Quasqueton guardian. (Quasqueton, Buchanan County, Iowa) 1856-1858, 1858-05-06


Bank Commissioners, which Board shall con-
tinue until the organization Of the State Bank of
Iowa, rs herein provided for, and thereafter the
duties which they are required to perform 10y
this act shall be performed by the said bank and
if any of said commissioners shall refuse to
serve, shall die resign, his place shall be filled
by appointment by the Governor. Hoyt Shcr-
man, of Polk county, Benjamin Lake, of Gin
ton county, and Elias II. Williamson, of Clay
ton county, are hereby appointed directors Of
the State Bank of Iowa, on the part of the State,
who shall have the same powers directors on
the part of the Bank and who shall be paid by
the State, and shall receive three dollars per day
for the time actually engaged in their duties and
mileage the same as members of the General AS
sembly. The term of service of said Directors,
shall be for two years, and until their successors
are elected and qualified. 1t shall be the day
OF the General Assembly to elect three directors
of the State Bank of Iowa at each regular bien-
NAL session. No person shall be eligible to the
office of State director who holds any Office or
appointment under any of the branches or owns
any stock in the same, and the acceptance of
any office of trust or profit from any branch or
the acceptance of any stock in any
branch by State Director during his term of
service shall be deemed a resignation and the
Governor shall fill by appointment the vacancy.
Said commissioners shall meet at Iowa City, at
such time, within thirty days after the adoption
of this act, as shall be appointed by the Govern
or, who shall notify each member of his appoint
ment, and of the time any place Injecting They
shall, when met, appoint on 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 OF
fetal proceedings to be kept in book provided
for that purpose which shall be delivered by the
President of said board to the State Bank of
Iowa, rs soon the same shall be organized.
50. The Board of Bank Commissioners shall
examine the certificates of the formation of
branches transmitted to them, as required by
this act, and shall, by one of their own number
or other special agent appointed by them for
that purpose, who shall not be stakeholder in
any of the branches formed under this act, imme
diatcly proceed to examine tn condition of each
of the branches which shall have transmitted to
said board the required certificate ; and it shall
be the special dnty of such agent to carefully
count and otherwise ascertain the amount of
money paid In on account of its capital stock !;
to ascertain the name and place of residence of
each Of the directors of such branch, and wheth-
er their stockholders, directors and officers are
men Of responsibility and entitled to the public
confidence, and the amount of capital stock of
which is the bona fide owner ; whether such
branch has complied with the requirements of
of this act, necessary to intitle the branch TO
engage in the business of banking and shall
cause to be made and attested by the oath of
Il majority Of the directors, and by the cashier
of such branch, n statement of all the material
facts necessary to enable the Board of Bank
Commissioners TO determine whether such
branch Is lawfully entitled to commence the
business of Banking under the provisions of this
act and such agent shall immediately report TO
the Board OF Bank Commissioners such state
ment, and his proceedings in the premises.
53 If upon a careful examination of the GER
tlhcates of association, and the reports and
statements of the special agents appointed to
ascertain whether the branches SO organized
have complied with the provisions fthis act, it
shall appear that five or more such branches
have been formed, and that their stockholders
directors and officers are men of responsibility
and integrity, and entitled to public confidence,
and that such branches are lawfully entitled to
commence the business of banking, the Commits
sioner shall certify TO the same to the Governor,
and shall Immediately notify each of said
branches thereof and within ten DAYS after re-
celving such notice, each branch shall appoint,
in such manner as tia directors thereof shall
prescribe one person TO be director of the State
Bank of Iowa.
; 54 The Governor, if he be satisfied that the
law has IN al respects been complied with, shall
issue his proclamation, setting forth that such
branches are authorized to commence and carry
Oh banking, at the places SeYeralJy designated
in there certificates of association which pro-
clamation shall be recorded in the office of the
Governor, anda copy of said record certified un-
der the great seal OF the State of Iowa, shall be
prima facia evidence of the organization of such
bank.
So. The bank commissioners, and all agents
appointed by them, shall each be entitled to re-
ceive for their services under this act, five dol
lars per day for every day necessarily employed
in the discharge of their duties, and same mile
age as is received by members of the General
Assembly to be paid by the State Bank of
J Iowa.
Sc. This act shall take effect and be in force
| from and after its approval by majority of all
the electors of this State voting for and against
it at an election provided by law and not other
| wise.
! STEPHEN B. SHELLEDY.
Speaker of the House of Representatives.
ORAN FAVILLE,
President of the Senate.
| Approved March Goth, 1853.
RALPH p. LOWE.
| hereby certify that the foregoing is
a true copy from the original roll on file
in my office. ELIJAH SELLS,
Secretary of State.