Charles City intelligencer. [volume] (Charles City, Floyd County, Iowa) 1864-1866, 1864-08-18
association, which name shall be sub
jcct to the approval of the Comptrol.

pcSonu lne place. where It's Ope
rations of discount aud deposit are t,
be carried on, designating the State
Territory, or District, and also til,
particular county and city, town, o
village. ssgsa -.-f. -u.. aof ,rg sr.
Third. The amount of its capita
stock, and the number of shares int
which the same shall be divided.
Fourth. Tho names and places o
residents Of the shareholders, aud tn,
number of shares held by each o
| them. ..- 49,, ........ f......sI .-....
| Fifth, A declaration that said Ger
tificate is made to enable such per
sons to. avail themselves of the advan
tages Of this act. .# .a.s... yt1a
The said certificate shall be &C
knowledged before a judge of some
court of record or a notary public
and such certificate with the acknowl
edgement thereof authenticated b,
the seal Of such court or notary shal
be transmitted to the Comptroller @
the Currency, who shall record ant
carefully preserve the same in his Of
flee. Copies Of such certificate, duly
certified shy the Comptroller, and an
thenticated by his seal of Office, shall
be legal and sufficient evidence iu al
courts and places within the United
States. or the Jurisdiction Of the Gov.
ernment thereof, of the existence o
snch association, and Of every Other
matter Or thing which could be proved
10y the production of the original Ger
tilicate.
Sec Z. And be it further enacted
That no association shall be organized
under this act, with q less capital
than one hundred thousand dollars
nor in a city whose population ex,
ceeds fifty thousand persons. with a
less capital than two hundred thou.
sand dollars: Prorided, That banks
with capital of not less than fifty
thousand dollars may. with the ap
proval of the Secretary of the ,Treasu.
ry, be organized in any place the pop.
nlation of which does not exceed six
thousand Inhabitants. ss- rs ..
Sec. 8. And be it further enacted,
That every association formed pursu-
ant TO the provisions Of this act shall,
from the date of the execution of It's
organization certificate, be a body
corporate, but shall transact no bust.
ness except such asemay be inciden-
tai to its organization and necessarily
preliminary, until authorized by the
Comptroller of the Currency to com
mcnce the business of banking. Such
association shall have power to adopt
a cnrrorate seal, and shall nave sue.
cession .y the name designated in its
organization certificate. for the period
of twenty years from its organization,
unless sooner dissolved according to
the provisions OF its articles Of asso,
citation, or by the act of it's sharehuld-
ers owning two thirds of its stock. OF
unless the franchise shall be forfeited
by violation Of this act by such
name il may make contracts, sue and
be sued, complain and defend, in any
court of law aud equity as fully as
natural persons it may elect or ap
point directors, and by it's board of di
rectors appoint president, vice presi
dent, cashier, and other officers, de-
fine their duties, require bonds OF
them and fix the penalty thereof, dis
miss said officers or any of them al
pleasure, and appoint others to fil
their places, and exercise under this
act all such incidental powers as shal
be necessary to carry OH the business
of banking by discounting aud nego
tiating promissory notes, drafts, bills
of exchange, and other evidences o
debt by receiving deposits +; by buy
ing and selling exchange, coin. anc
bullion by loaning mouey on person
al security by obtaining. issuing
aud circulating notes according t
the provisions of this act aud it.
board Of directors shall also hav,
power to define and regulate bylaws
not Inconsistent with the provisions o
this act. the manner in which it'
stock shall be transferred, its director.
elected or appointed, its officers ap
pointed, it's property transferred, it,
general business conducted. and al
the privileges granted by this act Il
associations organized under it shal
be exercised aud enjoyed and it'
usual business shall be transacted a
an Office or banking house located il
the place specified in its organizatio,
certificate. = ..-..,rg ..st a. .a.
i Sec g. And be it further enacted
That the affairs Of every association
shall be managed by not lass than fiv,
directors, one of whom shall be tn,
president. Every, director shall, du
RUG his whole. term of service, be
citizen Of the United States and a
least threc-fourths of the director
shall have resided in the State, Terri
tory. or district in which such associa
tion is located one year next preceding
their election as directors, and be resi-
dents OF the same during their contin
uance in Office. Each director shal
own, IN his own right, at least teJ
shares Of. the capital stock Of the a.
sociation of which he is q director
Each director. when appointed or ele.
ted. shall take an oath that be will
SO far as the duty deyolves on hiu
diligently and honestly administer th
affairs Of such association. and wi
not knowingly violate, or willingl
permit to be violated, any OF the prs
visions of this act, and that he is tn
bona fide owner, in his own right, Z
the number Of shares Of stock requi
ed by this act, subscribed by him, Q
standing in his name on the books {
the associa ton. and that the same
not hypothecated. or ip any wa
pledged, as security for any loan 9
debt; which oath, subscribed 10y hin
self, and certified by the officer befor
whom it is taken shall be immediat,
i ly transmitted to the Comptroller {
the Currency. and by him filed an
Ipreserved in his Office.
II Sec. l0 Aud be it further enacted
That, the directors Of any assoeiatie
first elected or appointed shall hol
! their places until their SUCCESSORS sha