The Tiffin tribune. [volume] (Tiffin, Ohio) 1848-1859, 1857-10-09

gudeeuuug ~ notes IN gold and silver, nor apv
notes issued by any bank out OF this State
Ahnotcs, bills, aud other evidences Of dcht.
excepting bills OF exchange, discounted hy apv
, orcnch, shall be made by the terms thereof or by
special indorsomcnt, payable solely 20 suohbancl',
and no such evidence OF debt shall bo assinnablt
except Tor collection, or l0r tie following purpos.
cs;
iist-Topay aud redeem the circulating notes
Z Of such hmnclii
second-Topay other liabilities ofsueh banoi,
and alter such liabilities shalhayc been dscharg.
!. 'rblrl--To divide among ,bc shareholders On
their stock.
No branch, Shall issuc amy certificate Of dcpos.
t orlcr, draft bill of exchange, OF other evidence
OF debt, payable iu currency or ih anything lcss
valuable than gold and silver coin, except receipts
for special dcp0sitsi nor shall amy such brunch
keep any accounts IN currency Or in ANYTHING less
valuable than guld and silver coin, except ac
counts Of special dcposiis
No branch, shall be permitted, IN receiving
payment at Us banking huuso or othcr place than
whore the same was payable, OF auy note, bin or
Oihor evidence Of dCbt duo to such brunch, and
payable at place other than its banking house,
10 receive In addition 20 tho amount uf such debt
aud the legal interest due thereon, any sum what
soevcr os memum exchange or damagcs, Pro.
vidcd, Nothing Ia thssection contained shall pre.
vent such branch irOm receiving ttc damages M.
lowed 10y law upon any bona hdc bill of exchange,
duly protested dlornou.aoccptnncc or non pay mcnt
see l2. Az lnnsicrs Of notes, bonds, bills Of
exchange, ard other evidence of debt owing TO
any branch, on Of deposits 60 its crediti All assign
mUnts OF mortgages or other securities ON real es-
mtc, or ofiudgcmcnts or dccrcos IN its favor; an
dcposits OF money, bullion or other valuable thing
for its use, on Tor the use 0fpaymcnts OF money to
either, made after the commission Of act of Ia.
solyency, or IN contemplation thereof, With view
to tie preference Of one creditor to another, ex.
cept in payment ofia circulating notes. shall be
held uttcrlynull and void
Sec. a. II the directors Of any branch shall
knowingly violate or knowingly permit ANY ofthe
, officers, agents or servants of such branch 10 VIC.
late amy OF the provisions Of this act all thcrrs
privileges and iranchlsos of such branch shall
4 thereby bo iorleiicdi such violation shall, how
4 ever, be determined and adjndgud by a court OF
G competent Jurisdiction, agrecahly TO the laws Of
g this State and the practice of such court, bafore
the corporation shall be declared Dissolved; and ia
# case OF such violation, every director who part
If citpatcdm, asscntcd TO the same, shall be held
If liable In his personal and individual capacity for
II all damages which the bmnch It's shareholders or
any othor persons, body polite or corporate shall
have sustained in consequence OF such violation.
g SEQ. a.. Every president, director, cashier
i teller clerk or agent of any branch, who shall
), cmbezzle, abstract, or willmlly misapply any ol
: the moneys, funds or credits of such branch, ni
/, shall, without authority from the directors, issue
r. or put in circulation any Of the notes of such
branch, or shall, without authority, issue or pu
a forth any certificate OF deposit draw any order o
s. bill Of exchange, make any acceptance, sign any
4, notc bond, dln1, bill of exchange, mortgage, o
other instrument OF writing or shall make any
It false entry on any hook, report or statement o
n the branch, with an intent n other case ~ inurr
" or doiiaud such branch, on TO iniure or delrai,
any other company, body corpouile or politi" q
" any individual person. or 70 deceive any oiiecs
10 agent appointed toinspect the affairs Ofany branch
d shall be deemed guilty ofa dsdcmcanor, aud up
on conviction thereof, shall be confined In thl
N Pcuilcntiury at hard labor, not less thallr 400
c more than ten years.
,ol See. As. Stockholders in branches, shnilcd
,e be individually and scyeullly liable to the credit
X, ors of the branch Of which they are stoekhodor
II In sum equal In amount 10 the stock Ownedb
each, and should any such branch become insOl,
Ia, cnt, and assets be found insufficient 10 pay I
ed debts and liabilities, lis stockholders may be con
lr PEELED TO pay such deficiency, In proportions 10 III
m. amount of stock owned by caCh and should III
nd whole amount OF stock owned by each, aud shoul
the whole amount for which stockholders are II
n dyidually responsible as provided In the section
Oh be found In any case TO be inadequate 10 the pay
ment ofall the residue Ofthc debts OF any branc
m after the application Of It's assets TO the paymor
OF such debts, then the moneys due from stock
of holders ON account Of their Individual liabiitc
ns such, shall be distributed equally among MI In
os creditors of such branch. In proportion TO th
g. amount due TO eaohi the personal liability In th
cs section provided for, Is over and above the stoc
IA. owned by stockholders, aud any amount unpai
thereon.
to Sec. 4G. Tho general assembly may alter or rC
g. peal this act at pleasure, but no act altering rC
cs penlaig this act, shall impose any Injustice 0
a. wrong upon the stockholders OF auy branch.
h Sec. AZ. Every branch shall have power I
h. make all necessary and proper bylaws for III
management and control Of Us business, and
lg fix aud regulate the rate of charges for makin
N collections, subject TO be controlled therein by lh
L. Bank of Ohio.
Sec A. NObranch shall issue any notes intend
n ed for circulation rs money, except the notes fuI
IN nshed for that purpose by the Bank OF ONO, an
b. oil such notes shall be payable at the branch b
which they are issued, in gold and silver coin, Oh
@. lawful currency Of the United States, or eithe
or ut the option OF the branch, ON demands they sha
IL be signed by the president or president OF Oh
IL proper branch, and cOuntersigned by the cashi'
or thereof made payable 10 bearer, and shall be NJ
an gotablo by delivery; all other evidences OF deb
k issued by any branch, shall be negotiable or trn
ON ferabe In tho same manner as III Issued by nn
AZ ural pers0u, and shall be binding on the brancl
M whethcrunde seal or not, and all such evidence
y. of debt, other than notes OF circulation, shall
payable to the order OF some person therein nan
SO cd
te See. 49, The branches shall continue % exhi
oh 50 long as necessary for the settlement ofthera
ell fairs, Notwithstanding the repeal of this ncti "a
gh no law shall ever be passed dyertlng or appropr
IL, ating the assets ofany such braach to any pu
th pose other than 10 the payment of it debts and
SO abilities and the Distribution Of the residue anon
e- It's stockholders in proportion 10 tho stock
SO them soyenlly owned.
lr- BANK C0MMissioNKRs.
n- See. SO. To carry into effect the provisions
oh this act, VIM w. Scarborough, Of CinclnnQl
an Franklin r. Baclus, OF Cleveland, Hooking !
X Hunter, Of Lancaster, ]. r, Finn, Of Columhl
be and samuel Forror, Of Dayton, shall be and the
ut are hereby appointed commissioners and they,
o. majority Of them after taking an oath diligen
ne ly faithfully and impartially 10 perform the duti'
ny assigned them by this act, certificate OF whie
an oath shall be fled and eanially preserved IN q
oil office of the Secretary Of State, shalt constitute
an hoard 10 be designated board OF bank conini
,es sioners, which board shall continue until the 0
ranization ofthe Bank of Ohio, asherein provide
or 6r, and thereafter, the duties which they are .
les qiired TO perform by this act, shall be perlorm'
as 6y said bank; and if any Of said commissions
* shall refdse 70 serve, shall die or resign, his pa'
no shall be filled by the Governor,
oh Said Commissioners shall meet in the city
'e- Columbus, ut such time, within thirty days ait