The Montgomery advertiser., 1903-10-03
THE LUsK BILL.

THE LUsK BILL.
 Whien Emasculates the Senate Bank ing Bill.
 Be 1t enacted by the Legislature of Alabama. That there Is hereby created the office of Bank Examiner of the State or Alabama, whose term of office shall be Tor four years. appointed by and subject to removal at the pleasure of the Cover per annum and actual necessary travelling expenses to be audited and approved by the Auditor of the State and paid by warrant on the Treasury by tho Auditor Section 2. The Bank Examiner. before entering on the duties of his office. shall take and subscribe the oath of office pre- scribed by the Constitution. which shall De hled in the office of the Secretary of State. and he shall give bond in the sum or $l5000 which bond shall be approved oy the Governor. payable conditioned and ssa ths as Sy the ficial bonds. Such bond shall be filed and recorded in the office of the Secretary of
 Sec. 5. The State Bank Examiner, du- ring his term of office, shall not be an officer. agent or empioye Of any bank in the State, and he shall not be a share holder or the owner of any pecuniary in- terest in any bank, private. State or na- tional.He shall not be allowed to receive any commission. fee, or reward to him self from any officer. agent or employe of any bank doing business in this State, and the receiving of any such benefit by him shall be felony.
 Sec. 4. The Bank Examiner shall visit every bank, private or incorporated char other State anl doing banking business within the state of Alabama. twice in times. nor shall he permit any one to 0f yh0A ktwvSA hA t-Nk .oh
 banks or corporations. He shall careful ly and thoroughly examine into the af- fairs Of every bank. and make report immediately to the Auditor. He. shall ter that the law requires banks to re- port upon. and upon such other subjects as may be required of him by the Audi tor. He shall have power to make a thor ough examination into all the affairs of every bank, or corporation chartered un- der the laws of this State and doing a
 banking business and in doing so to ex- anime any of the officers and agents | thereof on oath. The information which | shall be obtained by the Bank Examiner
 under the provisions or this chapter shall
 true condition of the affairs of said bank.
 and shall not be disclosed by him to any
 person other than the Governor or the Auditor of the State, reports to be made on forms prescribed by the Auditor. Sec. 5. The Bank Examiner snail make from hls reports during the year an an- 1 nual report which shall be published by
 the Auditor as a part of his annual re; also procure a well bound book in which
 he shall record such reports made to the Governor, and also his annual report;
 the Auditor and be subject at all times | to the inspection of the public.
 Sec. 6. If any report of the State Bank
 Examiner is deemed of sufficient import | ance to the public by the Governor or the Auditor, he may require the same pub | lished one time in one newspaper nearest
 the place of business of such bank,
 sss Thss every pank banker
 citation or incorporation of any kind shall | at least twice each year. on or before the | first day of May and November make out sets and liabilities on forms and embrace ing and terms prescribed by the Auditor of the State and furnish to the Auditor of the State under oath of the President | and Cashier or other principal managing | officers, which report shall be preserved
 in the office of the Auditor and shall be tabulat ted and published In the annual re- port of the Auditor under appropriate
 heads and tables. The Auditor snail have authority to require such bank or banker making such report to publish the same on the direction Of the Auditor such bank or banker shall incur penalty of one
 per cent of its capital or capital stock to be sued for and recovered In the name of the State of Alabama in any court of the county Tn Wnlcn Sucn Dank or banker IS doing business or on motion therein on ten days notice said suit shall be prose- cuted by the Solicitor for said Circuit or County in t9G pame oi the State, and the certificate of the Auditor of such facts
 shall be prima facie evidence thereof. A like sum shall be recovered for each and every succeeding thirty days the said bank or banker shall fall to perform said acts.
 Sec. 8. The provisions of this chapter shall apply to all banks, except. national
 banks and to all trust companies and in-
 dividuals doing banking business, whether incorporated or not.
 Sec. g. It shall be unlawful for the State Bank Examiner to disclose to any person or persons or corporation in any way any of the affairs, condition, or bus mess of any institution examined under
 the provisions of this act, other than in the way that such condition of affairs IS to be made known under the provisions of this act: and the State Bank Examiner shall be liable to any person, company or corporation or institution in the penal
 sum Of 5000 whose affairs are disclosed to any person or corporation in violation | of the provisions of this act by said State Bank Examiner; which said sum shall be | recovered by such person, company or
 corporation or institution from the State Bank Examiner and sureties on his of | fcial bond in any court having jurisdic- | tion. And in addition to such penal sum
 such person company or corporation or | institution shall further have the right to
 recover from $ . state Bank Examiner
 and the surenes on his official bond any actual damages 1t may have sustained by | such disclosure
 | Sec 10. The provisions of this act shall
 take effect July 1, 1904.
 Sec. II. That all laws and parts of laws | in conflict with the provisions of this act
 be and the same are hereby repealed.