The Montgomery advertiser., 1907-03-11

mission, interest or reward for deposit Ing or causing to be deposited funds or moneys of the State in any State de- positary, and any officer or custodian who violates this section shall be guilty of a felony, and on conviction thereof, shall be sentenced to the peni- tentiary for term not exceeding five years.
 Sec. 6. That it shall be the duty of each State depositary to give to the officer placing funds or moneys there in to the credit of the State Treasurer a receipt therefor in duplicate, and such officers shall immediately mall to the State Auditor a duplicate of the said receipt and the State Auditor shall, upon receiving the same, pass the amount therein mentioned to the credit of said officer and transmit the dupli- cate receipt to the State Treasurer, who shall mail to the said officer a receipt for the same,
 Sec. 2. That it shall also be the duty of each State depositary to report in writing at the close of each business day to the State Treasurer the total amount of all sums placed therein for his account on that day, by whom made and for what purpose made, and at the end of each calendar month, a statement of the balance to the credit of the State Treasurer in such State depositary shall be made by it to the Governor, State Auditor and State Treasurer.
 Sec. 8. That the funds or moneys SO placed in such State de3ositary shall be held by it subject to the check or order of the State Treasurer, and if any State depositary having funds or moneys to the credit of the State Treasurer, shall fail to pay any check drawn or order made by the State Treasurer on such State depositary. or shall fail to faithfully account for all the State funds or moneys that may have come into it's possession, it shall be the duty of the State Treasurer Id forthwith sell the bonds deposited by 1t under the terms of this act, or a suf- ficient amount thereof, to pay off and discharge any sum or sums in such State depositary to the credit of the State Treasurer, and which are unpaid together with the cost and expense of advertising a sale of the bonds. The State Treasurer shall advertise the proposed sale of such bonds for ten days in daily newspaper published in Montgomery, Mobile and Birmingham. and the sale shall be made in front of the Capitol and at public outcry for cash.
 Sec g. That upon the designation of any bank or trust company as a State depositary, the bonds which are re- quired by this Act to be deposited with the State Treasurer, shall be registered bonds and in the name of the bank or trust company so depositing the same and any sale@ of said bonds or part thereof authorized by this act to be made by the State Treasurer shall, when the sale is made and the pur- chase price paid, have the effect of transferring to and vesting in the pur- chaser at such sale, title to the said bonds so purchased. and the purchaser shall thereby be authorized to have the bonds so purchased by him registered in his own name.
 Sec. 10. That when any bank or trust company, acting as a State de- positary, ceases. or desires to cease, acting as such, it shall, after making a full account of its transactions as State depositary and discharging all the obligations and liabilities imposed