River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1909-07-15

make distribution Of the property Of said
bank or banking corporation. as Is herein
provided in the case or distribution by the
f6ereof s6a be snbec the and
control of the circuit court. In case OF
the DEATH removal, or refusal to act OF any
such agent or agents, the stockholders on
the same notice to be given by the COM
missioner upon proof OF such death, re-
moval, or refusal to act being filed with
him, and by the same vose nerel rem pro
the same powers and be subject to the same
liabilities and duties as the agent originally
elected.
Is. Dividends and unclaimed deposits re-
naming unpaid in the hands of the COM
missioner for six months after the order for
final distribution snail De Dy MN deposited
the commissioner of banking, in his name
of Office, in trust for the several depositors
with and creditors OF the Iquidated bank
were received entitled thereto. The COM
missioner shall report to the governor an
nually In his report the names OF banks or
and liquidated and the sums of unclaimed
and unpaid deposits or dividends with re-
spects to each Of them respectively
IA The commissioner may pay over the
moneys SO held by him to the persons re-
spectiveIy entitled thereto, upon being fur
nished satisfactory evidence of their right
TO the same In cases of doubt or conflict
ing claims he may require an order of the
circuit court authorizing and directing the
payment thereof. He may apply the inter
est earned by the moneys so held by him
towards defrayings the expenses In the pay
ment and distribution OF such unclaimed
deposits or dividends to the depositors and
creditors entitled to receive s tine same ana "a
the governor statement OF the amount of
Interest earned by such unclaimed diyi-
dends.
of the statutes are amended to read: Sec
ton 2021 Whenever the commissioner of
banking shall become satisfied that the
capital Of any bank Is impai re- OF reduced
articles of Incorporation, or below the
amount certified to the commissioners OF
banking as paid IN he shall shall ns ss the power
seal Of office to make good such Impairment
or deficiency IS within sixty days after
the date Of such requlsition In any case.
come Impaired or reduced below the amount
required by law or the articles Of incorpora-
ton, the board Of directors OF sneh bank aS
assessment upon all of the stock OF said
bank to make good such deficiency, and
may provide that the amount OF such de-
fciency shall be due and payable at q time
to 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
amount of the assessment against his stock
for ten days after the same shall have be-
come so due and payable, the directors or
~
and sell the same at public sale upon ten
DAYS notice to be given by posting copies
Of such notice of sale in five public places
in the town, village. or city where such bank aaa
shall forthwith pay the amount OF the as
sessment against said stock. The amount
received from the sale Of said stock, less the
cost and expenses of such sale, shall be
paid to the original owner of such stock.
Section 2O24-23 Whenever any officer
in charge of bank shall refuse to submit
nd Of ~
bank to the inspection or the commissioners
of banking, his deputy or examiner IA = a },
on oath touching the concerns of the bank,
the attorney general whose duty 1t shall be
to institute an action to procure q
Judgment dissolving such corporation.
Section 4. In order to carry out the PRO-
visions of this act the commissioner or bank
ing is hereby authorized to commence and
maintain in his own name as commissioners
of banking any and all actions necessary or
proper to enforce any; Of the provisions OF
this act
Section 8. This act shall take effect and
be in force from and after Its passage and
| publication. m<4 4.
Approved June IA. 1909.