Quasqueton guardian. (Quasqueton, Buchanan County, Iowa) 1856-1858, 1858-05-06
QUAsQUET0N BUCHANAN COUNTY IOWA. THURSDAY MAY 1853

| branch to reduce It's clrculatlon or othel
liabilities, or provide larger amount o
specie or other means, or to pay in It's
stock, or to do, or TO cause to be done
any other matter or thing which said
bank may deem necessary for the secu-
rity of such branch, or any other branch
or branches, said bank or any director
thereof, acting for said bank, may apply
to any Judge of the Supreme Court oil
District Court, or any judge of a superior
court, or to any Judge ofany other court
not inferior to the District Court, by pe-
tition, in which the State Bank of Iowa
shall be made petitioner. and the branch
implicated defendant, sstting forth the
substance of such order or orders, and
such neglect or refusal on the part of the
branch its officers or agents, to comply
Herewith and if the President, Vice
President, or any director of the bank,
shall make affidavit of the truth of the
facts therein stated, it shall be the duty
of such Judge to allow an injunction, and
to enioin such branch, its officers and
agents, and all others In us employ, oil
connected Herewith, from doing or suff-
ering, or permitting to be done, any busi-
ness whatever as bank, and from inter
meddling with, or in any manner dispo-
sing OF, the books, papers, moneys, cho-
ses IN action, assets or property of the
branch, until the further order of the
Supreme Court as soon as an injunction
is allowed.
Sl7. Upon the allowance of such in
junction, the property, credits, sureties,
liens and assets of every description, OF
such branch, shall forthwith vest in the
State Bank of Iowa, who shall appoint
a receiver to take possession of the same
as provided in the eleventh section of this
act. A certificate of appointment of such
receiver, by the judge or court, or clerk
thereof, making the same, shall be sufi
cient authority to him to take possession
of the books, property and rights of ev-
cry description of such branch, and shall
be full authority to the sheriff cf the
county where the branch is located, to
take and give full possession of such
books, property and rights, with the aid
of the county, if required and said bank
receiver shall be governed by the prcvis
ions of this act as provided in cases OF
suspension: and upon the dissolution oi
snch injunction, or dscontinuance OF
such suit by the Bank, all the rights and
property of such branch shall be restored
to and vest in such branch.
l8. Natural persons, not less in num-
Der than five, may associate and form
branches of the State Bank of Iowa, for
the purpose of carrying on the business
of banking, each at such place in the
State as shall be designated in the certi-
ficate hereinafter required to be made,
subject to the contingencies, restrictions,
condition and liabilities prescribed in this
act.
5 10. Persons associating to form branch
Shall, under their hands and seals, make
a certificate, which shall specify:
First, The name assumed by such
branch, and by which it shall be known
in its dealings, in which name shall be
included the name of the city, village or
town in which its banking operation shall
be carried on.
Second, The amount of The capital stock
of such branch and the number of shares
into which the same is divided.
Third, The name and place of resi-
dence and the number of shares held by
each member of the company,
Fourth, The time when such company
shall have been formed.
Which certificate shall be acknow-
ledged before a Justice Of the peace OIL
notary public, and shall be recorded by
the recorder of the county where such
branch is to be established, in book to
be kept by him for that purpose, which
shall at all times during Office hours be
kept open for the inspection of any per-
son wishing to examine the same; one
copy of which certificate, duly certified,
shall be transmitted to the Secretary OF
State, who shall record and carefully pre-
serve the same in his office, and another
to the bank commissioners in this act
named, until the organization of the State
Bank of Iowa, and thereafter to said
bank.
s 20. The officers of each branch shall
at The end OF every month. cause to be
prepared a statement of the number,
names and place of residence of each
stockholder in such branch, also the am
cunt OF stock owned by each, and the
date OF the transfers OF any stock with
the names OF The lFansierrer and transfer
ee, one copy of which statement shall be
posted up III some conspicuous place in
the Bank, and one copy shall be caused
by the Bank TO be filed in the Office
oil the recorder OF deeds in the county
wherein such branch is located, which
last mentioned copy ora certified copy
Of the same under the hand of the re-
corder shall be prima fscia evidence in
any court of justice in this State in suit
between the branch or State Bank ol
Iowa aad any third person.
5 2l. No branch shall be permitted to
commence or carry on the business OF
banking under this act, unless its capital
stock shall be at least $50, 900, nor shall
the capital stock of any such branch ever
be increased to exceed $500, 1000.
AT least 80 per cent. of the capita
stock of each branch shall be paid ii
gold and silver coin, and shall be in the
actual possession and bona fide the prop
erty OF the branch at the time OF th(