The Montgomery advertiser., 1903-10-23

viding that three-ffths of said 1s per crs,
 tum may consist of the balances due tv
 banks and bankers to said bank
 sec. D. Whenever it shall appear h the
 treasurer that any bank has perrnitfe6 us reserve fund to fall below the amount prescribed In the foregoing section, inc
 treasurer shall at once notify such bank
 70 make good such reserve; and if the
 said bank shall fail for thirty days there
 after to make good such reserve. 1t sbaIl
 rorIeit 10 the State twenty-five dollars for
 each day in excess of the said thirty dave
 to be collected by the State in the man
 ner allowed by law for the collection of
 monies due the State.
 | Sec. 5. No bank. person, firm or corpo.
 ration doing banking business shan Iepd
 10 any saiaried officer, agent or employe
 or the bank without good security. | Sec. 2. No bank. person. firm or corno-
 ration doing a banking business shah bs
 allowed to lend to any one person. firm or corporation unless such loan is amuiv I secured by good collateral, or shall be approved by a majority of It's board of directors. more than 10 per eentum of its capital stock, surplus and undivided prof. | It's
 Sec. 8. Whenever, by reason of losses.
 banks capital is impaired, the shrink
 age fin said capital represented by said | losses shall be charged on the books of said bank to profit and loss, so that the
 notes and bills discounted and loans made | shown debt due the bank, shall be the
 live and collectible assets of said bank Sec. g. The Governor of the State shall
 appoint State Bank Examiner. who shall
 De competent and experienced account ant. and not interested directly or indi-
 rectly in any national bank. and he shall | receive salary not to exceed two thou | sand dollars per annum and actual nec- essary travelling expenses. His term of office shall be the same as that of the Treasurer. and he shall be subject to re- rnoval for cause by the Governor. Sec. 10. The Bank Examiner, before entering upon the duties of his office, shall take and subscribe the oath of of i fice prescribed by the Constitution, which | shall be filed in the office of the Secre- | tary Of State. and he shall give bond in the sum of fifteen thousand dollars, whlcn bond shall be approved by the State Audi | tor. payable. conditioned and with legal ! effect as prescribed by the provision of | Section 30s7 of the Code of 1896 relating
 to official bonds. Such bond shall be flied | and recorded in the office of the Secretary | of State. If the Bank Examiner shall l disclose any information acquired by him | in the discharge of his duties to any pcr-
 son not connected with the bank to which | such information relates, he. shall be guilty of mfsdemeanor.
 Sec. Il. The State Examiner, during his term of office. shall not be an ofiicev agent or employe of any bank in this State, State or National. and ne shall not be shareholder or owner of any pecuni- ary fnteres. in any bank subject to the provisions of this chapter, or in any Ma tional Bank. He shall not be allowed to
 receive any commission, fee or reward to himself from any officer, agent or ern-
 ploye of any bank, State or National, do-
 ing business in this State, and. the re-
 ceiving of any such benefit by him shall
 be felony, and punished by Imprisonment
 in the penitentiary for term of not lese
 than one nor more than five years. Any
 person so offering or giving any such
 commission, fee or reward to the State Bank Examiner. shall be guilty of a fel-
 ony and punished by Imprisonment in the
 penitentiary not less than one nor more than five years.
 Sec. 12. The Bank Examiner shall visit
 every bank and corporation chartered by the laws of this State and doing a bank ing business, at least once in each year, and at least twice in each year if it shall be practicable for him to do so. He shall
 not visit at stated times, nor shall he
 permit any one to know at what time he will visit such banks or corporations. He shall carefully and thoroughly exam inc into the affairs of every bank, and make report to the Treasurer immediate | ly. He shall cover in said report all the | subject matter that the law requires | banks to report upon, and upon such other subjects necessary for the protec- | tion of deposttors, creditors and stock
 holders thereof. as may be required of | him by the Treasurer, Tn addition to | such visits, the Treasurer may require | him to visit any such bank at any time | when fin the Treasurers opinion the | public interest demands. He shall have
 power to make a thorough examination | into all the affairs of every bank.
 corporation chartered under the laws of
 this State and doing a banking business. | and doing so to examine any of the off, l cers and agents thereof on oath The in- | formation which shall be obtained by the | Bank Examiner under the provisions of this statute shall be for the purpose of | ascertaining the true condition of the af-
 fairs of said banks. and shall not be disclosed by him to any person other
 than the State Treasurer. It shall be unlawful for the Bank Ex-
 aminer to make or report any list of the
 names of the depositors in any bank or
 to disclose to any one information as to
 who are depositors or the amounts of the
 several deposits. The Bank Examiner
 making or reporting such list or disclos- ing such information shah be guilty of
 misdemeanor and be punished by a fine of
 not exceeding one thousand dollars, and
 snail also be liable to the person, firm
 or corporation whose affairs are so dis
 closed in the penal sum of one thousand dollars, which sum shall be recoverable
 against the Bank Examiner and the sure-
 ties on his official bond in any court hav- ing jurisdiction.
 Sec 13. The salary and necessary trav- cling expenses of the Bank Examiner shall be audited by the Auditor and paid monthly by warrant drawn by the Au- ditor on the Treasurer in favor of said Bank Examiner.
 Sec. IA. The State Bank Examiner shall make, from his reports during the. year, an annual report which shall be published by the Treasurer as a part of his annual report to the Governor Tho Treasurer shall also procure a well bound book in which he shall record such re- port made to the Governor, and also his annual report: which book shall remain in the office of the Treasurer and be sub feet at all times to the inspection of the public.
 Sec. 15. If any annual report of the State Bank Examiner is deemed of sum- cient importance to the public by the Governor. he may require the same pub. leading daily papers of the State.
 Sec. IS. Whenever the Treasurer finds that a bank or corporation chartered by the laws of this State and doing a banks ing business. is not in a solvent condi. tIon. he shall immediately report the con. dition of the hank to the Goyerpor and