Evening journal., 1899-01-23
HUSHEBECK'S BILL
Requires Banks to Give Notice
of Unclaimed Dividends.
NEW TAX COLLECTION BILL


BILLS GIVEN FINAL. READING IN
THE HOUSE NO FALLING OUT
OVER HOUSE ENROLLING
CLERK GRADED SCHOOLS FOR
CHILDREN.
Stan Correspondence Evening Journal.
Dover. Jan. 29.-Representative
Hushebeck has in hand for introduc
tion his bill requiring banks ann
other corporations to give notice OF
unclaimed dividends. deposits and bar
snces IN certain cases. Its provisions
are as follows:
AN ACT.
Requiring banks and other corpora
tions to give notice OF unclaimed
dividends, deposits and balances in GER
tain cases.
Be il enacted by the Senate ana
House CT Representatives, of the State
Of Delaware In General Assembly met.
Section i. That each OF the banks,
savings institutions, loan COM
panies and Insurance companies
and each and every other OF the com
panies, institutions or associations in.
corporated by or under any law OF
this state. and legally authorized to
declare and make dividends of profits
amongst the slockh c.ders thereof,
shall in the month OF December in the
present yeaI. and annually thereafter
cause TO be published, for two euc
eesBive weeks, in one or more public
newspapers. having the largest circu-
ia0on, printed in the city or county IN
which such bank, savings institution
loan company insurance company OF
other company institution OF associ-
tipn may be located. or in which tie
principal onLce or place Of busine nes6
may be situated. a true and accurate
statement, verified by the oath OF at
hrmatiOn of the cashier or treasurer
thereof, Of all dividends or profits de.
clat1 on its capital stock. which, a.
the date Of such settlement. shal
have remained unclaimed by the per.
son, co-partneship or corporations au
uhorized TO receive the same. for tn,
period Of three years Vhen next pre-
csding; which said statement shall Sc
forth the names and, if known, tn
residence and business Of the persons
co-partnerEhips or corporations ID
whose favor said dividends or profit
may have been declared, the amoun
OF such dividends or profits. and tn
number Of shares in the capital stocl
upon which the same had accrued.
Section 2. That each OF the sail
banks, savings institutions and loal
companies and each and every say
lngs fund society. insurance OF trus
company, or other company, institu
ton or association. incorporated a
aforesaid. and legally authorized :
receive deposits Of money. shall. In tn
said month Of December OF the pres
ent year, and annually thereafter
auEe to be published, in like man
aer, ana for the same period, a state
ment. verified as aforesaid, Of th
names, and, il known, tie residenc
and business Of all persons, co-par
deships or corporations who hav
made deposits therein, or have ba
ances due them, and who have no
within the three years then next pr,
oeding the date OF said statemen
either Increased or diminished II
AMOUNT OF such deposits or balance
Or received any interest thereon, wit
the dates when such deposits wei
made. or balances accrued, the amOul
ihereof, and the amount Of interest,
any. accruing thereon.
Section g. N any such bank, sai
ings institution, loan company, insu
ance company or other banking inst
tuition or association. incorporated
aforesaid. shall neg-ect or refuse
publish the statement herein befO
required to be published. the salm
and the cashier OF treasurer thereC
in his individual capacity. shall
liable to the party in whose nan
such unclaimed dividends. pront, d
posit or balance may sand, or TO III
her or their legal representatives, {
the amount thereof with inters
, thereon. at the rate OF II per cent. p
annum from the date of such div
!. dend, profit. deposit or balance un
paid, recoverable by action Of debt
: in other cases: Provided, that notht
herein contained. shall be 50 co
N strued as to require the publication
|, any such unclaimed dividends
/, profits amounting 20 less than
n nor such unclaimed deposits or b
/. ances. amounting to less than ten d
lars.
Section 4. That. at the expiration
three years after the first publicati
, IOf anv hnarfirt,,ar dfridenGa