Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1857-05-14

late aay Of the provisions OFAsast all tho rights
PdvsAzss aaA fsnshasss Of pdh bnuch shall
tbsnay b sreiedi sues yiO.dde sfAll. hOwev-
er be desrminsd and sdadged By court Of con-
ps.spt nhdcton, sgre&bly to lle laws Of this
State "a the ftactiee n such sohr before the
corporation shall be declared dissolved and in
cass Of such violation, etsry director who p~artici-
Gpatsd in, or aseoledtolb h same, shall be liable IN
Bis personal aud individual capacity Tor all dapa-
ges which the branch, is Shareholders, OF any other
persons. body polite or corporate sLsIi have have
sustained 10 consequences Of such vioatiOn.
So. "A. lE@4 pt@asat daectos 4
teller, clerk or agent Of any branch, embezzle, alb
sEacL OK w%ilfally misppPly any Of the mOusYs
funds or credits 81 such branch, or shdl, without
authority from the directors issue Or put iR, ciyeu.0
atOn suy ofthe notes II such branch, Or shall
without such authority, issue Or put forth any GER
tifcaie Of deposit, draw any order or bill Of eY
change, make any acceptance, sign aRg ste, bond
dnfs bill Of exchange HOrtgges or other iRstr1,
meut Of writing or shall make apy false entry on
any book, report Or statement Of the branch, with
an iniepti in either case 70 injuFe Or dsiragd such
branch, or 70 iRjue or dsfrAud any other sompar
ny, body corporate Or polite Or any indigidual
person. or 70 deceive any officer or agent APP
pointed to inspect the Affairs Of any branch,
shall be deemed guiltyOfs misdemeanOE and
upon copyietiOp thereof, shall be confined in the.
Pauitentiary at bard lsbGnoi less than one nor
more than ten years. o aa sasI 81 Of esf died
Sec. As. Stockholders il branches, shall each
be individually and s~eversIly liable TO the, Gedi-
tors Of the branch Of which they are stockholders,
n a SUN equal 10 amount to the stock owned BY
each, and should any such branch become insot
vent, aud It's assets be found insufficient 10 pay is
debts and liabilities, lis stockholders may be com.
PEELED to pay such deficiency, in proportion to the
amount Of stock owned by each, and should thu
whole amount for which stockholders are individ
ually responsible, as provided in this section, b
found 10 any case to be- inadequate to the pay
ment of aIlthe residue ofthe debts Of any brancl
after the application Of its assets to the the pay
: ment Of such debts, then, the moneys due from
" stockholders on account Of their individual liabil
tiles as such, shall be distributed equally among
. all the creditors Of such branch, 10 proportion t
the amount due to each; the personal liability
"" III this section provided for, is over and above til,
stock owned by s.OckhOlders, and any amouOtun
paid theron l~ i@ d
N Sec. 46. The general assembly may alter o
!. repeallhis act at pleasure but no act altering o
I repeating this act, shall impose any injustice o
! wrong upon the STOCKHOLDERS of any branch.
|. Sec. Al Every branch shall have power I
: make all necessary and proper bylaws for III
& management and control Of is business, and I
/, fix and regulate the rate of charges for maxim,
/. collections, subject to be controlled therein by III
I; Bank of Ohio. a.la -.g. .a Na "a taA -
Sec. 40. No branch shall issue any notes IL
tended for circulation as money, except the not
- furnished for that purpose by the Bank Of Obi
Of and all such notes shall be payable at the branc
II by which they are issued, in gold and silver col
the kawful currency Of the United States, or eithe
., Of The option Of tho branch, on demand; the
of shall be signed by the president or vice presidel
- Of the proper branch, and countersigued b
:, the cashier thereof made payable 10 beaFe
and slMll be negotiable by delivery; allaotl
e. evidences Of debt, Issued by any abrahcl
!. shall be negotiable or transferable in III sam
N manner as if issued by a%natual person, and sha
be binding on the branch, whether under set {
:. not, and ell such evidences. Of debt, other tina
Il notes Of circulation, shall be paya ,le tothe ordc
Of some person therein named. la.nm lm E
See. 40! The branches shall continue TO ext
90 long as necessary for the settlement of the
affairs. notwithstanding the repeal of this act; an
no law shall ever bepassed diyertiug or appropr
i. ting the assets Of any such branch to any purpot
other than. to the payment Of is debts and lab
/ ties distribution Of the residue among is stockho
= ders in prOportiOu 10 the stock by them several
owned. a. @ .as 40 m a5g
BANK COMMISSIONERS.
DO Sec. so. To carry into effect the provisions
this act, VIM, w, Scarborough, Of Cincinnati
st Franklin I. Bsckus Of Cleveland, Hooking I
Of Hunter, Of Lancaster. J. r, Finn, of COlunbu
H. and Samuel Forrer, Of Dayton, shall be and the
pit ere hereby appointed Commissioners, and they, {
a majority OF them, after taking an oath diligen
~. ly faithfully and impartially 10 perform The duti,
X. assigned them by this act ! certificate Of whic
oath shall be FLED and carefully preserved 10 ii
Office Ofthe secretary Of state. shall constituts
y board to be designated the board Of bank con
an missioners, which board shall continue until II
or organization Of the bank Of Ohio, as herein pr
nd vided for, and thereafter, the duties which the
= are required to perform BY this act. shall be
rs EeruaA kv saiI hank. and IL anv Of saiJ oo,,,,;