The weekly Ottumwa courier. [volume] (Ottumwa, Iowa) 1857-1872, 1858-04-29

be done any other matter or thing which said
Bank may deem necessary for the security Of
such branch, or any other branch or branches,
said Bank, or any Director thereof, acting for
said Bank, may apply to any Judge Of the Su-
preme Court or District Court, or any Judge Of
superior court or TO any judge Of any other
court not inferior to the District Cou-t, by
petition, in which the State Bank of Iowa
shall be made petitioner, and the branch i'm
plicated defendant, setting forth the substance
OF such order or orders, and such neglect or
refusal on the part Of the branch its officers
or agents, to comply herewith; and if the
President, Vice President, or any director Of
the Bank, shall make affidavit of the truth of
the facts therein stated, it shall be the duty of
such judge to allow an injunction, and to en-
join such branch, its officers and agents, and
all others in it's employ, or connected there
with, from doing, or suffering, or permitting to
be done, any business whatever as a Bank,
and from intermeddling with, or in any man
ner disposing of, the books, papers, monies,
choses in action, assets, or property of the
branch, until the further order Of the Supreme
Court as soon as an injunction is allowed.
S17. Upon the allowance Of such injunc-
ton, the property, credits, sureties, liens and
assets of every description, Of such branch,
shall forthwith vest in the State Bank of Iowa,
who shall appoint receiver to take possess
sion of the same as provided in the eleventh
section Of this act. A certificate of appoint
ment Of such receiver, by the judge, or court,
or clerk thereof, making the same, shall be
sufficient authority to him to take posses ssion
of the books, property and right Of every dis
scription of such branch, and shall be full au.
thority to the sheriff OF the county where the
branch is located, to take and give full possess
sion Of such books, property and rights, with
the aid Of the county, il required; and said
bank receiver shall be governed by the provis-
ions of this act as provided in case OF suspen-
sion and upon the dissolution Of such iajunc-
ton, or discontinuance of such suit by the
Bank, all the rights and property of such
branch shall be restored to and vest in such
branch. ..-....... ..........
Is. Natural persons, not less in number
than five, may associate and form branches of
the State Bank of Iowa. for the purpose of
carrying on the business Of banking, each at
such place in the State as shall be designated
in the certificate hereinafter required to be
made, subject to the contingencies, restric-
tions, condition and liabilities prescribed in
this act.
$40. Persons associating to form branch
shall, under their hands and seals. make cer-
tifcate, which shall specify:
First: The name assumed by such branch,
and by which it shall be knowr in its dealings,
in which name sha be included the name Of
the city, village or town in which its banking
operation shall be carried on.
Second: The amount OF the capital sto ck
of such branch and the number of shares into
which the same is divided.
Third: The name and place Of residence
and the number Of shares held by each mem
Der OF the company.
Fourth: The time when such company shall
have been formed
Which certificate shall be acknowledged
before justice of the peace or notary public.
and shall be recorded by tho recorder of the
county where such branch is to be established
in a book to be kept by him for that purpose,
which shall at all times during office hours be
kept open for the inspection of any person
wishing to examine the same one copy Of
which certificate, duly certified, shall be trans
mitted to the Secretary Of State, who shall re-
cord and carefully preserve the same in his
Office, and another to the bank commits sioners
in this act named, until the organization Of
the State Bank of Iowa, and thereafter to the
said Bank.
s 20. The officers Of each branch shall at
the end of every month, cause TO be prepared
statement OF the number, names and place
Of residence Of each stakeholder in such
branch, also the amount Of stock owned BY
each, and the date of the transfers of any
stock with the names of the transferer and
transferee, one copy Of which statement shall
be posted up in some conspicuous place in the
Bank, and one copy shall be caused BY the
Bank to be fled in the Office of the recorder
Of deeds In the county wherein such branch
is located, which last mentioned copy or GER
iifed copy Of the same under the hand of the
recorder shall be prima facie evidence in any
court of justice in this State in ssit between
the branch or State Bank OF Iowa and any
third person.
S2l. No branch shall be permitted TO COM
mence or carry on the business Of banking
under this act, unless its capital stock shalt be
at least $50, 900, nor shall the capital stock Of
any such branch ever be increased 10 exceed
$3O0, 1000.
A. least so per cent Of the capital stock Of
each branch shall be paid ir gold and silver
coin, and shall be in the actual possession and
bona fide the property Of the branch at the
time Of the commencement Of its banking bus-
ness, and the remainder Of the capital stock
Of such branch shall be paid in gold a nd silver
as aforesaid in installments. each OF at least ten
per cent on the whole amount Of capital sub
scribed, as frequently as once in every four
successive months, from the time OF commen-
cling business until the whole amount Of such
capital shall be paid up. Providsd, That the
Directors may postpone the payments Of the
deferred installments, or any part thereof, to
the branches when satisfied that the public in.