Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1898-08-18
CHATTER II
HNxs


CHATTER II
nANzz
SFo1soS T. Any number Of aduit residents d
Wisconsin 400 3ess than three. may associate n
( establish a bank undar this act uT,on the term
aa1 conditions and subject - the liabilities pre-
ser.heti in this get Zee aggregate amount Of thf
Z capital stock 81 amy bank shall not be less than
ten thousand dollars 10 villages or cities having
less than two thousand inhabitants. and shall mol
BE- Tess than twenty thousand dollars III Villages
] or CITIES having more than two Thousand and less
4 imam six thousand inhabitants; and shall not b.
! less than iify thousand dollars In any village o.
| city having more than six Thousand Inhabitants
| according O. the lasf official census.
| Section The persons associatng shall
| MAKE. sign and acknowledge written articles Of
] incorporation containing;
| First. declaration that they associate for the
! purpose # forming q banking corporation under
Second Tie name # sueh bank such name
| shall be Ia 10 material respect similar 90 the
! name IT ans other bank il the same county.
| whether such other bans be organized under this
act or under the laws If the tinted States
| Third. The village or city and county where
| such hank Is t0 We located
Fourth The amount Of capital stock which
| shall be- divided into shares of not less than fifty
/ nor more than one hundred dollars each
fHth. The period for which such bank * or
/ gained not exceeding fifty years
SECTION Such articles 81 incorporation shall
| he executed IN tripiieate, one Of which shall be
recorded in the office Of the register OF d-,ls In
the county III which the bank Is located ono silgli
he filed 10 the Office 81 the bank commissioner.
and one shall be filed IN tie office n tt4 ...-
tary of state
SECTioS I Upon making and fns IL the arr
tices II Incorporation the bank shall la.s,tu a
body corporate and a. such shall have thu fol-
lowing powerS.
Frs 10 mae an contracts necessary and
proper g efiec its purpose and conduct It's busi-
Second To sue and be- sued, 10 appear aud de.
feHa IN an ac' 0ns and proceedings ;in1er III cor
p0ra;e name 10 the same extent AZ a natural
person.
Third. II have common seal and alter the
same M pie sure
T0urth ~ elect or appoint an necessary Off
Gers agent ard servants. define their duties and
obligation fix their compensation dismiss them
Gil yacant IS and require bonds
Fifth f. make amend and repeal by laws and
regulations. not Inconsistent with law or its arr
ciss of or sanzation for it's own government far
tie or.il Il conduct 81 is affairs and the manage
meut of its property for determining the man
ner If calling and conducting its meetings the
tenure ~ office Of its several officers: and such
uIherS as shall b. necessary or convenient for The
accomplishment Of rs purpose
sixth. 20 exercise, by its directors. duly an.
thorz.d officers or agents att slch movers ~
shall he necessary 10 carry on the business ~
banking by buying disc0nnting and neroffatlps-
promissary notes. bonds drafts bills of exchange.
foreign anil domestic and other evidences III
debt by receiving commercial and savings de-
posts under such regulations a. it may establish.
by buying ana selling coin and bullion. and by
buying and sriling exchange foreign and foues
tie; issuing letters Of credit and nv loaning
money on personal or real security as provided
hereinafter
SFtfioN :. No bank shall transact any hisi.
ness EXCEPT such as is Incidental ,,r NECESSARILY,
preliminary 10 its organization until il has been
regularly authorized by the bank commissioner
to commence the business of banking
SECTION The subscriptions to the capital
stock and the direction Of the affairs III the ror
poration prior to the election 81 ,iirertors shan
be in conformity with the statutes of this state
relating 10 corporations, regulating Siich matters
- far, as applicable At least fifty ner cent ~
the capital stock OF every bank shall ba maid in
in cash before il shall i've aut horizad 10 ,,,1,,aps
t.,saf aat.Vf NJ. .e.t
bank shall be paid in, in cash. in monthly INSTALL
ments of at least ten per cent ON the whole Of
the capital. payable al the end nP each succeed
ing month. from the time il shall he authorized
by the bank commissioner To commence, business
and the payment of each installment shall he Ger
titled to the bank commissioner, under oath nv
some officer Of the bank
SECTION i. Whenever articles OF incorporation
are fled with the bank commissioners as herein
provided. and the bank transmitting the same
notifies the bank commissioner that nj least fftv
per cent of its capital has been duly paid in and
that such bank has complied with ali az the pro
visions Of this act, required before the bank shall
be- authorized 10 commence business The. bank
commissioner shall examine, into the. condition nj
such bank ascertain the amount of money nan
IN on account Of its capital the anls and place OF
residence of each of its directors and whether
such bank has complied with. ALI of the provisions
Of law required ia entie il to engage in the blS
ness OF banking II upon such examination IL an,
pears that such bank is lawfully entitled to com
mencs business. the bank COM issioner shall
forthwith give to such bank certificate under
his hand and official seal that surh hank i an
thorized 10 commence business If the said bank
commissioner has reason to believe that the stock
holders have formed the same for any other than
the legitimate business concentrated by this ACT
he may with the adv ct. and consent Of the attor
ney- general withhold the certificate herein men
toned
SECTION : The bank shall cause thu. ,e rtiticate
issued hereunder to he publIsh,sd IN some news
pap4.r printed in the village Citv or county vher,.
such hank. il located within ten DAVIS after the
receipt Of snch certificate IL no newspaper II
published In such county then such p,ibIication
shalI he made al the nearest county seat Prnof
Of publication shallabe fled with the hank com.
missioner
mSrfvr1oSn NhanAver any, s,,hscrilar f,,r stool,
or his assisnae fails tn nav any instalin,art ~,
the stock when the san,e IL ra,;,ral 70 10 ,,aid
hereunder the Directors ~ such hanl mag s..li
the stock ~ sich delino,s,t stool snhssr;b..r ~
,uhlir sale having t,rst aiysn ~, J,,,a,,t -
srrihar twenty daVs' not{a ,,arsnraIl, ~ ~ n,ii
a. his last knoSyn addrass ~ ~ h;ld.r "a, ~,
fonnd who will nav Tor s,,h sfo.t the are,,,,nt
,ins fhereop IN tbe bank With anv 49,, l., ,,rri
ths amount praviousiv Y,aI1 shalI ~ f,rsstnJ ~
tha hanL ana such stSck shall Ia sci5 o. ~ a
1890 ,,,at orJ.r ,,sith;, si,,, Sa,ss go, ~
tt,,. - - s,rf.it,,r, an1 ~ -, -, !, ~ n ~
ran.als1 IA ds,i,,ctsd srr,,, - ,a,,;tai 80. ~
az 49, - s,iS 49,. ,, ,ps "a, ssuNS y.
A.. -. - "a 49,, =, "a 49, ;,,; .1,
n',,rraJ tbaraon I'll, intar,s, ~, ti,e a,,st
~ ~ ~, ~. "A ~, =, ~ , ~ ao aiio. s
~ assis i, , raiIa,i ~ ~ AZ Ne