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


publishedoeruaesse of ,heirdlshone'y.
-. -.-..ss...-.-.-.. -..---s.s.-..s..I
drcd thousand dollars. The directors o,
each branch; collectively, shall own a,
least ono touth Of its capital stock
Each director shall take an oath that be
| will, 80 far as the duty devolvos on him.
diligently and honestly administer the af-
fairs Of the branch, and not knowingly
violate or willingly permit to be violalod
any Of the provisions Of this act: that hs
is bona fjo owner, in his own right, Of
the stock standing ia bis namo on the
books VI the branch, anl the same is nos
hypothecated, or in any way pleigod a.
security. ior any loan obtained OF dohs
owing: which oath, snhbciitoi By him
sell aud Certided by the officer before
whom II Is taken. shall De floi and care.
fully preserved in the Office Of the recorder
OF the county 10 which tho branch ia To-
catod' bOt no person shall be president Of
moro than one branch al the same time.
Soc. 80. Tho Stockholders collectively.
of any branch, shall at no time DO liabis
to such branch, either as principal, debt,
ors or sucties, or both, 10 an amount exs
ceedmg one-third part Of the capital
stock Of such branch, tho actually paid
ia, and remaining as capital stock; nor
shall the directors, collectively, DO so IL
able to an amount exceeding ono-thlfd
part of the stock actually paid in, stand
ing in their names, and OF which they
are, collectively, tho bona tide owners iu
their own right.
SEu 81 The directors Of any branch
iirst elected shall hold their places until
tho irst Monday In january next thero-
alter, ani until their successOrs shall bo
elected aud qualified; all subsequent cleo
tions shall be held anruly on the frsa
Monday Of January, aud tho directors 70
elected shall hold their places for QUE
year, aud until thoir successors are cleo
ted aud qualiGed; but any director ro-
moving from the State, or ceasing TO bo
tho owner Of tho requisite amount Of
stock, shall thereby vacat0 his place
Any vacancy in the board shall bo fill-
cd by Appointment by tho remaining dis
rectors; the director 50 appointed. shall
hold his place until the next annual cleo
ton: aud IT, lrom any cause, nn election
of directors shall not be made at the time
appointed, tho branch shall not for that
cause be dissolved, but an election may
be held ON any subsequent day, thirty
days notice thereof having been given in
a newspaper printed in the county where
the branch is located.
Sec 80. Every branch authorised 20
carry on the business of banking under
this act, shall DO held aud adjudged to BE-
a body corporate, with suggestion. for the
term OF twenty years nom tho date OF
tile certificate ofassociation, and thoreaf-
tor until its affairs shall DO closed; and
Gy its cooperate name shall la eoyaRelent
TO contract, prosecute aud defend actiona
Of every description as fully as natoral
persons, and process against such branch
may be served upon its president or cash.
ior, or 10y leaving copy thereof at its
usual business during the usual business
hours. Each Of said branches shall during
the term Of twenty years from the date
aforesaid, ii so long it shall comply with
the provisions Of this act, have powsi 10
loan money, buy. sell and discount bills
of exchange, notes, and all other written
evidences of,lebt, except such as il shall
be prohibited by this act from buying.
selling or discounting; rooeiv0 deposits;
buy and sell gold aud silver coin and
bullion; collect and pay over money, aud
transact all otler business properly ape
pertaining to banking, subject, however.
TO the provisions and restrictions con.
tanned IN this act may acquire hold and
convey such real estate as may be necess
sary To the convenient transaction of its
business, and no more; but may, howev-
or. acquire title to any roSl estate pledg-
ed TO secure any debt previously contract.
oil or purchased o an execution or or
der OF sale. TO satisfy any judgment or
decree in its favor, or which shall have
been conveyed to II in paymont Of any
previous debt, but shall not hold any n.
al estate so acquired longer than is neo-
essary to avoid loss Of any part Of the
debt, interests and costs. for the eOlloo.
ton or security ofwhiohit was acquired;
but atany time before selling the same,
upon being rendered by the last prceed-
ing owner, or his legal representatives.
such sum as shall be necessary to save
such branch from loss Of any part Of ths
debt, interest, taxes, costs, and other me-
cessary charges for the collection Or -:
curity Of which such real estate was a6i
quirsd, such branch shall release to naeh
owner, his legal Representatives Or AZ
signs, oil its right, tide and interest
therein.
Sec. 83, No branch shall. at any time
issue or have in circulation any noSe.
draft, bill ofexchange, acceptance corlii-
cate ofdeposit, or other evidence of dsbi
which. fi0m It's character or appearances.
shall be calculated or intended 10 oirsn-
late as money, other than snoh notesroi
circulation as are by this act deseriba'i
and which such branch IA by this act au-
thotized TO issuo for the pdrpas0 Of being
circulated as money.
Sec. "a. Each branch shall receive a
par at the offics OF banking house Of such
branch in payment Of debts die AZ such
hraneIes for nofaa az hand bills Of ex.