Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1858-12-09
Approved, Nov. %, 1858.
No. CAN act RELATING to Banks

II is hereby enacted, dc.
Sec. l. 1t shall be the duty of the Bank
Commissioner, during the time of his annual
examination, and at any other time in his dis
erection, to examine all Banks whose charters
have expired, until the entire affairs of the SINE
shall have been closed up, and embrace the same
in his annual report.
Sec. 2. 1t shall be the duty of the Bank
Commissioner, during his annual examination,
to destroy the bills of all closing and closed
Banks which he shall discover, and keep true
record Of all he may no destroy.
Sec 3. 1t shall be the duty of the Bank
Commissioner, during his annual examination,
to ascertain and report, if any of the officers of
the banks of discount and savings banks are the
same and if the officers of either have inspcc-
ton OF the books, papers, or business of the
other.
Sec. 4. 1t shall be the duty of the State
Treasurer to provide and keep suitable book
upon which to record all certificates issued by
the Bank Commissioner, and to record the same
and arrange and keep plain and convenient
index OF said records; and it shall he the duty
OF said Treasurer to give duly certified copies
OF such records which shall be the proper evil
dence Of the facts therein contained
Sec. 5. 1t shall be the duty OF the Bank
Commissioner to ascertain from the State
Treasurer what Banks have lodged in his office
the proper certificates that the capital stock of
such Banks has been paid in agreeable to their
several charters, and in case any of such certi-
ticates shall be lost, said Commissioner shall pro
ceed to enquire whether any We're ever issued to
such Bank; and if from any evidence which
such Bank can furnish, said Commissioner shall
be satisfied that said Bank had been duly cert-
fled, he STALL proceed to issue to such Bank "a
new certificate in proper form, the record of
which shall be the evidence of such finding, and
shall have the same effect as if the original had
been 80 recorded.
Sec. 6. Ifany Bank shall be unable to prove
to the satisfaction of said Commissioner that its
capital has been duly certified, said Commission
er shall proceed to make an examination of Its
affairs, and if he shall find, upon fair estimate
OF its assets at their cash value for banking pur-
poses. that the capital Of such Bank is full,
agreeable to the terms of its charter, he shall
issue " such Bank "a certificate in due form /.
but if said Commissioner finds such Bank short
Of capital, he shall decide how much the def
cheney is and shall make and file with the off,
GERS of such Bank within the same his writ
ten order directing the Directors to make an
assessment upon the stock holders thereof, in
''-''''''N
said capital full, ordering the same to be paid
IN and t. become part Of the capital stock of
such Bank by a given day specified in said order,
which shall not exceed nine months from the
filing OF such order with such Bank and if
such order is duly complied with, said Commits.
soner shall issue to such Bank certificate in
due form; but if said order is not complied with,
f SAID Commissioner may. upon the request Of
such Bank, issue a certificate for the amount of
capital he shall find such Bank has. which shall
thereafter be deemed the capital Of such Bank,
provide the capital stock of any Bank shall
not thereby be reduced below fifty thousand dol
lars, and provide further that if any Bank shall
i'Ill to comply with the provisions of this act,
1t shall be the duty of the Bank COMMISSIONS
to proceed against such Bank as in case of an
msolvent Bank
Sec I 1t shall be the duty of the Bank
t commissioner, and he is hereby directed to pro,
coed to inquire into the affairs of the Essex Co,
Bank and to receive any and all funds that may
remain IN the hands Of any party, and deposit
the same with the Treasurer Of this State.