, 1861-10-19

N1AHEA &Q%I$Q1a WQA A1kAB9 4AsFN RAAV NAA&p Ro" |
er and rights as The e1&zn91ezs appointed by
the directors Of the bank; sad ~han any
agent as aforeszM shaN ind snd report, OF the
Governor Of the State ehan have resson TO BE-
uege thst the charter h1s been Vaoaa1ed, Y msy
Governor to order writ uf quo teds7uafo, 70 |
be tuot out of the sanganon circuit court, IN
vacation, IN the nsane Of tae people, Waaca
shall be axccated upon the prestdeat Of the
bank for The time being, = u tefss r. me nen asy
court. ealIfnr on the aid: :corporation to show
carE vherefore the charter hereby granted
shall not be declared forfeited. And It shall
be lawful fog the said court, upon return q
Of fhe a15ened yipIttion; -snd If such violation
be made 10 appear, and it Is not remedied i'm
mediatelv. then to pronounce and adJudge the |
said charter q forfeited and annulled. and
every issue Of fsct which shall arise In such
en@ nay e. .Sa he trie ia
bY iury. And it shall be lawful for the court |
ainreeSid to.reu1Ire the production OF su7h Of |
The books Of the corporation a. 1t may deem
necesEary for the ascertalEnent of the con-
tss rs 5S. i1s he na IN tss
Supreme Court Of the State. aud may th=re be
reversed or affirmed, according to the usage
Of Law. And it shall be the duty Of the Gov
e1noc to employ counsel in behalf Of the State,
to prosecute such writ Of qao ,oarTa'to-
= n
holders of each brunch shall be held annually,
at such time as the directors Of the bank shall
d,rect-at which time elections for directors
shall take place; to which meefing the direc'
tors Of the preceding year sha1 exhibit an ex-
act and particular statement Of the state, con-
dition and affairs Of said branch and general
meetings OF the stockholders may be held at
any other time, Fhen ordered by the board Of
directors Of the branch.
S "a. Certificates Of stock shall be issued to
stockholders, signed ~ the president and
cashier Of the proper branch, aud may bs
transferred On the books Of the branch, to be
kept for that purpose, and not Otherwise; in
which case the old certificates shEn be surren-
dered ard cancelled. and new oaes Issued.
S 25. STOCK shall be considered as personal
property, and may be sold on execution aud
transferred On the books of the branch By the
officer selling the came, but In all cases be
subject to lien, In f1Vor Of the bank, for all
debts bona s1lde due, or then owing and to be-
CENT due to the SAME, from the owner.
5 26, After the first election, no stockhold-
er Who shall not haze held his stock, for which
he votes, for three calendar months previous
to the day Of the election, shall be entitled to
vote; and the number Of votes to which
stockholders shall be entitled, in voting for
directors, shslt be in the proportion following
that is to say: for each and every share not
exceeding fifty, one vote; for every five shares
over fifty and up to one hundred one vote;
one vote. Stockholders may vote in peraon
Or by proxy, but stockholders who arc not
residents Of the United States shall not be en-
titled to vote their stock.
SGT. No president, caahier, clerk OF teller
OF ea1d bark, Or any brarch thereof, shall be
Permitted to vote, at any election for direct.
ors, as the attoraey, agent or proxy Of any
etccklol6eI. No president, cashier Or diFect-
or Of the bank, Or president OF cashier Of
either Of the branches, shall, during the term
| OF hiR ef1ce, be eligible to seat in either
branch Of the General Assembly Of this state.
28 There shall be board Of directors Of
| the bank, which shall be styled The Board
Of Directors Of the Union Bank Of Illinois"
Said board shall annually, after it's ofganiza~
tier, eject one Of its members president, at
such time AID in such manner IS shall be pre-
| scribed ty the bylaws, who shall hold his Of
| fee ole gear, or until his successor is elected
| and qualified. It Alall be his duty to preside
| Ut all meetings Of the board, to cau special
meetings thereof VIXEN he shall deem it neces-
6ary, and to transact all other business apper-
bylaws Of eaid bank. He shall receive al an.
nual sa1ary, to be allowed by the directors OF
! SAID bank, not less than one thousand no1
| mere than four thousand dollars, payable guar.
te1ly.
SEQ. The board Of directors Of the bank
shall have power to appoint 3 cashier and such
| other inferior officers and agents as may be
AGAEEeA3 Gt taIly pA lHt0 4usuE+St III La
taeir 1c1m OF cfice and compensation, a1c
receive such bond and security from them as
ttey msy, from tame to time, deem cxpadient
| $50. Ine directors Of the bauk shall have
power to Limit and control tho amount Of dis
ccunts and loans ef the branches, after thel
shall AMOUNT to double the amount Of th'
capital stock paid In; to Settle and adjust tht
accounts and balances between them ; aud, 70
good cause, may suspend the operations Q
the came; but they shall, in no case, Withdraq
Gry part Of the capital stock Of any branch, o
a1y part Of its loca1 funds, without the consen
OF the board Of directors Of such branch, to b
. used IN any othe7 branches, except in cases It
Quiring ench branch 10 be closed, as herei
provided for; aud they shall have power
make and prescribe all necessary bylaws
catry the power herein conferred into effec
s3l They ehaA have power to appoint Oh
!, or mora Ct their number to visit and inspet
F the condition aEd affairs Of each branch, whe
> and a5 often as to them ehall eeem necessary
snd 1t shell be their duty to make such exam
, t1cn at least once in six months, and also, {
: my other time, when thereto required by tt
directors Of any branch. No dirsetors sha
r inspect the condition and Affairs Of any brane
= trcR which he has received his appointm2n
r 5 81 The person Or psrsons so examluiu
r ehsl haye power to examine, on oath or afH
!. nation, (Which they are hereby authorized
a GdmiDiEfer,( all OF the Cff1cers, servants
h egents Of any branch, or any other person,
=. relation to the affairs and condition uf sus
- branch; aud they shall have power to exa1
n Inc all the books, papers, notes, bouds, 81
- other evidences Of debt Of any branch
q compare the books, funds and property
a said branch with their returns and statemen
~ made thereof-to ascertain the amount
.; money and available funds On hand; and ger
=. rally to make every other inquiry aud exa1
sr nation necessary to ascertain the actua1 con
"a ton ot such branch.
~ s3S The board Of directors Of the bg
~ sbsll have power to require Of the board Of
h recto1s Of each branch, reports of their bu
10 ness ard condition 50 often IS shall be e1
in dent, and not less than once each month
sA They ehal have power, and they
ch hereby required. whenever they shall ascert'
ii in any manner that any branch Ia 1asolvent,
RI Is mismanagiEg Its affairs, whereby the inter
- Of the other branches is endangered, or tt
X branch hath violated any Of the proVlsIc
re- Of this act, Or any other act binding up
nd ! them, or that any branch hath neglected Or
Is. fused to comply With any legal order or dir
de- andit is hereby made the duty Of said DO
NJ. forthwith to suspend the bu63neas OF 81
ae branch, and the power Of the branch dire It
over the shme, and if the interest OF the 4t
ia, close up the affairs and business Of 8
of brar ches entirely and to effect the same, Il
mt are hereby vested with power to appoint 8
4; ceiver OF receivers, who shall, under their
te. | rex tion and control, collect and receive
RI rights, credits and effects due such brar
and turn them into available funds,
n, settle, adjust and compound the sar
u ~ to Settle, a3jnst and Fay Oft
.W debts due by such branch; and if
~ ~ portion Of the capital stock Of such bran
~ or liabilities of stockholders therefor Bhal
- uIpaid, to sue for and collect the same, as
~ all contributions required from etockhoi<
oa uAd.r the provisions Of the ninety-second
Wy | tiCn Of This act. or SO much as shall be- ne
'ul esry to meet the acknowledgement euch hra1
1a S35. That a copy OF such order suspeai
~ - or closing any branch, and appointing 3
-, ceiyer Or receivers to take charge Of the 50
,tH, 80 Bfgued by the president and attested by
iaJ clerE of said board and seal Of the bank, 6
~ be sufficient to authorize said receiver to 8
~ !, and take charge Of the same; and all off
" stockholders, servants and agents Of 6
~. branch shall be required to obey and sui
enS to the same, and in default may be indicted
~ - mssdemeanor, and fined and imprisoned al
,n9 discretion Of the jury trying the same;
M ank any person f1audulently holding OF cont
an1 Ing any OF the property or eHects Of (
~ aahhg branch from such receiver shall, upon cor
,+as nc ton thereof upon presentment or lndictm
49, ~, be fixed in any sua not exceeding one tb
Aly Wy ard dollars, and col fined at hard labor IL
mn State prison for any term Of time, not
'rss ,us than one year nor more than twenty years
w s 36 It Ehall be the duty Of the director
y. thE bank to provide for the payment Of al
psE debts Of falling branch that shal1 remain
s4t after all the property res1 and personal, ril
NJ credits and efects, and all the stock of
.tiv failing branch, snd the contributions {
,Ssrs Stockholders, ehall have been first app;
= ~ and for that purpose they are hereby a1
,sn vs lied to call on the other branches for
g|ns1 | respective proportions, arranging the tin
tbar making such call, SO that the whole am
~ OF such debt eha1l be paid within one year
VI such failing branch shall have been suspe,
M akoHc fnv a..