|
|
 |
|
ARTICLE XIII.
Banks, and other Corporations.
Section 1. The General
Assembly shall pass a general law for the incorporation of all such churches,
and religious or other societies as may accept thereof; but no special act of
incorporation thereof shall be passed.
Section 2. The General
Assembly shall pass no act of incorporation, or make any alteration therein,
unless with the assent of at least two-thirds of each House, and unless public
notice in one or more newspapers in the State shall have been given for at least
three months immediately preceding the session at which the same may be applied
for.
Section
3. No Banking corporation shall be created or continue which is composed of
a less number than twenty individuals, a majority of whom at least, shall be
residents of the State; and no other corporation shall be created or continue
composed of a less number than ten, of whom at least five shall be residents of
this State.
Section 4. No Bank Charter, or any act of incorporation granting
exclusive privileges, shall be granted for a longer period than twenty years,
and no Bank Charter shall ever be extended or renewed.
Section 5.
The Charters of Banks granted by the General Assembly shall restrict such Banks
to the business of exchange, discount and deposit, and they shall not speculate
or deal in real estate or the stock of other corporations or associations, or in
merchandise or chattels, or be concerned in insurance, manufacturing,
exportation or importation, except of bullion or specie; shall not act as
Trustee in anywise; nor shall they own real estate or chattels, except such as
shall be necessary for their actual use in the transaction of business, or which
may be pledged as further security, or 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.
Section 6. The capital stock of any Bank shall not be less than
one hundred 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.
Section 7.
All liabilities of such Banks shall be payable in specie, and the aggregate
of the liabilities and issues of a Bank shall at no time exceed double the
amount of its capital stock paid in.
Section 8. No Bank shall make
a note or security of any kind for a smaller sum than five dollars, and the
General Assembly may increase such restriction to twenty dollars.
Section
9. No dividends of profits exceeding ten per centum per annum on the capital
stock paid in shall be made, but all profits over ten per centum per annum shall
be set apart and retained as a safety fund.
Section 10. Stockholders in a
bank, when an act of forfeiture of its Charter is committed, or when it is
dissolved or expires, shall be individually and severally liable for the payment
of all its debt, in proportion to the stock owned by each.
Section 11. Banks shall be
open to inspection under such regulations as may be prescribed by law, and it
shall be the duty of the Governor to appoint a person or persons, not connected
in any manner with any Bank in the State, 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.
Section 12. Non user for the
space of one year, or any act of a corporation, or those having the control and
management thereof, or intrusted therewith inconsistent with or in violation of
the provisions of this Constitution or of its charters, 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 appointment of officers to settle its affairs, and no forfeited
charter shall be restored. The foregoing provision shall not be construed to
prevent the General Assembly from imposing other restrictions and provisions in
the creation of corporations.
Section 13. The General
Assembly shall not pledge the faith and credit of the State, to raise funds in
aid of any corporation whatsoever.
Section 14. The General
Assembly shall at its first session, have power to regulate, restrain and
control, all associations claiming to exercise corporate privileges in the
State, so as to guard, protect, and secure the interests of the people of the
State, not violating vested rights, or impairing the obligation of
contracts.
| NEW AND
NOTEWORTHY
ON FLORIDA MEMORY |
 |
|
|
|
|
 |
|
 |
|
 |
| Migrant Workers During the Great Depression in Florida These images were created by the Farm Security Administration in order to document the hardships of farm workers during the Great Depression.
|
|
Baseball in Florida From Joe DiMaggio to the All American Girls Baseball League, this exhibit features historic baseball images from the 19th and 20th centuries. |
|
Spanish-American War The port city of Tampa served as the primary staging area for U.S. troops bound for the war in Cuba. |
|
|
