The Washburn times. [volume] (Washburn, Wis.) 1896-1976, 1909-07-29

make distribution of the properly o. SAID
bank or banking corporation as IS herein Elm
provided In the case Of distribution spy95 me
thereof shall DE subject to the direction and
control of the circuit court IN case OF
the death, removal or refusal 70 acI 81 any
the same notice. to be given by the COM
missioner upon proof OF such death, re-
moval, or refusal to act being nisd with
him, and by the same vote herelnbeI0re pro
vided. NAV elect a successor who shall have
the same powers and be suDlect 70 tne same
liabilities and duties as the agent originally
elected. - - =
Is. Dividends and unclaimed deposits re,
naming unpaid in the hands or the com
missioner for six months after tne ORDER. FOR
final distribution shall be- ny H, IN uep39ssttea
in one or more state banks, 10 tne credlt or
the commissioner Of banking, In ms name
of Office, in trust for the several deposltors
with and creditors Of the f mGu1ua5eG p PAM;
were received entitled thereto. The, com
missioner shall report to tne governor an
nually in his report the names OF panKs or
and liQuidated and the sums Of unclaimed
and unpaid deposits or dividends with re-
spects to each of them respectively.
IA. The commissioners may pay over the
spectively entitled thereto, upon being fur-
nished satisfactory evidence OF their right
to the same: In cases OF doubt Or cont.et
circuit court authorizing and directing the
PAYMENT thereof He may apply the Inter-
est earned by the moneys 30 nelo 70 6y MN
towards defraying the expenses In the pay
inent and distribution Of such unclaimed
deposits or dividends to the deposiIors and
creditors entitled to receive the same, ana
he shall include In ms ANNA " tha a .epEM 60
interest earned by such unclaimed dlv1-
dends 80 s1t:%+. y,
Section 8. Sections 2o21 and 2924-z2s
Of the statutes are enc e
banking shall become satisfied that the
capital Of any bank is impaired or REDUCED
beow the amount rsgGeo o ' SeloW o. f fhe
amount certified to the c2mmlssloner oI
banking as paid In. he shall have the power
to require such bank under ms hand and
seal a Sf s t: "ass wg EGhd s4ty ds af
the date Of such reqnisition.. In any case,
where the capital Of bank Snail have pc
required by law or the articles Of tnc0rpora-
ton, the board Of directors or such bank
shall have the power to MAKE q pro rata
upon a all o. y
may provide that the amount OF sucn De
ficiency shall be due and payable at time
to be fixed by such board OF dtrectSrs, wa t.,.
notice Of said assessment; ana II any stock
holder shall fail or neglect to pay the
amount of the assessment against MS stock
for ten days after the same shall have be-
such bank may offer said stock for sale,
and sell the same at public sale upon ten
days notice to BE given b. posting COPIES ds
in the town. village, or city where such bank
is located: Upon such sale: the purchaser
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 a bank shall refuse to submit
the books, papers, and concerns OF such
bank to the inspection of the commissioners
Of banking, his deputy or examiner ap,
pointer hereunder, or refuse to be examined
on oath touching the concerns of the bank,
the commissioner Of banking may inform
the attorney general whose duty 1t shall be
to institute an action to procure
Judgment dissolving such corporation.
Section 4. In order to carry out the pro-
visions of this act the commissioner Of 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 5. This act shall take effect and
be in force from and after its passage and
publication.
Approved June II. 1909. ,,.t -.