Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1898-10-20

oenSS or each OF Its directors, and whether
such bank has complied with all OF the
provisions OF law required TO entitle Ii to
engage in the business of banking. III
upon such examination Ii appears that
such bank is lawfully entitled 10 commences
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,
Ii the said bank commissioner has reason
10 believe THAI the stockholders have
formed the same for airy other than the
legitimate business contemplated by this
act, he may, with the advice and consent
OF the attorney withhold the GER
tihcate herein mentioned
Section s. The bank shall cause the GER
thcaie issued hereunder 10 be published
IN some newspaper printed IN the village,
city or county where 81 en- bank Us located,
within ten days after the receipt OF such
certificate. II no newspaper Is puhlsheu
In such county, then such publication shail
be made al the nearest county seat. Proof
OF publication shall be filed with the oanx
commissioner.
Section o Whenever any subscriber for
stock, or his assignee. fails 10 pay any in
sta!lment on the stock when the same IS
required to be paid hereunder the directors
OF such bank may sell the stock or sueh
delinquent stock subscriber at uuhlic safe.
having first given the delinquent subscriber
twenty days notice, personally or by mail
at his last known address, II no bidder
can be found who viii pay for such stock
the amount due thereon 10 the bank, with
any cost incurred, the amount previously
PAM shall be forfeited 10 the bank ana
such stock shall be sold as the directors
may order within sixty days from the time
OF such forfeiture, ana II not sold, u shaii
be Cancelled and deducted from the capital
stock of the bank. II sold, any surplus
over the amount due on said stock TO SAID
bank. including the cost incurred thereon
with interest on the amount due, SHAH be
returned to the subscriber. his heirs OF as
signs IL such cancellation shall reduce
the capital of the bank below the minimum
required by law. the said capital shall
within thirty days from the date or such
cancellation, be increased 10 the required
amount by additional subscriptions In
event of the failure of said bank to Increase
such capital herein provided, the bank
commissioner shall apply for receiver 10
close up the business of the bank.
Section TO- The affairs of the bank shall
be managed by board OF not less than
three directors, who shall be elected by the
stockholders and hold office for one year
and until their successors have been eject
ed and have qualified. majority OF the
board of directors shall constitute a quo
rum for the transaction Of business pro
yided, that when the number OF directors
shall exceed nine, they may, once IN SIX
months. designate by resolution hlns
members, any i've of whom snail consul
tute a quorum In the first instance the dl-
rectors shall be elected a a meeting held
before the bank Is authorized to commence
business by the bank commissioner, anu
afterwards at the annual meeting OF the
stockholders, TO be held during the month
of July or January, and II TOR any reason
an election is not had al that meeting u
may be had at subsequent meeting called
for that purpose of which due notice snail
be given provided In the bylaws OF such
bank. Every director shall take ana suo,
scribe an oath that he VIII diligently ana
honestly perform his duty IN Such ONCE,
and viii not knowingly violate or permit
violation of any provision OF this act that
he is the owner in good taith OF STOCK IN
the bank, standing IN his name On u ne
transmitted to the bank commissioner ana
filed IN his office. Any vacancy IN me
board of directors shall be ulled by me
board and the director so appointed shali
hold office until the next election, Inc Of
ficars of the bank shall be elected by the
board of directors and hold their Offices for
one year and until their successors are
moved by the board of directors.
Section H. Every bank shall keep
stock book, which shall al all times, during
the usual hours for transacting business,
be subject to the inspection Of the officers,
directors and stockholders of the bank
Such stock book shall show the name, resi-
dence ana number OF shares held by each
stakeholder. refusal by the officers oil
such bank to exhibit sucn book to any per-
son rightfully demanding Inspection
thereof, shall subject such officer to FOR
fixture of fifty dollars. In all actions
suits and proceedings, such book shall be
presumptlve evidence of the facts therein
stated.
and shall be transferred on inc uoohS oi
the bank in accordance with tne lhethoa
provided by law for transfer OF STOCK II
corporations.
Section Is. Az all stochholIers heeLmlss
each share OF stock shal entltie the owner
of record to one vote. stockhol1er may
vote at any meeting OIL the sloc hnoiu5Is "
proxy. No preslneht OF Gasili'' S"a" az
as proxy tor any stochhoiueI. r,,
Sectloh ~ - DAMN mag an.v,r ~, 81 w.,
cles OF dsaoC!at'oit az dti5 - ~ 80 -
CONSISTENT WIN VIZ ~ ~ ~ 80. .ai,hoidsrs ,an
any tiihe' py w VI 70 I'LL 9,oct
resehlHs t"V'tHilIs VI wy ollfi,'', caiIa.
such vote 10 oe Iast'l a. . ',h . ,,a,,d'
Tor that pu5PqSt. a CopS ~ 80, 80 re sb.
tneht, Ger ulSi ~ ~ piI ~ tiolas -,
lei shdll pe my az 49, - aTitaI sbaIt
incorpoi dtlonI - ,s,l, t 49, 80 baa,
De NdliI uttli 5ie a'i',' iii.' ~, - Ne 20
suoscIloeq aItG 1ot h3iS ~, n,ad 20 n Lose
ductlon q CdP'ai s ntit We 80, "a ~ ,'r,',is-
amount thau = lequlien Hi' ~. IL TIA III ~.
ions oil 'hlS atL 10y V"l H,ai' ~. ~ tiS
warrant tut ~. e.i" l'on " a. ttit, nt
Gates; OF uIii'nlan w PEI 5,i,,'' w. 6as,,
stoekhoi9Sra' uil'il sun -, ~, s,'' Sou
appro'tt ny ~, 'al,N ''r - t,ji,,s, 10
approval mus ps UaseI itt, 80
nun ina the l,y ia T bv ne nennosed
Iloia " 81 "'' "' "'"'''-N -
iesuNt'g" IL h,,,L NAV, nurchase hold
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