State v. Barkman

Citations

• 91 Ohio St. (N.S.) 248

Syllabus

<p>Banks and banking — Corporations organised under free-banking act (49 O. L., 41) — Continue business until act repealed, when —Free-banking act not repealed by Thomas banking act (99 O. L., 269) — Effect of Thomas act — Criminal law — Unlawfully converting bank funds — Section 12474, General Code.</p> <p>1. Banking corporations organized under the free-banking act of March 21, 1851, and acts amendatory and supplemental thereto, by the express provisions of that act continue a body politic and with corporate succession until the repeal of that act. The effect of the repeal of section 42 of that act was to authorize these corporations to continue the business for which they were organized during their corporate existence.</p> <p>2. The act of May 1, 1908, known as the Thomas banking act, does not repeal by implication the free-banking act of March 21, 1851, and acts amendatory and supplemental thereto. On the contrary, section 35 of that act expressly reserves to all such corporations theretofore organized under any law of the state the right to continue business and exercise the powers they possessed at the time of the passage of that act without prejudice and saves to all such associations and corporations all the rights, privileges and powers theretofore conferred upon them, except that after April 1, 1910, they are required to conform their business and transactions to the provisions of that act.</p>