Daily capital journal. (Salem, Oregon) 1903-1919, 1907-03-23
OREGON'S NEW BANE<INGLAW

Section /. The sOVernor. seere-
tary OF state and state treasurer are
hereby constituted = board 70 be
known as the bcara q bank commits
sioners TIE said board shalt ap-
point a hark sStrtlssr for the state
Of orexna. vAose seF@ % ofiice shall
be fosr wears. aatfss seoner removed
for eause. an3 unsii bis successor Is
appolntea ara euSiihcd. No person
shall be Avgciutsd TO said Office who
shall nog have had az least three
years practical experience In the
banklng business or who shall not
have served for q like period in the
banking department OF this or some
other state; and no person, while
occupying the position OF bank ex-
nmInor. shall be employed by, or
have any interest In. any bank or
banking business
Section 2. II a vacancy shall oc-
cur IN the Office OF bank examiner by
death, resignation or otherwise, tho
same shall be filled by appointment
by tho board OF commissioners.
Section. 3. The bank examiner,
with the approval Of the said board,
shall have the right to employ such
clerical assistance as shall be re-
quired In the conduct OF his Office,
but no such assistant shall bo em-
ployed by or have any Interest In
any bank or banking business.
Section 4 The bank examiner,
before entering upon the duties OF
his ONCE. shall take and subscribe
an oath 10 faithfully discharge the
duties OF such Office. and shall exc.
cute 10 the state Of Oregon bond
in the sum OF nifty thousand dollars
in. some surety company authorized
20 do business In this state, and APP
proved by the said board. condition
ed that he viii faithfully and Impair
italy discharge the duties OF his Of
nee and pay over 90 the persons en-
titled by law TO receive II. all money
coming into his hands by virtue OF
his Office; and conditioned further
for the payment Of any and all dam
ages ana costs that may be adjudged
against him under the provisions OF
this act. The cost Of said bond shall
be charge against tho state. to be
audited and allowed as other claims.
Section 3. The bank examiner
shall receive salary OF $4,000 n
year, together with his actual travel
Ing expenses while engaged in bank
examination. 90 be- audited and al
lowed az other claims against the
state. All examinations must be con
Quoted personally by the bank ex-
aminer.
Section G. Tho bank examiner,
with the approval OF the said board,
shall devise seal. with suitable In
scrlption. for his ONCE, description
OF which, with a certificate OF APP
proyal by tho said board, shall be
nled la the once OF the secretary of
state. with an impression thereof,
which shall thcroupon be and be-
come the seal OF the ofilco of the
bank examiner Every certificate,
assignment aud conveyance executed
BY said bank examiner Ia purauanc,
OF the authority conferred upon him
by law and sealed with the seal OF
hts once. shall be received as evi'
dense and recorded In the proper re-
cording Offices IA the same mannol
and with like eftect as deed regular
~ acknowledged. as required by
law; and an copies OF papers In th'
once OF said examiner, certified by
him aud authenticated by his seal
shall be received In evidence equal,
ANA IN like manner as the originals
and without other evidence.
section 2, Any person, frm o
corporation texoept National hanks
having place OF business wlthil
this state where credits are opene'
by the deposit or collection OF mon
80 or currency or negotiable paps
subject TO be- paid or Temitted upol
draft. receipt. check or order. shal
be regarded as bank OF banker
and AZ dolng banking business un
der the provisions of this act.
Section, 5, Banking corporation
may DO formed under tho Seneral In
corporation laws OF this state, fo
the purpose OF conducting aud carry
iRg on a banking business and 20 es
tablish ofAoes OF loan aud deposit u
be known AZ savings banks, or &
establish banks having department
for both CLASSES OF business, upol
the terms and conditions and sub
sect % the liabilities prescribed IA
sais act No banking corporation