The weekly hawk-eye. [volume] (Burlington, Iowa) 1858-1860, 1858-03-30

Ind. To pAy other lin1iItEtcD OF soch 9E4nc
and ai.sr u6lieeille 81 have TN q
81. 70 di,ids .,as.s T. .soethsldsr. :
their stock.
No branch shall iss.s any earti6eats u q
post order, draat. bsjI of exchange. Or oshs
evidence Of tsbf, payable 10 currency o
anything lees valuable Than sold ana silver col,
except receipts for special deposits; NOR sha
any such branch keep any accounts In cusrenc
Or in anything less valuable than gold end silvl
coin, excerpts accounts Of special deposits.
NO branch shall be permitted, tn recsivin
| payment IT it, banking house, o. other place,
| than whore the Same was payable, of any mote
bill, or other evidence of debt. due % suc
branch, and payabie It place other than 4,
banking house, to receive IN addition 10 Ii
| amount Of such debt and the legal interest du
thereon, any sum whatsoever q premium. =
change, or damages Pyovided, That nothing i
this section contained, shall prevent such branc
from receiving damages allowed BY isw upO
any bona ide bill Of exchange, duly processes
tor non-acceptancs or NON. payment.
sec. ~. All transfers Of notice, bonds, bill
Of exchange, and other evidence Of debt OWN
TO any branch, or of deposits to It's credit; 81
assignments OF mortgages or other securities o,
real estate, o. Of Judgments or DEGREES In Ii
ssvor ~ deposits OF money, bullion, or othe
valuable thing for Ne use, or for the use Of an.
Of its stockholders or creditors: I'll payment
OF money made after the commission Of m ac
Of insolvency, or in contemplation thereof. viii
view to prevent the application Of lis asset
IN the manner provided by this act, or with |
view TO the preference OF one creditor TO an
other, except in payment Of its circulating
notes, shall be held utterly null and void.
sec. 40. u the directors Of any branch shal
knowingly violate, or knowingly permit any Of
the oincers, agents or servants OF such branch
70 violate any OF the provisions Of this act. al
the rights. privileges and franchises Of suci,
branch shall thereby be forfeited; such violation
shall, however, be determined and adiudged by
court Of competent jurisdiction, agreeatly "a
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 liable in his personal and
individual capacity for all damage which the
branch, its stockholders, or any other persons
BODY polite or corporate shall have sustained
In consequence Of such violation.
Sec. Al. Every President, Director, Cashier,
Teller, Clerk or Agent of any branch, who
shall embezzle, abstract, or wiilfully msapply
any OF the moneys, funds, or credits OF such
branch, or shall without authority from the
Directors, issue or put in circulation any Of the
notes Of such branch, or shall without such
authority, issue or put forth any certificate
OF deposit, draw any order or bill Of exchange,
make any acceptance, sign sny note, bond,
DRAFT. biA OF exchange, mortgage, or other in.
strument Of writing, or shall make any false en-.
try on any book, report or statement of the
branch, with an intent in either case to iniure
or defraud such branch, or to injure or de.raud
any other company, body corporate or polite.
or any individual person, or to deceive any Off.
Ger 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 report or statement required by this
act, IN such manner as shall be designed to
evade the provisions Of this act, shall be
deemed guilty Of felony, end upon con viction
thereof, shall be confined in the PenItentiary
1t hard labor not less than one nor more than
twenty years.
Sec. AZ Stockholders in branches shall each
be individually and severally liable TO the cred
tors OF the branch of which they are the stock
holders, over and above the amount of .tock
,y them held, 10 an amount equal to their
'espective shares so held for all it's liabilities.
lccruing while they remain stockholders and
10 transfer OF stock shall effect such liability.
Ind should any such branch become iusolyent.
md its assets be found insufficient TO pay its
iebts and liabilities, its stockholders NAV be
to pay such deficiency in proportion
Q the amount of stock owned by each, AMI
hould the whole amount for which stock holders
re Individually responsible, as provided liz this
ectlon, be found in any case to be inadequate
Q the payment of all the residue of the debts
It any branch after the application of its assets
Q the paymen OF such debts, them the moneys
mi hn h1fl
Individual liabilities as such, shall be distributed
qualify among all the creditors of such branch.
proportion to the amount due to each the
ersonal liability in this section provided for, il
yer and above the stock owned BY stockhoid-
re-, and any amount unpaid thereon.
Sec. ~. The term stockhoider or shareholder,
used in this act, shall apply not only to such
ersOns as appear by the books of the associa-
on to De such, although the same may appear
II such books in the name of another person.
no also to every person who shall nave ad- |
anced the instruments or purchase money Of |
ny stock in the name of any person under 81 |
ears OF age, and while such person rem .ins a
linor 10 the extent OF such advance and also
every guardian or other trustee, who shall
olnntarily invest any trust funds in such stock.
10 no trust funds in the hands Of such guardian
trustee shall be in any way liable under the
|
vestment, nor shall the person for whose be.
Int any such investment may be made. be
sponslble in respect to such stock until thirty
ays after the time when such person respect-
ely become competent and able to control
10 dispose OF the SAKE; but the guardian or
her trustee making such investment as afore.
40, snail continue responsible as stakeholder.
IA such responsibility devolves upon the Der.
. oenehciaily interested therein, land in re.
ect to stock held by guardian or other
ustee under transfer of the same by a third
rson, or under positive directions by third
rson LOT such investment, the person making
en- transfer or giving such direction, and his
ecutors and administrators shall, for the pur-
ses OF this act, be deemed a stakeholder. and
estate OF such person, If be be deceased.
all De responsible Tor the debts and liabilities
argeao.e on such stock according to the pro.
sions Of this act.
Sec. A. The General Assembly NAV alter or
peal this act at pleasure, in the manner pro. Z
LED IN the Constitution Of this State, bat no
altering or repeating this act, shall impose I
y injustice or wrong upon the stockholders {
any branch. /
sec. 70. Every branch shall have power to {
ne All necessary and proper BY laws for the
and control Of it's business. and "a 4
ana regulate the rate and charges for making '
lect'ons, subject to be controlled therein nv u
J State Bank of Iowa. {
sec. 49, No branch shall issue any notes in. b
ded for circulation as money, excep, the
.es furnished for that purpose by the State
nix OF Iowa, and all such notes shall IL NV. q
9 At the branch by which they are issued in G
q and silver coin, the lawful currency ofIhe v
tied States, as provided for in section ten OF 3
act, on demand; they shall be signed bv il
President or Vice President Of the nroosr 81
nch, and eountersigned BY the Cashier there. p
made payable to the bearer, and shall he q
'otiable BY delivery; all other evidences OF b
!, issued by any branch, shall be negotiable u
transferable in the same manner a il issued u
natural person, and shall be bipdno-n, .,
branch. whether under seal or moi. and iii b
evidence OF debt, other than notes Of cir. b
't'on, shall be payable to the order Of soma b
son therein named. m
&c. Al. No branch shall put in circulation in
State, the bills or notes OF any Bank o. !,
king Company out Of the State, excent snch .
re received in the usual course Of business =
shall any branch either directly or indirectly :,
hange its BILLS or notes intended to c,renls,s -
honey with any bank or banking comnany a.
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