New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1862-01-27
An ACT Relative to Suits or Proceedings for the Forfeiture
Charters the Banks Of this State, or the Involnnta
date f1,prAo =.

y s sa i
SECTION Il Be d enacted by the Senate and House
of Representatives of The STATE Of Lo1tasiGnG IN
General assembly eo.uened, That during the .ex-
sting war, and for twelve months thereafter, no
suit OF proceeding shall be instituted, prose
nor any act done OF protest made for the non-pay
ment Of bank notes in coin or specie,t or TOR the
non payment of their weekly balance in specie or
coin, or for receiving and paying out other notes
than their own ut their counter, or for issuing cir
cuIating notes of denomination less than tive dol
lars, oil for granting any renewals; nor for de-
claring dividends nor authority exercised for the
purpose Of procuring the forfeiture Of the charter
o. 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, ex-
scept by special direction of the General Assembly
aor, of the Governor, who is hereby vested with
discretionary power over the subject during the
recess Of the General Assembly; provided that
said banks shall continue to receive and pay out at
par Confederate. States treasury notes; provided
further that said States treasury notes
shall not be considered a part Of their cash LA
bilities. fss !.
SEC q. BE Il further eaac,ed, etc., That in all
other respects said several banks shall strictly
conform to and obey the acquisitions Of the act
aet 10 revive the charters Of the several banks
located In the city of New Orleans, and for other
purposes except the second third and fourth
paragraphs of the first section of said act, which
are Q6EeUy SuSpGlQGU uuill tWeiv0 nOutilS dilcl
the termination of the existing war, and Of the
several acts amending the same; and the banks II
operation under the act approved 10th March
1856 entitled an act to establish general system
of free banking in the State of Lonisiana, com
monty called the free banks, shall also conform
to and obey the requisite Of all the laws in force
under which they we're in operation on the 18th Of
September 1861, except those specially excepted
|, or suspended by this act.
SEQ. 3. Be ii Further enacted, ETC., That if any
of said banks shall neglect or refuse to conform
to and obey the dictates Of the second section Of
this act, it shall be the duty of the Attorney Gen.
eraafo proceed against said bankor banks, as the
case may be, according to law, ~, 5.Sas
SEe. Y. BE 1T fa.,tt enacted, ETC., That no bank
shall sell any Of its coin during the time that the
| provisions Of the first section Of this act shall
have effect, and any violations Of this section shall
work forfeiture Of the charter Of such bank OF
banks,i and the President and Directors Of sucf
bank or banks shall be liable IN s0hdo for the
anlonnt or amounts Of coin SO sold, recoverable OF
the suit Of the State of Louisiana and the amounts
SO recovered shall be deposited in the treasury o
the State; provided nothing in this act shall be 81
1 construed as to prevent any of said banks from
loanng coin to this State the Confederate States
SEQ. 8. Bet further enacted ETC., That this &C
A shall take effect from and after its passage.
The above is the bill accepted as substituted
4 the Senates bill from the Committee on Banks
first, second and third reading passed 18th Jan
4 nary, 1862. 2. r.. EAsTlN,
X First, second and third reading concurred in
4 January Is 1852. OSCAR ARROYO,
~ vi i5safaq & @& Assistant Secretary of the Senate.
/ [The same was afterwards approved by the GOV
ernor, and Is now in force. ED. CREscENT.l