Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1898-09-01

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 compound
all doubtful debts and sell all real and personal
property such terms as the court shall direct.
and il necessary, enforce the individual liza ability
OF stockholders. Such receiver shall pay
all money by him received under the order OF
the court, and shall also make report to the
ba nix commissioner, az often as required by him,
OF his acts and proceedings
SECTIONS. In the event that any two banks
shall be doing business in the same building,
upon the same floor, and in such close proximity
a 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 reasonab BILE
time as may be fixed by the bank commissioner.
SECTION 8. All proceedings by any bank to
enj"in the bank commissioner In the discharge
of his duties shall he had in the county where
said bank is located, or in the supreme court OF
this state. All suits and proceeding arising ont
OF the provisions of this act, in which the state,
or any Of its officers agents, shall he parties,
shat be conducted under the direction and SUI
pervision of the attorney general
SECTION 10. Copies Of all records and papers
ia the office OF the bank commissioner, certified
by him, and authenticated by his seal of office,
shall oe evidence in all cases, equally and OF
like effect as the original
SECTION II. During the month OF Decen.oer
of each year, the bank commissioners shall make
an annual report to the governor OF the state
which report shall be published and shall eI-
bibit the condition Of the various banks of this
state. of the day OF the last report made to
the bank commissioner by such banks and such
report shall contain statement of the condi.
ton OF every bank from which reports have been
received, with abstract of the whole amount
of capital returned by them. the whole amount
OF their liabilities the total amount OF resources,
aud specifying the amount of lawful money held
by banks at the time Of their several returns, and
sha give tabula ted statement of the resources
aud liabilities of each bank, and such other in
formation in his judgment may be required.
Such report shall also contain statement OF
the banks whose business has been closed dur.
iur the year, the amount Of their resources and
liabilities, and the amount paid to tile creditors
thereof: also "A statement Of any banks organ
lied during the year; and shall also give list
Of the stockholders their residence, and the
amount Of stock held by each, and the names 81
the directors aud officers of each bank. He shall
also report the names and compensation of the
clerks employed by him, and the whole amount
Of the expense Of the banking department during
the year preceding.
CHAPTER H.
SECTION l. Any number of adult residents Of
Wisconsin, not less than three may associate to
establish bank under this net, upon the terms
aud conditions and subject TO the Liabilities
pt ~cribed in this act. The aggregate amouug
OF the capital stock uf any bank shall not bo
less than ten thOutaud dollars in villages or
cities having less than two thousand inhabi-
tauts, and shall NOT be less than twenty thou
sand dollars. in villages or cities having more
than two Thousand and lees than six thousand
inhabitants: and shall not bo les, than fifty
thousand dollars IN any village or cttt haN ing
more than six Thousand iuha nitants, accui ding
To- the last official census
SECTION ? The persons So ass0ciutiur shall
make. sign and acknowledge written article OF
incorporation containing;
First \ declaration that they associate Tor
the purpose o. forming a banking corporation
under this act
SECOND The name Of such bank Such name
shall bo III no material respect similar 20 the
rame of any other bank in the same county.
whether such other bank ue organized under
this act or under the laws of the United states.
Third. The village or city and county where
such bank is to be located.
Fourth The amount of cauitai stock. winch
shah bc divided into shares uinut loss than ut,
nor more than one hundred dollars each
Fifth, The period for which srrsH bank ls Ci-
ganized not exceeding fifty Yeas
SECTION s. Such articles q Interpretations
shall be executed in trlplicHte. uua OF Yutrh
shall be recorded in the Office OF The rrqiSler 81
deeds in the county in which the hgnk is located.
one shall be fled In the office OF the bau% rutJ
missioner, and one shali be hled in lile oa4ct II
the secretary OF state
SECTION g. Upon making and filing of tho
articles Of incorporation the bank nall become
a body corporate. and as such shall iaye the
following powers;
First To make All contracts necessary aud
proper to effect It, purpose aad conduct its bust
ueSs.
Second. TO sue aud be sued to appear and
defend in all actions aud proceedings under its
corporate name. 20 the same extent a. nat
ural person.
Third. To have q common seal and alter the
same al pleasure.
Fourth. To elect or appoint all necessary
officers, agent. aud servants. define their duties
aud obligations, fix their compcuSatiou, dis.
miss them, MI vacancies and require bonds.
Fifth To make amend aud repeal bylaws
aud regulations, not inconsistent with law or
its articles ot organization. for its own govern
ment, for the orderly conduct of its affairs aud
the management Of IFS property, for dctermin-
INK the manner of calling and conducting its
meetings tnr Tenure of office ~ its several uiIi-
GERS; and such others as shall he necessary or