The weekly Portage sentinel. [volume] (Ravenna, Ohio) 1854-1861, 1857-09-10
L Avs OF OHIO.
ia PUB. LEHED BY AUTHORITY.
=, - u r-
INo. 1871 AN ACT,
To omeg rporat e the Bank ofOhio and Branch.

SEcr ION l. Be il enacted by The Geners
AsssmSly Of the Stale of Ohio, That tn
Bank of Ohio be and the same is hereby in
corPorated with all the powers hereinafte
granted. and by that name shall be capabl
Of contracting, and of prosecuting and de
Sendimg actions as fully as natural persons
and of doing all other acts necessary to ell
feet the objects contemplated in this act b
the creation of said corporation.
SEC. 2. That as soon as five or NOR
branches of the Bank of Ohio shall be or
ganized, as in this act is authorized, the direc
sors of the Bank of Ohio, appointed bv sucl
branches, shall meet in the city of Colum
bus at such time as s'e:aall be designated By
the board Of bank commissioners, who shaI
give ten days. previous notice to each brancl
OF the time ofsuch Getting, and provided two
thirds of the whole number of such directors
shall be convened, they shall organize by Ia.
king an oath, diligently, faithfully andimpar.
tally to perform the duties imposed upou
them by this act, certificate of which oath
si5ned by each director, ehall be filed and pre-.
served in the Office Of the Secretary of State,
and by electing some suitable person as pres
ldent, who shall preside at the meetings OF
the board and sign its official documents: and
therGefter the directory of the Bank OF Ohio
shall bS cof-'nosed of one director appointed
by each branch Of said bank, two thirds Of
whom shall be a quorum.
Sec. 8. The directors shall when they
deem it necessary, elect vice president,
whose duties shall be prescribed by the by
laws. They shall appoint a secretary who
shall keep fair and true record of the pro-
ceedings of the b0nk. They shall keep en-
Office in the city of Columbus, which, to-
gether with their books, papers records, and
accounts of every description, shall at all
times be open to the inspection Of any com.
mittee of the General Assembly, or either
btanch thereof, and of any commissioner or
commissioners specially appointed for thaf
purpose by the General Assembly, Or either
branch thereof. They shall procure and fur.
nish each branch with notes for circulation,
and decide on the amount t. be furnished from
time to time 10 each, within the limits and
agreeably to the rules and restrictions pre-
scribed by this act. They may prescribe
rules for the settlement OF balances between
the branches, revise their bylaws and regu.
latons concerning charges for making col
lections, and cause both to be made uni.
form, or as nearly so as may be eXpedi-
ent. They shall have power, by themselves,
or by O committee of one or more members
Of their own body, or by special agent ap-
pointed by them for that purpose, whenever,
and as often as they shull think proper, to
visit any branch, inspect It's books, records,
and accounts, and all the evidences of debt
.l.,o hal Nv rb bro oh
examine and ascertain the. amount OF money
and other property held by such branch;
examine en- oath, the president, vice presi-
dent, directors, cashier, ard oil other officers,
agents, clerks, or servants Of the branch,
touching it's condition, means and Liabilities.
They shall have power to require any branch
to reduce its circulation or uthr liabilities
within such limits as they shall, utter full III
'quiry into its condition, deem necessary to
secure from loss either the dealers with such
branch. or the other branches Of the Bank OF
Ohio. They shall, rs soon after the first
Monday of every month us practicable, pub
lish in some newspaper printed ot Columbus,
q consolidated abstract of the monthly re-
ports of all the branches, showing their as
sets, liabilities and condition, which state
,
to be kept for that purpose. They may np-
point ON executive committee of not less than
three, of whom the president of vice presi- |
dent shall be one, to act in behalf of the |
bank in all'such cases, as shall be prescribed
by the bylaws ofsaid bank, not inconsistent
with this act.
SEC. 4. The president, vice president,
secretary, and all other officers or agents of
the bank shall each receive such cempensa-
ton for their services as said bank shall al
low, which shall be assessed upon the sever
tic OF their capital stock. The bank may al
30 allow the executive committee such com
pensation as it shall deem just aud ressona-
Bile, TO be paid by the several branches in the
same manner; and the expenses Of procu-
ring plates and printed notes Of circulation
shall be paid by the several branches, in the
fdtio of the notes Of circulation, received b.
each.
Sec 5. Each director of the bank shall
continue in office until the first Monday Of
February, next after his appointment, and
until his successor shall be appointed and
qualified, vacancies in the board shall be fill.
ed by the branch by which the appointment
vacated was made. In voting, each mem,
Der shall be entitled to two votes, and to
Dne additional vote for every fifty thoueond
dollars of the amount of capital stock paid in
10 the branch represented by him over one
hundred thousand dollars, at the time of such
Toting. The president and vice president of
The bank shall hold their Offices for one year,
Bnd until their successors shall be appointed,
,ut they may be removed by a resolution of
me board, ThGy pnd all other officers and
ohEAts of the bank shall take an oath faith.
FTlg, diligently ard impartially to fulfil the
duties OF their appointments and rot know
Ingly violate. any of the provisions of this
act. They may be required TO give bond in
such sum, and with such securities as the1
bank shall prescribe; and all vacancies in
raid appointments shall be filled by the
bank. al
SEC. 6. All notes designed for circulation
by the branches, shall be furnished bv the
Bank OF Ohio, but no such notes shall be de.
livered to any branch until they are number.
ID and countersigned by some person or per-
sons authorized to ntersign the same as
'egister, and full Il ord Of such numbering
Ind countersigning .ade in book providedJ
for that purpose, and all such notes shall
have stamped or printed on their face, the
words "Registered by the Bank of Ohio."-
All notes so worn, defaced or mutilated, as to
be unfit for circulation, shall be returned by
lhe branch by which they were issued to the
bank, and an equal amount of new notes re.
ceived therefor; all such notes 80 returned
ohnn In Ill |