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pay and redeem the circulating notes of such company; SecondTo pay other liabilities of the said company; and after such liabilities shall have been discharged, Third-To divide among the shareholders on their stock.
(3821-83.) Sec. 28. What transactions are void
All transfers of notes, bonds, bills of exchange, and other evidences of debt, owing to any banking company, or of deposits to its credit; all assignments or mortgages, or other securities on real estate, or of judgments or decrees in its favor; all deposits of money, bullion, or other valuable thing for its use, or for the
of its stockholders or creditors; all payments of money to either, 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 by this act, or with a view to the preference of one creditor to another, except in payment of its circulating notes, shall be held utterly null and void,
($ 3821-84.) Sec. 29. Penalty for violation of provisions of
this actIf the directors of any banking company which shall have availed itself of any of the privileges granted by this act, shall knowingly violate, or knowingly permit any of the officers, agents, or servants, of such company, to violate any of the provisions of this act, all the rights, privileges, and franchises of said company, derived from this act, shall thereby be forfeited; such violation, shall, however, be determined and adjudged by a court of competent jurisdiction, agreeably to the laws of this state, and the practice of such court, before the corporation shall be de clared dissolved; and in case of such violation, every director who participated in or assented to the same, shall be held liable, in his personal and individual capacity, for all damages which the company, its shareholders, or any other persons, body politic or corporate, shall have sustained in consequence of such violation.
($ 3821-85.) Sec. 30. Relating to embezzlement, etc., by
bank officers, employes, and agents—Pen
altyEvery president, director, cashier, teller, clerk, or agent of any banking company, who shall embezzle, abstract, or willfully misapply any of the moneys, funds, or credits of such company, or shall, without authority from the directors, issue or put forth and certificate of deposit, draw any order or bill of exchange, make any acceptance, assign any notes, bonds, drafts, or bills of exchange, mortgage, judgment, or decree, or shall make any false entry in any book, report, or statement of the company, with intent in either case to injure or defraud the company, or any other company, body politic or corporate, or any individual person; or to deceive any officer of the company, or any agent appointed to inspect the affairs of any banking company in this state, shall be guilty of an offense, and upon conviction thereof, shall be confined in the penitentiary, at hard labor, not less than one year, nor more than ten years. 76 O. L. 72.
Secs. 31, 32, 33, 34, 35, 36 and 37.
[Repealed April 24, 1879. 76 v. 72.]
($ 3821-86.) Sec. 38. No dividends to be made when cap
ital stock is diminishedIf the original capital stock of any of such banking companies shall in any manner be diminished, or any portion thereof be withdrawn for any purpose whatever, while any debts or demands against such company remain unsatisfied, no dividends shall thereafter be made on the shares of the capital stock of such company, until the original amount of the capital stock shall be restored, either by contribution of the shareholders, or out of the profits of the business of such company; and in case any dividend shall be made while the capital stock shall remain so diminished or withdrawn, it shall be the duty of any court, having competent jurisdiction, to make the necessary orders and decree for closing the affairs of such company, and dividing its effects among its creditors and shareholders, as in this act provided.
($ 3821-87.) Sec. 40. Stockholders shall not be liable to
bank beyond two-fifths of capital stockThe stockholders collectively, of any banking company, shall at no time be liable to such company, either as principal debtors or sureties, or both, to an amount greater than two-fifths of the amount of capital stock actually paid in and remaining undiminished by losses or otherwise, nor shall the directors be so liable by the by-laws of such company, adopted by its stockholders to regulate such liabilities; and it shall be the duty of the auditor, treasurer, and secretary of state, or a majority of them, as often as once in each year, to appoint some suitable person in the vicinity of each banking company, who shall not be a stockholder in any bank of this state, who shall have power to make a thorough examination into all the affairs of the bank which he may be appointed to examine; and, in so doing, to examine any of the officers and agents of such bank on oath; and such agent shall make a detailed report of the condition of such bank to the auditor of state; and the banking companies herein authorized shall be subject to any other visitorial powers authorized by law; and every agent appointed, as in this section provided, shall receive for his services at the rate of two dollars for each day by him employed in such examination, and two dollars for every twenty-five miles he shall necessarily travel, in the performance of his duty, which shall be paid by the bank. ing company by him examined.
Secs. 41, 42.
[Repealed April 24, 1879. 76 v. 72.]
S 3821-87.) Sec. 43. List of shareholders and amount of
stock to be kept and Alled with recorder of
countyThe president and cashier of every company, formed pursuant to the provisions of this act, shall, at all times, keep a true and correct list of the names of all the shareholders of such company, and the amount of stock owned by each, and shall file a copy of such list, in the office of the recorder of the county where any office of such company may be located, and also in the office of such company, and also in the office of the auditor of state, in the months of January and July in every year.
Secs. 44, 45, 46.
[Repealed April 24, 1879. 76 v. 72.]
(S 3821-87.) Sec. 47. Conflicting laws repealed
A11 laws now in force, which are applicable to the banking companies herein authorized, and which conflict with the provisions of this act, are repealed, so far as the same may be applicable to the banking companies herein authorized.
(S 3821-88.) Sec. I. Surrender of securities
All independent and free banking companies, and the State Bank of Ohio and its branches, and their assignees and successors, respectively, organized under the provisions of an act entitled "An Act to incorporate the State Bank of Ohio and other banking companies," and an act entitled "An Act to authorize free banking,” and having complied with the provisions for relinquishing business required by the above-recited acts, and having redeemed at least ninety-five per cent of their authorized circulation, may, on or after the first day of January, eighteen hundred and eighty (1880), demand of the auditor of state, and said auditor is hereby authorized and required to relinquish to such companies on such demand any bonds or securities he may hold as security for the redemption of any outstanding circulating notes of such companies, and thereafter the affairs of such companies shall be considered closed; provided, that nothing herein shall be so construed as to excuse the redemption of all of said circulation that may be presented for redemption prior to the first day of January, 1880. 72 O. L. 54.
Sec. I. Annual report of unknown de
positorsEvery incorporated bank or banking association located in this state, whether now or hereafter incorporated or organized under the laws of this state, or of the United States, and every company, association, or person, who shall in this state keep an office or other place of business, and engage in the business of lending money, receiving money on deposit, buying and selling bullion, or bills of exchange, notes, bonds, stocks, or other evidence of indebtedness, with a view to profit, shall, annually, between the first and second Mondays of January, make out and return to the probate judge of the county in which said bank, office, or other place of business, is located, under oath of the owner, or principal officer or manager thereof, a true and complete statement, setting forth, in alphabetical order, the names of all unknown depositors with said bank, company, association, or person, together with the amount due to every such unknown depositor, including accrued interest and dividends. L. 65.
($ 3821-90.) Sec. 2. Who are "unknown depositors"
Every corporation, company, association, or person, in whose name a deposit of any money, bullion, bill of exchange, note, stock, bond, or other evidence of indebtedness, has been made with any bank, company, association, or person, designated in the first section hereof, shall be deemed an unknown depositor within the meaning of this act, when the date of the last bona fide item of debt or credit to the account of such depositor on the books of said bank shall be more than seven years prior to the time fixed by the first section hereof for the filing of said statement with the probate court of the proper county; provided, that in fixing the date of the last item of credit to the account of any depositor, reference shall not be had to any item of credit for interest or dividends accrued on such deposit, unless the same shall be entered upon a pass-book presented by and returned to the depositor, or unless the depositor be a minor. 85 O. L. 65.
($ 3821-91.) Sec. 3. Record to be kept by probate judge
The probate judge of each county shall, on or before the third Monday of January, annually, cause to be recorded in a book kept for that purpose, entitled “record of unclaimed deposits in banks, county, Ohio," and which shall at all times be open to public inspection, all statements returned to him for the preceding year under the provisions of this act, and said probate judge shall designate in said book at the head of each statement recorded therein, the name of the bank, company, association, or person by whom said statement is returned. The original statement returned to said probate judge shall be kept on file and preserved in his office. 85 O. L. 65.
($ 3821-92.) Sec. 4. His fees for making such record
How paidThere shall be allowed and paid to the probate judge of each county, the sum of eight cents per hundred words, for all statements recorded by said probate judge under the provisions of this act; provided, that the cost of recording the names and amounts due to any depositors, by whom deposits shall be made as aforesaid after the passage of this act, and who shall there