The Birmingham age-herald., 1915-03-18

the certificate of incorporation. and if he
 approves the certificate as conforming
 to the requirements of law, he shall is-
 sue under his hand and official seal 1 certificate authorizing the probate judge
 of the county in which the bank pro-
 | poses to incorporate and do business, to | file the certificate of incorporation upon
 l proof required by law of payment of sub- | scription to the capital stock subscribed
 1 for as required by law and the super
 | intendent shall transmit the proposed cer- l tihcate of incorporation, together with | said certificate made by him. to the said 1 probate judge, and the superintendent of | banks shall keep on file fin his office a duplicate of the certificate made by him.
 1 The probate judge, upon the certificate 1 of incorporation being duly signed by the 1 incorporators and proof being duly made as required by law of payment of sub scription to the capital stock, shall file and record the certificate of incorpora- ton and other papers necessary or deemed necessary in the incorporation of the | bank, together with the said certificate issued by the superintendent of banks.
 If the certificate of incorporation submit l ted to the superintendent shall not be in 1 form and substance as required by law or the affidavit filed with the superin-
 tendent shall not be as required herein.
 the superintendent shall refuse to issue
 his certificate to the probate judge au- | thorizing the filing of the certificate of | incorporation unless the proper papers
 are filed and submitted to him. If the superintendent of banks Is of the opinion from his investigation. that the character 1 and general fitness of the persons named
 as stockholders are such as not to com-
 mand the confidence of the community in which such bank is proposed to be locat- l ed, or that there is not @ public necessity | for or sufficient business to support said | a,.Ir fxx ros1 l,a ho
 under his hand and official seal, in dupli- cate, refusal to permit the incorpora- | ton of the proposed bank, and shall within 90 days from the time the certi1- | cate of the proposed corporation Is sub mitted to him, transmit to the probate | judge of the county in which the bank proposes to incorporate and do business, one of the duplicates of his refusal which | the probate judge shall file and record in l his office, and the other duplicate of his refusal, the superintendent shall file in | his office, and upon refusal the superin- tendent shall return the proposed cer- tifcate of incorporation to the parties who transmitted the same to him.
 Sec. h. That section 26 Is hereby amend ed so as to read as follows: Section 26. From and after the passage of this act, no individual or individuals or partnersnlp shall commence the carrying on of the banking business without first giving mo- , on such business by publication at least once a welS for four successive weeks in a newspaper to be designated by the super intendent of banks published in the city or town or county where such bank is proposed to be located. Such notice snail specify the name or names of the individ- ual or individuals proposed to be inter ested in such bank, what interest each will have. the amount of the capital pro- posed to be used in the proposed banking business the name under which and the place where the business will be car on, ana the bona fide cash value of the as- sets and property of each individual to
 be interested in the bank, over and above all indebtedness. Copy of such published notice and affidavit shall be made ana filed with the superintendent Of banks and the superintendent of banks shall investi- gate and ascertain whether the charac- ter and general fitness Of the indivldual named are such as to command the con fidence of the community in which said bank is proposed to be located, and that there is public necessity for said bank. and sufficient business to support same Tn said community, the same as is required preliminary to the incorporation or a bank under the provisions of section "A and section % hereof. If the superintend- ent of banks is of the opinion from his investigation that the character and gen eral fitness of the persons named as in-. terested in the bank proposed to De op- erated are such as to not command the confidence of the community in whicn | such bank is proposed to be located, and 1 that there is not public necessity Tor and sufficient business to support salo bank in said community, he shall issue urder his hard and official seal, in dupli- cate, refusal to permit the individual proposed to be interested in the proposed bank from operating the bank, and shall, xt-tt do fidavit and ccpy of the published notice is submitted to him, transmit to the pro- bate judge of the county, in which the bank is proposed to be located ana oo business, enc of the duplicates of his re- fusal which the probate judge shall f1le and record in his office, and the other d,r,licate of his refusal the superintendent l shall fife in his office.
 | Sec. 15. Tha. section 30 Is hereby amend | ed so as to read as follows: Section 3O In | event the superintendent of banks refused | to permit the incorporation of any bank, | or refuses to permit any individual to or gar,ize an individual bank upon the ground | that the general character and general l fitness uf the persons named as stock 1 holders Gin case of the proposed moor pcration of the bank) or the individual or | individuals Qn case Of the proposed or ganization of an individual banl1) are not
 such as to command the confidence Of the community in which said bank is pro posed to be located, or that there is not a public necessity for or sufficient business I to support said bank in said community, any proposed stockholder or individual may institute proceedings by mandamus l or other appropriate remedy, in any court having jurisdiction against the superin- tendent. to compel the superintendent to permit the incorporation or organization of such bank, alleging in such proceeding that the character and general fitness of the person named 1 as stnckholder or as individual 1 is such as to command the confluence 1 of the community in which such bank | Is proposed to be located and that 1 there is & public necessity for and sufficient business to support said bank in said community and if from 1 the evidence in the case the court is l of the opinion that the character and l general fitness of the persons named
 as stockholders or individuals in case
 of individual bankers, are such as to
 command the confidence of the com
 munity in which such bank is pro-
 posed to be located, and that there is
 a public necessity for or sufficient
 business to support said bank in such
 community, the court shall render an
 order, judgment or decree directing the
 superintendent of banks to permit the
 interpretation of such bank and there-
 after the superintendent shall Issue
 his permit for such organization stat
 ing in the permit that it is granted
 by order of the court designating the
 court). If the superintendent of banks
 refuses to issue his permit for any
 bank to commence business upon the
 ground that the requisite capital has
 not been paid in like manner by ap-
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