Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1898-10-06

.,,,s proceedings for the ieeo,e., Of such
forfeiture ,,,,,,a,.au ar, oa,oa
81 shall refuse 10 submit the books, pa
ua and concerns of such bank TO the a.
I.Stion of the bank commissioner. his
ssf.utv or examiner appointed hereunder.
oeprSsfise TO be examined on oath touching
~. concerns Of the bank, the bank COM
,issiouer may, with the approval of the
s,,torney- general, institute proceedings for
re appointment OF a receiver of such bank
| 10 wind up its business
| section 49, Every officer or employee of
any hank required by law 10 take any oath
| or affirmation, who shall wilfuly swear or
| sfiTm falsely upon any material matter,
Sball be deemed guilty OF perjury, and
gpon conviction thereof, shall be punished
~ provided by the laws of this state for
fbe punishment of perjury.
section %. Any bank organized under
mis- act may reorganize under the laws of
Inc United States as national bank. As
soon as such bank shall have obtained the
Certificate from the comptroller of the cur
reucy. autho' ling 1t to commence business
under the United States banking law, such
raorganize1 bank shall take and hold all
OF the assets, real and personal. of such
hank organized under this act. subject TO
ali liabilities existing against said bank or
eanzed under this act at the time of such
raorgani2a ton.
Section 2l Any national bank author
lied to dissolve, and which shall have ia
ken the necessary steps 10 effect dissolu-
lion may reorgan2e under this act upon
the consent In writing OF the owners OF
two-thirds of TIE capital stock of such
bank, and with the approval of the bank
make execute and acknowledge articles of
organization as required by this act, and
shall set forth the said written consent OF
slch stockholders. Upon the filing of said
articles as provided by this act and upon
the approvalof the bank commissioner. such
bank shall be deemed to be reorSanzed
under this act, and thereupon ali assets,
real and personal. of such dissolved ma
tonal bank, shall be vested in and be and
become the property OF such reorganized
bank. subject 10 all liabilities Of such ma
tonal bank not liqudated before such re-
organization
Section o. bank which is in good faith
winding up its business, for the purpose or
consolidating with some other bank. may
transfer its resources and liabilities to the
bank with which 1t is In process OF con-
ISOLATION; but no consolidation shall be
made without the consent OF the bank COM
missioner and not then 10 defeat or de-
fraud any q the creditors in the collection
OF their debts against said banks or either
of them.
Section %. AIRY bank organized or doing
business under tbs provisions of this act,
may go into liquidation by vote of its
stockholders owning two-thirds of the capt.
tai stock. Whenever vote is taken to go
into liquidation, it shall be the duty OF the
board of directors to cause notice OF TINS
fact to be certified under the seal of the
bank by it's president and cashier, to the
bank commissioner, and publication there
Of notifying the creditors TO present their
claims against the bank for payment, shall
be made once in each week for eight sue
Cessive weeks I'm the official state paper,
and also in a newspaper published in the
village city or county IN which the pank
is located, and if no newspaper IS there
published then in the newspaper published
at the nearest county seat
Section a. Every bank shall keep on
hand at all times, at least fifteen per cent
Of its total deposits, at least siX-ffteenths
OF which shall be in lawful money, and the
balance of such percentage may he on de-
poslt in banks approved by the bank com
missioner as reserve banks; except in the
case of banks which shall be approved by
the bank commissioner as reserve banks,
which banks shall at all times keep on
hand at least twenty-five per cent OF their
total deposits, at least two-hfths of when
shall be in lawful money, and the balance
may be on deposit in banks approved by
the bank commissioner as reserve banks.
Section %. Whenever the reserve OF any
bank shall fail below the amount required
herein to be kept, such bank shall not m
crease its loans or discounts otherwise than
by discounting or purchasing bllls or eX-
change, payable at sight or on demand,
and the bank commissioner shall notify
any bank whose reserve may be below the
amount herein required, to make good such
reserve and in case the bank fHlls Tor thlrty
days thereafter to make good such re-
serve the bank commissioner may, Win
the approval of the attorney general, IN
stitute proceedings for the appointing oil
receiver and to wind up the business oil
the bank.
person. co-partnership or corporation. TO
any, h9nlt fnr money borrowed including
in tho iiahiities Of the co-partnership the
Isbiiitiee 81 The several members thereof,
went snerial partners, shall at no time
exceed df5een per cent of the amount of
canitai ana surnlus of such bank: but the
disrountinp of bills of exchange drawn In
good faith against actually existing values,
ana the 3iscounting of commercial or bust
ness paper actually owned by the person
uep,iiating The same shall not be consid-
ersd az money borrowed. provided, that by
tugo-tbirds vote of the directors the liza
buittee If any person co-partnership or
cornoration NAV he increased to a total
sum moi avceedinp TWENTY-FIVE per cent of
mo canital and surplus of such bank.
80, n No hank shall take for securi-
~ for a1v loan or discount a lien upon
s1l, 1art ~ its ranitaI stock No bank
shin %a me holder Of or purchaser of any
Tor'jon If its ranifaI stock. unless such
IL,,rSasa sbau he necessary 10 prevent loss
80, a.. ,roSinUslv contracted i'm good
gp e 4eDt - co nmrShased shall in no
ta't''i toiH t,, ~ hank for a longer time
- w ".tH a., ~ IL no etock can he sold
S ''"" 20 r,Ioiiut of tho claim of the bank
sg we az, I'm, and If must be sold for
t7''i'st '.ic ia ~ ,imahie WITHIN one wear.
lre "V e. n I've Se cannaia5 ana shall then
y. !, ailall Oc fitio,, a. Inc capitai stock.
atdount " le"g0 s9ch radmction shall re-