this act, be deemed and taken to be payable at the bankinghouse of such incorporated banking institution, any law or usage to the contrary hereof notwithstanding. 18 J. R., 341. CHAP. XX. CHAP. 315. AN ACT to prevent the mutilation of bank bills. The People of the State of New York, represented in Senate and Assembly, do enact as follows: $1. Every person who shall mutilate, cut, deface, disfigure, or perforate with holes, or shall unite or cement together, or to any other thing, any bank bill, draft, note, or other evidence of debt, issued by any incorporated bank in this state, or shall cause or procure the same to be done, with intent to render such bank bill, draft, note, or evidence of debt unfit to be re-issued by said bank, shall, upon conviction, forfeit fifty dollars to the corporation who shall be injured thereby. CHAP. 262. AN ACT relative to unclaimed bank dividends and de posites. PASSED May 9, 1835. The People of the State of New York, represented in Senate and Assembly, do enact as follows: publish $ 1. Each of the banks in this state, on or before the first Banks to day of September next, and annually thereafter, shall cause statement. to be published for six successive weeks in one public newspaper printed in the county in which such bank may be located, and in the state paper, a true and accurate statement, verified by the oath of the cashier or presiding officer, of all the deposites made in said bank, and of all the dividends declared upon its stock, which at the date of such statement shall have remained unclaimed by any person authorized to receive them for two years then next preceding. 17 W., 514. made. $ 2. Such statement shall set forth the time such deposite How to be was made, its amount, the name and the residence, if known, of the person making it, the name of the person in whose favor the dividend may have been declared, the time it was declared, its amount, and upon what number of shares of the stock of said bank. banks. 3. Each of the savings banks shall, within the same time By savings above stated, and annually thereafter, cause to be published in the same manner and for the same period of time, a like PART L. How to be made. Expense. Report to legislature. Part repeal ed. Restriction as to for rations. statement verified by the oath of the president or other presiding officer, of the names of all persons who have made deposites in such bank, and have not, within two years next preceding the date of said statement, either drawn out any part of the money so deposited, or of the interest accruing upon it. S 4. Such statement shall contain the name of the depositor and his residence and occupation, if known, the time the deposite was made and its amount together with the sum due for interest. $ 5. In all cases the expenses of advertising shall be deducted from the sums unclaimed, in proportion to the amount of each respectively. $ 6. It shall be the duty of the presiding officer of each of the said banks, and savings banks, to report the same statement as above required to be published, at each session of the legislature, within ten days after its commencement. CHAP. 20. AN ACT to repeal in part the Revised Statutes, relating to unauthorized banking, and the circulation of certain notes or evidence of debt issued by banks. PASSED February 4, 1837. The People of the State of New York, represented in Senate and Assembly, do enact as follows: 51. So much of title twenty, chapter twenty, part first of the Revised Statutes, relating to unauthorized banking, and the circulation of certain notes or evidences of debt issued by banks, as prohibits a person or association of persons not incorporated, from keeping offices for the purpose of receiving deposites, or discounting notes or bills, is hereby repealed. 15 N. Y., 60; 4 N. Y., 479; 18 B., 458; 8 B., 227. S2. This act shall not be so construed as to authorize or eign corpo- permit any corporation created by the laws of any other state or country, to keep any office for the purpose of receiving deposites, or discounting notes or bills, or issuing any evidence of debt to be loaned or put in circulation as money within this state. As to banks and officers this state. S 3. No incorporated bank in this state, nor any officer or of banks in director thereof, shall open or keep an office of deposite or discount under this act, or be interested or concerned, directly or indirectly, in any such association: the bank officer or director shall forfeit the sum of one thousand dollars for each violation of any of the provisions of this section. [In 1841 the Legislature directed a compilation of the Laws concerning Banking then in force. That compilation is contained in the following pages to and including ch. 202 of the laws of 1840. Acting upon the rule which has governed the editor throughout this work, he has inserted the compilation as he found it in Session Laws of 1841, page 337, and has taken no liberties with legislative action. He has contented himself with an occasional reference to subsequent statutes, affecting those contained in the Legislative compilation. The departure in this instance, from the chronological order observed in other parts of this work, is thus accounted for.] A Chapter containing the act to create a fund for the benefit of the creditors of certain moneyed corporations and for other purposes, passed April 2, 1829, as amended by subsequent enactments showing the provisions of law at present in operation affecting the institutions now doing business under the said acts. Prepared and published pursuant to section 8 of chap. 292 of the Laws of 1841. CHAP. 94. AN ACT to create a fund for the benefit of the creditors of certain moneyed corporation, and for other purposes. PASSED April 2, 1829. The People of the State of New York, represented in Senate and Assembly, do enact as follows: CHAP. XX. Bank char § 1. Every moneyed corporation having banking powers, ters subject hereafter to be created in this state, or whose charter shall be to this act. renewed or extended, shall be subject to the provisions of this act. created. S2. For the purpose of creating and continuing the fund Fund to be herein established, every such corporation shall, on or before the first day of January in every year, pay to the Treasurer of this state, a sum equal to one-half of one per cent on the capital stock of such corporation paid in, after excepting therefrom such part of said capital stock as is held by the state, and at that rate for the time such corporation shall have been in operation, if less than one year. 21 B., 642. of stock § 3. At the time of making any such payment the corpora- Statement tion making the same, shall cause to be delivered to the Trea- paid in. surer of this state, a statement, signed by the president and cashier of the corporation, and verified by their oath, duly made before some officer authorized to administer oaths, specifying the actual amount of the capital stock of such corporation paid in, and designating in such statement, the amount of said capital stock, as shall be owned by the state. S4. The said annual payments shall continue to be made Bank fund. until every such moneyed incorporation shall have paid into the treasury three per cent upon its capital stock, which shall be and remain a perpetual fund, to be denominated the PART L Comptroller and treasurer "bank fund," and to be inviolably appropriated and applied to the payment of such portion of the debts, exclusive of the capital stock, of any of the said corporations which shall become insolvent, as shall remain unpaid, after applying the property and effects of such insolvent corporation, as hereafter provided. 17 N. Y., 502; 21 B., 630. $5. The Comptroller and Treasurer of this state, shall keep proper accounts of the said bank fund, separate and distinct to keep ac from the funds of this state; and the Comptroller shall from time to time report to the legislature the condition thereof. counts. Payments of fund. of 21 B., 642. S6. The said fund shall be the property of the corporations by which the same shall be paid, in proportion to the amount which each of such corporations shall have contributed thereto; but the Comptroller shall have power, and it shall be his duty, from time to time, to invest the same, and all moneys belonging thereto, in the manner provided by law in respect to the common school fund. And whenever it shall become necessary for the purpose of meeting any charges on the said fund, to sell any stocks in which such fund or any part thereof may have been invested, the Comptroller shall have power to make such sale. 21 B., 642. $7. The income arising from said fund, after deducting thereout the salaries of the bank commissioners hereinafter mentioned, shall annually be paid by the Comptroller to the several corporations by which the said fund shall be created, in proportion to the amount which each of the said corporations shall have contributed thereto; but no corporation shall be entitled to any part of the said income, after it shall become insolvent, or shall be dissolved, or its charter shall expire. 21 B., 642. S8. Whenever the fund created by this act shall be reduced reaction by the payment of the debts of an insolvent corporation, to be made as hereinafter provided, below the sum as provided in the fourth section of this act, every moneyed corporation then existing, which shall be subject to this act, and every such corporation thereafter to be created, shall, on or before the first day of January in every year thereafter, pay to the Treasurer of this state, such sum to be designated by the Comptroller, not exceeding a sum equal to one-half of one per cent on its capital stock, as herein before provided; which last mentioned annual payments shall continue to be made by every corporation subject to the operation of this act, until the aforesaid fund shall be reimbursed, and made to amount to the sum as provided in the fourth section; after which, such annual payments shall be suspended, until it shall become necessary again to resort to the said fund, by reason of the insolvency of any such corporation, as hereinafter provided, when the said payments shall be resumed in manner as aforesaid; and so on, from time to time, as occasion may require. CHAP. XX. court of when a comes in $9. Whenever any corporation subject to the operations of Duty of this act, shall become insolvent, and shall be proceeded against chancery as hereinafter provided, it shall be the duty of the court of bank be chancery, immediately after a final dividend of the property solvent. and effects of such insolvent corporation shall have been made among the creditors thereof, to cause an order to be entered on its minutes, setting forth, 1. The total amount of debts against the said corporation, ascertained and established by the said court, including lawful interest thereon: 2. The nett amount of moneys derived from the property and effects of the said corporation, and applied, under the direction of the said court, towards the satisfaction of such debts: and, 3. The total amount of moneys then requisite to pay off and discharge the said debts. Such order shall also direct the receiver appointed to take Receiver. charge of the property and effects of the corporation, to apply to, and receive from, the comptroller of this state, in the manner hereinafter provided, the sum which shall be required to pay off and discharge the said debts. comptrol $10. Upon such receiver filing with the comptroller of this Duty of state, a copy of such order, duly certified by the proper officer, ler. and countersigned by the chancellor, it shall be the duty of the said comptroller to draw his warrant on the treasurer, in favor of such receiver, for such sum, not exceeding the amount of the bank fund, as may have been declared by the said court of chancery to be necessary to satisfy the debts of the said corporation; and the moneys paid to such receiver by such warrant, shall be paid out by him, under the direction of the court of chancery, to the several creditors of the corporation. 21 B., 642. deficiency 11. If at the time of filing with the comptroller, the copy In cases of of such order, the bank fund shall be insufficient to satisfy all of bank the debts of the insolvent corporation, a sum sufficient to fund. satisfy the residue of such debts as shall remain unpaid, shall be paid to such receiver, in the manner provided in the last preceding section, out of the first moneys that shall thereafter be paid to the treasurer pursuant to the eighth section of this act; and the moneys so paid to such receiver, shall be paid out by him in the manner required in the last preceding section. paid how to 3 12. The moneys so paid out of the treasury, and all other Moneys moneys required by this act to be paid out of the treasury, be charged. shall be a charge upon the bank fund hereby created. 21 B., 642. |