Preble County Democrat. [volume] (Eaton, Ohio) 1857-1859, 1857-05-21
of all liabilities on such bills of exchange
one-twentieth part of the amount of such

49, S R ~ f P"O
out on loans or discounts, or in pur-
chasing of drafts Or bills of exchange,
or in payment of depositors, nor shall it
in any mode put in circulation the notes
of any bank or banking company which
notes shall not at that time be receivable
at par in payment of debts, by the
branches so paying out or circulating
such notes, nor shall it knowingly pay
out or put in circulation n notes issued
by any banker or banking Company
which, at the TINE of such paying out or
putting in circulation is not redeeming
its notes in gold and silver, nor any
notes issued by any bank of this State.
All notes, bills, and other evidences
of debt, excepting bills Of exchange,
discounted by any branch, shall be
made by the terms thereof, or by special
Endorsement, payable solely to such
branch, and no such evidence of debt
shall be %assignable except for collection,
or for the following purposes
First-To pay and redeem the cireu-
lating notes o fsuch branch;
Second-To pay other liabilities of
such branch; and after such liabilities
shall have been discharged;
Third-To divide among the share
holders on their stock.
No branch, shall issue any certificate
of deposit, order, draft, bill ofexchange.
or other evidence of debt, payable in
currency or in anything less valuable
than gold and silver coin, except receipts
for special deposits; nor shall any such
branch keep any accounts in currency
| -. - onrthSno lacc vol,oblo fhon oro11
and silver coin, except accounts Of
special deposits.
No branch, shall be permitted, in re-
ceiving payment at its banking house
or other place than where the same was
payable, of any note, bill, or other evil
dence Of debt, due to such branch, and
payable at a place other at it's banking
house, to receive in addition to the
amount of such debt and the legal in
tercst due thereon, any sum whatsoever
as premium, exchange or damages Pro
vided, Nothing in this section contained
shall prevent such branch from %receiy-
ing the damages allowed by law upon
any bona ide bill of exchange, duly
protested for non-acceptance or non
payment.
CEN r all lISil1CIo " hOlSSD OOLNS,
bills of exchanges, and other evidence
of debt owing to any branch, or Of de-
posits to its credit; all assignments of
mortgages or other securities on real es-
tate, or of judgments or DEGREES in its
favor; all deposits of money, bullion or
other valuable thing for its use or for
the use ofany ofits stockholders or cred
itors; all payments Of money to either,
made after the commission of an act OF
insolvency, or in contemplation thereof,
with a view to prevent the application Of
its assets in the manner prescribed by
this act, or with a view to the preference
of one creditor to another, except i'll
payment Gifts circulating notes, shall be
held u~tterety null and void.
SEC. 43. 1.-THE directors of any branch
shall knowingly violate or knowingly
permit any of the officers, agents or ser
wants of such branch to violate any Of
the provisions of this act, all the rights, |
privileges and franchises of such branch
shall hereby be forfeited; such violation
shall, however, be determined and adj
Judged by q court of competent juris-
diction, agreeable to the avs of this
State and the practice of such court, be-
fore the corporation shall be declared
dissolved; and in case of such violation,
every director who participated in, OF
assented to the same, shall be held liza
BILE in his personal and individual capaci-
ty for all damages which the branch,
its shareholders, or any other persons,
body polite or corporate shall have sus
tanned in consequence Of such violation.
SEC. A. Every president, director,
cashier, teller, clerk or agent of any
branch, who shall embezzle, abstract, or
w~ilfully misapply any of the moneys,
funds or credits ofsuch branch, Or shall,
without authority from the directors,
issue or put in circulation any of the
notes of such branch, or shall, without
such authority, issue CT put forth any
certificate of deposit, draw any order or
bill of exchange, make any acceptance,
sign any note, bond, draft, bill of ex
change, mortgage, or other instrument
of writing or shall make any book, re-
port or statement of the branch, with an
intent in either case to %injure or defraud
such branch, or to injure or defraud any
other company, body corporate or polite,
or any individual person, or to deceive
any officer or agent appointed to inspect
the affairs ofany branch, shall be deemed
guilty of a misdemeanor, and upon con-
viction thereof, shall be confined in the
Penitentiary athard labor, not less than
one nor more than ten years.
SEC. 45. Stockholders in branches,
shall each be individually and severallv
li1ble to the creditors of the brc~on of
which they are stakeholder a sum
equal in mount to the stock cwned by
each, and should any such branch be
come insolvcnt, and its assets be found
insufficient to pay its debts and liabili-
ties, its stockholders nay be compelled
to pay such deficiency, in proportion to
the amount of stock owned by each, and
should the whole amountfor which stock
holders are Individually responsible, as
provided in this section, be found in
any case to be inadequate to the pay
ment of all the residue of the debts of