The tri-weekly standard., 1866-06-14
The N. G.. Banking Law.
AN ACT TO ENABLE THE BANKS OF THE
STATE TO CLOSE THEIR BUSINESS. y


AN ACT TO ENABLE THE BANKS OF THE
srA1,E To f,IOSE THEIR RIJSINESS
~ IN ~, ..o, IL. 49, T",,
WHEREAS, Inc nhahciai poLcy VI Inc Feoerai
Government adopted 10 haintin tie hatlohii %
credlt, with the nSaVy taxes thpoeeu ny iial GoF-
ernnent on the Banks oi thS otale' makes IL an
soIutely necessary that saiu Salihs siouiu close
tnelr business, ana re.ieas eol.inu u 'ce nee
OF their corporate existence lule ana useless 10 the
people of the state, -
Section l. BE u e'tacte0 oy tte Te5sefa1 ASSenoty
9J TIE State Of Nofh- C"foenTo, or" u ~ Hefe0y
er0ctea 6y the duh'uy % ne SoNhe, lhaI II tiic
Stockhoiders OF any OF tne Diuhs Dy !ie
Generai Assembly oi LIS o.atS sii..i' oe uI"lihs
10 close the business Vi Iloii DanNs oy an "ssSh
ment, and are deslrouS TO All tne estate
ana effects OF sucn Daih ioi te ~ penenI @ VI i've
creditors, and TO close It's BUSINESS a.o SURRENDER
their chartered rights ana lr'llcnises III coniorm
ty with the subsequent PROVISIONS OF thls act,
such Stockholders may pS .iti, pti III S4ut'y m
te name oi saci p;, niiiN . iI D. VI ~
OF Inc county III WHICH ,io Sp lam m vi .'Iy
OF It's branches may oe ioc.teu, ieiuiie tue cieuE
tors OF such Bank 10 prefer anu estaoliSil theH
ueulahds within sue! atS " hn '','i Ia ',S
months after decree thereior) as Snail De allowed
by the Court. The Court shai upon ming such
bill appoint as commissioner suitable person
acquainted with the business Vi S"cm bahh, VINO
shall be paid los his services sucn sum as may DG
allowed by tne court SUN Soiiiissioiei snaI
give bond with ample seeurltS' payaoie 10 tne
State Tor the lIiul @ uise,S VI ~ ms uutes Isl III
such sum as snali pe 'tPp!o'e oy tie couI',
Whlch Dono St'ii pe ,itoa -, IL ] 80. t az M ay ~ ~. ~
sued on lor tne use VI s"eA pei''ii' ' 'i'o 'o'i
may G ai!o"i r. il ,,,t5er euaetea That the commits
sloher apPoihtco ID Im f.t,iffn h' ~. I s
IeqiIea oi NH NH ti,n s1,c,, Iisni1nar onS
ioS i' as e Snm i've vnstcd with ali the estate eff
ro ,;it 81 E o+ion yrbirf sncb Rnrl, ,,osses
lccte @ @ anu ,Id T nv ~ 80 vrstrd Win nt th. tine
of iiIi,@ such bill and viii, such Bank could at
th,t ti,c hav,. lawfully sold assiyncl or trans
@ rI - ;i,'a;,,r iii dnStc dna tn si1ch i3,nl, or tn
,,, r,r =. us,. mud III liens and securities
any person & roa ioS t av rnn,,irs sIrn Rank by
its Cashier or other proper officer to endorse
snch cbncl,c or orders for money and execute sucl,
othnr nnnrr writings as the court shall deem ne
cessary pr usefuI to enable the commissioner to
drnaTd or recover and receive tho estate and e.
fnct of sncb Rank for the benefit of its creditors
The commissioner shall have the like remedy to
recover and receive ali the estate debts and effects
hnI0nT;nr to surh Rank nt the time of filing its
hiII t si7ch RAM, ni.rht have had if no proceed
in,r, Tod hncn had under this act: and should any
-, pnr,( b,xa ,n,lIr any sale or transfer of its
nronartv or Elects fraudulent as to its creditors
Int y,Iid a. h.twrrn the Dartius in such cases
uen @ 5 , rncnycr and receive sucb nro
clotti'oI ;, M '' ny IA t, So5 or trons ferred
PertS P"t,S vi enu I 81 "ouid not bave done so In
ii -, ~nasanmtad hv sncb Commissioner at
All suns Piosecutou y! 80 80 - ~ ~ ...SJ - IT,
III" OF III hlul3 tiS pc; tIntn ~, ,ssrna of 4i,e
iis ConSsnJ,i b. t0r r.,i.h he has hecn annonted
particular Danh io' ".iiS1: S ~ ~ - 80 i' e ,:i;
tue CoiLiuiissiouei' " 80 - " -; ~ -. r -
sucn oiii ~ ~! n;,,' Ill ho ,,.n,I;nr in tin
uoIo'i vi III, Ran ~, thr the recovery OF any estate
na,tie vi sun A ,; n ;,t ~ r,u,,ht to he vcsteG
i'h M C,,,ni.Sinncr sl7iorcsaid SINGH Commits
- $50 80, Ill h.. I'd fnittrJ Eo nroserute the same i'm
ILL 'r o,I to liz rft,act. ard no spit nend-
NM mn II. i M -, 80 - th. raco,.cry ,,r any estate
my 1T any tiliIe oi Inv ~ III, tn,;niSsinn'
1cot i VI iItd "a hr thn d..th nrramoral of such
=! " sii ue W., ~ "nn,,,;Ssinnart r., h. o,,,,oint
CoiiiHllssoH.i, 49, 1 :: L;, =, -. ,.o,o;5.aa Sh,I
Gu IN such S"sc H - i. ~. 60 r. -; H.. rI,n,nr
De 'tiinteu so Us - tt go I', i,eo, nrir;n
ai,S. anu o,aanne.d 10 nino hS hi,n
any conhehceu oy nini. That +bo co,,-,is
sec d; De I. n,ete, % tt .,; -; 80 ] Wy 80 rith
soner aforesaid sh'i III an .Li t
the discharge Oh his uu'ies as ni . ~ ~
under the oirecto anu o'oeis i ~ f' .rv ~ r >
IL any sucn Comhssionef Sill iellsc - ~ u,,.i i
sonably delay or neSect 10 HpeS amy Luie' 1fus tt
or decree OF the court II shai! pe the uuts vi the
court to remove such Commissioner; ana upon
such removal or upon any vacancy oy oeatl VI
otherwise, the court snail appoint some 1tne5 5
person Commissioner, VINO snail enter INTO mo oonu
in such sum as the court sii'iil direct III IKE man
and for the like uses ana purposes rs proFiueu
in cases OF the commissioner hrst aPpoin.eu'
and thereupon all the estate, properly, cnects
debts and rights OF action vested IN suGh biiih
after the time OF ming ts pi noI oeiore I 5
disposed OF py any iorniei JIM i ; si", o
forthwith vested IN sucn new eoinliissioher @ @ Is
legally ana eliecI "a II ny ,,i'a Iii hi h
missioner Hssu NV f,er army on'missioner or
inc power ~ icquiit my NY ~ Se.od al,,,,,";rs;onar
the representative Oh amy aeSs,sGu ,ii @ s',
10 suEfenueI W such ne" ~. eCiiii , et y 49,
estate, effects, money or evidence OF deot Mmea en-
of right should ne Ill the hahas of Possessioh vi
such new commissioner.
Sec ( Be it further enacted That all demands
of creditors may be preferred and proved before
such commissioner, and for all purposes connect
ed with the investigation Of the demands of any
person claiming to be creditor as aforesaid, the
commissioner shall have power to administer all
oaths required in the course of such proceedings
ANY supposed creditor whose claims shall be
wholly or in part disalowed by any commission
cE may appeal To the Court, where the same shall
be determined according TO the course of the
Court decided at law as the court may direct
and in all such appeals the case shall be docketed
in the name of the creditor against " The Com
missioner of -" (adding the name of the Bank
of which he is commissioner and shall be tried
and determined like suits between other parties.
n all cases IN Wlch any suen co,n,ssio'e a s ~
DC party, It P..1iItat LII VI 49, tmnI cred;t
sial aPlH ~ D., D. ,S o,,aI ~ -. onrnorot;on or
given py tne Da.h ano any otel ~. .oi N ti 90 M
any person VINO is.the oPposile parry VI 1ht
mutual deots Dei%een Inein, wneaner suGn .a ueo.e
De que anu PAY pay ne ot t' no. I 'S a dh+ boII ha
M lle pa pa ;nt oie % t otha n ~ o hIance Of sucb
seC on asai,s. t o.ei M @ anu Ss @ ;d ~ eitheir
! oiity sn @ n5 4h oat W IN aii cases shall
slue t @ 'ae ~, Iosta t AZ ~ LII diraot
0e pald ny eltel party as tne cou,e 81 t;,o ~
Inc m rtin small from on al J Claims ,T
Pare pa III N haso ~. a nc cI.ims and
oy nlili ny n 49, VI idt T.; hosad
lne eNluenIe III o "nicn Iiiei. ra2y ~ ~ 20 IDS i;
the hands of such commissioner to the satisfac-
ton i'm whole or in part of any claim whatever,
except under rule or order of the court there
for.