The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1908-11-02

/ Against the amendments OF sections
4, D. 10 ana II OF ,he general banking
| law " and 1t shall be the duty OF the
officials now required by law TO print
and distribute ballots for use In cleo.
! tons to prepare and distribute ballots
for such submission, such ballots 10
be prepared, printed and distributed In
accordance with the provisions Of an
Act entitled, IAN Act 10 provide for
the printing and distribution OF bal
lots AZ public expense, and for the
nomination of candidates FOR public
offices, 10 regulate the manner OF hold
Ing elections and To enforce the
secrecy of the ballot" approved June
-, 1891, in force July !, 1891 and an
| amendments thereto, and "a do all
such other acts rs are required by
law; and If approved by q majority OF
al The votes cast 1T such election for
or against stNh law the Governor
shah the.eunon issue his proclamation
| that this Act is then In force
| First The amendatory act adds to
| section the provision that director,
! IN addition TO the oath now prescribed
| to he taken by him, to take an oath
| that liz will, so far ms the duty de.
wolves on him, diligently ana honest.
~ administer the affairs OF the bank
OF association OF which he IL dlrectog
and that he viii not violate or win.
ingly permit 10 be violated any Of tho
n mt hnt tya fo ~
owner In good faith and in his own
right of the Number of shares of stock
required by this act and that the same
Is not hypotheeated or in any way
pledged as security for any loan or
debt.
Second The amendatory act adds
TO section 4 The further provision that
the oath. subscribed by the director
making il ana certified by proper
officer authorized to administer oaths,
shall be Immediately transmitted TO
the Auditor and shall be filed ana pre-.
served by him in his office.
Third. Section Of the act as ID |
now stands provides that any omis. |
sion to elect directors shall not i'm. |
pair any of the rights and privileges
Of the association or of any person In |
any way Interested. hut the existing |
directors suall hold office until their
successors are elected and qualified |
as Ia such cases may be by by- law |
provided The amendatory act pro
i!
rtptors shall not impair any Of the
rights and privileges of the ass lpiil.
ton or Of any person In any way In.
telested but the existing directors
shall hold office until their successors
are elected and lnalhed rs in such
cases may be by law provided.
FouGth Tue amendatory act adds
10 said section the provision thai
every director Of any bank or asso.
clation organized under the provisions
OF this act must own IN his own right,
free OF any lien or Incumbrance, at
least ten shares Of the capital stock
pf slieh bank or association OF which
he is director, ANY director Wllo I
ccases TO be the owner OF ten shares
OF the capital stock OF sueh bank or
association or who becomes In any
form disqualified shah therefor vacate
bis place &s such director
Firth I've amendat0ry act Cur
thet adds to sail section the pro-
'Islon thar the directors OF any bank
u association organized under the
provisions OF this net shall hold regnl
ar meetings Mt least once each month
md there SHALL he present a quorum
Is may he prescribed by tue BYLAWS
VI such bank or association. approved
- the Auditor Of Public Accounts
Sixth The amendatoryf act further
dds TO said section tue provision
hat any officer. director or pmploye OF
my bank or association organized un, ,
Ter the provisions Of this act. who ,
hall wilfully and knowingly subscribe
o or make, Or cause TO be made, any
alse statements with intent to de.
Give any person or persons authorized 1
% examine into the affairs of such
ank or association upon conviction
hereof, shall he punished by i'm.
risonment az not less than one year I
r more than ten years.
Seventh. Tie amen'iatory net adds !
, section . the provision that the 4
udltor of Public Accounts. before = :
lhg written or printed certificate IN !
"a seal authorizing the directors 10
pmnlcnce BUSINESS must he satisfied 7
nj the proposed surplus ( any. has ,
cen dedicated - the business. @t q
Eighth. The amendatory act fur.
her adds - section , tie provlslonI !
rat the Auditor may in his discretion
'ithh0ld the issuing % said certla =
ate authorizing the commencement
business when be Is not satiiird AZ
, the personal character anu stand.
x 81 The officers or directors elected .
: appointed IN peenrdancp with sec.t
uns 2 aud ! u this act. 8r when be !
~ reason 20 believe that the bank Il =
-ganized fm any purpose other than V
iat contemplated by this act
Ninth The amendatory at strikes I'd.
u II. uroNlsiOn Of section lO that a.
e ioia' liability 10 any association A
any perS0a. or Of ans company or
IA. FOR money borrowed Including