PART I. Additional security. Premiums on stocks. Comptrol. ler may bor fund. the Comptroller and bank commissioners shall designate, from loss or damage by fire during the continuance of such loan, and the policy of such insurance be transferred to the Comptroller as collateral security for the same. S 3. If, during the continuance of any loan or investment made in pursuance of this act, the value of the premises mortgaged, or of the stocks purchased, should depreciate, or the security taken for any such loan should, in the opinion of said Comptroller and commissioners, become doubtful, it shall be their duty to require such additional security as he and they shall deem adequate and in case of neglect or refusal to give such additional security, it shall be the duty of the Comptroller forthwith to cause such loans to be collected, or such stocks to be sold at the best price that can be obtained therefor, and the sums received thereon to be again invested or loaned, in the manner provided by this act. $ 4. All sums heretofore paid, or which may hereafter be paid out, for premiums on stocks purchased for the purposes of investing the said bank fund, shall be repaid to the capital thereof out of the income to be received thereon, before paying over any part of said income to the corporations entitled to the same; and all sums which may at any time be received into the treasury for premium on stocks sold on account of said fund, shall be considered as income, and be paid over to the corporations entitled to such income, in the manner provided in the seventh section of the act herein before mentioned. $5. Whenever at any time it shall become necessary for row of the the Comptroller to borrow any money for the purpose of defraying the expenses of government, it shall be lawful for him to borrow whatever of said fund may be in the treasury, and issue certificates of stock therefor to the Treasurer in trust for said fund, redeemable at pleasure, and bearing an interest of five per cent. Powers when to be Sec. 5 amended by chapter 102, Laws of 1837, by substituting five per cent for four and a half. $ 6. It shall not be lawful for the Comptroller and bank exercised. commissioners to exercise the powers conferred on them by the first section of this act, until three months after the annual contributions of the banks shall be paid into the treasury. Payments to bank fund. Annual reports. $7. Every corporation required to contribute to the bank fund, may, with the consent of the Comptroller, at any time before the expiration of the period limited by the before mentioned act, pay into the treasury the whole amount of the three per cent upon its capital by the said act required to be paid. $ 8. The annual reports required by law to be made by the several banks to the bank commissioners, shall hereafter be deposited by said banks in the office of the Secretary of State, sealed and directed to said commissioners, on or before the twentieth day of January in each year. CHAP. 307. AN ACT to amend the act entitled "An act to create a fund for the benefit of the creditors of certain moneyed corporations, and for other purposes," passed April 2, 1829. PASSED May 11, 1835. The People of the State of New York, represented in Senate and Assembly, do enact as follows: CHAP. XX. as to drafts. public no § 1. It shall not be lawful for any moneyed corporation to Restriction charge, or in any manner receive the premium of exchange on any draft made by such corporation, which shall be used or applied in the payment of any bill, note or other demand due to or discounted by such corporation, or to be interested directly or indirectly in the premiums on drafts which may be drawn or sold by any other corporation or by any individual. § 2. It shall not be lawful for any moneyed corporation to Fees of be in any manner, directly or indirectly, interested in the fees taries. of any notary public, or entitled to, or to receive any share of the same, in any manner whatsoever; and any officer or clerk of such corporation being a notary public shall not be entitled to charge or receive more than fifty cents for protesting and giving the requisite notices upon any note or bill of exchange, check or draft, payable at the office of such corporation; nor shall any such corporation or any of its officers or clerks, charge or receive any sum for a notice upon any note, bill or draft which is not duly protested; nor shall a notary receive any fees for protesting or giving the notice on any note, bill of exchange, check or draft, in which any moneyed corporation shall be interested, of which such notary shall be a stockholder. as to loans See Chap. 476, Laws of 1837, post for an amendment of this section.] $3. It shall not be lawful for any moneyed corporation to Restriction place in the hands of any person, directly or indirectly, any and dismoney or bank notes, for the purposes of loaning or discount- counts. ing of paper, or under any pretence whatever of discounting or engaging that any moneyed corporation shall discount any note or draft, if presented at its counter. $4. No cashier or director of a moneyed corporation within Directors. this state having banking powers, shall hold the office of director in any other moneyed corporation holding its charter under the safety fund system. missioners and report. $5. The bank commissioners shall have power, and it shall Bank combe their duty to examine under oath, the officers of all banks to examine subject to their supervision, as to any offence against the provisions of this act, and shall report to the legislature the names of any such corporations as shall offend against the provisions of this act, or who shall adopt and pursue any PART I course of business with the intention of receiving more than the legal rate of discount. They may $ 6. The commissioners shall be authorized to apply to the apply for an injunction. chancellor, pursuant to the eighteenth section of the act hereby amended, for an injunction against any moneyed corporation who shall violate any of the provisions of this act, or who shall adopt or pursue any course of business which by this act the said commissioners are directed to report to the legislature, and the court of chancery may proceed in the same manner as in any case now provided for by the eighteenth section of the act hereby amended. See Laws of 1843, ch. 218, § 6. Fees of notaries. Repeal of part of act of 1835. Amount of bills or CHAP. 476. AN ACT to restrict and equalize certain fees of notaries public. PASSED May 16, 1837. The People of the State of New York, represented in Senate and Assembly, do enact as follows : 1. It shall not be lawful for any notary public, directly or indirectly, to demand or receive for the protest for non-payment of any note, or for the non-acceptance or non-payment of any bill of exchange, check or draft, and giving the requisite notices and certificates of such protest, including his notarial seal, if affixed thereto, any greater fee or reward than seventy-five cents; and it shall be the duty of such notary to affix his seal to such protest free of expense, except as above, whenever he shall be requested so to do; and he shall also give a certificate under his seal free of expense, except as aforesaid under the provisions of the eighth section of the act, entitled "An act relative to proceedings in suits commenced by declaration, and for other purposes," passed April 29, 1833. $ 2. So much of the act, entitled "An act to amend the act entitled 'An act to create a fund for the benefit of the creditors of certain moneyed corporations, and for other purposes,"" passed May 11, 1835, as restricts the fees of certain notaries public therein mentioned, is hereby repealed. CHAP. 474. AN ACT suspending for a limited time certain provisions of law, and for other purposes. PASSED May 16, 1837. The People of the State of New York, represented in Senate and Assembly, do enact as follows: $ 3. The amount of notes or bills issued and in circulation notes to be of the several banks of this state, shall not hereafter exceed CHAP. XX. the following amounts respectively: Those having capitals to issued and the amount of one hundred thousand dollars, a circulation of circulated. one hundred and fifty thousand dollars; those having capitals to the amount of one hundred and twenty thousand dollars, one hundred and sixty thousand dollars; those having capitals to the amount of one hundred and fifty thousand dollars, one hundred and seventy-five thousand dollars; those having capitals to the amount of two hundred thousand dollars, two hundred thousand dollars; those having capitals to the amount of two hundred and fifty thousand dollars, two hundred and twenty-five thousand dollars; those having capitals to the amount of three hundred thousand dollars, two hundred and fifty thousand dollars; those having capitals to the amount of four hundred thousand dollars, three hundred thousand dollars; those having capitals to the amount of five hundred thousand dollars, three hundred and fifty thousand dollars; those having capitals to the amount of six hundred thousand dollars, four hundred and fifty thousand dollars; those having capitals to the amount of seven hundred thousand dollars, five hundred thousand dollars; those having capitals to the amount of one million of dollars, to eight hundred thousand dollars; those having capitals to the amount of one million four hundred and ninety thousand dollars, one million of dollars; those having capitals to the amount of two million of dollars, one million two hundred thousand dollars. But in all cases where a bank has a branch located at another place, that portion of the whole capital actually employed at each place of business, shall be taken and deemed the capital thereof, under the provisions of this section.* CHAP. 350. AN ACT in addition to the act to create a fund for the benefit of the creditors of certain moneyed corporations, and for other purposes, passed April 2d, 1829. PASSED May 8, 1837. The People of the State of New York, represented in Senate and Assembly, do enact as follows : banks on junction is $1. Whenever the chancellor, upon the application of the Notes of Attorney-General or the bank commissioners, shall have which ingranted an injunction to restrain the ordinary proceedings laid how to of any banking incorporation which is subject to the provi- be paid. sions of the act entitled "An act to create a fund for the benefit of the creditors of certain moneyed corporations, and for other purposes," it shall be lawful for the chancellor, upon *The above section 3, it is declared by § 10 of the same act shall continue in force until repealed. PART 1. Comptroller to apply money. the certificate of one or more of the bank commissioners that the amount of the debts of such banking corporation, over and above its property and effects, will not exceed two-thirds of the amount of the bank fund then paid in and invested, exclusive of all prior established claims thereon, to make an order upon the Comptroller authorizing him to take such measures as he may deem necessary for the immediate payment of the ordinary bank bills or notes of such banking corporation then in circulation, out of the said bank fund then paid in and invested. S2. Upon the filing of a certified copy of such order in the safety fund office of the Comptroller of this state, it shall be lawful for him to apply any moneys belonging to the safety fund, except so much thereof as may be necessary to satisfy prior established claims thereon, to the redemption of such notes or bills then in circulation, in such manner as he may deem most effectual to prevent any loss to the holders of such notes or bills from a depreciation in the value thereof. When to be repaid. Provision in case of the repeal of bank charters. Comptroller may S3. Any moneys belonging to the said bank fund which may be applied to the payment of such notes or bills, together with interest thereon, shall be repaid to the Treasurer of this state for the benefit of the said bank fund, out of the proceeds of the property and effects of the said banking corporation, which may remain, after payment of the debts of such corporation and the costs of the proceedings, under the direction of the chancellor. 2 D., 97. $ 4. The preceding sections of this act, and all the provisions therein contained, shall apply whenever the legislature shall repeal the charter of a banking corporation, and in every such case, the chancellor, bank commissioners and Comptroller, shall respectively possess and exercise the like powers, in all respects, as are above specified and conferred. CHAP. 18. AN ACT in relation to the Bank Fund. PASSED February 8, 1840. The People of the State of New York, represented in Senate and Assembly, do enact as follows: $1. Whenever the Comptroller shall be lawfully required issue trans- or authorized to pay or apply any moneys belonging to the ferable cer- bank fund to the immediate redemption of the notes or bills stock. of any banking corporation, it shall be lawful for him to issue tificates of to the Treasurer of this state transferable certificates of stock, in the manner prescribed by chapter three hundred and twenty of the laws of eighteen hundred and thirty-one, redeemable at any time not exceeding ten years from the date thereof, to be specified in such certificate bearing an interest |