tive shall have a right to make extracts from such book, No transfer valid, unless entered in book.and no transfer of such stock shall be valid for any purpose whatever, except to render the person to whom it shall be transferred liable for the debts of the company, according to the provisions of this chapter, until it shall have been entered therein, as provided in this section, by an entry showing to and from whom transferred. Such book shall be presumptive evidence of the facts therein stated, in favor of the plaintiff, in any such suit or proceeding against such company, or against one or more stockholders. Neglect in relation to book. Penalty.Every officer or agent of any such company, who shall neglect to make any proper entry in such book, or shall refuse or neglect to exhibit the same, or allow the same to be inspected, and extracts to be taken therefrom, as provided by this section, shall be deemed guilty of a misdemeanor, and, upon conviction thereof, shall be punished by fine not exceeding four hundred dollars, or by imprisonment not exceeding six months: and the company shall forfeit and pay for every such neglect or refusal, to the party injured thereby, all the damages resulting therefrom, and every company that shall neglect to keep such books open for inspection as aforesaid, shall forfeit and pay the sum of fifty dollars for every day it shall so neglect; to be sued for and recovered in the name of the United States, by the district attorney of the county in which the business of such corporation shall be located, or of the county to which it may be attached for judicial purposes.
Company so formed, prohibited from banking.Sect. 21. Any company or corporation formed and organized under the provisions of this act, is hereby prohibited from exercising any banking powers, under any pretence whatever, under a penalty of forfeiting their right of incorporation under or by virtue of this act.
Take effect, when.Sect. 22. This act shall take effect from and after its passage.
- Approved May 7, 1862.
