CHAP. XX. notes to be registered notes, and refused; and provided, also, that the stockholders of any chartered bank shall be individually liable for all the notes of its old circulation which shall be outstanding on and after the first of July, eighteen hundred and forty-four; and after the first day of July, eighteen hundred and forty-four, no bank shall pay out any note of any bank which has not been countersigned and registered at the comptroller's office, as herein provided. And all the notes Certain of any bank issued prior to the first July, eighteen hundred redeemed and forty-three, not countersigned and registered, or delivered stroyed. to the comptroller to be countersigned and registered, shall on or before the first of July, eighteen hundred and fortyfour, be redeemed and destroyed in the presence of the comptroller, or of some person to be appointed by him for that purpose. And a certificate of the counting and destruction of the notes certified to be destroyed shall be signed and sworn to by the comptroller or his agent, and an agent appointed by the bank, and deposited in the comptroller's office. and de print and notes to and coun 52. It shall be the duty of the comptroller to receive and Comptroller to keep safely keep the plates, to be delivered to him by the banks, plates and as prescribed in section first; and at all times to cause to be deliver printed from said plates, and deliver to each bank such notes, banks, reand of such denomination as is now allowed by law, as the gistered bank owning such plates may require, not exceeding together tersigned. with outstanding old circulation, and with the notes previously received, the amount of circulation now allowed to such banks by law, and it shall also be the duty of the comptroller, to employ suitable persons whose duty it shall be to countersign such bills in such uniform manner as the comptroller may prescribe, and every note so countersigned, shall, before it is delivered to the bank, be registered in a book to be kept by the comptroller for that purpose; and the expenses of preparing, countersigning and registering such notes, shall be paid to the comptroller by the banks receiving the same, in proportion to the number of notes received. And it shall be competent for the comptroller, when the plates of any bank are worn or otherwise unfit for use, to require such bank to furnish new plates, or to procure them himself, at the expense of such bank. comptroller rer in rela quarterly 33. It shall be the duty of the comptroller, secretary of Duty of state and treasurer, on or before the first Tuesdays of Janu- sec. of state ary, April, July and October in each year, to fix upon and and treasudetermine some Saturday in the quarter of a year, then ended, tion to in respect to which every incorporated bank, banking associa- reports. tion and individual banker in the state shall make a report of the character hereinafter specified. Immediately after each determination of such Saturday, the officers hereinbefore named shall cause notice thereof to be published daily for six successive days in such newspaper published in the city of Albany as shall, for the time being, have the publication of legal notices under the act entitled "An act to provide for the pub PART I. Reports, by whom and when to be made to comptroller. Items to be reported. Reports and summary when to he lic printing," passed March 5, 1846, or shall serve a copy of such notice upon each incorporated bank, banking association and individual banker in the state, by delivering the same to some officer or clerk thereof at their respective places of business, or by depositing the same in the post office, directed to each of such banks, banking associations and individual bankers, or some officer thereof at their places of business respectively. 17 B., 332. It shall be the duty of every incorporated bank, banking association or individual banker in the state, on or before the first days of February, May, August and November of each year, to make and transmit to the comptroller a quarterly report, which report shall be made on the oath of the president and cashier, and shall contain a true statement of the condition of the bank, banking association or individual banker making such report, before the transaction of any business on the morning of the day specified in the notice of the comptroller, secretary of state and treasurer next preceding the date of such report, in respect to the following items and particulars, to wit: Loans and discounts, over drafts due from banks, due from the directors of the bank, or banking association making the report, due from brokers, real estate, specie, cash items, stocks and promissory notes, bills of solvent banks, bills of suspended banks, loss and expense account, capital, circulation, (distinguishing that received from the comptroller from the old outstanding bills,) profits, amount due to banks, amount due to individuals and corporations other than banks, amount due to the treasurer of the state, amount due to commissioners of canal fund, amount due to depositors on demand, amount due not included under either of the above heads. And it shall be the duty of the comptroller to publish such reports together in the newspaper published in the city of Albany in this section before named, accompanied with a summary of the items of capital, circulation and deposits, specie and cash items, public securities and private securities; and the separate report of each bank, banking association and individual banker shall be published in a newspaper published in the county; if a newspaper is published in the city or town in which any bank is situated, such publication shall be had in such paper in which such bank or banking association, or the banking house of such individual banker shall be situated, at the expense of such bank, banking association or individual banker. As amended by Laws of 1847, ch. 419. S 4. The comptroller shall publish the reports and summary required by the third section of this act, together in one paper, published. on or before the twenty-fifth day of August, November, February and May in each year, and the expense of such publication shall be defrayed by a per centage assessed upon the capital stock of all the banks and banking associations, and individual bankers doing business under the "Act to authorize the business of banking," passed April 18, 1838, or of any act amending the same, in the state; and if any such bank, banking association or individual banker shall fail to furnish to the comptroller its quarterly report in time for such publication, it shall forfeit and pay to the comptroller the sum of one hundred dollars, to be applied by him to the payment of the expense of publishing the quarterly reports; and if any bank, banking association or individual banker shall neglect or refuse to make the quarterly report required by the third section of this act, for two successive quarters, it shall forfeit its charter (if an incorporated bank) and its privileges as a banking association or individual banker, if organized or doing business under the act of April 18, 1838, in this section before referred to, and every such bank, banking association and individual banker may be proceeded against and its affairs closed in any manner now required by law, in case of an insolvent bank or banking association. As amended by Laws of 1847, ch. 419. CHAP. XX. in case of being im $5. Whenever it shall appear from the reports made by any Provision bank or in any other way, that the capital of any bank has capital become impaired and reduced, it shall be competent for the paired." comptroller to call upon such bank to redeem its circulation while its capital continues so reduced, so that the circulation of such bank shall not exceed that to which its reduced capital would by law entitle it. bank com abolished. $6. The office of bank commissioner is hereby abolished; Office of provided however, that it shall be competent for the comp- missioner troller, whenever he shall have good and sufficient reason to suspect the condition of any bank, or the correctness of its quarterly report, to appoint a special agent to examine the affairs of such bank, and who for that purpose shall have the same powers now vested by law in a bank commissioner. And the expenses of such investigation, if such bank shall be proved to have made a false return or otherwise to have been guilty of a violation of law, shall be paid by said bank; but if it appear that such bank has violated no law, then the expenses of such examination shall be defrayed in the same manner as is herein provided for defraying the expenses of the publication of the quarterly reports. relative to dues. $7. Any bank may at its pleasure, on paying its dues to Provision the safety fund, and on depositing with the comptroller an safety fund amount of money equal to the whole amount which any such bank would be liable to pay to the safety fund during the time of its original charter, and all other debts and demands against it, wind up its affairs, distribute its assets among its stockholders, and resign its charter, and close its business, by a resolution passed at a meeting of the stockholders, and approved of by a majority of stockholders in interest of such PART I. Repeal. Comptrol ler may re hoid stocks. ceive and Dividends bank called for that purpose, a copy of which resolution shall be furnished to the comptroller, and shall also be published for three successive weeks in the state paper; and if any outstanding notes or other demands are not presented within one year, such bank may deposit with the comptroller or elsewhere under his direction, and subject to his order, on interest, a sum sufficient to meet such outstanding demands, which, when presented to the comptroller, shall be paid by him out of such sum, and such bank may distribute among its stockholders the surplus of its assets, and after six years from the day on which publication of dissolution was first made, the comptroller shall return to the stockholders, to be distributed, the remainder of any of the sum so deposited. S8. All acts heretofore passed that conflict with the provisions of this act, are hereby repealed. СНАР. 41. AN ACT to amend the act passed April 18, 1838, entitled "An act to authorize the business of banking." PASSED March 16, 1844. The People of the State of New York, represented in Senate and Assembly, do enact as follows: $1. The comptroller is hereby authorized to receive and hold all stocks of the United States, already deposited in his office, as security for circulating notes issued, or that may be issued to any banking association or individual banker, on the security of said stocks, in the same manner and with like effect as if they were stocks of this state. CHAP. 239. AN ACT relative to receivers of banking corporations. The People of the State of New York, represented in Senate and Assembly, do enact as follows: $1. It shall be lawful for receivers of the property and to be made. effects of banking corporations from time to time to make dividends of the moneys in their hands among the creditors of such corporations, until the payment of such creditors in full; and no dividends shall be made to the stockholders of such corporations until after the final dividend to the creditors. Under direction of $2. Such receivers shall be subject to the direction and conchancellor. trol of the chancellor, as to the time of making dividends both to the creditors and stockholders of such corporations, and as to the time of closing up the concerns of such corporations, and rendering their final account. But the receivers already appointed shall within four months from the passage of this act render their account, and close the concerns of such corporations, unless upon special application made to the chancellor, and for good cause shown, the time may be extended; but such extension shall not exceed one year, except as to assets, or property in suit or in court. CHAP. 281. AN ACT to amend the act passed May 14, 1840, entitled "An act to amend the act entitled an act to authorize the business of banking." PASSED May 6, 1844. The People of the State of New York, represented in Senate and Assembly, do enact as follows: § 1. The third section of said act is hereby amended so as to read as follows: CHAP. XX. be deposit No association of persons shall commence the business of Amount to banking under said act until such association shall have ed deposited with the comptroller the securities required by law to the amount of one hundred thousand dollars; and no individual banker or bankers shall commence the business of banking under said act or receive circulating notes under the same, until such individual banker or bankers shall have deposited with the comptroller the securities required by law to the amount of fifty thousand dollars. dividual $2. Each and every individual banker now doing business Duty of inunder the general banking law of this state, or who shall before bankers. this law takes effect, have received circulating notes under said act, shall state in his quarterly reports, whether any per son or persons, and who, are interested with such individual banker directly or indirectly, in the securities deposited with the comptroller for the circulating notes obtained by such individual banker, or in the business of circulating said notes, or the benefits or advantages thereof; and if it shall appear from such report that any other person is so interested with said banker, and in case two successive reports of said banker shall not contain such statement, or if he omit twice in succession to make such quarterly reports, such banker shall forfeit one thousand dollars for each and every omission to make such statement, or to file such reports as aforesaid, to be sued for and recovered by the attorney-general, in the name of and for the benefit of the people of this state. certificate 53. Every individual banker who shall heretofore have To file a obtained circulating notes of the comptroller, under said act, stating shall within ninety days after this act takes effect, file in the where he comptroller's office a certificate, stating the town, city or vil resides. |