The Lansing state Republican. [volume] (Lansing, Mich.) 1855-1874, 1864-07-27

him. Shareholders may vote ~ proxy duly author
lied II writing bEi ID otcer, c.erk teller or book
keeper o such ASSOCIATION shall act as proxy and M
Shareholder whose liability > past due anl unpaid
shall Be allowed 10 vote
Sec II. AID Be- Il further enacted That the capital
stock of any association formed under this act saz
be divided INTO shares Of one hundred dollars each.
and be deemed personal properly and transferable
the books OF the association in such ruauusr as
may De prescribed IN the laws OF articles of asso
citation, and every person becoming q shareholder
BY such transfer shall IL proportion 10 hIs shares.
succeed 10 az The rights and liabilities o the uror
holder Of such shares and 10 change shall be made
IL the articles Of association by which the rlsht
remedies security OF the existing creditors OF the
association shall be I'M paired The sharehusIe Vi
each association formed under the provision II Ills
and Of each existnE bank or bank lng
that may accept tie prov slous OF tbs 4ct shall he
held individually respous ltle equally sr1 rt tfv
and rot one for another for all contracts d.bts
eIgaements u such association 70 the extent u the
amo4nt "a their stock therein al the par value there
of. 10 addition to the amount Invested such shares
except t4at sharelollers Oi any banking association
nov existing under State laws having not less than
i've miibons OF dollars OF capital actlally paid IA
aud surplus o. twenty per ceLtum 90 hand both q
D. determined by the Comptroller Of The Currency
s11 be liable Only 10 tle amount invested IL their
shares and such surplus 0i twenty per centun shall
be kept undiminshed and be IN addition 20 the sur
pg provided for 10 this act aud a. any time there
sAaI be deficiency in said Surplus OF twenty per
ceAll, tlc Sald banking association Shall lot pay
any dividends 10 rs shareholders until such ltl
cheney shall be made good; and IN case Of such den
cheney the Comptroller OF the Currency may compel
said banking association u close It, business all "a nd
up rs analrs under tie provisions ~ TN, act And the
Comptroller shall have authority withhold from Al
ssociston his certificate Authorizing the commence
rnent q business. whenever he shall have reason o.
suppose that the shareholders thereof have f0rmei
the sane for any other than the legitimate objects
contemplated by this act.
Sec. l3- And be Il further enG1od, That 70 snail bo
awful for any association formed under this act bv
rs articles Of association 10 provide for
Il its capital from time 10 time, as may be deemed
.xpedeat, subject 20 The Limitation Of this act Pro
r1ded That the maximum Of such Increase iu the ar
ices Of association shall be determined by the Comp
s-Oller OF the Currency; and II capital
shall be valid until the whole amount o. such increase
snall DO paid in and notice thereof shall have been
transmitted 10 the Comptroller Of the Currency and
his certificate obtained specifying the amount Of such
increase Of capital stock, with his approval thereof
ana that Il has been duly paid IN part OF The cap
TIA Of such association. and every association shall
have power by the vote Of shareholders owning two
this Of its capital stock, 20 reduce the capital of
such association 10 any sum not below the amount
required BY TINS act ~ the formation Of associations
Frorlded. That by such reduction shall its capitu
be brought below the amount required by this act
for its outstanding circulation, nor shall any such
ductOn he MADE until the amount OF the proposed re
ducuon has been reported 10 the Comptroller Of the
Currency ami his approval thereof obtained
Sec Il And b ifHrthsr enacted That al least nfty
per ceuIum the Capital Of every association
msnce business; and the remainder 0f the capital
80 "l susu 49, S"., g fal1 ll 'isl NETS
- a. iis1 .,u li 80 ''l ia. '-oc amount
y ~ ~ ~ =. se - =, nv . a. , '.I1
be authorized by the imptroller O. commence busi
ness anu The payment Oi each instalmeui shall lie
certified 20 the Comptroller, under oath by the presi
dent or cashier Of the sOciatiOn.
Sec 10 And be Il further cndcted, That II any
shareholder or his assignee shall fail 10 nav anv n
], u On 'o0 $50 w" V -iH' - le4uleu uH
We ol eeulNs - ',ot ~, - ~. - - : ~ s1ou
-, q liy Us - 90 ~ . - 80 ue.ini le"'
q PUN I-o'oe' Aa' rs even lAIee
+" y :, - - - - - , -, - =. 40 . =. "op-l7l P-"
Hsneu anu Oi Oii SuiA'ioA III lue o'y OF county
!" ue'o nc @iA'so- - .e-'ei anu /" 40 newspaper
= P-ollSiSi !" lu C.'' oi Oou" 'lleu IL ue"slA
pei n 4 ~ u ~ 70 aHy peisou VINO
w. " P-J -. - - - = .t - "a, lo' - VIAL
lIe amount l-leu Sue "l'n tHe expenses oi
'u anu s1e an slo e1Oess' Il any snAi
oe pa. - '1e 4-eI., sli IL no oSuer
can DC iOunu VII WIN pay ioi SUN STOCK the
AlnouH' % rus sliel eon 70 % sue anu me
Sos' % 1Sevi S, "a. 80 VIZ Aulo.-' pre-. ous
y pau snai oe 20 'ie aso0ialol ana suon
s'ooA sun Os so. a. .ne may Olueri "'nln
sA ulou's.S siyii '"o ',e S' 80 anu j
nor so'- y siti pe anu rom tne
O.'P''el 800 y. nv ~ s' 81 sueH eOlO1ila
tIou alu Ies,uC .'u s euOe ~ eap'Al Vi tue ~
soeAton peo" tiie l.-liuI m Vi W oapi1aI Iequre9 Dy
~ af'Sfs ias4t 'lt bs .heishs5i "
the requirements Of the act IN default Of which re
celFeI may oe appointed 70 close up the Duslcss o
tue association according 70 the provisions Of the h
'letA seotlou oi 'u4s act
sec Io AhH oe ~ urIheT e'idcted, mat every as
socallon, after haVng compned with the provisions
OF th's act, preliminary TO the commencement Of
oanSlng business uhaer lis provisions, and before II
shai oe authorl]ea 20 commence business, shall
insler am usi-'er 70 the treasurer oi the United
staIes any Ontel sIates registered oonfs bearing IN
tei.sl 70 an amount not less than tnHty thousand
loiA.s nor - su-n one lAlrd oi the ctlta stock
- M Nit'en "ynus Sii1li uo uepostol WIN lhe
AepI ia ms once un'H the same snah De otnerwise
ulspossu Oh IA pursuance ol the provisions oi thls
Act Anq 'e oeOle'4rt oi tne treasury j. hereby au
- - - - - 80, az ois1i 1Hs .Hiecu states eou-
pon oonus, ana 70 issue Ia Heu thereoi registered
'oaIs ol H"e AiLon' OeAiius IKE I-ie oil interest
sl- sue sale 'il-e % run aa' the aeposlt q
ooLts Slsl oe, % eFe9 'l7sDctlon increased as lis
- 30 i1S oS pa " " ele4se9i 30 tat every
-4'o- So q az -. ,l IA S e ol ue posit WIN thr
Ie~suIel leES'eIel CHilSu states ooncs 10 ths
=, d 20 vi - CApti STOCK act
LAIy ,y Palu a. 'ou.leu ma uotuIne 20 TINS section
10 49, - ~ I '..1' i5 -s9i - iS1y yce
~ eaiI'a Vi ~ 80 -P ,es ous'ucss anu ols-
Nv i's " IIo,i 1aAlus up lts ooAas upon
Ing - .iiI ~ S'iC1al.ug notes IL
.He P,oLo sol c''lhse ~ 'nls act Dor
\, -, u oy ~, oolea Ses ot one 1liTu
- % 10 eHl' $50 an stou "A'0" 10 circulating
Aoses s n-'e oesn usnseIGu-
SO gs Z s t-'sIe e''ioseu IL. whenever
- ,i - - '- - - y .,,e - - '-o e"H'P
O',e y. '.o =, az y. NJ ~ anu
= -, - - - - - - - IN "a ~ oaii-
,,' b a1 p'- "a - III ~ 'ru .ua' S1o.
- ~ - - 'i. -, 'si's ~
- - -. - - a. - - - -, .'. - -. - 81"
- i So - 'le oIsl-
- =, - - s.t. Is'
~ ~. - -. - "a IL .se al g 'y
'D - - - - - -. - si ~ - - - - Sp'
- -, -, - - - , -. -. - ~
,,l s,ocl- ~ ,h,.b .s,b ~ ,b - e. -, -
- = - ne az az
~ - -..o-,-,.--, - r. -, :. ...,tt-- :. " - -
e., :; - n'5s. - - :. y, -
~ NC ana s-ts-,ss br ~ os-b- ~ -
- -, 80, - - b,, H. 9-s1l,- "a. o-Syy
s,,,b sssocio,ion s,sfs-ner, ~ IN lie go -
ssrT T., sT.His he Corn',t-Ce- n setrr - - -
- .s.t = - Ii. - .s,l, =. - - - ~ -
oasi,ess os hsr.in- nn,,a1 tbissrt '-
Sec ne snJ - = f,,r,b.r sn1c,s5 Tls, . r,o, .
-,reSl sv,,,,-sso- - ,re go - ~
nv ofbs- farfs ybcb nav en- - ne - -
~ S-,,-Ii- ho1hs- - re,s - . $50, - -
-nissioT snnoin,d ~, bi-, fr ,bs --,osa - -.
- 80. ~ 80 - - - -
r. sbsiD Traa- ,bs, b sSsoi,S is ei'
led 10 con- r1srco ,be -sir.ss - 49,, - -
roller sbsi -, 20 s,,b $50 IT, = -,
fer Sis bsrsn o5~'sI - ths- - -
1as ror,nliat ,i,b ali rbs r-o,-,ss-s os - -.
,n-r, ~ he co,,r,,es vr,th bsfrs - - =,
'emTsrc ~ 5rsinss ~ bsT, 80 +, - -
,ecb .s-ocistion ie aftbori,s1 IN - 80 -,
- sc-i . "a !, sstI - - :. -, = .t
.oi,tc1 - -, s1S5 cs-f,,s - -
,op,s nevrsraDe- published in ths city or ct rvbers
h. assooisfi1n - lorsfes fo- a. Is- eiv,s- 80 -
,ftsr the issninr Thereof pro7lS5 maj = ~ 80
amer is nuhlisbes n snch ctv or eonrrv re s-ts