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


STATE one year ssst prssiOa. 70 thsIs elesions. d.
FsctOrs; each dirsetOf shall Obn "a lie o~p haa,s
and rght at Ieas, one per cent. o. the capital y
stock of Ire branch Up tostwo Hundred tkou1aI
dOllars Sud she f'a'f of one per cent on 4.
al Osst two hunlred thcussn,Ia dolIarSi The d.
ssctOn Of eseh brsheh, e,lIectiveIv, sisH own
lsast Onetenth Of It's enptaI stocE. Y ssh dirss.
tos sinai take ~ ostt ihat be viii, 3 aksf 4
duty deVOlves on him, diligently ana honesty ua -
minister Ibs aEirs of ihebtaDes. an,f alt know
ihgy viOIats Or vilIagly peraR tobsuOhtsB any IS
Of the provisions Of this set tiafb be Is q bona %
f6de owner, IN BIS own right Olsthe sock atsss1
ing 10 hsnahse On The books % tbe branch. ant p
thas the same IS SOt hJpOtbseAlea, ,of ia'afs way
pledged as security, for say loan S6tainel o. isbs
owing; wbisli oash, subsefibeI By hinsslf ami ~
certified BY The ohiear before wbons q i takeS, "a
shall be fled and carefully preserved in ths Office
Of the recorder Of the county in which tie bnnol,
IS located; bat 40 PsIsou shall be president Of
more than one branch at the same time.
See 80. The stockholders collectively. or any
branch, shah At nc SINE be liable 10 such branch.
either as principal, debtors or sareties. or bo,h
an amO'nt exceeding One-tIiird part Of the eapissi
stock Of sueb branch, than sctaaly paid 10, and re-
rnainiug as capital stock; nor shall the directors.
collectively, BE- 50 liable to al amount exceeding
ODethird part Of thsstOck actually paid IN, stand
ing in their names and OF which they are, eot.
ectiyely, the bona fde owners ia their owl light.
Sec. 81. The directors Of any branch frst
elected sha'l bold their places until the i.t Non
day in January next thereafter. and until their
successors shall be elected aud qualified; sITsaEse.
quenl election. shall be Eeld annually on the irA
Monday Of January, and The directors 50 electea
shall hold their places for one year, and
until their successors are elected and qualified;
but any director removing from tie State, OF
ceasing to be the oWuer, of the requisite amount
Of stock, shall thereby vscate hi. place. Any
vacancy in the board shall Be filed BY appoint
ment BY the remaining directors; the director
so appointed, shall hold bis place until the
next annual election; and ID from apy
cause, an election Of directors shall not be mado
at the time appointed the branch shall not for
that cause be dissolved, bu: an election may be
held on any subsequent DAY, thirty days notice
thereof having been given 10 . newspaper printed
in the county where The branch IS located.
Sec. 80. Every branch authorized to carry on
the business Of banking under this act, shall Be,
held and adjudged to be a body corporate, will.
succession, for the Term Of tweniy years from The,
date Of the certificate Of association. and theresl
ter until its affairs shall be closed; and Ly rs coz.
pOrae name shall be competent to contract, prose-
cute and defend actions Of every DESCRIPTION Ms
fully as natural persons and process against such
branch may be served upon its president or casl.-
Ter. or BY leaving copy thereof at its usual place
Of business during the usual business hours. Each
Of said branches SHALL during the term Of twenty
years from the date aforesaid, if so long it shall
comply With the provisions Of this act, have pow
er to loan money, buy, sell and discount bifsof
exchange, notes, and all other written eYideDcescf
debt except sueii as il shall be prohbited by thi.
act from buying, selling OF discounlinr receive
deposits; buy and sell gold and silver coin ,and
bullion; collect ar44 pay over money. and transact
all other business properly appertainiue to bank.
ing subject, however to the provisions and restre.
tions contained IN this act may acquire, holi an1
convey such real estate as may be necessary 10 The
convenient transaction Of its business, and no
more, but may. however. acquire title to any real
estate pledged to secure any debt previously Goa.
tracted or purchased on an execution or order of
sse to satisfy any judgment or decree in ii. favor
OF which shall have 6sen conveyed 10 il in pa--s
ment Of any previous debt, but shall not hold siy
real estate so acquired longer than is necessary 10
avoid loss Of any part Of the debt, interests and
costs for the collection security Of which il VIE
scquired; but at any time before selling the same
upon being rendered BY the last preceding owner
or bis legal representatives, such SUN as shalI'Be
necessary to save sueh branch from. loss of any
part Of the debt inteIest, taxes costs, and other
Necessary charges for the collection or security of
which such real estate was acquired, such branch
snail release to ssaehsownsr hs Iegd repnessraa-
tiyes OF assigns all his right title and inteuess
therein. 80 ssr-s
Sec 50. No branch shall. at any time, issue
or have in circulation any note. drai, billofex-
change acceptapee certificate Of deposit. or olh~r
evidence Of debt which, from iis character or air
pearance, shall be calculated inlen lei 70 ciicu
late as money other than such notes Of ciscsla
ton as are by this act described. and which such
branch is by this act authorzal 10 issue for tls
purpose Of being circulated as money.
i
Sec. 81. Each branch shall receive at par at
the office or banking house of such branch in pay
ment Of debts due at such btsnches for noles IL