Der Sonntagsbote. (Milwaukee, Wis.) 1906-1912, 1909-07-11

make distribution " the property Of SAID
ranh or pGnklng corporation. as Is herein
PROVIDED IN the case OF dist rihution hy the
Thereof shall be subject 70 the direction and
control OF the circuit court. In case OF
the death, removal. or refusal TO act Of any
tne saule notice. % be given By the con-
missioner upon proof OF such death, re
moFal, or refusal to act being fled with
BIN, ana by the same vote heteinbefOre pro-
vided. may elect a successor, who shah have
me Same powers and be subject TO the same
tlaDlhsles ana duties as the agent originally
IS. Dividends and unclaimed deDos.fs re-
naming unpaid IN the hands OF the com
missioner Tor SIX months after the order for
n a distribution shal be by hin deposited
~ one or more state banks. 10 the credit ot
the commissioner OF banking. in his nane
o. ONCE, IN trust for the several deposltors
WITH ana creditors Of the liquidared bank
or banking corporations from which they
were received entitled thereto. The COM
missioner lsaai report 10 the governor an
nua!iy IN MS report the names Of banks or
nankins corporations 80 taken possession OF
ana IcQloated and the sums OF unclaimed
ana unpaid deposits or dividends With re-
spects 70 each Of them respectiYel
il. The commissioner may pay over the
moneys 50 held oy him to the persons re
spectiveiy entitled thereto upOn being fur
nished satisfactory evidence OF their right
20 the same, in cases OF dou0t or eonfsct-
ing claims. he may require an order Of the
RAN aAS.fHC 49,
payment lhereoi, lie may Apply the Inter
est earned by the moneys 70 held oy him
towards oeiraytns tho expenses In the pay
ment ana Distribution OF such unclaimed
deposits or dividends to the depOsltors and
creditors emitted 20 receive the same, and
he shall Include In his annual report 70
the governor. 4 statement OF the amount OF
interest earned by such unclaimed diyi-
dends.
Section 3. Sections 20e1 and 202t--23
q TN, statn,es are amended to read See:
rion 2oZI Whenever the eommissioner OF
banking shall become satisfied that the
capital % any bank Is impaired or reduced
below the amount required by law or the
articles Of inc0rp0 ration, or below the
amount certified to the commissioner af
banking rs PAID IN. he shall have the power
20 require such hank under hia hand and
seal q Office te make good such Impairment
or deficiency " within sixty days after
the date Of such requlsitSon. In any case.
where the capital of a bank shall have be-
come impaired or reduced below the amount
required by law or the articles of incor1Jora.
tion. the board Of directurs Of such bank
shall have the power TO make a pro rata
assessment upon all Of the stock OF said
bank to mike good such deficiency. and
may. provice that the amount Of such de-
Gciency ghau be due and payable AT a time
70 be fixed BY such board OF directors, which
Time shall be not less than ten days after
notice OF said assessment and II any stock
hol6er shall fail or neglect TO pay Sthc
amount or the assessment against his stock
for ten days after the sam shall have be-
tohnC ~ ~ .ulA ltNyAuAtt the AiatttDAu "
such nanH may ODER said stock for sale,
and sch the sane at public sale upon ten
d~aysienottce 70 be given by posting copies
OF such notice OF sale in i've public places
in the town, village. or city where such bank
Is located, Upon such sale. the purchaser
shall forthwith pay the amount OF the as.
sessEnent against said stock. The amount
received from the sale OF said stock, less the
cost sud expenses Of such sale, 8hall be
paid TO the original owner n such stock
section 2024-23. Nheneyer any on Ger
In charge of q hank shall refuse 10 submit
the books. papers. and concerns OF such
bank TO the inspection OF the commissioner
Of banking, bis deputy, or examiner APP
pointer hereunder, or refuse to be examined
on oath touching the concerns Of the bank,
the commissions Of banking may inform
the attorney general whose duty II Hhali be
to institute " an action TO procure q
Judgment dissolying such corporation.
Section 4. In order to carry cut the pro-
visions % this act the commissioners OF bank
ing Is hereby authorized 10 mme and
maintain in his own name rs commissioner
OF banking any and all actions necessary or
proper TO enfocce any Of the provisions Of
this act.
Section 5. This act shall take effect and
be IN force from and after It's passage and
publication.
ApproTea-Ju ne Il. 1909.