Duties of rer in re notes, &. urer shall cause notice to be given by advertisement,.in one paper published in the village of Ann Arbor, and also in the state paper, state treasu for six consecutive months, calling on all persons who have claims demption of against said bank, to make legal proof; and after the end of one year after the first publication of such notice, the treasurer, after full provisions shall have been made for redeeming the circulating notes of said bank, shall make a rateable dividend of the moneys so paid over to him by such receiver or receivers on all such claims as may have been proved, and from time to time as the proceeds of the assets of said bank shall be paid over to him the said treasurer shall make further dividends as aforesaid on all claims proved: and the remainder, if anything, shall be paid over to the stockholders of said bank, or their legal representatives, in proportion to the stock by them severally held. The auditor genoral, secretary of state, and state treasurer, or a majority of them may at any time, upon evidence satisfactory to them, vacate the appointment of any receiver or receivers, and appoint others, or they may reinstate said appoint'nt bank in the possession of any and all assets that may have been in &c. possession or charge of said receiver or receivers: and any of the justices of the supreme court are hereby authorized, summarily, to make any order or issue any process which a court of chancery might make or issue to enable the said officers to carry out the provisions of this act, and said bank is hereby required, on the demand of said treasurer, to submit to a full examination on the part of said treasurer and any refusal to submit to said examination, shall operate and be construed as a forfeiture of its charter. Vacation of of receivers, port & state Sec. 13. The said bank shall pay the state treasurer on or before Annual rethe second Monday of January, eighteen hundred and fifty, and on tax. or before the second Monday of January in each year thereafter, during its corporate existence, one per cent. on its capital stock, which shall be in lieu of all other taxes: Provided, That the value of real estate, as assessed by the proper township officer or estimated by the state treasurer, which may be owned in fee by said bank, shall be deducted from said capital stock, for the purpose of taxation, and all real estate owned by said bank shall be taxed as other property in the several townships, cities and villages, where the same may be situated. Sec. 14. No more than seven per cent. per annum, in advance, count on Fraudulent &c. Rate of dis- shall be taken for any loan or discount, under any pretence whatever by said bank, and said bank shall not at any time issue or put in circulation any note, draft, bill of exchange, acceptance, certificates of deposites or other evidence of debt, which from its character or appearance shall be calculated or intended to circulate as money, of its own emission, other than such notes or bills of circulation as are countersigned by this act provided, and which said bank are expressly authorized to issue for the purpose of being circulated as money. All transfers of the notes, bonds, bills of exchange and other evidence assignm'ts, of debt owing to said bank, or of deposites to its credit; all deeds of conveyance of real estate; all assignments of mortgages or other securities on real estate or of judgments or decrees in its favor; al! sales, assignments or other disposition of any personal property, or of any choses in action belonging to said bank; all deposites of money, bullion, or other valuable thing, for its use or for the use of any of its stockholders or creditors; all payments of money made after the commission of an act of insolvency, or in contemplation thereof, with a view to prevent the application of its assets in the manner prescribed in this act, or with a view to the preference of one creditor to another, shall be held utterly null and void. Publication of annual by state treasurer. Sec. 15. It shall be the duty of the state treasurer to cause to be statement published a statement of the affairs and condition of said bank, at least once in each year, as ascertained when he may visit and examine the same, and the expenses of such visitation, publication, selling of stocks, redeeming the bills or notes as provided in this act, and of the registering and countersigning of the bills as hereinbefore provided, shall be determined by the state treasurer and paid by said bank. Sec. 16. The legislature may at any time, alter, amend or repeal this act. Approved March 31, 1849. [No. 205.] AN ACT to amend Chapter 7, Title 2, of the Revised Statutes. Section 1. Be it enacted by the Senate and House of Represen tatives of the State of Michigan, That sections seventeen, eighteen, 18, 19, 29, nineteen, twenty, twenty-one, twenty-two and twenty-three of chap- Sections 17, ter seven, title two of the revised statutes of 1846, be and the 21, 22 & 23 same are hereby repealed, and the following substituted to stand as of R. E. rea new section: of chapter 7 pealed. New secti'n therefor. "Sec. 17. If from any county clerk, no such statement shall have been received by the secretary of state, on or before the Wednesday substited next after the third Monday of November, he shall call upon the governor and receive from him the statement from such county clerk, if the governor shall have received one. If from any county clerk, neither the governor nor the secretary of state shall have received such statement by the day last mentioned, the secretay of state shall forthwith send a special messenger to obtain such statements and certificates from such county clerk, and such clerk shall immediately on demand being made by such messenger at his office, make out and deliver to him the statements and certificates required." Sec. 16 of chapter 7 of Sec. 2. That section sixteen of said chapter be amended by strikiug out all after the word "state" in the sixth line thereof, so that R.s.amendsaid section shall read as follows: ed. Section 16 "Sec. 16. Each county clerk immediately after he shall receive from the board of county canvassers a statement of the votes given as amended. for electors of president and vice president, shall make out three copies thereof, and certify the same under his hand and seal of office to be true copies, and shall send by mail one to the governor and one to the secretary of state." Approved March 31, 1849. [ No. 206. ] AN ACT to amend an act entitled an act to incorporate the De-· troit and Utica Plank Road Company. Section 1. Be it enacted by the Senate and House of Represen tatives of the State of Michigan, That the time within which the commissioners named in the act to which this act is amendatory might open books for the subscription of the capital stock of said company, is hereby extended for the period of six months from and after the passage of this act, and said company shall be allowed two Aet amend ed. Repeal. years, from and after the passage of this act for the expenditure of ten per cent. of the capital stock of said company in the actual construction of this road. Sec. 2. All acts and parts of acts inconsistent herewith, are hereby repealed, so far as they apply to the act to which this act is amendatory; and this act shall take effect from and after its passage, Approved March 31, 1849. [ No. 207. ] Incorporation.. Route of road. Capital. Duration of charter-ite AN ACT to incorporate the Frederick and Utica Plank Road. Company. Section 1. Be it enacted by the Senate and House of Represen tatives of the State of Michigan, That Charles W. Chappel, James Covil, jr. Porter Kibbee, Edward C. Gallop, .Isaac Kelley and George Macumber, be and they are hereby appointed commissioners, under the direction of a majority of whom, subscriptions may be received to the capital stock of the Frederick and Utica plank road company; and the subscribers thereto, with such other persons as shall associate with them for that purpose, their successors and assigns, shall be and they are hereby created a body corporate and politic by the name and style of the Frederick and Utica plank road company, with corporate succession. Sec. 2. Said company hereby created, shall have the power to lay out, establish and construct a plank road, and all necessary buildings, from the village of Frederick, in the town of Clinton, to the village of Utica, in the county of Macomb, and said company may construct said road on the heel-path of so much of the Clinton and Kalamazoo canal, lying on the route of said road, as they may see fit. Sec. 3. The capital stock of said company shall be eight thousand dollars, divided into shares of twenty-five dollars each. Sec. 4. This act shall be and remain in force for the term of sixty amendment, years from and after its passage, but the legislature may at any time repeal, &c. alter, amend or repeal this act by a vote of two-thirds of each branchthereof, but such alteration, amendment or repeal shall not be made within thirty years of the passage of this act, unless it shall be made to appear to the legislature that there has been a violation by the company of some of the provisions of this act: Provided, That after said thirty years, no alteration or reduction of the tolls of said company shall be made during its existence, unless the yearly net profits of said company, over and above all expenses, shall exceed. ten per cent on the capital stock invested, provided there be no violation of the charter of said company. Sec. 5. The provisions of an act entitled an act relative to plank General pro-roads, approved March 13, 1848, shall be and are made a part of visions. this act. Sec. 6. This act shall take effect from and after its passage. [No. 203. ] AN ACT to provide for laying out a state road from the township of Ingham, in the county of Ingham, to the village of Dexter, in Washtenaw county. Comm'rs to tain state road. Section 1. Be it enacted by the Senate and House of Representatives of the State of Michigan, That William S. Mead, F. G. lay out cer Rose and Richard Peterson, be and are hereby authorized and appointed commissioners to lay out and establish a state road, commencing at the termination of a state road from Okemos, to the township of Ingham, on the south line of section fifteen, eighty rods west of the south east corner of said section fifteen, in town two north of range one east, running thence south easterly on the most eligible route to William Tompkins house, thence through the townships of White Oak, Unadilla, by the way of Plainfield post office, to the village of Pinkney, aud from thence to the village of Dexter, in Washtenaw county. commis're Sec. 2. The above commissioners shall file so much of the sur-Duties of vey of the above named road in the office of the township clerk of e each township through which the said road shall pass, as shall be laid out in such township, and it shall be the duty of the several township clerks to record the same in their respective township books, and post the notice required by law. Sec. 3. That it shall be the duty of the commissioners of high |