The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1858-04-23

from receiving damages allowed by law upon
any bona fie bill Of exchange, duly protested
for non scoepisnce or non-payment.
80. All transfers Of notes, bonds, bills Of
exchange and other evinenccs OF debt owing to
any branch, or Of deposits to its credit all
assignments of mortgages, or other securities
on real estate Of judgments DEGREES in its
favor; all deposit sof money, bullion other
vauable thing for its use. or for the use ofany of
its stockholders or creditors; all payments Of
money made after the commission Of mn act ofin-
solvency, in contemplation thereof, with . view
to prevent the application Of its assets ia the
manner provided by this act with view
to the preference Of Que creditor to another,
except In payment ofits circulating notes, shall
be held utterly null and void.
40. II the directors Of any branch shall
knowingly violate. or knowingly permit any
Of the officers, agents or servants Of such branch
TO violate any Of the provisions Of this cot, all
the rights, privileges and franchises Of such
branch shall thereby be forfeited; such violA-
ton shall however, 10 determined and sd
judged BY court Of competent jurisdiction,
agrseably to the laws of this State and the
practice Of such court, before the corporation
shall be declared dissolved. and in case Of
such violation, every director who participated
in, or assented TO the same, shall be held iiAble
in his personal and individual capacity for all
damages which the branch, lis stockholders. or
or any other persons. body polite or corporate
shall have sustained Ia consequence OF such
violation.
Al. Every President, Director, Cashier.
Teller, Clerk or Agent of any branch, who shall
embeszls. abstract, or wilfully misapply any
Of the moneys, funds. or credits Of such branch,
or shall with authority from the Directors,
issue or pV in circulation any Of the notes Of
such branch or shall without such authority
issue or put forth any certificates Of deposit,
draw any order, or bill Of exchange, make any
acceptance, sign any note. bond. draft, bill Of
exchange, mortgage, or other instrument Of
writing. or make any false entry on any book,
report or statement Of the branch. with an iu-
tent in either case to injure or defraud such
branch, or to injurs or dsfrsud any other COM
psny, body corporate or polite. or any indi-
vidual person, or to deceive any officer or agent
appointed to inspect the affairs Of any branch,
or shall make, or shall omit to make, or shall
advise or consent to the making Of any re-
port or statement required by this act, shall be
deemed guilty Of = felony, and upon convic-
tion thereof, shall be confined Ia the Penitsn-
tiary at hard labor not less than one nor more
than twenty years.
4 AZ. Stockholders la branches shall each be
individually and sevcrally liable to the credit
ors Of the branch OF which they are the stock
uoiuetS, pVcT ouh hOoNe Tue amount OF btOCk Dy
them held, to an amount equal to their rsspec-
tive shares so held for ell its liabilities, accru,
ing while they remain stockholders, and no
transfer Of stock shall effect such liability, and
should any such branch become insolvent. and
- Assets be found insufieicntlo pay It's liabil.
ties. its stockholders msy be compelled 10 pay
such deficiency in proportion to the amount Of
stock owned by each. and should the whole
amount for which stockholders sre indivi dually
responsible. ~ provided in this section, be
found in any case TO be inadequate to the pay
ment Of oil the residue Of the debts Of any
branch after the application Of its assets - the
payment OF such debts, then. the moneys due
from the stockholders on account Of their indi-
vidusl liabilities such. shall b equally distrib
uted among all the creditors Of such branch, In
proportion TO the amount due 10 eAci The personal
liability in this section provided for 10 over and
above the stock owned by stockholders, and
any amount unpaid thereon.