Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1898-11-03


SECTIoE /. There is hereby established in this
state q banking department which shall have
charge OF the execution of the laws relating to
banks and the banking business in this state.
Such department shall be designated as the state
banking department, and shall be under the
management and control OF chief officer, who
shall be called the bank commissioner.
SECTION 2 The bank commissioner she'll be
ap.. ,..,cd Ly the governor by and with the ad
vice and consent of the senate, and shall hold
his office for the term of five years unless sooner
removed by the governor, for good cause, and by
and with the consent of two-thirds OF the mem
bers of the senate. He may appoint deputy,
and revoke such appointment at pleasure SUCH
deputy shall possess all powers. aud perform the
duties attached to the Office of the bank com.
missioner during vacancy in such Oitce, and
during the absence or inability of his principal.
The bank commissioner may also employ, from
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 ind
necessary. The salary of the bank commissioner
shall be three thousand dollars per annum. The
salary of the deputy and such clerks as may be
employed, shall be at such 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 commissioner, deputy and clerks
shall be paid monthly by the state treasurer
upon voucher countersgned hy the secretary
of state Vouchers for the deputy and clerks
salaries must be first approved by the bant com
missioner. All actual and necessary travelling
exp uses OF said bank commissioner, deputy or
c Ell T. cured in the discharge of their duties
shall fully itemized upon proper vouchers and
certified in the order indicated for the salaries.
and presented to the secretary OF state IL al
lowed, the secretary of state shall counterslHn
them. The state treasurer shall upon the pre-
seutatiou of vouchers so allowed and counter
signed pay the amount of such expense. NlthlL
fifteen days from the notice of their appoint
ment, respectively, the bank commits, Toner ana
his deputy shall take aud subscribe tho oath OF
office prescribed by the constitution, and ME
tie same in the Office If the secretary ~ state
The .aid bank commissioner aud his deputy iau
each i've 10 the people Of this state @4' ID
thu l"HI' sum of twenty-five Thousand polf".Nr
with fiu ~ more suretips, q surety CON
to Doe proved by the state treasurer, pl~
t'u flr the faithful DISCHARGE 81 tl.h t'"'''s
OF i' fr rH.pec i've lilices There shall be -~l' |
to smtt bank commissioner suitable rouuS D. ''I
state coiltpl for conducting the business oi sald
department
s1rrluN B. The bank commissioner shall De
wise "a seal FOR the Of his office, which -ha1
continue tn be the seal Of said department
deception Of the seal with an impt eS-iou there
Of shall hc fled in the office OF the secretary Of
state.
SECTION T. II shall be the duty Of tine bank
commissioned and he shall have the power pa
hiu~lf llt' deputy, or by any examiner ne ma.
appoint for that purpose, to examine, az lH'-'
nurD d. acb YEAR the cash, bills, collatera :,
svcyttir books Of account, condition nuh al
tgI" Of each bank savings assoc alton ana PRE-
vatp bank doing business in this state. For thai
purrtl~e he may examine on oath any Of me
oNicrr., owner, agents, clerks, customer or "'
pOSl'urs thereof, touching the affairs Ahd hAri
1e~. ~ such institution. The bank commissions
shall examine, or cause 20 be examined. any
bank when requested by the board Of direc nr,
of such bank Tie bank commissioner shah
also ascertain whether such bank transacts ils
business az the place designated in the artci'~
Of Incorporation, and whether its business -
conducted ia the manner prescribed bl laW.
SECTION 3. No bank commissioner ueput or
examiner shall examine q bank IN which ne ~
Interested as stakeholder officer, employee oi
otherwise. No bank commissioner, deputy W
examiner shall examine bank located N the
same village, city or county with any BANK 30
which he is interested stakeholder, officer
employee or otherwise The hank comm, sSion@r,
deputy. and every clerk in his department. ana
examiner shall be bound hy oath 10 keep secret
sll ~ the FACTS and information obtained n the
course Of Such examinations, except 50 far AZ
the public duty uf such officer requires him 70
report upon. or take special actioa regarding
the affairs OF any bank. II any bank commits
siuuer deputy, examiner or clerk in such depart.
any hank or anything relative Ia the private
disclose any fact obtained IN the conr>e OF ms
examination Of any bank except as herein pro
yided he shall be subject, upou CONVICTION
thereof 20 forfeiture az his office, and TO the
payment of fine Of not less than one hundred
dollars nor more than one thousand dollars or
Imprisonment IN the state prison not less thaE
si1 months nor more than two years or 70 ooth
such fine and imprisonment.
SECTION 8 Whenever Ii shall appear from the
report of any bank, or the bank commissioner
shall have reason 10 be.ievr that ths capital OF
any bank is impair o. euaeed below tns