The Wyandot pioneer. (Upper Sandusky, Ohio) 1853-1868, 1857-10-08

SshY os The ethcerss agents or servants uf
such brunch 10 violate aty of The prpyi
sions 81 this acl. all The rights. priviie- -es
and franchises % such branch shall there
byzinffeitut, ,Sacig .rioiati0na si.alt however,
b. des, lmned ana aiodged by Il court Of
competent jufjs5icilou, agrceably to TIE
laws OF t!is Stale and The practice Of such
court, before the cofperation shalt be de
clarel dissolged; ana ia ease OF such VIZ
ulation, every director who participated ia.
Or assen.ed to the same, shall be held LA
able in bis. personal and individual capae
ity Tor all damages which the branch, its
or any other persons. body
polite or corporate. shall have sustained
ia cln.equence ofsuch viola i'm.
SEC. II. Every president. direct. +,
cashier. teller, clerk or agent OF any
branch, wha shall embe zzie. abstract. or
wililuliy misapply any of the moneys
funds or credits OF such branch, or shall,
without authority from the directors, issue
or rn. in circulation any OF the notes OF
such branch, or shall. without such au.
lhority, issue or putforth any certificate
Of dc tposit, draw any order or bill of ex-
change, make any acceptance, sign any
uote bond, draft, bill of exchange, mort
gage, or otLer Instrument of writing. or
Shall make any false entry on any book.
report or statement OF the branch, with
an intent in either case TO injure or defraul
such branch; or inlure OF defraud any
other company, body corporate or polite.
or any idWiduaI person, ,r TO deceive any
officer or agent appanted to inspect the
affairs of any branch. Shall be deemrd
guilty of q misdemeanor, and upon con
viction thereof, shall be confined in the
Penitentiary at hard labor. not |. SIS than
one nor more than ten years.
SEQ 45. Stockholders in branches
Shall each be individual and seyerally Ii
able to the CT, ditors of the branch Of which
they are siockhol 'ers, in a sum -qual in
amount 10 the stock owned ~ eacIl. and
should any such branch become insolvent
and it assets be found insufficient to paw
is debts and liabilities. lis stockholders
may be compelled to pay suck deficiency;
in proportion 70 the amnunt OF S'ock own
ed bYea-hil, and should the who'e anount
for which Stockholders arr inllyi fu4iIy
re ponsible, and provided in this section,
be found in any case 10 be inas!sqnate to
the payment OF all the re,iiues of the
debts Of any branch after The application
OF its assets to the payment Of such debts
then, the moneys due from stockholders
on account OF their individually Liabilities
as such, shall bed distribute equ slty 4
mong all the creditors Of such branoh. il
) proportion to the amount due 10 each. The
personal liability in this section provided
ifor, is over and above the stock owned bv
! stockholders, and any amount unpaid
thereon.
SEC. 4e. The general assembly may
alter or repeal This act at pleasure but no
act altering or repeating this act. shall i'm
pose any Injustice or wrong upou lnr
stockholders of any branch.
SEC ~ Every branch shall have
power to make all necessary and proret
by laws for the management and conlrol
Of its bu mess, add TO fix and regulate the
.Iraie Of charges for making collections.
subject to be controlled therein by The
B4.'k of Ohio.
SEC. 48. No branch shall issue anv
notes intended for circulation as money
except the notes furnished for that purpose
by the Bank Of Ohio. and all such notes
shall be payable at the branch by which
they are issued, in gold and silver coin
the lawful currency of the United States
or either, at the option OF the branch. on
| demand; they Shall be signed by liie pres
Iident or tho vice president Of the propel
branch, and countersigned by the cashier
thereof. made payable 10 bearer, and shal
be negotiable by delivery; all other eA i
dences Of debt. issued BY any branch
J shall be negotiable OF. Transferable in lh,
same manner as if issued by a natura
person, aud shall be ebinding On the branch
r whether under seal or not. and all sucl
! evidences Of debt, other notes of circula
! !, lion. ehail be payable to the ordr1 OF soon
r person sherein + rsrned.
! SEC. 40. Ii,e branches shall coninu
to exist Sc. long as necessary for the set le
ment OF their affairs, notwithstanding ih
Irepeal of this act; and no law shall eve
! be passed diyerting or appropriating ih
fsoSfNo " an y oNciit u ahSh<to hit puf.yttS
] other than the payment of its debts an
! liabiliti $, and the distribution of tile res
idue among its ste ckbolders in preporiio
TO the stock by them severalIy owned.
: BANK COMMISSIONERS.
Sec SO. TO carry into effect the pro
visions Of tltis act, VIM. w. Scarho.oug
+ OF Cincinnati, Franklin T. Baclus. I
Cleveland. lockng ii. Hunter, of Ian
caster. J. r. FINN. OF C5lambus. an
ESamuyl Forrer, OF Dayton, shall be az
they are hereby appointed coiumi. sloner.
f and they ora majority OF them alter "a
king an oath diligently, faithful AMI ia
partially to periorm the. duscs assiguo
them by tits act, certificate ot waicl
! oath shall be filed and cafyiallg preserve
lin the office Of the secretary ii ), ,.te ,sha
], cons titute a board to be d5sigi.aled IL
4 board OF bank commissioners; WITCH, b AR
shall continue until the orsanza ,
the Bank OF Ohio, as herein pros ifir8 20
: and thereafter, the duties wh.c.i they Al
? required 70 perform by this act, 81 Ii
= performed by said bank; aud ii ans
said commissioners shallrefusee 10 .r>
sFail die or resign, his place shall be hIiiy
orl by the governor.
y Said commissioners shall meet in Il
e Ecity Of Columbus, at such tune, with
. ,L, da, tt. -. 4. :,