owners of one twentieth part of the stock or property thereof, may apply in writing to any justice of the peace, which application shall state the time, place and purposes of such meeting, to call a meeting of the members of said corporation. (R. S., sec. 11.)

SEC. 32. Such justice shall thereupon issue his warrant directed to any one of said applicants, requiring him to warn a meeting of such corporation, to meet at the time and place and for the purposes mentioned in such application, by publishing a copy of such application and warrant fourteen days in the same manner as is provided for warning the annual meeting of said corporation, and such meeting and all business done thereat, shall be as valid as if held and done according to the charter and by-laws of such body corporate. (R. S., sec. 12.)

SEC. 33. Any corporation may, at any annual meeting thereof, alter the time of holding its annual meeting. (R. S., sec. 24.)

AMENDMENT, REPEAL AND EXPIRATION OF CHARTERS.

SEC. 34. Any corporation whose power may expire by express limitation or otherwise, on any day, may continue to be a body corporate for the space of three years thereafter, for the purpose of prosecuting and defending suits, of receiving, holding, conveying or transferring any estate real or personal, and of gradually closing and settling the concerns and dividing the capital stock of such body corporate, but not for continuing the business for which such corporation was established. (R. S., sec. 23.)

SEC. 35. Any act of incorporation for manufacturing or any other corporation having for its object dividends of profits among its stockholders, granted, or that shall be granted by this or any future legislature, shall become null and taken to be wholly void at the expiration of three years from and after the passage of such act, unless the grantees or corporators in the act named, their successors or assigns, shall have within said time accepted such act or charter, organized as a company under it, and entered in good faith upon the proper business of the corporation. (Laws of 1846, chap. 321, sec. 7.)

SEC. 36. The legislature may at any time alter, amend or repeal the charter of any corporation, whenever in their opinion the public good shall require such amendment, alteration or repeal; but such amendment, alteration or repeal shall not take away or impair any remedy given against such corporation, its members or officers, for any liability which shall have been previously incurred. (R. S., sec. 26, and laws of 1847, chap. 487, sec. 2.)

SECTION 1. Every company or association of persons formed for banking purposes, without an act of the legislature authorizing the same, shall be deemed unlawful.

SEC. 2. If any person shall subscribe to or become a member of such company or association, he shall for such offence be punished by fine not exceeding one thousand dollars, nor less than four hundred dollars.

SEC. 3. If any person shall be concerned in issuing notes or bank bills, receiving deposits, loaning, issuing or signing any such notes or bills, or in any way aiding in carrying on the business of such company or association, he shall be punished by fine of one hundred dollars.

SEC. 4. All notes or securities for the payment of money, or the delivery of property, made, given, endorsed or transferred to, or received by any such company or association for money or bills loaned or discounts made, or made, given, or transferred to or

received by any person for the benefit of such company or association, shall be null and void.

SEC. 5. All bills, notes, checks, drafts or obligations whatsoever payable to bearer or order, except such as may be issued by an incorporated bank, issued or passed with the intent that the same shall be used as currency, and which shall bear the impression of types, plates or printing, are void, and no action shall be sustained thereon, except against the original signer thereof.

SEC. 6. If any person shall issue or pass any such note, bill, check, draft or obligation with the intent that the same shall be circulated as currency, he shall be fined for each offence twenty dollars.

BILLS HOW MADE PAYABLE AND WHAT DENOMINATIONS MAY BE CIRCULATED.

SEC. 7. If any incorporated banking company or any person in their behalf shall put in circulation, or issue with intent to put in circulation as currency, any bank bill, note or obligation, the payment of which is subject to any condition whatever, or payable at any other place than the bank from which it issued, or which shall not be made payable to the bearer in specie and on demand, such company or person for every such offence shall be fined one hundred dollars.

SEC. 8. If any person shall knowingly pass any bank bill, note or obligation of the description contained in the preceding section, issued by any bank, excepting to the bank from which the same issued, he shall be fined for such offence five dollars.

SEC. 9. If any banking company shall neglect or refuse to pay in specie, on demand, any bank bill, note or obligation by them issued, upon presentment and demand of payment thereof at said bank, the holder of such bill, note or obligation may sue for and recover the amount thereof, with interest thereon at the rate of two per centum for each month, to be computed from the time of such demand, and also treble costs of suit.

SEC. 10. If any person shall pass or offer to pass any note or bill of a less denomination than one dollar, issued by any bank, except to the bank from which the same was issued, he shall forfeit for each offence five dollars, to be recovered by any person who will sue therefor within six months from the commission of the offence.

SEC. 11. No bank in this State shall issue, or put in circulation or pass directly or indirectly any bank bill or note of a less denomination than one dollar, or of any denomination between one and two, two and three, three and five, five and ten or ten and twenty dollars; and if any bank in this State shall violate the foregoing provisions of this section or any part thereof, such bank shall forfeit for such offence the sum of five hundred dollars, to be recovered by indictment, and shall be liable to forfeiture of its charter.

SEC. 12. If any person shall bring into this State any bill or note issued by any bank not established in this State, or by any person, of a less denomination than one dollar, or of any denomination between one and two, two and three, three and five, five and ten or ten and twenty dollars, with intent to put such bill or note in circulation in this State, or to cause or permit the same to be so put in circulation, or to pass the same, or if any person shall pass or offer to pass any such bill or note in this State directly or indirectly, such person so offending shall be punished therefor by fine not less than one hundred or more than five hundred dollars.

SEC. 13. The several banking corporations shall be liable to pay to any holder, the original amount of any note or bill of such bank, altered in the course of its circulation to a larger amount, notwithstanding such alteration.

SEC. 14. The capital stock of all banking corporations in this State shall be taken and held to be the amount of capital actually paid in, in cash; and no notes of stockholders, given to said bank, shall be deemed or held to constitute any part of its capital stock. (Laws of 1846, chap. 323, sec. 1.)

SEC. 15. No bank shall have in circulation its bills to a greater amount than its capital stock actually paid in in manner aforesaid, deducting therefrom the amount of loans made by such bank upon the pledge of its own stock, not exceeding the amount authorized by its charter. (Laws of 1846, chap. 323, sec. 2, and R. S., chap. 140, sec. 14.)

SEC. 16. All banking corporations to which the provisions of this act shall apply (the two preceding sections) shall, within sixty days from its passage (the tenth day of July eighteen hundred and forty-six) accept the same as a part of their charter and file with the secretary of state evidence thereof; and on failure so to do, it shall be the duty of the attorney general, or prosecuting officer of the government, to institute prosecutions against all such banks for violation of their charters. (Laws of 1846, chap. 323, sec. 3.)

SEC. 17. The capital stock of each and every bank in this State, chartered previous to the June session of the legislature, (A. D. eighteen hundred and fifty-one) shall be fixed and limited to the amount subscribed and actually paid in under their respective charters on the first day of October, A. D. eighteen hundred and fifty-one, any law, or the provisions of any charter, to the contrary notwithstanding. (Laws of 1851, chap. 1127.)

SUSPENDED BANKS AND PROCEEDINGS.

SEC. 18. No bank which shall suspend specie payments, shall during such suspension pay any dividend of interest or profits to any stockholder, and any violation of this or the preceding section shall be a forfeiture of the charter of the bank guilty of such violation, and any director or other officer of any bank consenting to