Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1898-10-13
CHAPTER BOB, LAWS 1897.

pursuance OF the requirements OF Chapter
S0S OF the laws of 1897. which chapter reads
as follows:
CHAPTER BOB, LAWS 1897.
An Act to revise the laws authorizing the
business of banking.
The people of the state of Wisconsin, repre-
scented in senate and assembly. do
enact as follows:
CHAPTER 1.
BANKING DEPARTMENT.
Section /. There is hereby established In
this state a banking department which
shah have charge of the execution of the
laws relating to banks and the banking
business in this state. Such department
shan be designated as the state banking
department. and shall be under the man.
asement 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
the advice and consent Of the senate, and
shall hold his office for the term OF five
years, unless sooner removed by the gov
ernor, for good cause, and by and with the
consent of two thirds of the members of
the senate He may appoint a deputy, and
revoke such appointment at pleasure
Such deputy shall possess all powers, and
perform the duties attached to the office
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
ms deputy. III the ulStnafBe OF the SeNtfHl
duties imposed upon him by this act, as
he shall find necessary The salary of the
bank commissioner shall be three thousand
dollars per annum. The salary of the dep
uty and such clerks as may be employed
shall be at such a rate per annum as the
bank commissioner shall decide, not how
ever to exceed that of the deputies and
clerks of the several state departments.
The salaries of the bank comm ssioner, dep
uty and clerks shall be paid monthly by
the state treasurer, upon voucher coun-
tap nod lNft he nfg tafa h.
ers for the deputy and clerks salaries
must be first approved by the bank COM
missioner. All actual and necessary trav-
cling expenses of said bank commissioner,
deputy or clerks. incurred in the discharge
of their duties. shall be fully item2ed upon
proper vouchers and certified in the order
indicated for the salaries, and presented to
the secretary Of state. II allowed, the sec
rotary of state shall countersIgn them. The
state treasurer shall, upon the presenta-
ton of vouchers so allowed and counter
signed, 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 10y
the constitution and file the same In the Of
flee of the secretary OF state The said
bank commissioner and his deputy snail
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 tho
state capitol for conducting the business or
Section g. The bank commissioner shall
devise a seal for the use of his office, whlch
shall continue to be the seal of said de-
partment description of the seal, with
an impression thereof shall be filed in the
office OF the secretary of state.
Section 4. 1t shall be the duty OF the
bank commissioner and he shall have the
power by himself, his deputy. or by any
examiner he may appoint for that purpose,
to examine, at least once in each year. the
cash, bills. colaterals, securities, books OF
account, condition and affairs of each
bank, savings association and private bank
doing business In this state. For that
purpose he may examine on oath any OF
the officers, owners, agents, clerks, Gus
toners or depositors thereof touching the
affairs and business of such Institution
The bank commissioner shall examine or
cause to be examined any bank when re-
qucsted by the board OF directors of SUCH
bank The bank commissioner shall also
ascertain whether such bank transacts It's
business at the place designated In the art
lcles OF Incorporation and whether its hust-
ness is conducted in the manner prescribed
by law
Section s. No bank commissioner, deputy
or examiner shall examine bank In which
he is interested as stakeholder officer, eni-
ployCe or otherwise. No bank COMMISSION
er. denuty or examiner shall examine
bank located In the same village city or
county with any bank In which he Is IN
tereSted as stakeholder oti1cer employee
or otherwise Inc gaIk toIlli,,sSo,i,i
ana examiner. shall be bound by oath TO
keep secret all of the facts and Information
obtained In the course OF such eNafnlha-
tions except so far as the pubic duty OF
such officer requires him 20 report upon, or
take special action regarding the a1airS OF
any bank. III any bank commissioner, uep-
uty, examiner or clerk IN such department.
shall disclose the name OF any debtor OF
any bank or anything relative TO me prl-
waite accounts or transactions OF sUeh oaI.N
or shall disclose any fact obtained IN The
course of his examination of any bank. eN-
cent as herein provided. ne sh-tll ps SUD-
ject. upon conviction thereof, 10 forteltnrs
of his Office and 60 the payment OF hne
of not less than one hundred dou5IS n2'
more than one thousand dollars, or imprls-
oument in the state prison NOT less lnt y,
six months nor more than Two years OF "
Section Whenever 10 shall appear from
the report Of any bank or the pans com.
missioner shall have reason 10 oelleEe, tlldt
the capital of any bank Is impaired or re-
duee1 below the amount required by law,
il shall be the duty Of the bank coinniS-
sioner and ne shall have the power e eN-
aroira sueh bank % ascertain the taCts,
and in case ne shall find such Impairment
or reduction Of capital 70 REQUIRE sum
bank 10 make good the deucleney g w
prarinE. II any bank shall refuse or ttlI
f5r niSety DAYS after written notice %
make good the deficiency So appeafl.E yy
FOUND TO exist Il shall be the DUTY OF 'hs
bank commissioner. Win tle W. 49, 49,, ~ ~
the attorney general 20 institute tloceeo.
ms IN. the appointment Of a reCel'eF CT
.ai5 tapk 10 wind mp It's business. In any
case where the capital Of bank snaI
have become impaired or reduced neioN
49, ,rtotrt reoufred hy law, the board OF
SiT.S,ors OF such bank shall have the pow
or "a make a pro rata assessment upon AZ
Of he stock Of said bank e make .S se .Sl
such deficiency. and may proNlQe taa' ttis
,a,,1, ~ such deficiency shall be due ana
aaayohia At n time to be fixed BY such
board Of directors, which time shan l, qe nee
.,',a,,t. and N any stakeholder SHAH talI
or T'I neglect to pay the amount Of the a.
ss.snsnt against his stock, Tor Yen oaS
After ths same shall have os'oHie