Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1898-11-03
CHAPTER I.
BANKING DEPARTMENT.

BANNING DEPARTMENT..
SECTION /. There is hereby established in this
state a banking department, which shah have
charge of the execution of the laws relating to
banks and the nankmf business IN IN mi state
banking department., and shall be under the
management and control of chiof officer, who
shall be called the bank commissioner.
SECTION e. The Bank commissioner she'll be
APP. t"tvd iy the governor, by and with the ad.
vice and consent of the senate and shall hold
his office for the term of five years. unless
removed by the governor, for good cause, and by
and with the consent of two-thirdS of the MEM
bers Of the senate. He may appoint a deputy,
and revoke such appointment at pleasure. SUCH
deputy shall possess all powers. and perform the
duties attached to the office of the bank com.
missioner during a vacancy in such Office and
during the absence or inability of his principal.
The bank comIn issioner may also employ, from
time to time, such clerks to assist him and his
deputy, in tho discharge of the several duties
imposed upon him by this act, as he shall find
necessary. The salary of the bank commissioner
shall be three thousand dollars per anulm. The
salary of the deputy and such clerks as may be
employed. shall be at such rate per annun as
the bank commissioner snail decide. not, how
ever, to exceed that OF the deputies aud clerks
Of the several STATE departments. The salaries
Of the bank commit ssiunrr, deputy and clerks
shall be paid monthly by the state treasurer,
Upon voucher countersigncd by the secretary
Of state. Vouchers for the deputy and clerks
salaries must be first approved 10y the bapt com
missioner. All actual and necessary tTaFclihE
exp 1905 of said baui commissioners deputy or
c pl. occurred III the discharge OF their dutles;
shall re fully tented upon proper vouchers and
certified in the order indicated for the salaries,
aud presented to the secretary OF state, IT al
lowed, tie secretary Of state shall conntersign
them The s.ate treasurer shall upou the pre-
s,ntNi ion OF vouchers 50 allowed and counter.
signed ray the amount "f S"ch cTunnse Within
fifteen da,s from the notice Of thor "rDuint-
mrnt respectively, the bank coNwt~ el,'"r and
his deputy shah take and suh-crtUn tbr "nfh OF
office prescribed i. the constitutions aud file
the sarnr in the office nf the SECRETARY ol ~tdte.
The said bank commiss ionerandh his deputy shall
each give to the people Of THIS state 'Iond IN
the penal sum Of tweatN five thousand dollars,
with tW" Or more ~uretes, or a surety company,
to be a proved by the state treasurer condl-
toned for the faithful discharge of the duties
utthrirlrspec iIlicrs There shall be assigned
10 said bank commissioner suitable rooms ~ the
state capitol for conducting the business OF said
dc part lnent, ,
SECTION g. The bank commit soner shall lie;
wise seal for the use of his office which shall
continue to he the seal OF said department.. A
description ot the seal WI an Impression there.
Of shall be filed in the office Of the secretary of
SECTION I. Ii shall be the duty OF the bank
comm, Toner aud lie shall have the power ey
him self hi. deputy, or by any examiner he may
appoint for that purpose, to examine, at least
once il. ach year. the cash, bills, colateral:.
s.rnritir~ books nf account, condition and nf-
fairs ~ each bank, savings association and prl-
waite bank doing business IN this state. For that
purpose he may examine on oath any Of ne
officers owners agents, clerks, customers or de-
positnrs thereof: touching the affairs and bu>i'
ness 81 such institution. The bunk commissioner
shall examine, or cause to he examined, any
bank when requested by the board of directors
Of such bank The hank commissioner shall
also ascertain whether such bank transRCts its
business at the place designated in the articles
Of inc operation, and whether its business is
conducted in the manner prescribed by law
SECTION 5. No bank commissions, deputy or
examiner shall examine a bank in WHICH he ~
Interested a stakeholder. officer, employee or
otherwise. No bank commissioned. depuP or
examiner shall examine a bank located IL the
salne village, city county with any cauk IN
which! he Is interested as Stockhud"r, othcer,
employee or otherwise. The bank COMM sioLer,
deputy and every clerk in tis department And
examiner. shall he bound by oath ~ keep secret
all of the facts aud information uh'aihed y the
course Of such examinations, except 50 lar as
the public duty OF such officer requires Inn 10
report upon, or take special action regafdlne
the affairs OF any bank, IL any bank commits
sioner. deputy examiner or clerS III such depart
ment shall disclose the name ~ ahi Debtor OF
Guy bank, or anything relative % lie rrivate
accounts or transactions of such bot \, - shan
disclose any fact obtained In the course Il bis
examination OF any bank, except a. icEria pro
vided be shall be subject. ulon cor siction
thereof to forfeiture OF his office ant To the
payment 81 fine OF not less than one hundred
dollars nor more than one thouSaud dollars, or
imprisonm MT in the state pri~at Hat than
six months mar more than two years, or TO both
such fine and Imprisonment.
SECTION g. Whenever 1t shall arpea from the
report OF any bank or the bank commissioner
shall have reason TO be.iese that the ca pltal OF
any bank il impair : q tedaced below the