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Early Michigan

Early Banks Of Michigan

The corporation, by the terms of its charter, was to expire on the first Monday of June, 1839, but by an act of the legislative council, approved February 25th, 1831, it was extended 25 years longer, and by a subsequent enactment the corporation was allowed to increase its capital stock and to establish a branch bank at Bronson, now Kalamazoo.
The two above named are all the banks which derived their corporate existence from the governor and judges of the territory of Michigan. In 1823 the legislative power was taken away from them by act of congress, and conferred upon the governor, and a newly constituted body denominated the legislative council. The first session of the legislative council was held at Detroit on the 7th day of June, 1824.

Michigan


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