Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1857-11-27

section fifty Of an act entitled " an act to
authorize the business of banking"
approved November IL, 1851, into the
hands OF the receiver OF such bank.
Sec. 2. On application of the treasurer
or any .rson in interest in such bank, the
chancellor shall have power to order the
securities IN the treasurer's hands
into the recei ers hands, on his
fling With the treasurer u god and
sufficient bond, in such sum as the chan
celior shall order, to the acceptance Of such
treasurer or chancellor, and to order the
application of the proceeds Of such securi-
ties according to law.
SEC. 3. Whenever any banking as.ocia-
ton, organized under the general banking
law, shall be closed, either by tho vUluuta-
~ act OF tho association or by operation Vi
law, and when any association partly Oh
ganized shall abanton or fail to complete
the same, the treasurer and secretary vi
State are harJDy empow red and directed to
destroy all such biz 4 wueo redeem d and
the sheets, blank notes aud plates OF such
organized or unorganized association.
SEC. 4. This act snail take effect from
its p ,ssago.
Approved, November 10, 1857.
No Am ACT in amendment Of an
business OF banking approved NJvem.
Der II, 1851.
ms hereby enacted, &c.
SEC. |. In Case tue maker Of any cir
culating note or notes, countersigned aud
registered as specified In cti,n tour Of an
act entitled IAN act to author 70 the bust
ness OF banking, approved November II,
1851, shall ut uny time hereafter, when
payment thereof snail be demanded during
the usual hours o. business, between the
hours OF ten and three o'clock, at the place
where such note or notes is or are payable,
TAIL or refuse to redeem such note or notes
in the lawful money of the United STATES,
the holder ot such note or notes making
such demand may lodge the said note or
notes, accompanied with his aft tavit that
such demand had been made and payment
refused as aforesaid, with the treasurer OF
the State and on receiving such note or
! notes and afh lavit, the treasurer shall pro-
coed In the same manner as is now provided
In said act in cases where protests are filed
with such treasurer.
SEC. z. So mucn OF said section four al
requires such nvte or notes to be protested
tor non payment is hereby repealed.
SEC. 8. Ibis act shall take effect from
its passage.
Approved, October %, 1857.
No. 45.-AN ACT in u iditiun to and in
amen men OF chapter eighty-iOur OF the
complied sta utes, in relation to banks
Hn hereby enacted, dc.
Sec. /. The bank commissioner shall, at
the time OF inspecting the afflirs of the
banks In this State, as provided in chapter
eighty-four OF the compiled statutes, as
certain the amount OF loans in each year,
by each OF the banks in this State, to indi-
vidusls residirg and corporations AMI COM
panies located and transacting business
without this State /; and a statement OF the
mount of such loans. and the State or
States in which such individuals, CORPORA
tions and companies reside or are locate
shall he made in the annual report of said
commissioner.
Sec. 2 This act shall take effect from
It's passage.
Approved, November 10, 1851.
No. 46.-AN ACT in addition TO chapter
eighty four of the compiled statutes, re
latinu to banks.
IL Is hereby enacted DC,
Sec. l. IL shall be the duty OF the bank
commissioner annually during the month,
OF January and February. to ascertain
whether there are any banks in this state
whose directors have not giver the bond
required by sections ftty-seven and eighty
seven of chapter Sighty-iour of the com
piled statutes, and upon ascertaining that
there are such, il shall be the duty Of said
commissioner to file with all such hanks
written order. therein requiring the
directors OF such banks to procure bonds
ngreeably to the provisions OF sad sections
fity-seven and eigh'y seven within
certain time to be fixed in said order, not
exec ding sixty days.
Sec 2. II any director or directors
shall tail 10 comply vita said order, his or
thoir said Office shall so far become vacant
as to authorize and require the remaining
portion Of said board OF directors within
ten days to fill said vacancy and duiy
certify the same to the Commissioner. aud il
said board OF directors shall TAIL to fill sand
vacancy and to have the n cessary bond or
fonds furnished to said comm siuner
within ten days, it shall be the duty of
said commissioner to proceed against said
bank as an insOlvent bank and such
neglect to furnish id bond or bonds shall
be deemed an act Of insolvency on the part
OF such bank.
Sec. 3. No bank shall hereafter issue
bills or commence business as such until
the bonds shall first have been ,xecuted
sgreeably to sections ffty-seven and eighty.
seven OF chapter eighty -four Of the com
piled statutes.
SEQ. 4 The bank fund" already accu
mu ated, or which may accumulate, shall
remain liatl.. agreea blv to the provisions OF
chapter eighty-four Of the compiled stat
utes, until all OF the banks Of this State
shall have complied with the provisions oil
section one OF this set, OF until such banks
as do not comply with said section one have
hAan mr., daH
agreeably to section two of this act and the |
provisions Of chapter eightv-four of the |
compiled statutes.
SEQ S. II anything remains of said |
bank fund after oil the provisions of this
set and OF said chapter eighty-iour are COM
Piled with. the same shall DO disposed Of |
sgreeably TO the provisions of said cha pter
eighty four OF the compiled statutes.
Approved, November 10. 1857.
No. 47.-AN ACT TO increase the Salaries
Of the Governor and Treasurer of the
State.
IL is hereby snaets3, DC.
Geo. /. Tue annual salary Of the cover.
nor Of this state shall be one thousand dol
lars
see 2. The annual salary of the treasu.
rer OF this State shall be five hundred dol.
lars.
Sec. 3. All acts and parts Of acts ncon-
sistent with the provisions OF this act are
hereby repealed.
Sec. 4. This .act shall take effect from its
passage.
Approved November 10, 1857.
No, 4s.-AN ACT respecting guardians
and wards.
u ishsreby enacted, Sc.
Sec. |. Whenever minor children shall
Inherit real or personal estate, as the re-
of their deceased mother, and
The father OF such children shall, as guar
iian, have the custody OF their person and
estate, such father, II the probate court So
lirect, shall be required to furnish IL bond
10 respond and y tho principal of such
state only and the income OF such estate
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