Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1898-10-13
CHAPTER 3O3, LAWS 1897.

BOB. Of the laws Of 1897, which chapter reads
as follows:
CHAPTER 3O3, LAWS 1897.
An Act to revise the laws authorizing TIE
business of banking.
Inc people of the state of Wisconsin, repre-
Sented in senate and assembly. do
enact as follows:
CHAPTER I.
BANKING DEPARTMENT.
Section 1. There is hereby established in
TINS state a banking department., which
snail nave charge of the execution Of the
laws relating to banks and the BANKING
business In this state. Such department
snau be designated as the state banking
department. and shall be under the man
agement and control Of a chief officer, who
shall be called the bank commissioned.
Section z. The bank commissioner shall
pc 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 al powers, and
perform the duties attached to the Office
OF the bank commissioner during a va
cancy in such office, and during the alb
sence or inability Of his principal The
time to time, such clerks to assist him and
his deputy, in the discharge of the several
duties imposed upon him by this act, as
he shall find necessary. The salary Of tho
bank commissioner shall be three thousand
dollars per annunl. The salary Of the dep
uty and such clerks as may be employed,
~hall be at such g. rate per annuln as the
b. nmissioner shall decide, not how
ever, 10 exceed that of the deputies and
clerks of the several state departments.
The salaries Of the bank commissioner, dep
uty and clerks shall be paid monthly by
the state treasurer, upon a voucher coun-
tersigned by the secretary Of state. Vouch-
ers for the deputy and clerks salaries
missioner. All actual and necessary traV-
cling expenses CT said bank commissioner,
deputy or clerks, incurred in the discharge
of their duties, shall be fully iten1ized upon
proper vouchers and certified in the order
Indicated for the salaries and presented to
the secretary of state If allowed, the sec
rotary Of state shall counters1gn them. The
state treasurer shall, upon the presenta-
ton OF vouchers so allowed and counter
tgned, 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 by
the constitution, and file the same in the of
bank commissioner and his deputy shall
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
bank commissioner suitable rooms. in the
state capitol for conducting the business Of
said department.
Section 8. The bank commissioner shall
devise a seal for the use of his office, which
shall continue to be the seal OF said de-
partment. A 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
oiJ1t
to examine, at least once in each year, the
cash, bills. cola terals, 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 depositor5 thereof, touching the
affairs and business Of such institution
The bank commissioner shall examine, or
cause to be examined, any bank when re-
quested by the board of directors Of such
ascertain whether such bank transacts It's
business at the place desi gnated in the art
icles of incorporation, and :" ether It's ousl
ness is conducted in the manner prescribed
by law.
or examiner shall examine a bank IN Wnlcn
he is interested as stakeholder, officer, en-
ployee or otherwise. No bank commission
er, deputy or examiner shall examine
bank located in the same village, city OF
county with any bank in which he IS IN
terested as stockholder, officer, employee
oT otherwise. The bank commissioner
deputy. and every clerk in his department.
keen secret ali of the facts and information
obtained in the course OF such EXAMINE aa,t,, a.
lions, except so far as the pubic duty Oh
such officer requires nun rd 10 fe affairs Of
any bank If any bank commissioner. oep-
Ilty. examiner or clerk in such department.
shall disclose the name Ga to the pr
vate accounts or transactions or sucn panh,
or shall disclose any fact obtained IN tne
course of his examination OF any panK eH
let ,1non conviction thereof. to forfeiture
of his office, and to the payment Or nns
If not less than one hundred dollars nor
more than one thousand 1,s a0ia nat g less han
civ months rnr more than two years. or TO
be- s,,c77 Hrf am sr-sp-dson'hersf
section. 6. Whenever 1t snah aypG , a com.
missioner shall have reason 60 OeneYe, tnaa
the capital Of any bank is Impaired or re-
duced below the amount requarSn ny ra as.
aioner' and he shall have the power. to ex-
anime such bank to ascertain the nac.s;
and in case he shall find Sucn ampalrlnen, s
PRE- or red ~ make good the deficiency SO 'ap;
,oaarin@ If any bank shall refuse or ran
for ninety days after written n0tice "
make good the de fam y Fl the DUTY Of the
i iurTu Commissioner. with the approval OF
f ngs for the appontnent Of receiver " an 81
ssd BANK e xxi aa aR is o. business IN saS
case case hecome impaired or reduced below W
t nass amount required by law the t board r o.
q such en- bank aas sa 5s t eoR
er q nia stoc,c af said bank to make good
Of ne s se4cm and may provide that the
sHsa s liz Il e h asd be que s aas
payable at diract t,ne which time shall be moi
Or neglect to pay tn the s amenh for 81 ten days
segSment asdill9t. Il ....-a hacnme SO due