The weekly Ottumwa courier. [volume] (Ottumwa, Iowa) 1857-1872, 1858-04-29
LAWS.OF IOWA.
PUBLISHED BY AUTHORITY
CHAPTER 81.

AN Act to incorporate the State Bank of
Iowa.
SECTION 1. Be it enacted by the General
Assembly ofthe State of lo,ra, That the State
Bank of Iowa be and the same is hereby in
corporated with all the powers hereinafter
granted, ant by that name shall be capable of
contracting and being contracted with, and of
prosecuting and defending actions as fully as
natural persons, and Of doing all other acts ne
cessary to effect the objects contemplated in
this act by the creation Of said corporation.
50. That as soon as five or more branches
OF the State Bank of Iowa shall be org ganized
as in this act is authorized, the directors Of
the said State Bank of Iowa, appointed by
such. branches, shall meet in Iowa City at
such time as shall be designated by the board
of Bank Commiss. .oners, who shall give ten
days previous notice to each branch, of the
time of such meeting, and provided two-thirds
of the whole number of such directors shall
be convened, they shall organize by taking an
oath, diligently, faithfully and impartialiy to
perform the duties imposed upon them by this
act, a certificate of which oath, signed by
each director, shall be fled and preserved in
the Office of the Secretary Of State, and by
electing some one of their number as Presi-
dent, who shall preside at the meeting of the
board, and sign its official documents; and
thereafter the directory of the State Band
shall be composed of one director, appointed
by each branch Of said Bank, two-thirds of
whom shall be quorum; and other branches
may be organized under such Directory as is
berein provided.
So. The directors shall, when they deem
it necessary, elect a Vice President, whose
duty shall be prescribed by the by laws. They
.hall appoint aSecretary, who shall keep fair
and true record Of the proceedings of the
Bank. They shall keep an Office in Iowa
City, which together with their books, papers
records and accounts of every description,
shall at all times be open to the inspection of
any committee Of the General Assembly, or
either branch thereof, aod of any commission
sror commissioners specially appointed for
that purpose by the General Assembly, or Ell
ther branch thereof, or by tn" Governor of the
State. They shall procure and furnish each
branch With notes for circulation, and decide
on the amount to be furnished from time to
<ime s6each, within the limits and agreeably
20 the rules and restrictions prescribed by this
act. They may prescribe rules for the settle
snent Of balances between Branches, revise their
'by-laws and regulations concerning charges
for making collections, and cause both to be
made uniform, or as nearly as may be expedi-
ent. They shall have power by themselves
or BY a committee Of one or more members oi
their own body, or by special agent appoint
By them for that purpose, whenever, and as
often as they shall think proper, to visit any
branch, inspect its books, records and accounts
and all the evidences Of debt due to and secu-
rites held by such branch, examine and aa-
certain the amount Of money and other prop.
erty held by such branch; examine on oath
the President, Vice President and Directors
and Cashier, and all other officers, agents,
clerks, or servants, Of the branch, touching its
condition, means and liabilities, they sha}|
have power to require any branch to reducef((
circulation or other liabilities within such lin.
ito a. they shall, after full enquiry into its
condition, deem necessary to secure from loss
either the dealers with such branch, or the