The Smoky Hill and Republican union. [volume] (Junction City, Kan.) 1861-1864, 1861-10-24

association Of persons organized eanser the
provisions of this act. by his their articles Of
association, 20 provide for An increase Of their
capital stock and Of the numbers Of such asso-
citation, from time 70 time, - they may think
proper.
SEC. 10. Contracts made by any bank or
banking associations established under the pro-
visions of this act, and all notes or bills issued
and put in circulation Is money, shall be
signed by the president and csshier thereof,
and all suits, actions and proceedings brought
or prosecuted hy and in behalf Of such bank or
banking association, shsll be brought and
prosecuted in the corporate name mentioned in
the certificate made and filed a. hereinbefore
required.
SEc. 10. 1t shall be lawful for such bank OF
banking association to purchase. hold and con-
vey real estate, for the following purposes
First Such as shall be necessary for its ion.
| saction of Its business. Second. Such as shall
be morteaged to it in good faith by way CT
Lsecurity for loans made by, or money due to,
such bank. Third, Such AS shall be conveyed
to it in satisfaction of debts previously con-
traeted in the course of its dealings. Fourth,
Such as it shall acquire by sale on execution
or decree of any court in its favor. The said
bank shall not purchase, hold or convey real
estate in any other case, or for Any other pur
pose whatever: and al conveyances of such
real estste shall be made to the corporations,
and VIII lch real estate the president and cashier
may sell assign, grant or convey, under the
direction Of the association, free from any
claim thereon in favor Of or against the shares
holders or ony person claiming under them.
SEc. 20. The president and cashier Of every
10 IL % Al. =.
act, shall, ct all times, keep true and correct
list of the names of all the shareholders of
such bank, with the amount of stock held by
each, the times of transfer and to whom trans
ferred, and shall file copy Of such list in the
Office Of the register of deeds of the county
wherein such bank may be located, and. also.
in the office Of the Auditor Of State, on the
first Monday in January aud July in each
year, and the stockholders in each bank shall
be individually liable in amount equal to dou-
bic the amount of stock owned by them. for all
the debts of such bank, and such individual
liability shall continue for enc year after any
transfer or sale Of stock by any stakeholder or
stockholders.
SEC q. In the event of the insolvency Of
any bank established under the provisions of
this act, the bilholders thereof shall be enti-
tied to preference in payment over all other
SEC %. 1t shall not be lawful for any bank
formed under the provisions Of this act to
make any Of its bills, or notes to be put in cir
culation as money, payable at any other place
than the Office where the business of the bank
is carried on and conducted, nor to issue Of
The same at any other place, and said bills or
notes shall be made payable on demand and
without interest.
SEC. % When the owner or owners of any
bank, DESTROYS Of reIinquishing the banking
business, shall notify the State Auditor Of such
intention, then, and in such case, it shah be
competent for said bank or bankers to redeem
and deposit with the Auditor of state, from
time to time, any amount Of their circulating
notes which may have been issued to said
associa ton, bank or bankers, in sums, how
ever. not less than one thousand dollars at any
one time, and to receive therefore and wit h
draw an equal amount of securities by them
deposited with the Auditor of State; but no
bank shall continue to transact any business
whatever, further than what may be required
to close up after their capital etock, securities
or circulation shall have been reduced to less
than twenty-five thousand dollars, nor in any
case after two yeats from the date of said
notice CT intention to relinquish and close up
their banking business, as aforesaid; and
whenever the retiring bank or bankers shall
desire to withdraw all the securities heretofore
lodged with the Auditor Of State, they may do
so, by producing and filing with the Auditor Of
State a certificate of deposit to his credit, in
such bank as he shall approve of, an equal
amount with the circulating notes of such bank
or banks then remaining unredeemed, and the
Auditor of State, on being satisfied Of such
deposits, and Of the suficiency thereof, shall
give up oil the remaining securities heretofore
deposited by such bank or bankers for the
redemption of the circulating notes issued.
SEC. "a. Such banking association or banE- |
er. after having complied with the provisions
of the last preceding section. shall give notice,
for two years, in some newspaper printed in |
the county where such bank shall have been !
located, and in paper printed at the seat of
government of this State, that all circulating |
notes issued by such banking association o,
banker Unjust be presented at the Auditor of
States Office, within two years from the date |
OF such notice. or that the funds deposited for |
the redemption Of the notes will be given up |
to the banking association or banker, and, on J
satisfactory proof of the giving of |
such notice for the time aforesaid, the Auditor |
Of State shall surrender to the order Of such |
banking association or banker, any securities |
which he may hold for the payment Of any |
unredeemed notes of the said banking associa- |
ton or bankers.
SEC. %. Any banking association or banker
wishing to withdraw any of the securities by |
them deposited with the Auditor Of State, may
do so by depositing an equal amount of the
notes which may have been issuel
to said association or banker by the Auditor
Of State, in sums OF net less than one thousand
dollars; Provided, That the amount Of secu-
rites thus Withdrawn by deposits of said cirs
culatfhg notes, shall not reduce the amount of
stock securities remaining in the hands of the
Auditor Of State, to less than twenty. Eve
thousand dollars.
SEC. 26. The securities to be deposited with
the Auditor of State, in trust. by any associa
honor banker, shall be held b; him exclu-