New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-12-19

circulating notes issued under ne nee banking
law. M y sss .Ys .s q sss
sEe. 2. Be it further enacted esc., That The eir-
| culating notes, hereby authorized to be issued,
shall be executed and signed insthe manner pre-.
scrihed by the 18th section OF an act entitled ian
aot to establish general system o. free banking
in the State of Louisiana. y approved l5th March,
tsiS55 EXCEPT that the same shall not be counter
signed by The Auditor;nor registered by hims but
4 the same shall be registered blythe bank issuing
i the sarns in book to be kept for that purpose,
/ which book shall, at all times, be subject to the
/ inspection OF the Board of Currency. fs zsy Bl
SEC. s. Be ii further enacted, ftc.y That the cir
cuiafing notes issued under the provisions of this
act shall constitute part of the liabilities Of the
| bank issuing the same, and for which such bank
shall at all times, have hand onethird in specie
and the other two-thirds in bills Of exchange or
discounted paper maturing within ninety days and
not renewable. ,.s8..s NM, ~ 5,,. s~,.s.S,z.
SEc. 4 Be Il further enacted, ETC., That any bank
which shall wiifnfy issue circulating notes in ex-
cess OF the amount authorized by this act, shall
forfeit is charter and privileges and shall be liable
TO q penalty OF ten thousand dollars, to be sued
for and rscovered by the Attorney General for the
SEC. {. It further enacted, etc., That this act
shall take effect from and after its passage Id
AN ACT relative TO suits OF for The
The saaFtss sf ne saas stare involuntary
In the Senate of Louisiana December 10TH 1861
Mr.. Solomon, from the Joint Committee ON Banks
and Banking, submitted a report, accompanied by
the following bill, which was read and passed TO a
second reaaing . 4 4yE
SECTION /. Bet e,sdctedby the Senate and House
Of Representatives of the Sac Of. Lonssdad, IN
General Assembly conGese That during the exist.
ing yer, and for twelve months thereafter no suit
or proceeding shall be instituted or prosecuted, or
any act done or protest made for the nonpayment
of bank notes In coin or speeie or authority exer
cised for the purpose Of procuring the forfeiture
of the charfer,aor the involuntary liquidation of
any bank created or organized under any law of
this State, by any court, or officer. or notary or
other person, except by special direction OF the
General Assembly or of the Governor, who is here
by vested with discretionary power over the sub
jeet during the recess of the General Assembly;
and the several banks Of this State and the officers
and directors thereof shall not be liable to the
penalties of the act of the 9TH of February 1872,
tor any nom compliance with the provisions Of said
act, or any act of the Legislature amending the
same. e seT g n s NJ
4 SEC. 2. Be 1T further enacted, ETC., That any
bank of this State, desiring to go into voluntary
liquidation, shall be and is empowered to do SO
upon notification to the Governor Of q resolution
of the Board of Directors of such bank to that
effect, in pursuance Of vote of the stockholders
and the liquidation and settlement of the affairs Of
any such bank, in which the State of Louisiana Is
not stockholder, shall be effected by and under
the control of three Of its sstockholders. to- be
chosen as lquidators by the Board of Directors of
such bank. and who, as hquidators, shall have
power to sue and be sued. E1t&G wv
ff SEC 3. Be il further enacted etc. That this act
shall take effect from and after its passage. s~f