The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1897-04-08
NEW LAWS.
TERRITORY or OKLAHOMA.
SECRETARY IS OFFICE.

GUTHRIE, r.. March 25 1897 \
do hereby certify that the annexed page.
House Biz No. POO. as passed by the Fourth
Legislative Assembly of the Territory of
oklahoma. and approved 10y the Governor
March ~, 1897
In Testimony whereof. ] have hereuntc
set my hand aud adXed the Great seal of
the Territory the date iiTst 81 above written.
lsFALl Secretary Of Oklahoma Territory
hOUSE Bit NO goo.
An act Ia relation 10 banks and banking.
creating banking board ana defining rs
powers and duties, providing Tor the in-
corporation of banks. defining the duties
of banks and their Onccrs. hxiup Hablli
ties of sto, Tholders and OmCers. uNinp
amount OF capital stock; prohibiting Ger.
tain uses of capital stock and other assets.
pioNldlnR Tor receivers OF insolvcnt banks
aud defining their duties. creating bank
examiner, defining his duties and fixing
his com mpcnsation cNempting banks from
attachment and execution aud recurring
persons now engaged iu banking business
70 conform 10 the provisions of this act and
liking the time therefor
BE IL enacted by the legislative assembly
OF the Territory of Oklahoma.
Section !. The Governor. Secretary
Treasurer. Auditor and Attorney General of
tbis Territory shall be. and they are here
by made a board which shall be designated
and known as the Territorial Banking
board, OF which the Governor shall be Pres
ldent the Auditor shan bee Vice Pre- esident
snail be Treasurer and the Attorney q General
us Acting Attorney; aud a majority OF the
members of the hoard shan constitute a
quorum; ana shall have control Of any and
an corporations partnerships firms and
individuals and any and All associations OF
any ana al persons engaged In trdnsaCting
Territory.
Section @ No corporation. partnership.
hrm or individual or any association of
either any or an of them. shall be permitted
20 engage in, transact or carry on any bank
ing business. nor engage In any business by.
or IN which shall be received any deposit or
deposits. either m gold. silver coin certiu-
Gates treasury notes gold or silver Certin-
Gates or other thing used and current as
money for the purpose of loaning the same,
without being FIRST chartered and inCorpor-
ated as bank under the provisions of this
act: Provided That 10 shall not be- neces-
sary Tor any banking institution now en-
gagged i'm the banking business 90 incorporate
under this Act but in am other things such
banks shall De governed by the provisions OF
this Act, ana make the showing required of
banks making application for charter.
Section 3. Any three on more persons "A
majority OF whom shah bc residents of this
territory may organize themselves into a
banking association aud be incorporated as
bank and shall be- permitted 10 carry on
tht business of receiving money ON deposit
either with or without interest ana of buy
inf anu se4linH eNchdnee, gold, silver coin
bullion. uncuirent money bonds of the Uui-
ted states. or OF tnit Territory and of cities
counties and school districts therein. aud
district or other municipal Indebtedness. of
loaulnR money on Chattel and personal see
tufitl ana 20 own suitable building, furui-
ture ana hNtures for the transaction of its
section Before the charter of incor-
pOrdtlOu provided for iu section shall be
Issued, sat siactory application by articles
Of incorporation shall De- presented and nlcd
with the clerk of the Territorial BankiuC
Board. setting forth First The name OF
the proposed corporation which shalt De a
dihercnt name from any corporation here
tOfore Incorporated in this Territory and
no Incorporation shall hereafter be iucor-
porateu under name similar to ore then iu
use In this Territory. Second. The state
menl OF the object AMI purposes of Che core
poration, Third. The uame of the city or
town dnd county ln which the corporation
Is to be located Fourth Tile amount of The
capital STOCK the number OF shares lnto
which u u divided and the par value of each
share. which in no case shall be less than
htty dollars fifth. That AN the shares
have been actually aud bona Ide subscribed
ana one thito OF lhe par value uf each pdld
up iu lawful money % the United States OF
It's equivalent in bauEahlc uoiea or seCurl-
ties actually worth face value. and the
same IN the actual possession or control Of
one or more Of the persons named lu said
articles of Incorporation a. director. giving
the name on names Ol hucn person OF ucT-
sons Sixth The names and places Of resi-
dence Of the several holders OF 2nd subscrib-
ers % the stock of the corporation. the mum -
her of shares taken bY each. the par value
thereof and the amount OF cash money paid
thereon seventh. The names ana places Of
residence Of the persons agreed upon as for
directors tor the first year and the number
Of shares oi stock held by each Eighth. The
length OF time tne corporation = "a continue,
which IN no case sndll exceed hfty years
Section ia addition 20 articles of intor-
Dordtiou. there shall also be presented 70
and bled with tue Territorial Banking
Board one oi the Two original subscription
lists Of Agreements 10 take stock signed ana
subscribed Ia person by the party agreeing