The Birmingham age-herald., 1903-10-23

ilea5uEef that any bank has permitted It's reserve fund to fall below the amount prescribed In the foregoing section. the I Treasurer shall at once notify such bank to make good such reserve; and If the said bank shall fail for thirty days there after to make good such reserve, 1t shall forfeit to the State twenty-five dollars for each day in excess of the said thirty days to be collected by the State in the man her allowed by law for the collection of monies due the State
 Sec. 6. No bank person, firm or eorpo- ration doing banking business shall lend to any salaried officer. agent or employe Of the bank without good security
 sec '. No bank. person, firm or corpo- ration doing a banking business shall be allowed 10 lend to any one person firm or corporation unless such loan Is amply secured by good collateral. or shall be approved by a majority of it's board Of directors, more than 10 per centum of It's capita stock surplus and undivided prof It's.
 Sec. g. Whenever by reason of losses. a banks capital is impaired the shrink age in said capital represented by said losses shall be charged on the books of said bank to profit and loss. so that tho notes and bills discounted and loans made shown debt due the bank shall be the live and collectible assets of said bank. l appoint State Bank Examiner. who shall be competent and experienced account ant, and not interested directly or indi- reetly in any national bank. and he shail receive salary not to exceed two thou- sand dollars per annum and actual nec- essary travelling expenses. His term Of l office shall be the same that of tho l Treasurer, and he shall be subject to re- moYal for cause by the Governor. l Sec. 1O Tho Rank E-xarafuHr bafarA entering upon the duties of his office. shall take aud subscribe the oath of of- l flee prescribed by the Constitution, which shall be filed ln the office of the Secrc- tary of State. and he shall give bond In the sum of fifteen thousand dollars. when bond shall be approved by the State Audi tor, payable. conditioned and with legal | effect as prescribed by the provision of Section 30S7 Of tho Code of 1896 relating to official bonds. Such bond shall be fiieG and recorded in the office of the Secretary of State If the Bank Examiner shall disclose any information acquired by him In the discharge of his duties to any per son not connected with the bank 10 which such Information relates, he shall he guilty of a misdemeanor
 Sec. Il. The State Examiner during his term of office. shall not be m officer
 agent or employe of any bank In th.s State. Stato or National and he shall not
 
 ary interest 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 em- l'loye of any bank, State or National, do- ing business fin this State. and the re- ceivng of any such benefit by him shali be felony. and punished by Imprisonment In the penitentiary for a term of not less than one nor more than five years. Any person so offering or giving any such | commission, fee or reward to the Stale | Bank Examiner shall be guilty of fel- ony and punished by Imprisonment in the | penitentIary not less than one nor more than five years.
 | Sec. P. 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 1t 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- ton of depositors, creditors ard. stock | holders thereof as may be required of | him by the Treasurer. In addition to | such visits the Treasurer may require him to visit any such bank at any time when in the Treasurer's opinion the public interest demands He shall have | power to make a thorough examination | into all the affairs of every bank or | corporation chartered under the laws of | this State and doing a banking business, and doing so to examine any of the offi- 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- i aminer to make or report any list of the | names of the deposltors in any bank or to disclose 10 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 a msdemeanor and be punished by fine of not exceeding one thousand dollars, and shall 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 hay 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 he published by the Treasurer ns q part of his annual report to the Governor. The Treasurer shall also procure a well bound book in which hs 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 q the public.
 Sec 15. If any annual report of the State Bank Examiner is deemed of suffi- cient importance to the public by the Governor, he may require the same pub lished one time in one more of the leading daily papers of the State.
 Sec 1e. Whenever the Treasurer finds that bank or corporation chartered by the laws of this State and doing bank | ing business. is not In solvent condl- ton. he shall immediately report the con- dltion of the bank to the Governor. and 1t shall be the duty of the Governor to direct the Attorney General to institute proceedings in court having jurisdiction In the county where tho bank or parent bank is located. to put the bank in ths