Weekly Council Bluffs bugle. (Council Bluffs, Iowa) 1857-1860, 1858-03-31

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30. The bransh.Aa shall eonslnae DO
exIas 10 long al necessary tor tia aatsls.
mens ~ their affairs. notwithstanding
The repeal soa ibis So Ana 20 law shsll
sssr hs passed dfvsrslmg or appropFin-
nag tia assets Of Mny aaoh branch 90 any
persan othsr than e sAs payment ek iss
aSbls and liabilities, end che aiasraea-
sion 90 the residue asnoug Ito asoakAold-
err, In proportion u sha stock By them
ssysrAaly owned.
BANK COMMISSIONERS.
s. ST. To CARR into eject the proyia-
ieiaa Of this acs, g. II. Boosh, Of Dabaqas
eoanty, Il. IL harrison, Of Lee county,
Ezekiel CLARK, ng Johnson county, j. w
DutsOn. Of Muscaggne county, WIN. j.
GasIin@, uf Polk eonnty, q. W, Slagle,
ol Jefferson county, Ellhu Baker, Of Linn
eounsy, W. 8. Dart, 81 Mahaska county,
e. M. Rahhitt, of Pottawattamie county,
Edward I. Edgsrton, Of Lucas county,
shall be and they are hereby appointed
commissioners, and they, or majority
Of them, after taking an oath diligently,
faithfully and impartially to perform the
duties assigned them IN this act, . GER
sittate Of which oath ahall be died snd
sarefally preserved In the afkcs Of the
Secretary Of the Stata, shall constitute
Board 10 be designated che Board Of
Bank Commissioners, which board shAli
continue until the organization Of the
State Bank of Iowa, as herein provided
for, and thereafter the dasies which they
are required 10 perform By this act shall
be performed BIZ said bank and II any
Of said commissioners shall refuse to
serve, shall die or resign, his plaza shall
be hlled by appointment BY the Govern
or. Hoyt Sherman, Of Polk county, B.
Lake, of Clinton county, and Elias III.
Williams, Of Clayton county, are hereby
appointed directors Of the Ssate Bank OF
Iowa, on the part Of the State who shall
have the same powers 30 directors on the
part Of the bank, and who shall be paid
BIZ the State, and shall receive three dol
lars per dag for time actually engaged
in their datiss, and mileage the same as
members Of General Assembly. The
term Of service Of said Directors shall be
for lwO years aud until their successors
are elected and qualified. Il shall be tha
duty Of the General Assembly to elect
three directors Of the State Bank Of Iowa
at each regular biennial session. No
person shall be eligible 10 the ONCE o.
State director who holds any ofhee or APP
pointment undsr any Of the BREACHES OF
owns any stock In the sAma, and the &C.
eeptznea Of any once Of trust or profit
from any branch, or the acceptance Of
any stock In any branch by State Di-
rector during his term Of service shall be
deemed 3 resignation and the Governor
shall Gil By appointment the vacancy.
Said commissioners shall meet at Iowa
City, AZ such time, within thirty days Of
Ehe adoption of this act, as shall be APP
pointed by the Governor, who shall no
tify each member Of his appointment,
and # the time and place Of meeting
They shall, when met, appoint one Of
their number TO be their President, who
shall, under the order Of the board sign
all Official documents and they shall
cause fair and true record Of all their
Official proceedings to be kept in book
to be provided for that purpose, which
shall be delivered by the president Of
sad board to the State Bank Of Iowa, as
soon rs the same shall be organized.
8 81. The Board OF Bank Commission
! ers shall examine their certificates OF the
/ formation Of branches transmitted to
them, IS required By this act, sud shall,
| BIZ one Of their own number, or other
! special agent appointed by them for that
purpose, who shall not be a stoekhdldeV
IN any Of the branches formed under this
! act, Immediately proceed to examtnR the
| condition Of each Of the branches wh'eh
shall have transmitted to said board the
required certificate and ii shall be the
| special duty OF such agent to carefully
count and otherwise ascertain the amount
of money paid in on account Of its capital
| stock 10 ascertain the name and place
! Of residence of each Of the directors Of
sueh branch, And whether their stock
holders, directors and officers are men
OF responsibility and integrity, and en-
titled to the public confidence, aud the
amount OF capital stock Of which eaeh is
tho bona 6ds owner whether such branch
has complied with all ihe requirements
OF this act, necessary TO entitle the
branch 20 engage in the business Of bank
ing and shall cause 10 be made, aud al
tested by the oath Of 8 majority az the
directors, and by the Cashier Of such
branchs statement Of all the material
facts necessary 10 enable the board OF
Bank Commissioners to determine wheth-
er such branch Is lawfully sntitlBd to
commence the business Of banking under
the provisions Of this ACT and such agent
shall Immediately report 60 the board Of
Bank COMMISSIONER such statement, and
his proceedings in the premises. ...
5a. III, upon a careful examination
OF the Certificates OF association, and the
reports and statements Of the special
SCENTS appointed 10 ascertain whether
the branches 80 organised have complied
With the provisions Of this act, il shall
appear that Ave or more such branches
have been gGrmed, and thatssheir stock
holders, directors and officers are nten Of
responsibility and integrity, and entitled
to public confidence, and that such
branches are lawfully entitled 90 COM
menee the business Of banking, che COM
missioner shalI certify to the same 30 the
Governor, and shall Immediately notify
each Of said branches thereof and with
In ten days after receiving such notice,
each branch shall appoint, In such man
ner as the directors thereof shall pre-.
scribe, one psrsan 10 be director 81 the
State Bank OF lows,
854. Tha Governor, If he be satisfied
that the Law has in ell respects been
complied with. shall issue his uroclama-