Litchfield enquirer., 1864-08-25
WHOLE NO. 2O49..


 in accordance with the now existing charter of such bank.
 SEC. 5. If any increase of it's capital stock shall have been made by any such corporation during its existence as national banking as- and upon resuming its powers as . bank of this State, shall reduce it's capital stock to the present amount thereof; providcd. that no bank shall be required by this act to reduce it's capital stock below one hundred dollars,
 If the shares representing said increase of capital shall then be distinguishable from the shares representing the present capital of said bank, an equitable appraisal of the value of the shares representing said increase of capi. tai, shall be made in such manner as the di. rectors shall direct, and tbe value of said shares as fixed by said appraisal, shall be paid by said bank to the owners of said shares, and said shares shall be extin- guished If said shares representing said in' crease of capital shall not then be distinguish able from the shares representing said present capital, an equitable appraisal of the value of the whole capital, per share, shall be nlade' in such manner as the directors shall iirecti and the number of shares of said whole capi- tai held by each stockholder shall be, by order of the directors, proportionally reduced to such an extent as to extngush the whole of said increase of capital, and each stockhOlder shall
 be paid by said bank the so appraised value ot
 the shares taken from him in effecting such
 reduction of al.
 SEC. 6. Every such bank of this State shall,
 notwithstanding the general suspension of it's
 powers provided for in section second of this
 act, continue to be a body corporate, for the
 term of three years from the date Of said sus-
 pension, and until the termination of all suits
 then pending in which said bank shall be in
 terested, for the purpose of prosecuting and
 defending suits by or against it, and of closing
 it's concerns. but not for the purpose of contin-
 ung under the laws of this State, the bust.
 ness for which it was established. ! SEC. '. Every bank of this State which
 shall resume it's powers as bank of this
 State, after having been and having ceased to
 be national banking association, shall thefea
 upon make ont and deliver to the bank com
 missioners, and duly publish in q newspaper
 of the county in which such bank is located.
 such particular and detailed statement, under
 oath, of it's condition, as it is now required to
 make out and publish quarterly and such bank
 shall thereafter continue to make out and pub- i fish similar. statement quarterly in the same
 mauner in which it is now by law required to l do so, and shall continue. as new, subject to
 examination by the bank commissioners and
 to the control of the superior court, and shall
 be and remain, in all other respects, subject to
 the legislation of this State, as fully as it is
 now subject thereto.
 SEC. 8. In all cases where this State, or Any ..cbaritable institution, association or incorpora- lion now 1o!.sal oalds stock not transferable in any bank now or heretofore d1dolng. ds business under the laws of this State, if such bank has do. termined; or shall determine, to become a na- tional banking association, such bank shall give written notice of such determination to he treasurer of the State, or to such iustituss ,ion, association or incorporation, as the cusu nay be, which notice, in the case of any such bank already organized under the laws of the United States, shall be within twenty days afs. er the passage of this act. aqd in the case of any such bank which may hereafter so organs ze, shall be gi iven within ten days after said bank shall have made it's said determination md therenpon the State. by it's treasurer, Of otheI owners of such st0ce, as the case may De be. may, within thirty days after the receipt of said written notice elect, by giving written notice to such bank. to continue to hold such stock as transferable stock, not differing in any of it's ri5hts, liabilities or properties froai the other stock of smch bank. and to hold the same after the proposed change shall have been effected, as stock of the proposed nation- al banking expectations; and thereupon such 1dUh SLdl CuQHO SuCu oIOCh do pdfC ui ftS EGA. llar capital stock and such stock shall be deemed for all purposes, thenceforth, regular capita! stock of said bank. If said owner, or owners of such non transferable stock shall net, within said thirty days, by giving said written notice to such bank, so elect to hold said stock as transferable stock, and to bes come stockholder for stockholders in said national banking association as aforesaid, then, at the expiration of said thirty days, said owner or owners shall be entitled forthwith to receive, from said bank, the par value of said stock, with interest thereon from and after the date of the last dividend which shall have been beietofore declared by said bank and said umount shall be debt due and payable to said owner or owners from said national banking association, until paid--to be recovered in an action of debt or any other proper action, instituted in the superior court Any bank of this State which shall refuse to permit any of the provisions ofthis section to be carried into full effect, shall not be entitled 10 the benefit of any the other provisions of this act.
 Sec. g. Any bauk heretofore existing and doing business under the laws of this S,ute, and which has already organized. or may here. after organize, as banking association under the laws of the United States and elects to accept the provisions of this act, shall notify the comptroller of public accounts of such e. lection, in writing; which notice, in the case of any such bank already organized under the laws of the United States, shall be given with in sixty days after the passage of this acti and said notice, in the case of any such bank which may hereafter organize under the laws of the United States. shall be given within sixty days after such organization ana any such bank failing to give the notice preserioeo in this section. or to comply with any ol tIe provisions of this act applicable to such bank. shall upon becoming national banking asso- citation. be deemed to have surrendered is charter' and the same shall pc thenceforth con- sidered as revoked, except so far as the same shall remain in force by virtue of the sixth section of this act.
 Sec. 10. No corporation which has been ( bank of tbis State, and has become national banking association, and no corporation, nov being bank of this State, which shall bereaf. ter become national banking association, shall, at any time while it exists as national banking association, issue aud keep in circula- tion bills issued in it's name as bank of this State, to an amount which, together with bills issued and kept in circulation in its name as national banking association, shall exceed tne aggregate sum of seventy five per cent, ..s