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ARTICLE 3--APPROPRIATION FOR SERVICES IN FOURTH
LEGISLATIVE ASSEMBLY.

SECTION.

SECTION.

1. Appropriation for services in 2. Time of taking effect.

Fourth legislative assembly.

AN ACT making appropriations for the expenses of the officers and employes
of the Fourth Legislative Assembly.

Be it enacted by the Legislative Assembly of the Territory of
Oklahoma.

tion for ser

bly.

SECTION 1. That there is hereby appropriated out Appropriaof any money in the Territorial treasury, not other- vices in Fourth legiswise appropriated, the sum of five thousand dollars, lative assemor so much thereof as may be necessary, to pay the services of the officers and employes of the Fourth Legislative Assembly of the Territory of Oklahoma, and the Territorial Auditor shall draw warrants for such portion thereof as may be by him found due, upon auditing the respective claims thereof, in favor of the persons to whom such claims are allowed, upon the Territorial treasury.

SECTION 2. This act shall take effect and be in force from and after its passage and approval. Approved January 26, 1897.

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AN ACT making appropriations for the expenses of the officers and employes and contingent expenses of the Fourth Legislative Assembly.

Be it Enacted by the Legislative Assembly of the Territory of Oklahoma:

expenses,

lative assem

SECTION 1. That there is hereby appropriated out Contingent of any money in the Territorial treasury, not other- Fourth legiswise appropriated, the sum of five thousand dollars bly. or as much thereof as may be necessary to pay

the services of the officers and employes, and for the contingent expenses of the Fourth Legislative Assembly of the Territory of Oklahoma, all claims for contingent expenses to be allowed upon vouchers issued by the President of the Council and the Speaker of the House, respectively, upon bills allowed by the Ways and Means Committee of their respective Houses, and the Territorial auditor shall draw warrants for such portion thereof as may be by him found due, upon auditing the respective claims thereof, in favor of the persons to whom such claims are allowed, upon the Territorial treasury.

SECTION 2. This act shall take effect and be in force from and after its passage and approval. Approved February 27, 1897.

ARTICLE 5. -- REPEALING LAW NAMING PUblic

Repeals sec.

25, chapter 1,

sion laws of 1895.

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1. Repeals sec. 25, art. 1, chap. 4, 2. Time of taking effect.
session laws, 1895.

AN ACT to repeal section 25, of article 1. of chapter 4, of the Session Laws
of 1895, entitled, "An Act making appropriations for current expenses
for the Territory of Oklahoma for the years 1895 and 1896.'

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Be it enacted by the Legislative Assembly of the Territory of
Oklahoma:

SECTION 1. That section 25, of article 1, of chapter article 11, ses- 4, of the Session Laws of 1895, of the Territory of Oklahoma, entitled, "An Act making appropriations for current expenses for the Territory of Oklahoma for the years 1895 and 1896," be, and the same is, hereby repealed.

SECTION 2. This act shall take effect and be in force from and after its passage and approval. Approved March 12, 1897.

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AN ACT in relation to banks and banking; creating a banking board and defining its powers and duties; providing for the incorporation of banks; defining the duties of banks and their officers; fixing liabilities of stockholders and officers; fixing amount of capital stock; prohibiting certain uses of capital stock and other assets; providing for receivers

Time for banks to comply with this act.

62.

Repeal of laws in conflict, and saving violations of laws repealed.

Creation, or

ganization

banking

board.

of insolvent banks and defining their duties; creating a bank examiner
defining his duties and fixing his compensation; exempting banks from
attachment and execution, and requiring persons now engaged in bank-
ing business to conform to the provisions of this act and fixing the time
therefor.

Be it enacted by the Legislative Assembly of the Territory of
Oklahoma:

SECTION 1. The Governor, Secretary, Treasurer, and duties of Auditor and Attorney General of this Territory, shall be, and they are, hereby made a Board which shall be designated and known as the Territorial Banking Board, of which the Governor shall be President, the Auditor shall be Vice-President, the Secretary shall be Clerk, the Treasurer shall be Treasurer and the Attorney General its Acting Attorney, and a majority of the members of the board shall constitute a quorum; and [shall have] control of any and all corporations, partnerships, firms and individuals and any and all associations of any and all persons engaged in transacting and carrying on a banking business in this Territory.

Persons doing banking business

must incorporate.

Number of

persons who

rate as a

bank and their residence.

SECTION 2. No corporation, partnership, firm or individual or any association or either of them, shall be permitted to engage in, transact or carry on any banking business, nor engage in any business by, or in which shall be received any deposit or deposits, either in gold, silver, coin certificates, treasury notes, gold or silver certificates or other thing used and current as money, for the purpose of loaning the same, without being first chartered and incorporated as a bank under the provisions of this Act: Provided, That it shall not be necessary for any banking institution now engaged in the banking business to incorporate under this act; but in all other things such banks shall be governed by the provisions of this act, and make the showing required of banks making application for a charter.

SECTION 3. Any three or more persons, a majority may incorpo- of whom shall be residents of this Territory, may organize themselves into a banking association and be incorporated as a bank and shall be permitted to carry on the business of receiving money on deposit, either with or without interest, and of buying and selling exchange, gold, silver, coin, bullion, uncurrent

money, bonds of the United States, or of this Territory, and of cities, counties and school districts therein, and territorial, county, city, township, school district or other municipal indebtedness, of loaning money on chattel and personal security, and to own a suitable building, furniture and fixtures for the transaction of its business.

procured, plication

shall contain.

SECTION 4. Before the charter of incorporation How charter provided for in section three shall be issued, satis- and what apfactory application by articles of incorporation shall therefor be presented and filed with the clerk of the Territorial Banking Board, setting forth: First, The name of the proposed corporation which shall be a different name from any corporation heretofore incorporated in this Territory, and no corporation shall hereafter be incorporated under a name similar to one then in use in this Territory. Second, The statement of the object and purposes of the corporation. Third, The name of the city or town and county in which the corporation is to be located. Fourth, The amount of the capital stock, the number of shares into which it is divided and the par value of each share, which in no case shall be less than fifty dollars. Fifth, That all the shares have been actually and bona fide subscribed and one-third of the par value of each paid up in lawful money of the United States or its equivalent in bankable notes or securities actually worth face value, and the same in the actual possession or control of one or more of the persons named in said articles of incorporation as director, giving the name or names of such person or persons. Sixth, The names and places of residence of the several holders of and subscribers to the stock of the corporation, the number of shares taken by each, the par value thereof and the amount of cash money paid thereon. Seventh, The names and places of residence of the persons agreed upon as for directors for the first year and the number of shares of stock held by each. Eighth, The length of time the corporation is to continue, which in no case shall exceed fifty years.

be subscribed

SECTION 5. In addition to articles of incorporation, Stock must there shall also be presented to and filed with the for in dupliTerritorial Banking Board, one of the two original cate.

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