Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1898-08-25

stock. No dividend shall be decis... n
fore the capital stock is fully pai5 n b II
Section 49, Every president ~
cashier, officer, teller, clerk or aqen tt5ecta u
bank or savings association Aho emu
abstracts or Wilfully misappAeS, 8nv NV q RI
moneys, funds. credits, or propertys ~ " \ b
bank or savings association, WhetSo,U u
ed BY it or held in trust, or who r,G9 ON u
athority Of the directors, issues or %Nl9g
forth any certificate Of deposit, drsT,, poe
order az bill of exchange, makes ans a
ceptanca, assigns any note, bond
bill of exchange, mortgage, iudgn544
decree; or who makes any false @s D
any book, report or statement Of E2R
with intent in either case 10 injuESE B.
fraud the bank or savings ass0cae% M
any person or corporation, or to 1s
any officer of the bank or savings 8Ssst
ton, or any agent appointed to eyr:
the affairs of such bank or savings aSer rs
ton; or any person VINO Wlth like hts
aids or abetS any officer, clerk Or agars M
the violation of this section, upon car
ton thereof, shall be imprisoned h 4 @
state prison not to exceed twenty war; @
Section a. If the board Of dirgci9~ En-
q quorum thereof, of any bank shah E~os
fngly violate, or knowingly permit any
the officers, agents or employees Of X
bank, to violate any Of the provisions
this act; and after warning from Il rs
bank commissioner shall TAI. 10 make I'm
any loss or damage resulting Iron wa e
acts, or continue such conduct it sss
constitute a ground for the forfeiture e
the charter of such bank. lt shall be hi
duty of the bank commission, VITA IA r
consent Of the attorney-Sgnelal, 10 I'm
tute proceedings to enforce such fOrle,ns
and to secure q dissolution and q wini3
I'D of the affairs Of such bans
Section IS. The stockholders Of even
bank shall be individually liable, eo63f
-, 4rNN ..
benefit of the depositOr5 in said bank NJ
the amount Of their stock st the par vain
thereof, in addition to the amount invests
in said stock. But persons holding s@
as executors, administrators, guardians
trustees, and persons holding stock as cd
lateral security, shall not be personally la
BILE as stockholders, bat the assets III
funds in their hands constituting the trus
shall be liable to the same extent as n
fiesta tor, intestate, ward or person intT
ested in such trust fund would be # III
ing, or competent to act. and the rersr
stakeholder and liable under this section
Such liability shall continue for sixty darI
after any transfer OF stock.
Section IS. Whenever any deposit shs
be made in any bank by and In the nam
OF any minor or female. being OF thereaftg
becoming q married woman, the same Sba
be held for the exclusive right and benef.
of such minor or female, and free from
the control or lien Of all persons Whatsp
ever, except creditors, and shall be paid
with any interest due thereon, to the Der.
son in whose name the deposit shall h8yt
been made, and the receipt OF such minM
or female shall be q sufficient release o.
discharge for such deposit TO the bank
Whenever any deposit shah DC made By
any person in trust for another, and nj
other or further notice Of the existence anj
terms of a legal and valid trust SHAH have
~
event Of the death Of the trustee, the SAINT
or any part thereof, and any interest du
thereon, may be paid to the person fo
whom the said deposit was made.
Section 81 All real estate owned by an!
heAk Shall Be ra@Sd bhe same "a cth7r rsa
such zeal estate is situated. The cdRital
surplus and undivided profits Of q banl
shall not be taxed, but the shares Of capi
tai stock shall be taxed to the s1arehold
ers of such stock where the bank is located
The value of the shares to be determine
property, after deducting therefrom tn
real estate owned by the bank. The tax 0
any shareholder not residing in the taXin
district of the bank, if unpaid at the tim
for returning the unpaid tax list to tn
county, may be paid by the bank, and sue
payment shall constitute a first lien upo
The shares SO taxed. Any bank may pa
he taxes upon all of the shares Of it
and deduct such tax from 1t
earnings.
Section 3S. Legal process against an
bank may be served upon any officer
said bank in the county where its bushes
,ffice is located.
Section 49, In the event that tine con
5ress Of the United Sta ties shall hereaTte
provide for the establishment Of circula tS
" banks orga nized under state laws ~
1ank organized Or doing business unde
his act, shall have the power to issue Gil
,ulating notes or currency, in aCcordanc
with any such act Of congress, and Sla
rave the power to avail itself Of the prl
fisi0ns Of any such act Of congress In
provisions CT this section shall not be con
trued to permit any savings associauoi
n private bank or banker, or any loan
rust company, or any other CorpcratioL
0 issue circulating notes.
Section 40 The provisions Of this q.
hall apply to, and S0Ven, all banks ofgai
nd the powers, privileges. duties and Z
tricions conferred and imposed upon an
1ank, existing and doing business undo
ne laws Of this state, are hereby abriaSe
ase may require, to conform TO the p1
,isiOns of this act. Nothing in this q
hall be construed TO affect the legality
Investments heretofore made. or to transa
ions heretofore had, pursuant to any pI
,isions of law In force when such inVes
nents were made or transaction had. I
,anks now existing and doing buSine
within tlais state shall, on or before the fir
lay of July next following the time WHIT
his act becomes operative, alter or amer
is articles of organization, II necessary,
omplv with the provisions of this act, an
hall by said time make its business col
orn IN all respects to the Requirements
his ect, except where such requirement
expressly waived herein.
CHAPTER IrT,