[No. 66.] Making or exhibiting cates, checks, entries, &c. with intent to deceive. AN ACT more effectually to protect the public against various frauds. Section 1. Be it enacted by the Senate and House of Reprefalse certifi- sentatives of the State of Michigan, That if any president, director, &c. or false cashier or other officer of any bank, or banking institution in this state, shall hereafter make or issue, or cause to be made or issued, any false certificate, check, draft or other evidence of debt, or shall exhibit the same with an intent to deceive or defraud, or shall make any false entry or cause the same to be done, or shall omit to make any true entry in the proper book or books of said bank, with an intention to deceive or defraud, or shall make, or publish, or exhibit any false statement concerning the affairs, conduct or condition of any bank, knowing the same to be false, he or they, so offending, shall be deemed guilty of felony, and upon conviction, shall be fined in any sum not exceeding ten thousand dollars, and be confined in the state prison not less than one or more than ten years. Violating or disregarding bank, or per to be done. Sec. 2. If any officer, director, or other person employed by charter of any bank, who shall be permitted to have charge or management mitting same of its affairs in any manner whatever, shall knowingly violate or disregard the provisions or requirements of any part of the charter of such bank, or shall knowingly permit the same to be violated or disregarded, and shall not give notice thereof to the board of directors, or some public officer, within ten days thereafter, he or they, so offending, shall, on conviction, be deemed guilty of felony, and shall be fined in any sum not exceeding ten thousand dollars, and confined in the state prison not more than ten nor less than Having possession of rities and deliver them' up to receiver. one year. Sec. 3. Any person or persons having possession or control of certain secu- any securities which may have been executed under the provirefusing to sions of the general banking law, or of any books, papers or effects belonging to any bank or banking institution established or purporting to have been established under that, or any other law of this state, shall, on demand, deliver the same to any receiver appointed by the chancellor; and in case of neglect or refusal to do so, the person or persons so neglecting or refusing, shall, on conviction thereof, be deemed guilty of a high misdemeanor, and shall be punishable by fine or imprisonment, or both, at the dis cretion of the court; and shall moreover, be liable to a civil action, in the name of such receiver, for damages, and which may be commenced before any court having jurisdiction. to appoint bank of St. Sec. 4. The chancellor is hereby authorized to appoint a re- Chancellor ceiver, for the purpose of taking charge of the property and effects, receiver for and winding up the affairs of the Farmers' and Merchants' bank Merchants' of St. Joseph, at Centerville, who shall possess all the power and Joseph. authority and be subject to the same liabilities as in other cases, which appointment shall be made upon the application of the attorney general, by bill or petition filed for that purpose. hereafter to ed under ing law; banks under or issue circulation any bills. Sec. 5. No bank shall hereafter be established under or by vir- No bank tue of the act entitled "An act to organize and regulate banking be establishassociations," approved March 5th, 1837, and the act amendatory general bankthereof; nor shall it be lawful for any bank or banking association certain established, or claiming to have been established under the provi- it noti sions of said act, and which has not filed with the auditor general of this state the securities required by law, or which shall not have been organized and doing a regular and lawful banking business for at least six months immediately preceding the passage of this act, hereafter to issue or put in circulation any bank note, or to exercise any of the power and privileges of a bank or banking association under or by virtue of said act, except such as may be necessary for winding up its affairs; and if any person or persons shall violate the provisions contained in this section, or shall hereafter exercise any of the powers and privileges of banking without authority of law, he or they, so offending, shall be subject to all the pains and penalties prescribed in the first section of this act. cers not to state in a prescribed by Sec. 6. It shall not be lawful for any public officer of this state, Public offior other person entrusted with the charge or management of any use funds of of the public funds, to use, loan or dispose of the same in any manner not manner not prescribed by law; and any such officer or person law. so offending, shall, on conviction, be fined and imprisoned at the discretion of the court, and his office shall be deemed to be vacated. Approved April 16, 1839. Certain elec tions and acts lega [No. 67.] AN ACT further to amend an act entitled "An act to amend an act entitled 'An act to incorporate the village of Niles, and the act or acts amendatory thereof." " Section 1. Be it enacted by the Senate and House of Reprecorporation sentatives of the State of Michigan, That all elections held by lized. the electors of the village of Niles, since the passage of an act approved April 5th, 1838, entitled "An act to amend an act entitled 'An act to incorporate the village of Niles, and the act or acts amendatory thereof,"" are hereby legalized to the same effect as though the said election had been held according to the provisions of said act entitled "An act to amend an act entitled 'An act to incorporate the village of Niles, and the act or acts amendatory thereof,'" and all corporate acts done and performed by the common council and officers of the said corporation of the village of Niles, so elected, shall be deemed and taken as valid and binding : Provided, however, That in all other respects the said common council and the officers of the said corporation shall have complied with the laws of this state and the acts of incorporation of said village: And provided, further, That nothing herein contained shall be so construed as to take away or impair any vested right, nor to sanction any sale of real estate by reason of any tax heretofore by said corporate authorities assessed, provided for, or directed to be levied, that may have been made before the passage of this act. Approved April 16, 1839. [No. 68.] AN ACT to authorize township meetings to adjourn from one place to another. Section 1. Be it enacted by the Senate and House of Representatives of the State of Michigan, That whenever it shall become inconvenient to hold a township meeting at the place designated by any order or vote of said township, it shall be lawful for the board of inspectors, after they or a majority shall have assembled at such place previously designated, after opening the meeting, and before receiving any votes, to adjourn to some convenient place nearest to said place of meeting, and at such adjourned place forthwith to proceed with the meeting, and upon such adjournment to make proclamation thereof, and to leave a constable or some proper person to notify all persons arriving at such meeting that the meeting has adjourned, and the place to which the meeting has adjourned. Approved April 16, 1839. [No. 69.] AN ACT to incorporate the Berrien County Mutual sons and ciates a Section 1. Be it enacted by the Senate and House of Representa- Certain pertives of the State of Michigan, That James Sullivan, Cogswell their assoK. Green, Nathaniel Bacon, Cyrus Dana, Obed P. Lacy, Edwin corporation. N. Bridges, Philogene P. Maillard, Erasmus Winslow, George W. Hoffman, Royal T. Twombley, J. C. Larimore and William B. Beeson, and all other persons who may hereafter associate with them in the manner herein prescribed, shall be a corporation by the name of "The Berrien County Mutual Insurance Company," for the purpose of insuring their respective dwelling houses, stores, shops and other buildings, household furniture, merchandize and other property, against loss or damage by fire. insuring members of Sec. 2. All persons who shall insure with the said corporation, Persons and also their heirs, executors, administrators, and their assigns, become continuing to be insured in said corporation, as herein provided, corporation. shall thereby become members thereof during the period they shall remain insured by said corporation, and no longer. vacancy. Sec. 3. The affairs of said company shall be managed by a Directors; board of directors consisting of nine members, as hereinafter provided. All vacancies happening in said board may be filled by the remaining directors, and a majority of the whole shall constitute a quorum for the transaction of business. ors. Sec. 4. James Sullivan, Cogswell K. Green, Nathaniel Bacon, First directCyrus Dana, Obed P. Lacy, Edwin N. Bridges, Philogene P. Maillard, Erasmus Winslow and George W. Hoffman, shall be the first directors of said corporation, and shall continue in office for one year after the passage of this act, and until others shall be chosen in their place; which board of directors shall thereafter Directors hereafter to be elected. Directors determine rate of insurance. Members to give promissory note be elected in each year, at such time and place in the village of Niles, in said county of Berrien, as the corporation in their bylaws shall appoint; of which election public notice shall be given in at least one newspaper printed in said county, at least twenty days preceding such election. Such election shall be holden under the inspection of three members, not being directors, to be appointed previous to every election, by the board of directors; and such election shall be made by ballot, and by a plurality of votes of the members, or their proxies then present, allowing to each member one vote for every hundred dollars insured by him in said corporation. Sec. 5. The directors may determine the rates of insurance, the sum to be insured, and the sum to be deposited for any insurance. Sec. 6. Every person who shall become a member of said with surety. corporation, by effecting insurances therein, shall, before he receives his policy, deposite his promissory note, with satisfactory security, for such a sum of money as shall be determined by the directors; a part, not exceeding ten per cent of said note, shall be paid down, for the purpose of discharging the incidental expenses of the institution; and the remainder of said deposite note shall be payable in part or in whole, at any time when the directors shall deem the same requisite, for the payment of losses by fire, and such incidental expenses as shall be necessary for transacting the business of said company; and at the expiration of the term of insurance, the said note, or such part of the same as shall remain unpaid after deducting all losses and expenses occurring during said term, shall be relinquished and given up to the maker thereof. Sale of property insured. Sec. 7. When any property insured with this corporation shall be alienated by sale or otherwise, the policy shall thereupon be void and be surrendered to the directors of said company to be cancelled; and upon such surrender, the assured shall be entitled to receive his deposite notes upon payment of all losses and expenses that have accrued prior to such surrender; but the grantee or alienee having the policy assigned to him, may have the same ratified and confirmed to him for his own proper use and benefit, upon application to the directors, and with their consent, within thirty days next after such alienation, on giving proper security to the satisfaction of said directors for such portion of the deposite or premium note as shall remain unpaid; and by such ratification |