Laws By Laws And Resolutions Relating to the State Bank of Ohio
Laws By Laws And Resolutions Relating to the State Bank of Ohio
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SEC. 58. No banking company shall, during the time it shall con- tinue its operations as a bank, withdraw or permit to be withdrawn, either in form of dividends, loans to stockholders for a longer period of time then six months, or in any other manner, any portion of its capital stock ; and if losses shall at any time have been sustained by any banking company, equal to or exceeding its undivided profits then on hand, no dividend shall be made, and no dividend shall ever be made, by any banking... company while it shall continue its bank- ing operations to an amount greater then its net profits then on hand, deducting therefrom its losses, bad and suspended debts ; and all debts due to a banking company, on which interest is past due and unpaid for a period of six months, unless the same shall be well secured, and shall be in the process of collection, shall be considered bad or suspended debts within the meaning of this section.
SEC. 59. The directors of each banking company shall, semi-an- nually on the first Monday in May and November, declare a divi- dend of so much of the net profits of the company as they shall judge expedient ; and, on each dividend day, the cashier shall make, and verify, by his oath, a full, clear, and accurate statement of the con- dition of the company, as it shall be on that day, after declaring the dividend ; and similar statements shall also be made on the first Mon- days of February and August, in each year ; which statement shall contain First--The amount of the capital stock actually paid in, and then remaining, as the capital stock of the company ; Second The amount of the bills or notes of the company, then in circulation, specifying the amount of each denomination; 25 Third The greatest amount in circulation, at any time, since the making of the last previous statement, as shall have been exhibited by the weekly statements of the cashiers, specifying the times when the same accrued ; Fourth The amount of balances and debts of every kind due to the branches of the State Bank of Ohio, the amount due to other banking companies of the State, and the amount due to banks not of this State ; Fifth The amount due to depositors ; Sixth The total amount of debts and liabilities of every descrip- tion, and the greatest amount since the making of the last previous statement, specifying the time when the same occurred ; Seventh The total amount of dividends declared on the day of making the statement ; Eight The amount of gold and silver coin and bullion, belong- ing to such company, and in possession, at the time of making the statement, designating the amount of each ; Ninth The amount subject to be drawn at sight, in gold and silver, then remaining on deposit with solvent specie paying banks, or bankers in the cities of New York, Philadelphia, Boston and Bal- timore ; Tenth The amount then on hand, of bills or notes, issued by branches of the State Bank of Ohio, the amount issued by other banking companies of this State, and the amount issued by banks not of this State ; Eleventh The amount of balances due from branches of the State Bank of Ohio, the amount due from other banking companies of this State, and the amount from banks not of this State, exclud- ing, in the latter case, deposits in the cities of New York, Phila- delphia, Boston and Baltimore, subject to sight drafts, payable in specie ; Twelfth The amount on hand of bills, bonds, notes, and other evidences of debt, discounted or purchased by the company, speci- fying particularly the amount of suspended debt, the amount con- sidered bad, the amount considered doubtful, and the amount in suit or judgment; Thirteenth The value of the real and personal property, held for the convenience of the company, specifying the amount of each ; Fourteenth The amount of real estate, taken in payment of' debts due the company ; Fifteenth The amount of the undivided profits of the company ; Sixteenth The total amount of the liabilities to the company by the directors thereof, collectively, specifying the gross amount of such liabilities as principal debtors, and the gross amount as endor- sers or sureties.
What to read after Laws By Laws And Resolutions Relating to the State Bank of Ohio?
You can find similar books in the "Read Also" column, or choose other free books by Ohio State Bank to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
SEC. 58. No banking company shall, during the time it shall con- tinue its operations as a bank, withdraw or permit to be withdrawn, either in form of dividends, loans to stockholders for a longer period of time then six months, or in any other manner, any portion of its capital stock ; and if losses shall at any time have been sustained by any banking company, equal to or exceeding its undivided profits then on hand, no dividend shall be made, and no dividend shall ever be made, by any banking... company while it shall continue its bank- ing operations to an amount greater then its net profits then on hand, deducting therefrom its losses, bad and suspended debts ; and all debts due to a banking company, on which interest is past due and unpaid for a period of six months, unless the same shall be well secured, and shall be in the process of collection, shall be considered bad or suspended debts within the meaning of this section.
SEC. 59. The directors of each banking company shall, semi-an- nually on the first Monday in May and November, declare a divi- dend of so much of the net profits of the company as they shall judge expedient ; and, on each dividend day, the cashier shall make, and verify, by his oath, a full, clear, and accurate statement of the con- dition of the company, as it shall be on that day, after declaring the dividend ; and similar statements shall also be made on the first Mon- days of February and August, in each year ; which statement shall contain First--The amount of the capital stock actually paid in, and then remaining, as the capital stock of the company ; Second The amount of the bills or notes of the company, then in circulation, specifying the amount of each denomination; 25 Third The greatest amount in circulation, at any time, since the making of the last previous statement, as shall have been exhibited by the weekly statements of the cashiers, specifying the times when the same accrued ; Fourth The amount of balances and debts of every kind due to the branches of the State Bank of Ohio, the amount due to other banking companies of the State, and the amount due to banks not of this State ; Fifth The amount due to depositors ; Sixth The total amount of debts and liabilities of every descrip- tion, and the greatest amount since the making of the last previous statement, specifying the time when the same occurred ; Seventh The total amount of dividends declared on the day of making the statement ; Eight The amount of gold and silver coin and bullion, belong- ing to such company, and in possession, at the time of making the statement, designating the amount of each ; Ninth The amount subject to be drawn at sight, in gold and silver, then remaining on deposit with solvent specie paying banks, or bankers in the cities of New York, Philadelphia, Boston and Bal- timore ; Tenth The amount then on hand, of bills or notes, issued by branches of the State Bank of Ohio, the amount issued by other banking companies of this State, and the amount issued by banks not of this State ; Eleventh The amount of balances due from branches of the State Bank of Ohio, the amount due from other banking companies of this State, and the amount from banks not of this State, exclud- ing, in the latter case, deposits in the cities of New York, Phila- delphia, Boston and Baltimore, subject to sight drafts, payable in specie ; Twelfth The amount on hand of bills, bonds, notes, and other evidences of debt, discounted or purchased by the company, speci- fying particularly the amount of suspended debt, the amount con- sidered bad, the amount considered doubtful, and the amount in suit or judgment; Thirteenth The value of the real and personal property, held for the convenience of the company, specifying the amount of each ; Fourteenth The amount of real estate, taken in payment of' debts due the company ; Fifteenth The amount of the undivided profits of the company ; Sixteenth The total amount of the liabilities to the company by the directors thereof, collectively, specifying the gross amount of such liabilities as principal debtors, and the gross amount as endor- sers or sureties.
What to read after Laws By Laws And Resolutions Relating to the State Bank of Ohio?
You can find similar books in the "Read Also" column, or choose other free books by Ohio State Bank to read onlineMoreLess
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