The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1911-02-28
Published in The Topeka State Journal
February Is, 1911.l

AN ACT amending sections $40. 543 and
lating to the bank depositors guaranty
fund of the state of Kansas, and re-
pealing said original sections.
Be it enacted by the Legislature of the
state OF Kansas:
IS. SECTION + l. That section 542 of the Gen,
as follows: Sec. 542. All deposits not
otnerwiSe secured shall be guaranteed by
TINS act The guaranty as provided for
obligation as endorser upon bills redis-
counted, nor to bills payable. nor to
or others Each guaranteed bank shall
certify under oath to the Bank Commits
sioner at thezdate of each called state
posit not eligible to guaranty under the
provisions Of this act, and in assessing
such bank this amount shall be deducted
from the total deposits.
Sec. 2. That section 542 of the General
Statutes of 1909 be amended as to read
as follows: Sec. 543. Each guaranteed
bank, and each state or private bank not
guaranteed by this act, shall keep cor
rect record of the interest rate and terms
of each deposit on which it has paid or
agreed to pay interest, and shall make a
statement thereof under oath to the Bank
CommissIoner quarterly. After the pas
who shall pay interest on different terms
or in excess of a rate (Which rate shall
pc uniform within each county, that shall
be approved by the Bank Commissioner
from time to time on any form of deposits
or pays any interest on any SAVINGS de-
posit withdrawn before July /, or january
l. next following the date of the deposit,
OF on any time certificate cashed before
and may be removed from office as pro-
vided by law, and such bank shall not be
permitted to participate in the benefits
of this act; provided, however, that any
existing contract for higher rates of in
terest entered into before the passage of
this act may be carried out unimpaired,
and such existing contract shall not dis
qualify a bank from participating in the
BENEFITS of this act. Any, managing officer
of any bank guaranteed under this act,
any person acting in it's behalf or for
It's benefits, who shall hereafter pay or
promise to pay any depositor. either d.
rectly or indirectly, any rate of interest
on different terms or in excess of or in
addition to the maximum rate of interest
permitted by this act, or who shall. with
this act pledge the time certificate or
other obligation of such bank as security
for the personal obligation of himself or
any other person, or who shall display any
card or other advertising tending to con-
vey the impression that the deposits of
Kansas, either directly or indirectly, shall
disqualify the bank from further partici-
fund, and forfeit its bonds or money de-
posted in lieu thereof. with the State
Treasurer for the benefit of such fund.
person acting in its behalf or for it's ben
eft, who shall display any card or adj
Xertisemsnt or make any statement to
teed by the bank depositors guaranty
fund of the State of Kansas, when the
provisions of this act, shall be guilty of
q miSdemeanOr, and upon conviction
thereof. shall be subject to a fine of not
less than Five Hundred Dollars nor more
than One Thousand Dollars.
Sec. g. That section 545 of the General
as follows: Sec. $40. A solvent .guaran-
teed bank upon retiring from business
and liauidating it's affairs, shall be entitled
to receive back from the State Treasurer
it's bond or money pledged, after all de-
positors in such bank and all assessments
on account of the guaranteed banks in
LIQUIDATION have been paid in full, but not
any part of any unused assessments that
may be in the bank depositors guaranty
fund.
Sec T. Original sections 542, 54S and 545
of the General Statutes of the State of
Kansas of 1909 are hereby repealed.
Sec 5. This act shall take effect and be
in force on and after its publication in
the official state paper;
mated in the Senate, and passed that body
February oath, 1911.
House Amendments Concurred in Feb
-''' RICHARD ]. HOPKINS.
President of the Senate.
WALTER A. JOHNSON.
Passed the House February Is, 1911.
G. II. BUCHANAN.
Speaker of the House.
EARL AKERS.
Chief Clerk of the House.
Approved February q, 1911,
w. r. STUBBS. Governor.
State of Kansas.
| office of the Secretary of State
| I, Chas. H. Sessions, Secretary of State
| of the State of Kansas. do hereby certify
| that the above and foregoing is a correct
| copy of the original enrolled bill now on
| file In my office.
IN TESTIMONY WHEREOF. I have
| hereunto subscribed my name
| ISesl1 and AFFIXED my official seal
thds 9th day of February, 1911
CHAS H. SESSIONS,
| Secretary of State.