Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1898-10-27

dsa>s OF each Of its directors, and whether
such bank has complied with all OF the
provisions OF law required TO enttte II to
engage in the business OF banking. II
upon such examination II appears that
such bank is lawfully entitled TO commence
business, the bank commissioner shall
forthwith give to such bank a certificate.
under his hand and official seal. that such
bank is authorized TO commence business,
If the said bank commissioner has reason
to believe that the stockholders have
formed the same for any other than the
legitimate business contemplated by this
act, he may. with the advice and consent
OF the encouragement withhold the GER
tlhCate herein mentioned.
Section s The hank shall cause the GER
titlcate issued hereunder. to be published
in some newspaper printed II the village.
city or county where such bank is located,
within ten days after the receipt of such
certificate. If no newspaper is published
IN such county then such publication shall
be made at the nearest county seat Proof
OF publication shall be filed with the bank
commissioner.
Section 9 Whenever any subscriber for
stock, OF his assignee fails to pay any in
stalirrent on the stock when the same is
required 10 be paid hereunder, the directors
OF such bank may sell the stock az such
delinquent stock subscriber at puottG safe,
haNtns arSt given the delinquent subscriber
twenty days notice, personally or ny mail,
i, his last known address. II 70 bidder
can be found who viii pay for SuCh stock
the amount due thereon to the bank, with
pam shall be forfeited - the bank, and
such stock shall hc sold as the directors
may order, within SHY days rom the time
OF such forfeiture and II not sod, II shall
be cauG2ed and deducted from the capital
stock OF tho bank If sold any surplus
over the amount due on said stock 10 sald
bank. including the cost incurred thereon,
with interest ON the amount duo. shail be
returned TO the subscriber. ms helrs or as
signs, II such cancellation shall reduce
the capital of the bank below the minimum
required Inv Inv the SAID Clnltll Sn3ll,
within thirty days from the date or suen
cancellation, he increassu 70 the required
amount by additional SUBSCRIPTIONS IN
event ot the failure OF said bank 10 lnereas Te
such capital rs herein provided, the panh
commissioner shall apply for a receiver 10
close up the business OF the bank
Section ~. The affairs OF the uink Snatl
be managed by a board OF not less IMAM
three directors, who shall he elected by the
stockholders ana hoId once Tor one Sea.'
and unIll their successors nave oeen e1sSt,
ed ana nave quahtieu n hlaJollS Vi tne
board OF directors shaI SohSulale q IuH
rum for the trans4cUon OIL business! pI" Pc.
Nlued mat WheA tnS number Oh ufeS'o "
shall exceed mne, they may, once III SIN
months. designate by resolution, hlha
members, any nNe OF whom sAah Sons5-
tute quorum. IN the lirst instance tlS ~
rectors snail be elected at hl'eums mrrt,
before the bank is authorized 70 eomhehcs
business by lhG oank c9Al ,ii az ~
Afterwards al the annual meeNuhs o. Itie
q.
an election Is not nad AZ that ntseuuSh ~
may be had at subsequent meelliis calleu i
for that purpose, OF WhlCh Que notice snai ,
be given as proNlded IN inc pE-iaWs OF suGI'
bank. Every director snail t ,IE any su ,,3
scribe an oath that ne VIII ullESnlly AN. aaia
honestly perform his duty IN sueh oiiiee,
ana Will not Knowingly NloI8tS vi pc nv ~ q
VOCATION Oh any provision vi sHls az ,, s' e.,
ne IS the owner IN 5000 ta''n u st o ~, -,
sne oanh' slaHa.ns ~ us .,'tt's sH"n Iva
ooohs ~ tlt az h,,Is nor,n,issionpr and
aatsnlttGa " me oaiIn n'ra,,%W IN the
i hIeu IA ms otaDe' I'LL, Hms wv Hnei nv the
uoalI Va w - ai ,r 60, ,,,nnin,ei shall
poaiu aIu NY 49,, ~ olai,tton The Of
.i"iu oCt uiisa i'e i IN , ~e Si,,tnd Nv the
~ % w lin o,I hoiJ tbair of,icss fnr
uot' " ui 80 ,1,'n ,i,ir snrrassors are
o,le 80 a'tu ,, NM n',lass snonnr 70
eieeteS anu 4ha,,.tSIu ~, iiractnrs
nloNeu ny the poalu " ult ,u ,,,,, q
Sectioh H. livery patth sl i N NR;, =
STOCK DOOR Whch snal' a. a'l tl'les' ~, 10
the usual heli" Tor UaisaCtthG oH f,i,ss
De SUBJECT 10 tNe ulSpeStloh " ny o'i,Ss ,s'
directors ana StoSknolueiS OF tle panh Jain
Such stock BOOK small snow tile hai ne res,
dehCe ana NUMBER OF sudles h''u ps e''lt.
stockholuer. a relusal py tle o'lluC'S "
such oailN 10 SAIioli sucii 100 !" go
sol ilsi.lln'lS t t, ts;,,, 80 y for
tttt,' - 't sfto Sollors IN an actions
,'its 80 ,,,,nrssaaingS Snch hook shall he
suns anu Ia oNSS,A''o'' .1s.,,z;,.