Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1898-10-13
, stock No dividend shall be declared b.

/
| moneys, funds. credits, or property of the
| bank or savings association, whether own
ed oy II or held in trust, or who. without
athorlty OF the directors issues or puts
| forth any certificate of deposit, draws any
| order or bill of exchange, makes any ac-
eeptance, assigns any note. bond draft
| OH OF exchange, mortgage, Judgment or
| decree or who makes any false entry in
| an. book report or statement of the bank
| WITH intent In either case 10 inJure or de-
| fraud the bank or savings association, or
| any person or corporation, or to deceive
| any oilcer OF the bank or savings associa-
| non, or any agent appointed 10 examine
| the affairs of such bank or savings assocla-
| uCn; or any person who, with like intent
| alds or abets any officer, clerk or agent In
| the violation OF this section, upon conVic-
| ton thereof, shall be imprisoned In the
| state prison not TO exceed twenty years
| Section a. If the board of directors, or
a quorum thereof. Of any bank shall know
| ingIy violate, or knowingly permit any OF
| the ohlcers, agents or employees OF the
bank, to violate any Of the, provisions of
| TINS act and after a warning from the
| bank commissioner shall jail to make good
| any loss or damage resulting from such
| acts, or continue such conduct. il shall
| constitute ground for the forfeiture OF
| the charter of such bank. II shall be the
| duty of the bank commissioner. with the
| consent of the attorney general, to insti-
| tute proceedings TO enforce such forfeiture
| up of the affairs of such bank.
Section 30. The stockholders of every
bank snail be individually liable. equally
| and ratably. not one for another for the
| benefit Of the depositors in said bank, to
/ the amount OF their stock at the par value
| thereof, in addition 20 the amount invested
IN said stock But persons holding stock
| as executors, administrators guardians or
| trustees and persons holding stock as col
| lateral security, snail not be personally la
| Bile as stockholders, but the assets or
| funds in their hands constituting the trust,
| shall be liable TO the same extent as the
| testator intestate, ward or person inter-
| ested in such trust fund would be II liv-
| ing, or competent to act and the person
| stockholder and liable under this section.
| Such liability shall continue for sixty days
| after any transfer Of stock.
| Section 80 Whenever any deposit shall
| be made In any bank by and in the name
| of any minor or female. being or thereafter
| becoming married woman, the same shall
| be held for the exclusive right and benefit
| of such minor or female, and free from
| the control or lien of all persons whatso-
ever, except creditors, and shall be PAID,
with any interest due thereon, 10 the per-
son in whose name the deposit shall have
| been made, and the receipt of such minor
| or female shall he a sufficient release OF
| discharge for such deposit to the bank,
| Whenever any deposit shall be made by
| any person in trust for another ana no
| other or further notice of the existence and
| terms OF legal and valid trust shall have
| been given in writing to such bank, IN the
| event Of the death Of the trustee, the same
| or any part thereof. and any interest due
! thereon, may be paid to the person for
| whom he said deposit was made
Section g. All real estate owned by any
| bank shall be taxed the same as other real
! estate in the town, village or city where
! such real estate Is situated, The capital,
| surplus ana undivided prohts OF a bank
| shall rot be taxed, but the shares Of capt.
| tai stock shall bp taxed 70 the sharehold-
| ers of such stock where the bank is located.
| The value of the shares to be determined
the same proprtionatey as that Of other
property after deducting therefrom the
real estate owned by the bank. The tax OF
any shareholder not residing in the taxing
| district of the bank, If unpaid at the time
| for returning the unpaid tax list TO the
county, may be paid by the bank, and such
payment shall constitute first lien upon
the shares so taxed. Any bank may pay
the taxes upon all of the shares of its
Shareholders. and deduct such tax from its
earnings
Section So. Legal process against any
bank may be served upon any ofhcer OF
said bank In the county where its business
office is located.
Section 80 In the event that the con
| gress OF the United States shall hereafter
provide for the establishment OF circulation
by banks organized under state laws. any
bank organized or doing business under
this act shall have the power to issue cir
culating notes or currency In accOrjar -
with any such act Of congress. and a.
have the power to avail Itself OF Tire pro-
visions Of any such act OF congress. The
provisions Of this section shall not he con.
stIued to permit any savings association,
or private bank or banker, or any loan or
trust company, or any other corporation,
to issue circula ting notes.
Section 40. The provisions Of this act
shall apply to- and eoven all banks organ
lied and now existing within this state,
and the powers privileges. duties and re-
strictluns conferred and imposed upon any
bank, existing and doing business under
the laws of this state, are hereby abridged,
enlarged, or modified as each particular
case may require, to conform to the pro
visions Of this act. Nothing in this act
shall be construed to affect the legality OF
investments heretofore made. or to transac-
tons heretofore had, pursuant TO any pro-
visions Of law IN force when such invest
ments were made or transaction had. All
| banks now existing and doing business
within this state shall. on or before the first
day Of July next following the time when
this act becomes operative, alter or amend
its articles Of organization, If necessary, to
comply with the provisions of this act. and
shall by said time make It's business con-
form In all respects to the requirements OF
this act except where such requirement Is
expressly waived herein.
CHAPTER III
PRIVATE BANKS
Section /. Every person, co-partnership
or corporation doing business in this state,
or that may hereafter be doing business In
this state, which shan advertise as a bank
or as doing a banking business, either by
signs circulars, letter heads, or printed
matter Of any description; or any such per-
son. Co-partnership or corporation. who
shall receive money or funds for deposit or
safe keeping as regular business, or who
shall buy or sell exchange as a regular
business, shall be deemed to be doing
banking business, and shall be known as
private bank. and as such shall he subject
10 the provisions OF this act so far as the
same shall he applicable. And every such
person co-partnership or corporation shall
make reports and be subject 20 examine
ton the Same as banks under this act,
And every such person. co-partnership or
corporation shall maintain the reserve re-