Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1898-09-15

n
seCuJha1i refuse 10 submit the books. pa
bsnA ~ concerns of such bank to the in
ptI,in of the bank commissioner, his
spstv or examiner appointed hereunder
e.irsfilse TO be examined on oath touching
o. !enac5cerns of the bank, the bank COM
ne tNrer may, with the approval of the
H..r,sv-general, institute proceedings for
AuOarnointment of receiver OF such bank
uVu'nd up its business.
70 ton 10 Every officer or employee of
= bank required by law to take any oath
SH s,r,uation, who shall wilfully swear or
81 an falsely upon any material matter,
Asu he deemed guilty OF perjury, and
In conviction thereof. shall be punished
y rroyided by the laws OF this state for
a. punishment of perjury.
seton 20. Any bank organized under
III sct may reorganize under the laws Of
| H. United States as national bank. As
I'm as such bank shall have obtained the
s"vrifcate from the comptroller of the cur
800 author .zlng 1t to commence business
Ter the CAited States banking law, such
.s..1rrranizpi bank shall take and hold all
| ~ M assets, real and personal. of such
q - orraniZed under this act, subject to
| IN liabilities existing against said bank Or
-"pized under this act, at The time of such
organization.
S.sfIon a. Any national bank author
81 M dissolve, and which shall have ia
| In The necessary steps to effect dissolu-
.,,r may reorganiZe under this act, upon
~ consent in writing of the owners of
,wo.,hirds of the capital stock OF such
fs1k and with the approval of the bank
commissioner Such stockholders shall
oake execute and acknowledge articles Of
imitation as required by this act, and
s.sU sci forth the said written consent of
rrb stockholders Upon the filing of said
srtslgs as provided by this act and upon
,bsspuroyal of the bank commissioner such
fsrk shall be deemed to be reorganzed
raider this act. and thereupon all assets,
real and personal. of such dissolved ma
f51al bank shall he vested in and be and
become the property of such reOrganized
s4nk subject TO all liabilities Of such ma
fjgnal bank not liGuidated before such re-
EXAMINATION
sagrIon o. A bank which is in good faith
-,r5iug No it's business, for the purpose OF
Consolidating with some other bank. may
transfer its resources and liabilities to the
hank with which II is In process of con-
soI33tian: but no consolidation shall be
made without the consent of the bank com
missioner, and not then to defeat or de-
maud any of the creditors in the collection
ol their debts against SAID banks, or either
Of them,
Section O. Any bank organized or doing
business under the provisions of this act,
nav 20 into liquidation by vote OF its
stockholders owning two-thirds Of the capt.
sl stock. Whenever vote Is taken TO 80
mo liluidation, IL shall be the duty OF the
hoard of directors to cause notice OF this
fact 10 be certified, under the seal OF the
link by its president and cashier, to the
bank commissioner, ard publication there
Of notifying the creditors to present their
claims against the bank for payment, SHAH
~ made once In each week for eight sue
essiye weeks in the Official state paper,
and also In newspaper published in the
village city or county IN which the bank
!, located, and If no newspaper Is there
DgHIshed then IN the newspaper published
4, the nearest county seat,
Secaon e. Every bank shall keep on
nrd al all times at last fifteen per cent
o. It's total deposits. at least siX-htteenths
@. which shall be In lawful money, and the
ray,, i'm banks approved by the bank COM
missioner as reserve hanks; except IN the
ease of banks which shall he approved by
he bank commissioner as reserve banks,
which banks shall at all times keep on
hand Az least twenty-five per cent OF thelr
total deposits, at least two-tifths of which
shall be u lawful money, and the balance
may be- on deposit IN banks approved by
ta bank commissioner as reserve banks.
Section - Whenever the reserve OF any
bank shall fall below the amount required
herein to be kept such bank shall not IN
crease It's loans or discounts otherwise tnan
y 3sCOuuting or purchasing bills or eX-
change uayable at sight or on demand,
and The bank commissioner shall potlly
any bank whose reserve may be below the
amouut ucre.n required. to make good such
reserve. and In case the bank fans Tor thlrty
days thereafter to make good such re-
,sg approval Of the attorney general, In
S,i,utr proceedings for the appointment 81
a receiver, ana to wind up the business of
the bank,
person. CO-partnership or corporation, 10
any hank for money borrowed, including
10 the liabilities of the co-partnershlp, the
liabilities of the several members thereof,
except special partners, shali at no liihe
exceed ifteen per cent of the amount OF
capital and surplus of such bank. but the
t.,clWuting Of bills of exchange, drawn IN
good ilith against actually existing values
and the GisCOunung OF commerclai OF pusl-
hess paper actually owned by the person
negotiating the same, shall not be consld-
sfsa as money borrowed, provided that by
8 Wu-thirds vote OF the directors, the IA
h,t.us of any person, cO-partnershlp or
clrp0ration may be increased TO total
sum mot exceeding twenty-five" per cent OF
he capital and surplus Of such bank.
Section a. No bank shall take Tor securl-
% for any loan or discount lien upon
suy part Of It's capital stock. No bank
Shall I've the holder of or purchaser OF any
portion Of its capital stock, unless Such
purchase shall be necessary 10 prevent loss
upon q debt previously contracted IN Eooi
faith, stocks so purchased shdH IN no
case DO. held by the Dank Tor lolsel t.t uIG
than six months If the stock can be SOLD
iar the amount of the claim OF the BANK
against the same, and 1t must be sold Tor
the best price ubtdinable within one year
lt l' shall be CanCelel, anu SHdit tutu
amount 10 a reduction of the capital stock,
provided that if such reduction shall re-
agtc tie capital stock below the minimum
required by law, such capital stock sha'i
b again increased to the amount required
aE law. as provided herein
Section 2S 1t shall not be lawful Tor any
bank ,l loan to any of its officers, directors,
clerks or employees. any OF the funds OF
t5e bank unless the same shall have been
authorized. both as to amount ana secut-
rs. uy resolution of the board OF directors
10 De- recorded
Section g. No bank shall lend an
amount exceeding twenty per cent OF lls
.sg.#. stock upon mortgages, or any other
ig-W gf real estate security. except on me
4lupu.a of a resolution by a two-thlrds
Vote .. the board OF directors. specifying
some larger amount which its officers may
loan upon real estate security; provided,
That iU no event shall any bank so loan an
amount to exceed twenty-five per cent Oi
.he aggregate of its capital, surplus ana
Deposits and provided, tina BANKS dong
.s... I'm villages or cities hdNnE less
.a. H thousand inhabitants urdet the
last Official census, may loan a sum not 10
A-a. thirty-thrce and one-thlrd per
- u the aggregate OF its capt.
- surplus and deposits, upon Ieal
STATE security The Limitation IN
# section shall not preclude any
from taking real estate security, upon
~. ..4ahtg1uess previously NoulIaSt ~ ~
aita upon personal security, and pro-
.. further. that any bank having taken
- estate security for such debts 50 pre-
... .4n-r9cted which shall have car