BANKS. 11

the United States, and a majority of them citizens of this
State, may associate to establish a bank under this Article,
upon the terms and conditions and subject to the liabilities
prescribed herein. The aggregate amount of capital stock for
any bank shall not be less than ten thousand dollars in towns
or villages having less than fifteen hundred inhabitants, and
shall not be less than twenty thousand dollars in towns, vil-
lages or cities having more than fifteen hundred and less than
thirty-five hundred inhabitants, and shall nbt be less than
twenty-five thousand dollars in towns or cities having more
than thirty-five hundred and less than five thousand inhabit-
ants, and shall not be less than thirty thousand dollars in any
city having more than five thousand and less than ten thou-
sand inhabitants, and shall not be less than fifty thousand dol-
lars in any city having more than ten thousand inhabitants
and less than fifty thousand inhabitants; and shall not be
less than one hundred thousand dollars in any city having
more than fifty thousand inhabitants and less than one hun-
dred and fifty thousand inhabitants, and shall not be less than
two hundred thousand dollars in any city having more than
one hundred and fifty thousand inhabitants; and may start
business when one-half of the capital provided for in this
section shall have been paid in full, and the remaining one-
half within one year from the date of its organization. Pro-
vided that this Section shall not apply to any incorporated
banks now in existence; and provided further that this Sec-
tion shall not apply to any person or copartnership now en-
gaged in the banking business in this State.

21. The persons associating to establish a bank under this
Article shall make, sign and acknowledge written articles of
incorporation, containing:

First. A declaration that they associate for the purpose of
forming a banking corporation under this Act.

Second. The name of such bank. This name shall be in no
material respect similar to the name of any other bank in the
same county or city.

Third. The particular village, town or city and county
where such bank is to be located.

Fourth. The amount of capital stock, which shall be divided
into shares of not less than ten dollars.

Fifth. The period for which such bank is organized, not
exceeding forty years.

22. The articles of incorporation shall be executed in tripli-
cate by the persons joining therein, before any officer author-
ized to take acknowledgments, after they have been approved,
in writing, by the Bank Commissioner, who shall have power