Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1863-04-04
OFF1CIAL.
LAWS OF THE UNITED STATES.
Passed at the THIRD Session of the Thirty
seventh Congress.
[CoNTrNUEO HRoN YEsr1aDAr.l
[Pun11o-No. 42l


Section 4S. And be it further enacted.
That.uo association shall at any time. nav
oution loans or discounts, or in purchasing
drafts or bills of e&eARnee, or 10 pay
ment OF deposites, nor Shall Il in any other
mode put in circulation the notes of any
bank or banking association, which notes
shall not, at any such time, be receivable
at par on deposite, and in payment of debts
by the association so paying out or circu.
lating such notes; nor shall it knowingly
pay out or put in circulation any notes
issued by any bank or banking association
which at the time of such paying out or
putting in circulation is not redeeming its
circulating notes in lawful money of the
United States.
Section 40. And be it further enacted,
That all transfer of the notes, bonds, bills
of exchange, and other evidences of debt
owing to any association, or of deposites
to its credit; all assignments of mortgages,
sureties on real estate, or of judgments or
DEGREES in its favor; al: :deposites of money,
buIlions or other valuable thing for it's use,
or for the use of any of its shareholders or
creditors; and all payments of money to
either, made after the commission of an
act of insolvency, or in contemplation
thereof, with a view to prevent the appli-.
tation Gifts assets in the manner-prescrib.
ed by this act, or with a view to the pre-
ference of one creditor to an other, except
in payment of its circulating notes, shall
be utterly mil and void.
Section so. And be it further enacted,
If the directors of any association shall
knowingly -yiolate, or knowingly permit
auysof the officers, agents, or servants of
the association to violate any of the pro-
visions of this act, all the rights, privileges,
and franchises of the association derived
from this act shall be thereby forfeited /;
such violation shall. however, be deter
mined and adjudged by proper circuit,
district, or territorial court of the United
Estates, before the association shall be de-
clared dissolved; and in cases of such vio-
lation every director who participated in
or assented to the same shall beld liablein
his personal and individual capacity for
all damages which the association, its
shareholders, or any. other person shall
have sustained in consequence ofisuch
violation.
Section 81. And be it, further enacted,
That the Comptroller of the Currency, with
the appreciation of the Secretary of the
Treasury, as often as shalt be deemed nec-
| essary or proper, shall appoint a4suitable
person or persons to lnakesau examination
of the affairs of every banking association,
which person shall not be q director or
other officer in aay association whose affairs
he,shall be .p, .inted to examine, and who
shall have power to make thorough ex.
amination into all the affairs of the assoc
citation, and, in doing so, to examine any
of the officers or agents thereof on oath,
and shall. make 9 full and detailed report
of the condition of the. association to the
ComptrolIer; aud the association shall not
be subject to any other vtsitorial powers
than such as are authorized by this act,
except such rs are vested in the several
courts of law and chancery. And every
person appointed to make such examina-
tion shalt receive for his services at the
rate of Eve dollars for each day by bin
employed IN such examination, and two
dollars for every twenty. five miles he shall
necessarily travel in the performance of
hislduty, which shall be paid by the asso-
citation by him examined. b
Section o. And be it further enacted,
That every president, director, cashier,
teller, clerk, or agent any asso ooiation.
.i.Weo shall embeEzle, abstract. or wilfnlly
misapply any of the moneys, funds, or
Ecredits of the association, or shall, without
Eauthority from the directors, issue or put
lin circulation any of the notes of the asso=
citation, or shaE. without such authority,
issue or put forth any certificate of depos-
II, draw any order OF bill of exchange,
4 make any acceptance, assign any note
bond, draft, bill Of exchange, mortgage
I judgment, or decree, or shall make any
1talse entryin any book, report OF statemen