Quasqueton guardian. (Quasqueton, Buchanan County, Iowa) 1856-1858, 1858-05-06
I 3 x "A u TIL ORITT-
CHAPTER 81.
AN ACT
TO INCORPORATE THE STATE
BANK OF IOWA.

TO INCORPORATE THE STATE
BANK OF IOWA.
SECTION 1. Be aenacted by the Gener
al assembly ofMe State Of Iona, That the
State Bank of Iowa be and the same is
hereby incorporated with all the powers
hereinafter granted, and by that name
shall be capable of contracting and being
contracted with, and of prosecuting and
defending actions as fully as natural per-
sons, and of doing all other acts neces-
sary to effect the objects contemplated in
this act by the creation of said corpora
ton.
Sc. That as soon as five or more
branches of the State Bank of Iowa shall
be organized rs in this act is authorized,
the directors of the said State Bank of
Iowa, appointed by such branches, shall
meet III Iowa City at such time as shall
be designated by the board of Bank
Commissioners, 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 Di-
rectors shall be convened, they shall or
ganize by taking an oath, diligently,
faithfully and impartially to perform the
duties imposed upon them by this act a
certificate of which oath signed by each
Director shall be filed and preserved in
the Office of the Secretary of State, and by
electing some one Of their number as
President, who shall preside at the meet
ing Of the Board and sign its official doc
uments and thereafter the directory of
the State Bank shall be composed of one
Director appointed by each branch of said
Bank two-thirds of whom shall be quo
rum and other branches may be organ
lied under such Directory as is herein
provided.
So. The Directors shall, when they
deem it necessary, elect Vice Preident,
whose duty shall be prescribed by the
bylaws. They shallappoint Secretary,
who shall keep a fair and true record of
the proceedings of the Bank. They shall
keep an Office in Iowa City, which togeth-
err with their books, papers, records, and
accounts of every description, shall at all
times be open to the inspection of amy
committee Of the General Assembly, or
either branch thereof, and of any COM
missioner or commissioners specially ap-
pointed for that purpose by the General
Assembly or either branch thereof. or by
the Governor of the State. They shall
prcure and furnish each branch with notes
for circulation, and decide on the amount
to be furnished from time to time TO each,
within the limits and agreeably to the
rules and restrictions prescribed by this
act. They may prescribe rules for the
settlement of balances between branches,
revise their bylaws and regulations
concerning charges for making collec-
tions, and cause both to be made uniform,
or as nearly SO as may be expedient.-
They shall have power by themselves, or
by committee of one or more members
Of their own body, or by special agent
appointed 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 securities
held by such branch, examine and as
certain the amount of money and other
property 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 shall have power to
require any branch to reduce its crcula-
ton or other liabilities within such limits
as they shall, after full enquiry into its
condition, deem necessary to secure from
loss either the dealers with such branch,
or the other branches Of the State Bank
of Iowa. They shall, as soon after the
first Monday OF every month as practical
BILE, publish III some newspaper printed
at Iowa City, consolidated abstract OF
the monthly reports of all the branches
showing their assets, liabilities and con-
dition, which statement shall be record
ed in book or books to be kept for that
purpose. They may appoint an execu-
tive committee Of not less than three, of
whom the Vice President shall be one.
to act in behalf of the Bank in all such
cases as shall be prescribed by the by
laws Of said Bank, not inconsistent with
this act.
81. The President Vice President,
Secretary and all other officers or agents
of the Bank, shall each receive such COM
pensation for their services as said Bank
Shall allow, which shall be assessed, up
on the several branches of the State Bank
Of Iowa in the ratio of their capital stock.
The Bank may also allow the executive
committee such compensation as it may
deem just and reasonable to be paid by
the several branches in the same manner,
and the expenses of procuring plates and
printing notes of circulation shall be paid
by the several branches in the ratio o
the notes of circulation received by each