Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1898-09-15
CHAPTER SO3, LAWS 1897.

as follows:
CHAPTER SO3, LAWS 1897.
An Act to revise the laws authorizing the
business Of banking.
The people Of the state of Wisconsin, repre-
Sented in senate and assembly. do
enact as follows:
CHAPTER T.
BANKING DEPARTMENT.
Section I. There Is hereby established in
this state banking department, which
shall have charge, of the execution OF the
laws relating to banks and the banking
business in this state. Such department
snail be designated as the state banking
department. and shall be under the man
agement and control Of a chief officer, who
shall be called the bank commissioner.
Section g. The bank commissioner shall
be appointed by the governor, by and with
shall hold his office for the term of five
years, unless sooner removed by the gov
ernor, for good cause, and by and With thes
consent of two-thirds of the members Of
the senate. He may appoint deputy, and
revoke such appointment at pleasure.
Such deputy shall possess all powers, and
of the bank commissioner during va
cancy in such Office, and during the alb
sence Or inability of his principal. The
bank commissioner may also employ, from
time to time, such clerks to assist him and
his deputy, in the discharge of the several
duties imposed upon him by this act, as
he shall find necessary; !, The salary Of the
dollars per annun. The salary Of the dep
uty and such clerks as may be employed,
sh, at such a rate per annum as the
ever, to exceed that of the deputies and
clerks Of the several state departments.
The salaries of the bank comm1ssioner dep
uty and clerks shall be paid monthly by
the state treasurer, upon voucher coun-
tersigned by the secretary OF state. Vouch-
ers for the deputy and clerks salaries
n
missioner. All actual and necessary traV-
cling expenses of said bank commissioner,
deputy or clerks, inquired IN, in the discharge
proper vouchers and certified in the order
indicated for the salaries, and presented to
the secretary of state. If allowed, the sec
state treasurer shall, upon the presenta-
ton of vouchers so allowed and counter
eigned, pay the amount Of such expense.
Within fifteen days from the notice Of their
appointment, respectively, the bank com.
missioner and his deputy shall take and
subscribe the oath Of office, prescribed by
fee Of the secretary Of state The said
bank commissioner and his deputy shall
each give to the people of this state BOND
in the penal sum OF twenty-five thousand
dollars, with two or more sureties, or
surety company, to be approved by the
state treasurer, conditioned for the faith
full discharge Of the duties of their respect,
i've Offices There shall be assigned to said
bank commissioner suitable rooms In the
state capitol for conducting the business OF
said department.
devise seal for the use Of his office, which
shall continue to be the seal OF said De
partment A description Of the seal, with
an impression thereof, shall be filed IN the
office Of the secretary Of state.
Section l. It shall be the duty Of the
bank commissioner. and he shall have the
ee1amineT he may appoint for that purpose,
to examine. at least once in each year, the
cash, bills. collaterals, securities, books OF
account. condition and affairs s,ve OF e each
doing business in this state. For that
purpose ne may examine on oatn any OF
the officers. owners, agents . cierSSis Gus US
affairs and business OF such institution
The bank commissioner shall examine, OF
cause to be examined. any bank when re-
ouest ed by the board Of directors OF such
bank. The bank commissioner shall also
ascertain whether such bank tr2nsacts Its
business at the place designated In the art
icles Of Incorporation. and whether It's Dusl
nass ia conducted in the manner prescribed
by law. ,, ,,t,,
or examiner shall examine 9 bank In when
he Is Interested as stockholder, officer, en-
ployee or otherwise. No bank commission
er, deputy or examiner shall examine q
bank located in the same village, city o, or
county with any bank In which he Is In
terested as stakeholder, officer, employee
or otherwise The bank commissioner
deputy, and every clerk In his department,
and examiner, shall be bound by oath to to
keen secret ali Of the facts and information
obtained in the course OF such eXa1nlnaee
lions, except so far as the public duty OF
such officer requires him to report upon, or
take special action regarding the affa1rs OF
any bank If any bank commissioner, oep-
uty. examiner or clerk in such department,
shall disclose the name Of any % oe tba r o.
yate accounts or transactions or such panh,
or shall disclose any fact obtained IN the
course Of his examination or any pd1lA' s, vh-
iect, upon conviction thereof, to forfeiture
of his office, and to the payment OF lln a
of not less than one hundred dollars nor
more than one thousand dollars, or lmpTls-
onrnent IN the state nrison not less ma -
-rtnr,t77q 4? re 'N+ii F'%o Gl-4S' ~ -
/ ,:A sui. fine itllu i1.lprisonment
Section 6. Whenever 1t snail appear to-
+ha renort Of any bank, or the bank com
missioner shall have reason to believe, that
the capital of any bank is impaired or re-
duced below the amount req bn ny raM
sioner, and he shall have the power 70 e.
anime such bank to ascertain the iacts,
and in case he shall find such lfnI'alrlli EN-
or reduction of capital, TO require such
hank to make good the deficiency SO a2 az,
nearing. If any bank shall! refuse or III,
For ninety days after written notlce u
make good the deficiency so appearlnS o.
fn,nd fo exist. it shall. be the duty OF the
hank commissioner, with the. approval OF
tTe attorney general, to institute proceed
fngs for the appointment OF rece1 T,' 81 %
said bank to wind up its business ban< IN s ha
h bays become impaired or reduced below
t hass amount required by law the board o.
directors Of such bank shall have the eo p0M a
ecn thd de stGen and a may provide that the
Of such deficiency Ss sh aad be p due such
paya4pleef a. tractors which time shall be not
heard dh of ten days after o ad
l gessment and if any stakeholder shall AL fan
neglect t. pay the y smeun for Of ten the as
sessme ehs a Sine shall have become due