The Topeka state journal., 1908-02-12

SENATE BILL NO. 81.
AN ACT amending section 434 of the
General Statutes 1901 relating to banks
and banking. and repeating original SEQ
conflict herewith
Be 1T enacted by the Legislature Of the
Section 1. That section 4s4 of the Gem
eral Statutes of 1901, be amended so as to
read as follows: Sec. 434. If, upon exam
OF his deputy. or from any report made to
the bank commissioner. 1t shall appear
that any bank is inso1vent. or has wi1fully
violated any requirement Of the act to
which this Is anaendatory, it shall be the
duty of the bank commissioner to imme-
diately take charge Of such bank and all
property and effects thereof. The bank
commissioner may appoint a special dep
uty bank commissioner to take charge Of
the affairs Of an insolvent bank tempor-
deputy shall qualify, give bond and re-
ceive compensation the same as g. regular
such bank or allowed BY the court as
costs in case of the appointment Of a re-
ceiver: Provided. That in no case shall
cial deputy for a longer period than nine
the bank commissioner shall, as soon as
ton into its affairs. its actual condition;
and whenever he shall become satisfied
that such bank cannot resume business or
liquidate its Indebtedness to the satisfac-
ton Of all its creditors, he shall forthwith
appoint receiver and require Of him such
bond and security and allow him such
reasonable compensation as he deems
proper; such compensation to be subject
to the approval Of the District Court Of
the e IN % party s n
terest, such receiver, who shall be a resi-
dent Of the County in which such bank is
commissioner shall take charge of such
bank and its assets, and wind up the af.
fairs and business thereof for the benefit
"a ,v,5 5efo al- -hxf7
ers Such receiver shall upon the order
of a court Of competent jurisdiction. or
the Judge thereof in Chambers, upon the
OF compound ali bad or doubtful debts
due to the bank and sell all personal
property Of such bank on such terms "a as >
order of such court. sell all real property
of such. bank on such terms as the court
the the, debts Of such bank, enforce the indi-
vidual liability Of the stockholders Such
receiver shall pay over all moneys re-
as ordered by the bank commissioner,
PROVIDED, that the bank commissioner
shall appoint any person who the holders
against such bank may agree upon in
writing and provided further that such
creditors SO agreeing saail nave nave the the rlgn. m !.
name as to the compensation and charges
to be by him received for lauidating the
affairs Of such bank. and shall make re- re-
acts and proceedings.
Sec g Original section 4S4 of the Cen
eral Statutes of 1901, and all acts or parts
| Of acts In conflict herewith, are hereby
repealed
Sec. g. This act shall take effect and
be in force on and after its publication In
the official state paper.
I hereby certify that the above bill orig
mated in the Senate. and passed that body
aa'' 80 w. J. FITZGERALD,
President of the Senate.
| ~ w. s. KRETSINGER.
Secretary of the Senate.
Passed the House January 80, 1908.
J. s. SIMMONS.
Speaker of the House.
CHAS. STEIGER,
Asst Chief Clerk of the House.
sl7s=s E. w. HOCH.
Governor.
STATE OF KANSAS
Office of the Secretary OF State.
C-E. Denton. Secretary OF State OF the