Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1898-09-22

10 be given by posting copie. of notice of
sale In five public places in the village or
city where such bank Is located. Upon
such sale the purchaser shall forthwith
pay the amount of the assessment against
said stock The amount received from the
sale of said stock less the cost and ex-
perse OF such sale, shall be paid 10 the
original owner Of such stock.
Section 7. on becoming satisfied that
any bank has refused TO pay Its depositors.
IN accordance with the terms on which
such deposits were received, or that any
bank has become nsoVent, or that Its cap
ltal has become impaired, or that any bank
has violated any OF the provisions OF THIS
law, the bank commissioner may 1ortn-
with take possession of the books, records
and assets Of every description of such
bank and hold the same. and such books.
records and assets shall not be subject 10
any levies or attachments, until court OF
competent jurisdiction can be applied to
for the appointment OF receiver for such
bank, who under the direction OF the court.
shall take possession of the books, records
and assets of every description, collect all
debts dues and claims, and sell or com
pound all doubtful debts and sell
all real and personal property on such
terms as the court shall direct, and II nee
essary, enforce the individual liability OF
stockholders Such receiver shall pay over
all money ~ him received under the order
OF the court, and shall also make report 10
the bank commissioner, as often as requn-
ed by him. of his acts and proceedings.
Section :. In the event that any two
building, upon the same floor. and in such
close proximity as TO interfere with the
proper examination of either bank the
bank commissioner may require either OF
said banks to remove its banking office to
some other location within such reasona-
bic time as may be fixed by the bank com
missioner
Section O. All proceedings by any bank
to enjoin the bank commissioner in the dis
charge Of his duties, shall be had In the
county where said bank rs located, or In
| tl4.. lE Htg 70.
and proceedings arising out of the pro
visions of this act, in which the state. or
any OF It's officers or agents. shall be par
ties, shall be conducted under the direc-
ton and supervision of the auorney-gen-
erdl.
Section 10. Copies of all records and pa
pers IN the office Of the bank commissioner
certified by him, and authenticated by MS
seal Of office, shall be evidence in all cases.
equally and of like effect as the original
Section II. During the month OF Decem-
Der of each year, the oank commissioner
| shall make an annual report to the gov
| etnor of the state, which report shall be
published and shall exhibit the condition
OF the various banks Of this state, as OF the
| day OF the last report made TO the BANK
| commissioner by such banks, and such re-
| port shall contain statement Of the con
| ditiCn of every bank from which reports
| have been received, with an abstract oil
| the whole amount of capital returned by
| them, the whole amount of their Liabilities
| the total amount Of resources. ana specl-
| lying the amount OF lawful money Helu ny
| banks at the time Of their several returns
| and shall give a tabuldted statement oil me
| resources and Liabilities OF each bank, ana
| such other information as in ms judgment
| may be required such report shall also
| contain a statement OF the banks whose
| business has been closed during the year,
| the amount of their resources and liabiII-
! ties, ana the amount paid 70 the creators
| thereof, also a statement OF any banks or
gained during the year, ana snail also
! give a list Of the stockholders, their resi-
! dguce and the amount of stock held by
each and the names Of the directors ana
! officers OF each bank. lie SHAH also report
| the names and compensation OF the clerks
| employed 10y him, and tne whole amount
of the expense of the banking department
! during the year preceding.
CHAPTER II.
BANKS.
| Section /. Any number of adult residents
| OF " gsConsn, not less than three. may as
| SOCiatg To establish a bank under this act,
| upon the terms and cOnullions and subject
! to the liabilities prescribed IN this act. The
| aggregate amount OF the capital stock OF
| any bank shall not be less tnan ten thou
| sand dollars. in villages or cities having
| less than two thousand inhabitants, and
| shall not be less than twenty thousand dol
| lars Ia villages or cities having more than
| two thousand and less than SIX thousand
| Inhabitants, ana SHAH not be less than my
| thousand dollars In any village or city haV-
Ing more than SIX thousand inhabitants,
according to the last Official census.
| Section 2 The persons so associating
shall make sign ana acknowledge written
| articles of incorporation containing
| First. A declaration that they associate
| for the purpose OF forming "a banking cor
| porauOu uuuCr TINS act.
| Second. Inc name OF such bank such
name snail ne ia no material respect SINH
lar TO the name OF any ptuef pauh IN Nne
| same county, whether such other bank be
| organized under this act or unGer the laws
| OF the United states.
his, k.it M IFf ~ md n
where such bank is to be located.
| Fourth. The amount OF capital stock,
| which shall be- diyidcu into sndres OF not
| less than fifty nor more than one hundred
EfJh me period for which such Bank
is organized, not exceeding nifty years.
Section j. Such articles Of incorporation
| shan he executed In tupucate, one OF which
shall be recorded i'm the ONCE of the regis
| ter of deeds IN the county in which The
| bank Is located one shall be filed in the
office of the bank commissioner, and one
shall nu filed In the uttlcc ul the secretary
of state.
SECTION 4 Upon making and fling Of the
| articles of incorporation the bank shall
! become body corporate, ana as such snail
have the following powers.
| FIRST To make al contracts necessary
and proper TO effect It's purpose and con-
| duct It's business
Second 10 sue ana be sued. to appear
and defend IN an actions ANA proceedings
under It's corporate name, 10 the same eN-
tent AS natural person.
Third. To have a common seal and alter
the same at pleasure.
Fourth TO eject or appoint all necessary
| officers, agents and servants, define their
duties and obligations nix their COmpeusa-
tou dismiss tnem IN vacancies and re-
Qulrt bonds,
Fttth. 40 make, amend and repeal by
laws and regulations. not inconsistent with
law or les Articles of organization. for its
own government for the orderly conduct
OF It's affairs aud the management of It's
property, Tor determining the manner OF
calling ana conducting its meetings, the
| tenure OF Office OF its sew eIal officers, and
such others as shall be necessary or con-
Ncuieut TOR the accomplishment OF its pur-
pose
sixth To exercise by its directors duly
| authorized officers, or agents, all such
powers AS shalt Zoe necessary to carry on
the business ot banking. by buying. DIS
counting aaJ negotiating prumissQUy notes,
bonds drafts, bills of exchange foreign
ana domestic ana other evidences OF debt,
Boy receiving commercial and savings de-
Nr .I ID, %