such sum, aud with such
securities the bank shall pres 'riLc; and all va
cancies i'll said appointments shall be filled by the
bank.
Sec. 6. All note designed for circulation bv the
branches, shall be furnish, d 10y the Bank of Ohio.
but no such notes shall be delivered to any
branch until they are numbered aud coun,ersgned
ry some person or persons authorized to counter
.Ig ft,lI ,.fg
numbering and counter'igning made IN a book
provided for t at Furp'e, ani all such notes
shall have stamped or prnel on their face, the
words Registered tiy the BaHl, of Ohio - All
notes so worn, defaced, or mutatp'l, "a to be uu-
fit for crcpatiun shall be returned by the branch
by which they issued TO The bank, and an
equal amount of new notes received therefor. all
such notes returned by branch, shall be cred
lied, and al new ones delivered in their steal
shall be charged To such branch On the books If
said bank aud the notes returned shall be
burned to a,hc, in the pre- of the president
vice president. anl at least two of the d!rcc-
tors of said b lrk.
Sec :. Before the bank shall deliver to an,
branch. notes for rircula on, it shall require s4ch
branch to pay or deposit the credit of id
bank as sad bank shall order either in money or
in cprtii of the stocks OF this ate OF the
United States at their TRENT value in the tv of
New York, but in no instance abIve their par
value, amUuLd equal 10 ten per cent. on the
amount Of the notes Tor circulation which shall be
delivered to such branch. And 90 from lime to
time, as any branch may, by he paying in of an
additional amodnt un Ils capital stock or by not
having received the amount o uutes for circulation
To which It WAS previously emitted, receive an
additional amount at notes for circulation such
branch shall d'posit with the bank ten per cent
the amount OF notes SO received, and the stocks
aud money deposit halt be denominated the
safety fund, AID shall be invested as hrreiuaf.
Ter prescribed. and held by the hauk as the prop.
erty Of sad branch in trust for the benefit Of the
several branches of the Bauk of Ohio and as
fund for the redemption Of the of circulation
of any one or more of srd bra che that may fail
10 redeem its notes, to be applied to that purpose
in the manner pointed out by this act.
Sec, 9. All money deposited or paid TO the
bank cunt Of the ,fety fund. toy any
branch, shall be-, under the direction Of said bank
invested by such branch either in stocks of the
state or { The United Sta'es or in bonds secured
by mortgages on uneucumb,re,l real estate situate