Section 1^st Be it enacted by the people of the state of Illinois represented in the General Assembly, That the power to “Regulate[,] amend[,] modify[,] or change any of the provisions of the Act entitled “An Act to incorporate the subscribers to the Bank of the State of Illinois” shall be and is hereby forever vested in the Legislature of this State.

Section 2. That hereafter if the said Bank shall at any time suspend specie payments, or refuse to redeem its obligations in specie for a longer period than thirty days, such suspension or refusal to pay specie as aforesaid, shall work a full and complete forfeiture of its charter; and the said Bank shall forthwith proceed to wind up its Business, in the manner prescribed in the Act to which this is an amendment; And if the said Bank shall hereafter suspend specie payments it shall forfeit for the period it shall so suspend six per cent interest, on all debts and obligations due to said institution.

Section 3. The individual property of each stockholder in the said “Bank of the State of Illinois” shall be held liable for all debts and responsibilities of said Bank in any manner incurred but no individual property of any stockholder or stockholders, shall be held responsible, for the debts or liabilities of the Bank, to a greater extent, than the equal pro rata portion on his, her[,] or their shares of stock in said Bank, so that the liabilities of each stockholder, shall be to all the liabilities of the Bank, as his, her[,] or their stock shall be to the whole stock of the Bank; Provided also that the state shall be responsible for its share of the stock in the same proportion as individuals, as set forth in this section.

Section 4 The Bank shall hereafter restrict its loans to the sum of ten thousand dollars and no one person, or body politic or corporate shall, in future, either directly or indirectly be allowed to borrow a sum exceeding ten thousand dollars

---

Nor shall any one individual, be taken as security for a greater sum than ten thousand Dollars, in addition to his[,] her, or their own proper loan.

Section 5. It shall be the duty of the Governor, by and with the advice and consent of the senate to appoint three persons well skilled in financial affairs, who shall constitute and be known and styled as the “Board of Commissioners of the State Bank of Illinois” who shall continue in Office for the term of two years from the time of their appointment, and untill others are appointed and qualified, and who shall severally take and subscribe an oath of office, faithfully and impartially to discharge the duties of the same, previous to entering upon their duties.

Section 6. It shall the duty of the Bank Commissioners appointed as aforesaid, twice in each year, in the months of June and December, to examine into the condition of the State Bank and its Branches, and make report to the Governor the following information: first, Whether or not the State Bank and Branches have complied with all the conditions required by Law; 2^nd The condition of the State Bank and Branches restively respectively, setting forth fully and clearly the capital employed and the business done by each, the amount of specie in the vaults of each, and the circulation, discounts[,] and deposites, public and private of the principal Bank and each of the Branches.

Section 7. The said Commissioners shall receive in full compensation for their services, the sum of three dollars per day, to be paid by the Bank, for each and every day employed in the discharge of their duties.

Section 8. The said State Bank shall proceed forthwith, as its debts become due, to reduce the dues and liabilities of each individual firm or creditor, indebted to the Bank to the limits prescribed in the fourth section of this Act.

Section 9. The said Bank is hereby authorized to increase its permanent loan on real estate security to the sum of one million of dollars, upon the same conditions as is already prescribed by Law, for loans on real estate security; provided however, that no loan shall be made, from the real estate fund, to any one individual, of more than two thousand dollars; and provided further that no individual whose real estate loans now equal two thousand dollars, shall be entitled to any further loans, from the real estate fund.

Section 10. And it is hereby further enacted that the present suspension of specie payments by the state Bank of Illinois is legalized, and the said Bank is further authorized to continue to suspend or refuse specie payments, until a proper regard to its safety, the interest of the state, and the general resumption of specie payments by other suspended Banks, shall render its resumption necessary and safe, any provision of Law to the contrary notwithstanding. And it is hereby expressly provided that the foregoing provisions of this Section are to be in force, only upon the condition that the State Bank shall before the day of next consent to the modifications of its Charter, contained in the foregoing sections of this act.

Section 11. The Board of commissioners, appointed by the 5^th section of this Act shall procure a correct list of the names, at the same time they make their semi-annual Reports, of each individual or firm, body politic [...?] or corporate indebted to the Bank and its Branches, showing the time when, and the amount Borrowed of each. The said list shall be filed in the Office of the Secretary of State, subject to inspection at all times by any and all persons calling for the same.

Section 12. No Bank Director shall borrow money of the Bank over which he presides as director, during the term of his service as director of said Bank.

Section 13. The state hereby reserves the liberty of subscribing at any future time, any amount of stock not exceeding one and a half millions of Dollars to the said State Bank of Illinois.

Section 14. The Bank is hereby authorized to demand and receive the following increased rates of interest upon all loans for ^a^ term of ninety days or less. per cent cent interest: upon all loans for a term of one year, and over ninety days per cent interest; and upon all loans for a term over one year ten per cent interest. per annum.

Section 15. The the Bank is hereby authorized to pay off all Warrants issued by the Auditor of Public Accounts and charge the State interest upon the same till redeemed.

Section 16. The Privileges and Benefits contained in this Act are to be in force upon the condition that the Bank shall consent to all the modifications ^of its charter^ in the foregoing sections of this Act.