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


Section I.,Bs e enacted by1ks General AsSom.
Uyef be Ssais efohio. That the Bank of ohio
be and the same IS hereby incorporated with all
the powers bereipa0sr grauted, and by lhai name
shall be capable Of contracting, aud Of prosecuting
and defending sctions as fully as natural persons
and ofdoihg al ether acts necessary 70 effect the
objects SoptemPIaed 10 this act BY the creation Of
ssAa ee'psFetiop. H sc.1 si .as., ss.i... a.Il
Sc. ;. That Is soon as Eve OF moro branches
Of the Bank Of Ohio shall be organized, as in this
act ctisauthOrzed, the directors Of the Bank Of Ohio,
appointed by such branches shall meet in the city
Of Columbus at such time IS shall be designated
hy the board Of bank commissioner who shall
give ten days previous notice to each branch of
the time Of such meeting, and provided two-thrds
of the whole number Of such directors shall be
convened, they shall organize by takirg an oath,
diligently, faithfully aud impartiaIy to perform
the duties imposed upon them by this act, GER
tiieals Of which oath, signed by each director,
shall be filed and preserved in the Office Of the
secretary of State, and by slectng some suitable
person as president who shall preside at the NEE
tings Of the board and sign its official documents;
and there afterthe directory Of the bank of Ohio
shall be composed Of one director appointed by
each branch Of said bank, :wo.thirds Of whom
shall be quorum.
j
Sec 8. The directors shall, when they deom it
necessary, elect aVice president, whose duties shall
be prescribed by the bylaws. They shall appoint
a secretary who shall keep fair and true rcord
of the proceedings of the bank. They shall keep
an office 10 the city Of Columbus, which, together
with theil books papers, records and accounts Of
every description, shall at all times be open to the
inspection Of airy committee Of the General As
sembly, or either branch thereof, and of any COM
mission9Or commissioners especially appointed
for that purpose by the General assembly, or Ell
ther branch thereof. They shall procure and fur
nsh each branch with notes for circulation, and
decide on the amount to be furnished from time
time to each, within the limits and agreeably to
the rules and restrictions prescribed by this act
They may prescribe rules for the settlement of
balances between the branches revise their bylaws
and regulations concerning charges for making
collections, and cause both to be made uniform, or
as nearly 50 as may be expedient. They shall
have power, by themselves, or by committee OF
one OF more members Of their own body, or by a
special agent sppOistsd BY them for that purpose,
whenever, and as often as they shall think proper
to visit any branch inspect its books, records and
accounts and all the evidences of debt due to, and
securities held by such branch; examine and as
certain the amount of money and other property
held BY such branch, examine on oath the presi-
dent vice president directors cashier, and all 9th
ercicers, agents. clerks, or servants of the branch
touching its condition. means and liabilities
They shall have power to require any branch to
Ieduee It's circulation or other liabilities, within
such limits as they shall, after ful inquiry into its
condition, deem necessary to secure from loss Ell
ther The dealers with such branch, or the other
branches Of the bank Of Ohio. They shall as
soon after The first Monday of every month as
practicable. publish 10 some newspaper printed at
Columbus, consolidated abstract Of The monthly
reports of ell the branches, showing their assets,
liabilities and condition, which statements shall
be recorded in book or books to be kept for
that purpose. They may appoint an executive
committee of not less than three Of whom the
president OF vice president shall be one, to act in
behalf Of the bank in all such cases, as shall be
prescribed by the bylaws Of said bank, not incon
aistent with thisact.
Sec. 4. Thepresident, vice president secretary,
and all other officers or 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 ratio of their capital stock. The bank may
also allow the executive committee such compen-
saton Is h shall deem just and reasonable, to be
paid BY the several branches in The same manner;
and the expenses Of procuring plats and printing
notes Of shall be paid by the several branches, in
the ratio Of the notes Of circulation, received by
each.
Sec. 8. Each director of the bank shall contin-
usin Office until the first Monday ofFebruary, next
after bis appointment, and until bis successor shall
be appointed and qualified, vacancies in the board
q - T.. n
shall be filed by the branch BY which the ap-
ponsment vscated was made. In voting each
member shall be entitled to two votes, and to one
additional vote for every fifty thousand dollars Of
the amount Of capital stock paid into the branch
represented by him over ops hundred thousand
dollars, at the time Of such voting. The presi
dent aud vice president of the bank shall hold
their Offices for one year, and until their success.
sors shall be appointed, but they may be removed
by resolution fthe board. They and all other
officers and agents Of the bank shall take All oath