The Guthrie daily leader. [volume] (Guthrie, Okla.) 1893-1996, 1909-01-22

bc n Enacted ~ me recipe " INC ot"'' ~ C''U'"'
SECTION l. Section Three Of Article Ono Of Chapter Six
OF tho Session Laws Of Oklahoma nineteen hundred seven an
eight be and the same hereby amended to read as follows
banking corporation organized under the provisions OF this
Act shall be permitted to receive money deposit not o exceed
ten times the amount OF It's paid up capital and surplus deos'S
OF other banks included and pay interest thereon mol %
exceed the that may from time to time be liked b c bank
Commissioner the maximum rate that may be PAID upon dr
posts by banks in this State and whenever shall appear from
Two successive reports made BY such banking corporation that the
total deposits arc more than ten times tho amount Of rs paid
cash capital and surplus deposits Of other banks not included
shc Bank Commissioner shall have power and shall be his duty
10 require such bank within thirty days increase is capital o.
surplus receive deposits to buy and SELL exchange
gold silver coin bullion money bonds Of The Unitcl
States OF OF this State OF any city county school district 1r
other municipal corporation thereof and State county city town
ship school district other municipal indebtedness to lend mon
cy on chaitc personal security real estate secured by
first mortgages running not longer than year Provided
that such real estate loans shall not exceed twenty cent Of the
aggregate loans any such bank suitable building ng
nurc and xtucs for the transaction Of its business The yaie
II which shall exceed onchd Of the capital OF such bank
fully raa: Provided that nothing in this Section shall prohibit
snrh hark from holding and dsposng Of such real estate as
may acquire through the collection Of debts due H and povb-
ia further that all banking institutions organized cor
pnraons doing business this State hereby permitted
nue said business present incorporated but IN all other
srccts their business and tic Of conducting the
and tho operation Of said bank shall be carried subject Che
laws Of this State and in accordance herewith and Provided
further that bank except those that have complied with
that may he organized under the laws Of This State relating
st companies shall engage any business other than
thorized BY this Act
SECTION 3 Section -Four Of Article One Of Chapter Sis
pF the Session Laws of Oklahoma nineteen hundred seven and
eight be and tho is hereby amended to read as follows
1hat hereafter te acpta stock which shall be fully paid IN
shall not Be less than fifteen thousand dollars in towns having
fifteen hundred inhabitants less The capital stock Of when
shall be fully paid up shall not be less than twenty-five THOUSAND
dollars in cities and haynb than fifteen hundred I'M
aban and less Than six thousand inhabitants The capital stock
which shall be fully paid up sa not be less than fifty thousand
dollars cities and having than fifteen hundred H.
less than fifteen thousand Inhabitants lc capital stock which
shall be fully paid up shall not less than hundred thousand
dollars in cities having than fifteen thousand inhabitants
SECTION Section Two OF Article Two OF Chapter Six
Of he Session Laws Of Oklahoma nineteen hundred seven and
eight be and the same is hereby amended to read follows
There hereby levied against the capital stock
81 each and every bank and trust company organized OF existing
under tho laws Of This State for the purpose o creating dcpos
iIors guarantee fund equal five per cent Of its average daily
deposits during It's continuance ii business as bankng corpora
ton Said shall b payable oncffh during c First
year. twentieth during each year thereafter until The Total
Of said FIVE per shall have been fully paid
Provided however that the assessments heretofore levied and paul
BY banking corporations companies existing shall
be deducted FROM and credited payment said five per ce
assessment hereby levied The average daily deposits Of eaca
bank during the proceeding prior the passage and approval
of this Act shall be taken the basis Tor computing the apoe
81 he first payment the levy hereby made Ono year after NE
passage and approval Of this Act and annually thereafter each
bank and company doing business under c laws Of this
State shall report c Dank Commissioner ihc q M
average daily deposits for the preceding year and il such de-
posts in Of the upon which the first or snbe
qent payment Of the levy hereby made Is computed cac bank
Of trust company having such increased deposits shall immediate
Il pay Into the depositors guarantee fund sufficient to pay
any deficiency said first subsequent payment shown IS
sur Increased deposits After The five per cent assessment here
BY levied shall have been fully paid np additional assessments
shall be levied o. collected against the capital stock Of any sch
bk trust company except emergency assessments hereinafter
provided pay the deposors Of failed hanks and except
menis may be necessary BY Of increased deposits
maintain sadrnd al i've Ser rcnum q hc aeEregaio 81 a de-
osHs such banks and trust companies doing business iulf
the laws ofbs State Whenever the dcposors guarantee uhd
Aa bocone pared BE caaeed below said se pc ccnia
BY Of payments dcpotos OF failed banks from any
other The State Banking Board shall have the power aus
It shall be their duty levy emergency against tie
capital stock Of each bank and trust company doing business
this State sufficient 70 restore SAID impairment reduction be-
ox I'VE f cent bul lhe aggregate q such emergency
tuls shall not IN any calendar year excced per ccnn
Of He average daily deposits Of III such banks and trust COM