The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-04-19

said chairman at convenient times, ant
designate such banks within this state
as they deem necessary in which the
public moneys of this lie may be de-
posted, as in this act provided
Sec. 2. Every such state depository
before it shall be entitled to receive any
money belonging to this state on deposit
shall present to said board of deposit a
good and sufficient, personal or corporatt
surety bond, to be approved by said
board of deposit conditioned for the
payment upon demand to the treasurer
of this state, or to his order free OF eX
change at any place in this state desdg
mated by him, of all moneys belonging
to the state deposited with it at any time
while said bond shall be in force with
interest thereon as fixed by law; and Il
such bond be a personal one there shall
be not less than five slTeties, who are
residents and freeholders of the State
of Minnesota, each of whom shall be
worth, above his debts and liabilities, In
unincumbered property situated within
this state, and not exempt from eXecu
ton, not less than five thousand dollars
$4,000, and said sureties shall together
be worth in such unincumbered and I'M
exempt property at least double the
amount of the penalty of said bond. Each
such surety shall by affidavit endorsed
upon said bond show himself to be quail
fled as surety herein provided. Said
bond when so approved shall be deposited
With and safely kept by the state treas
urer.
official name place with any depository
so designated, which has complied with
all the requirements of this act, any pub
lie moneys IN his hands or under his of
fetal control not exceeding the limit
hereinafter provided, and any money Sc
deposited shall be deemed deposit by
the State of Minnesota, and for the col
lection thereof the state shall at all times
be preferred creditor both as TO SAID
depository and its Sureties, and the said
state treasurer shall not be further liable
for the safe keeping of any such money
while SO in said depository, nor until the
same is restored into his custody in the
treasury of said state.
Sec, 4. The amount on deposit at any
time with any state depository shall not
exceed the amount designated by said
board for such depository, nor shall il
exceed one-half the penalty of the bond
filed in accordance with this act; unless
the amount that may be deposited Is
designated by said board, no deposit shall
exceed one-half the paid up capital stock
Of such depository.
Sec. B. Said board of deposit shall
not approve the bond of any such bank
until it shall be fully satisfied that said
bond is good and sufficient; that such
bank is prosperous and financially sound
and that the capital STOCK Claimed by i
IS fully paid up and not impaired. And
the board of deposit may at any time
require any state depository to furnish
a new Or additional bond, and may al
any time revoke their designation and
approval Of any state depository; and
in mediately upon such revocation such
depository shall cease to be a depository
and the treasurer shall Immediately with
draw all public moneys therefro1n-
Sec. 6. Any person who shall give, pay
or render or promise to give, pay or rem
der to the state treasurer or any other
person having the custody or control OF
any Of the public moneys of this state
any credit, service or benefit whatsoever
except as expressly authorized by law,
for the purpose of inducing or in con.
sideration of the deposit, loan or for
bearance of any of the public moneys OF
this state, shall be guilty of the crime OF
bribery, or an attempt to commit the
crime of bribery, and shall be punished
therefor as provided by law. And in
any prosecution under this section mo
witness shall be excused from answering
any question on the ground that his an
swer may tend to criminate himself or
expose him to prosecution for any crime,
but no testimony so given shall in any
manner be used against the person so
teStify1ng in any other criminal prose
cution, except the prosecution for per-
jury committed in giving such testimony.
Sec. Z. The board of deposit is hereby
authorized, when by It deemed neces-
ing amy state money ON deposit, or any
surety on a bond of such state deposit
Dry, to furnish a sworn statement of its
or his financial condition, and any neg
lect on the part of such depository or
surety to furnish such verified statement
within a reasonable time shall conSsti-
tute ground for the revocation of the
designation and approval of such depos-
itory, and if any such depository make
any false statement of its financial con-
dition to said board of deposit in re-
Spouse to any such inquiry or if any
surety on the bond of any depository,
either In his affidavit or justification on
said bond, or in response to any such in
quiry by said board, Or otherwise, mis-
represents or makes any false statement
as to his true financial condition and
ability, the officers or members of su III
depository making such false financial
statement, or any such surety making
such MISUNDERSTANDING or false state.
nent as to his financial condition, shall
each be deemed guilty of tl>a crime OF
fraud in handling the public moneys OF
this state and upon conviction thereof
shall each be punished by imprisonment
in the county Jail of the county where
any, such false statement is made for a
period not exceeding one year.
Sec. s. All acts or parts of acts incon-
sistent with this act are hereby repealed
Sec. 9. This act shall take effect and
be in force from and after its passage.
Approved April 4. 1901.