Evening journal., 1899-01-27
ROSES MODIFIED BILL
In Reference to Banks and
Other Corporations.
SINGLE TAKERS TO THE PoBI

oL-NLAl OIN Al2A A4<AA , DILL lAENAlND-
ING THE SETTLEMENT OF PER-
soNAL ESTATESAACr CON
CERNING sHERIFFs AND THEIR
BONDS OTHER LEGISLATIVE
MATTERS.
Stan Correspondence Evening Journal
Dover. Jan. Representative Rose
Will tomorrow introduce the following
bill. which is n modified copy Of the
Hushebeck bill:
An Act requiring banks and other
corporations TO publish notice of un-
claimed dividends, deposits and bal
ances in certain cases.
Be it enacted by the Senate and
House of Representatives of the State
Of Delaware in General Assembly met
Section /. That each Of the banks,
savings institutions, trust companies,
or other banking institutions or asso-
cations incorporated by or under any
law Of this state, and legally author
lied to make and declare dividends OF
profits amongst the stockholders there
of, shall in the month of December in
the present year, and annually there
after, cause to be published for two
successive weeks in one public daily
newspaper, printed in the state, hav-
ing the largest circulation, and at least
in one public weekly newspaper hav-
ing the largest circulation, printed in
the county in which such bank. say
ings institution, trust company, OF
other banking institution or associa-
ton shall be located or in which its
principal office or place of business
may be situated, a true and accurate
statement, verified by the oath or af-
hrmahon Of the cashier or treasurer
thereof, Of all dividends or profits de-
clared on its capital stock, which at
the date of such statement shall have
remained unclaimed by the person, CO.
partnership or corporation authorized
TO receive the same for the period OF
three years next preceding; which
said statement shall set forth the
names, and, if known, the residences
and business Of the persons, co-part-
nerships or corporations in whose IA
vor said dividends OF profits, may
have been declared, the amount OF
such dividends or profits, and the
number of shares in the capital stock
upon which the same had accrued
Section ,. That each of the said
banks, savings institutions. savings
fund societies, trust companies, OF
other banking institutions or associa-
tions, incorporated as aforesaid, and
legally authorized to receive deposits
OF money, shall, in the said month oil
December of the present year. and an.
nually thereafter cause to be pub.
/ lished, in like manner and for the
same period, a statement, verified as
| aforesaid of the names, and. il known
the residence and business of all per.
sons, co-partnerships, or corporations
who have made deposits therein, ol
have balances due them, and who
have not within the three years ther
next preceding the date Of said state
ment claimed the amount Of such de
posits or balances, or received any IN
terest thereon, with the dates wheI
such deposits were made. or balance
accrued, the amount thereof, and tn,
amount of interest If any, accruin,
thereon.
Section 8. If any such bank, saw
ings institution, savings fund society
trust company, or otner banking in
stitutiOn or association, Incorporate,
as aforesaid, shall neglect or refuse t
publish the statement hereinbefor
required TO be published, the same
and the cashier or treasurer thereof
in his individual capacity, shall be liza
bic to the party in whose name sue
unclaimed dividend, profit, deposit 0
balance may stand, or to his, her o
/ their legal representatives, for tn
amount thereof, with interest thereon
at the rate of twelve per cent per an
mum from the date of such dividend
profit, deposit or balance until paiC
recoverable by action Of debt as &
other cases. Provided that nothin
, herein contained, shall be so construe
as 20 require the publication OF an
such unclaimed dividends or prof;
amounting TO less than five dollar!
nor such unclaimed deposits or bal
ances, amounting to less than ten do
] lars.
| -NNNARh AAtAA ~ Allt
five years after the first publication {
any particular dividend or profit. ba
ance or deposit. with the interest tina
has accrued thereon as provided b
the first and second sections Of th
act such dividend or profit, balanC
or deposit. with the interest that hi
accrued, il not demanded within ths
$ time by the rightful owner or owner
u thereof, or their legar representative
4 shall escheat to the state, and shall /
!. paid into the treasury thereof, Will
out discount or deduction, for con
[ missions, fees, or expenses Of any d
h scription, by the cashier. treasurer {
other proper officer of said bank, sa'
ings institution. savings fund societ
trust company or other banking inst
: tuition or association. in which SUD
dividend or profit. balance OF depos
= shall have remained without being
/ manded as aforesaid; and the sa
bank, savings institution, savings ful
society, trust company, or any 9th
y banking institution or assOci
tion, as the case may be, shall ther
upon be discharged from any oblig
ton or liability to pay over such div
l. deud or prOff balance or deDOSit