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the Senate unel

an all

To reside at the seat of Gov. onment.

Seal of otlie

Letter book.

To hayo ae. cess to the


To submit bix

Senate and Speaker of the llouse, a list of all persons who are

To report to defaulters to the State on account of any public moneys; and if, long in such list, the name of any member of the General Assembly and list of doshould appear, the Tlouse to which he may have been returned shall take such action as may be deemed necessary.

SEC, 71. The Auditor shall reside at the seat of the Government and shall keep his office in the State Ilouse.

SEC. 72. He shall keep a seal of office, to be furnished at the expense of the State, which shall be used to authenticate all writings, papers, documents, etc., certified from his office.

SEC. 73. He shall also keep a letter book, in which shall be copied all official letters which may be written by him.

SEC. 74. lIe shall have authority and power to a minister Authority to oathis required and allowed by law in all matters touching the winnister duties of his office..

SEC, 75. lie shall have full access to the books of the Treasurer and to all ofiices of the State for the inspection of all books, Spokorrus. accounts and papers which may concern the cluties of his office, urer and other

SEC. 76. It shall be the duty of the Auditor to submit all of his books, accounts, vouchers and other official documents in his Iwoks, accounts office to a joint committ'e of the General Assembly, to become wint appointed immediately after the commencement of each regular the General As

sembly: session, for examination and settlement. Sec. 77. In case of death, sickness, absence from the

Vacancy tem State, removal from office, resignation or impeachment, porrily tiledi. the Governor shall appoint an Auditor of Public Accounts for the time being, until successor

be elected according to law,or until such absence or disability shall cease.

SEC. 78. The person appointeil under the provisions of the preceding section shall give the same boud and security, and bond, etc. receive the same compensation allowed by law to the officer whose duty he is appointed to perform, in proportion to the time he shall hold the oflice; and in all cases the sum allowed him shall be deducted from the salary of the ollicer whose office he may have been appointed to fill temporarily.

SEC. 79. Immediately after the election and qualification of Accounts of the Auditor, or the resumption of his luties, if in the meantime Auditor pro

tenpere to lo an Auditor pro tempore shall have been appointed, the General Sur Asseinbly, if in session, if not, the Governor, shall cause a settlement of accounts of the Auditor pro tempore remaining usettlerd, and cause a certificate of such settlement to be made out and delivered to the person entitled thereto, showing the balance of money, securities, and effects for which he is accountable, and what has been delivered to his successor.

SEC. SO. It shall be the duty of the Auditor of Public Accounts, whenever he shall grant a warrant or certificate of indebtedness, in settlement of any interest warrant or coupon pons to can due by the State, to cause said interest warrant or coupon to be cleanul regina canceled or detacell, by being puncher twice in the centre, and pasted in a register, to be called Register of Cancellor Defacer Coupons, which interest warrant or coupon, when so canceled or

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tempore to give tra session.


Interest War rants and con




without bond filed.

1872-61. .

Treasurer and other minister

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1870-126, ex- defaced and pasted in said register, shall be kept as vouchers in

his office.

SEC. 81. The Auditor of Public Accounts shall not recognize to recognize

any Tax Collector or Assessor until his bond and oath of office shall have been filed in the office of the Auditor of Public ACcounts, and his bond recorded in the mortgage office of the parish for which he is appointed..

SEC. 82. Hereafter it shall not be lawful for the Auditor of Anditor, Public Accounts, the State Treasurer, or other niinisterial

officers of the State, to be or appear in any court of the State, ial oflicers to either in person or by private counsel, to institute, maintain, appear in court by Attorney defend, prosecute, or in any manner interfere, or attempt to conGeneral or Dis- trol any suit, writ, or other legal process (except criminal pro

ceedings) which may be brought against them in their official capacity, or in which the State may be interested, directly or indirectly, or be in any wise a party; but in all such cases the papers shall be served, if the action be instituted in the parish of Orleans, on the Attorney General, and if in any other parish, on the proper District Attorney, and such officer shall thereupon have sole charge of the conduct of such action; provided, that the Governor or the Attorney General may, in any case of necessity, designate an attorney at law to assist the attorney of the State, or in case of his absence or inability to act, or if he be unwilling or interested, to take charge of such case, with power to act. And it shall be the duty of the Auditor of Public ACcounts, the State Treasurer and other ministerial officers of the State, or persons charged with the execution of any State contract, or act imposed by law, or pertaining to the duties of his station, on application, or if he have doubt as to the proper course to be pursued, to refer the matter, with all information in his possession, to the Attorney General of the State.

SEC. 83. Hereafter it shall not be lawful for any court of the State to entertain, or maintain or recognize any action, suit, writ or other legal process, or any pleading in any case wherein the Auditor of Public Accounts, the State Treasurer, or any other ministerial officer, shall appear as a party to the record, either in person or by private counsel, but all such proceedings shall be refused or dismissed (either ex-officio or on motion) as in case of non-suit, without prejudice to the rights of parties interested ; provided, that in every such case the officer thus unlawfully appearing shall be condemned to pay the costs of suit therein; and provided further, that notice of such dismissal shall be served on the Attorney General, or proper District Attorney, who may, on motion, re-instate and maintain such action as it stood at the moment of dismissal, without prejudice to the rights of parties interested, if he deem it expedient so to do.

SEC. 84. In every case in which process issues from any

court against the Auditor of Public Accounts, or any other cess of Court. ministerial officer of the State, service shall also be made on

such officer, and he shall, be amenable, as heretofore, to all process of court, and subject to punishment for any violation of any order, writ or judgment, as now provided by law, and such further punishment as the court may deem necessary to maintain its jurisdiction and enforce its mandates.

Duting of State Courts.

Anditor amenable to pro



Free banking authorized.

Auditor and Treasurer .. 99

Powers granted...

86 Securities to be delivered to the

Capital stock



Number of persons necessary for Redelivery of securities



Penalty for Auditor countersign-

Powers of Banking corporations.. 87 ing bills beyond the amount of

Written articles of association,

stocks deposited ....... .100

how executed and published. 88 Plates, etc., to be kept by the Au-

Act to be recorded......

88 ditor ..


Anditor to be furnished with a Expenses of engraving, etc., to be


88 paid by the banks ...........101

Notice to be given by publication, 88 Form of the circulating notes of

Contents of act of incorporation.. 89 corporations....


Modifications, how made......... 89 Penalty for persons not authorized

Stock subscribed, when to be paid 90 issuing notes, and circulating

Restrictions as to loans to stock- the same as money.



Proceedings on

failure to pay

Shares of stock to be personal pro-

specie on demand.


perty, how transferable... 92 Auditor to give public notice .... 103

Liability of stockholders..

92 | Mode of proceeding to put banks

Liability of assignees of stock.... 93

in liquidation after protest... 104

Stockholders, how exonerated All transfers prohibited after pro-

from liability:


test ...


Charter, how forfeited

94 Notes protested to be a lien ......105

Proceeding in case of forfeiture... 94 Auditor in certain casos to sell the

Duty of Auditor in causing to bo securities to be deposited with

engraved circulating notes... 95


Auditor to countersign, number Proceeds of sale, how applied . 106

and register all notes... 95

Appropriation of the proceeds of

Notes, their form and device...... 95

sale of securities by the Au-

Bonds and stocks to be assigned



to the Auditor by banks, for Manner of making up doficiency

which they shall receive circu-

when the proceeds of sale are

lating notes......


insufficient to pay the circulat-

Anditor, restriction of, in taking

ing notes.....




Responsibility of stockholders....107

Anditor, duty of, as regards the

Damages due holders of protested

interest on bonds and stocks. 97 paper .

. 108

Iris duty in case of the deprecia- Rates of interest chargeable by

tion of security..

97 corporations ...


When to institute proceelings Amount of cash, bills and dis-

against banking companies .. 97 counted paper, banks are re-
Appeal to the District Court.. 97 quired to have on hand ......110
To bo tried by preference......... 97 Penalty for banks falling below
Securities to be held for redemp-

the proportions to cash liabili-
tion of circulating notes...... 98 ties provided in preceding sec-

Transfer and canceling of securi-

tion ..


ties ......

98 | Banking companies established out

Canceling mutilated notes........ 98 of New Orleans, may have an
Description of the securities de- agency in New Orleans.......112

posited to be filed with the Powers and duties of State Treas-

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urer and Secretary of State...113 Publication, how verified ........126 Quarterly statement to be made Omission to make such publica

by the banking companies....113 tion subjects the corporation Quarterly publication of state

to fine.......

.127 ments ...

114 Administration on dividends, etc.128 List of stockholders to be fur- Legal proceedings tried by prefernished.......

129 B:wks to be banks of deposit and Banking institutions in parish of discount, as well as banks of

Orleans to make reports......130 circulation

..116 State Treasurer to publish report. 130 Capital stock, how taxed.. ..117 | Penalty for failure to make report 131 Ilow banks may take up securities Report to be made by banking in

deposited with Auditor 118 stitutions outside the parish Notice to holders of notes to pre

of Orleans..

132 sent the same to the Auditor.119 To be published

.132 Notes to be presented within one Penalty for failure to comply with year.... 119 these provisions

.132 Auditor may appoint, with ap.

Form of report..

...133 proval of Governor, additional Form of report of Banking instituclerks..

120 tions baving no capital stock. 134 Said clerks, how paid............120 State Treasurer to compilo and Compensation of Treasurer and

transmit reports to the GenSecretary, how paid .........121 eral Assembly.......

...135 Stock of persons dying, being non- Right of Treasurer and Auditor to residents, how sold or trans

examine the affairs of banking ferred .. . 122 institutions ...

..136 Penalties against banks buying or Committee of General Assembly to selling produce ...

.123 examine and report the condiBank discount..

124 tion of banks and banking Annual statements of unclaimed


......137 and unsettled balances, how Banks to make and publish only and when to be published....125 quarterly reports .... 138



SEC, 85. Any person or association of persons, or corporaFreo banking tion formed in compliance with the following provisions, may

transact the business of banking in this State, and establish offices of discount, deposit and circulation for that purpose upon the terms and conditions, and subject to all the liabilities and

penalties herein described. l'owers grant

SEC. 86. Bankers and banking corporations, carrying on the business of banking, shall have power to discount bills, notes and other evidences of debt, to receive deposits, to buy and sell gold and silver bullion, foreign coins and bills of exchange, to lend money on real and personal security, and to exercise all

incidental powers necessary to carry on the business; but the capitial stock.

aggregate amount of the capital stock of the banker or corporation shall not be less than one hundred thousand dollars ; except that banks may be organized in any incorporated town, the population of which does not exceed two thousand inhabitants, with a cash capital of ten thousand dollars; where the population does not exceed four thousand inhabitants, with a cash capital of fifteen thousand dollars; where the population

Amount of

1.) 10.

Number of persons neces. sary for bank

Powers of

does not exceed six thousand inhabitants, with a cash capital of twenty thousand dollars; where the population does not exceed ten thousand inhabitants, with a cash capital of twenty-five thousand dollars; where the population does not exceed fifteen thousand inhabitants, with a cash capital of thirty thousand dollars, and where the population does not exceed twenty-five thousand inhabitants, with a cash capital of fifty thousand dollars.

SEC. 87. Any person or persons, more than five, associating 1855–214. themselves for the purpose of banking, may constitute themselves a corporation, with power and authority:

First-To have and enjoy succession by a corporate name, to be ing. selected by themselves, for a period that shall be expressed and

ing corporalimited in the articles of association, not exceeding twenty years, tions. and by that corporate, name to sue and be sued, plead and be impleaded, appear, answer and prosecute, in any and all courts of justice and elsewhere

SecondTo hold, receive, purchase and convey, by and under their corporate name, such property, real and personal, as may be indispensable to the objects of the association. The real estate which such corporation may lawfully purchase, hold and convey, shall be :

I. Such as may be necessary for the proper transaction of their business ;

II. Such as shall have been mortgaged to them in good faith as security for loans;

II1. Such as shall have been conveyed to them in satisfaction of debts previsusly contracted bona fide in the course of their business; an 1

IV. Such as they may purchase at sales under judgments of mortgages held by themselves, or in which they may have an interest, by being subrogated to rights, according to article two thousand one hundred and sixty-one of the Civil Code; but they shall not have power to hold any real estate, acquired in any way, except such as may be required for the transaction of their business, for a longer time than five years.

Third-To make and use a corporate seal, to be described in the articles of association.

FourthTo name and appoint such managers and directors to administer the affairs of the corporation as they may think necessary and proper, the number and style of such directors or managers being described in the articles of association, and to fix the compensation of all persons in their employment. All the managers and directors shall be citizens of the State.

FifthTo make and ordain such by laws for the proper man. agement of the affairs of the corporation as may be necessary and proper, and in conformity with the provisions of law, the articles of association and such by-laws, to repeal, alter and amend at pleasure.

SEC. 88. They shall be organized by written articles of association, executed by a notarial act, and recorded in the office of cles of nssociathe Recorder of Mortgages, or other officer exercising the func- cuted and pub. tions of Recorder of Mortgages, at the place named in the act as the place of business or domicile of the corporation; a certified corded. copy of the same shall be deposited in the office of the Auditor

Written arti.


Act to be ro

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