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An Act to raise a Revenue for the State of Florida, and defining the duties of the assessors and collectors thereof. 1845 21 (1845.6)

handle is hein.slavery/ssactsfl0160 and id is 1 raw text is: Lo'naitution of thd Stala cf Florida. 21 received towards, or in satisfaction of previously contracted debts, , or purchased at legal sales, to satisfy such debts; of which they shall be required to make sale within two years after the acquisition thereof. 0. The capital stock of any bank, shall not be less than one hun...pialstock. dred thousand dollars, and shall be created only by the actual payment of specie therein; and no bank shall borrow money to create or add to its capital, or to conduct its business, and no loans shall be made on stock. 7. All liabilities of such banks, shall be payable in specie, andLiabilities to b, the aggregate of the liabilities and issues ofa bank, shall at no timepaid in sl.ecie. exceed double the amount of its capital stock paid in. 8. No bank shall make a note or security of any kind, for aNot to isto smaller sum than five dollars; and the General Assembly may in-notcumdur livo crease such restriction to twenty dollars. dollars. 9. No dividends of profits exceeding ten per centum per annumDividOndg. on the capital stock paid in, shall be made, but all profits over ten per conturn per annum, shall be set apart and retained as a safety fund. 10. Stockholders in a bank, when an act of forfeiture of its charterStock holder in. is committed, or when it is dissolved or expires, shall be individu.dividuallyliablo ally, and severally liable for the payment of all its debts, in propor- tion to the stock owned by each. 11. Banks shall be open to inspection, under such regulations as may be proscribed by law; and it shall be the duty of the govor-Exalitiation. nor to appoint a person or persons, not connected in aoy manner with any bank in the Slate, to examine at least once a year into their state and condition ; and the officers of every bank shall make quarterly returns to the Governor, of its state and condition, and the names of the stockholders, and shares held by each. 12. lVom urer for the space of one year, )r any act of a corporaForfoituro. fion, or those having the control and manage(nant thereof or in- trusted therewith, inconsistent with, or in violation of the provisions of this constitution, or of its charter, shall cause its forfeiture ; and the general Assembly shall by general law, provide a summary. process for the sequestration of its effects and assets, the appoint. equcatrations. mont ofofficers to settle its afriirs, and no forfeited character shall be restored. The foregoing provisiops shall not be construed, to prevent the General Assembly from imposing other restrictions and provisions, in the creation of corporations. 13. The General Assembly shall not pledge the faith and crod-Faith and cred. it of the Stat,, to raise funds in aid of any corporation whatso.it of state. ever. 14. The General Assembly shall at its first session, have pow- er to regulate, restrain and control, all associations claiming to ex.Powcr of Gen. erciso corporate privileges in the State, so us to guard, protect and.t Ukingu secure the interests of'the peoplo of tme State, kiut violating tostdcorporationo; rights, or impairing thfe obligation of contracts,

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