The Dermott news. (Dermott, Ark.) 1910-1977, 1914-06-18

y
hundred dollars, and any bank display
ing card or advertisement to the ct
feet that It's deposits are guaranteed by
the bank depositors' guaranty fund or
the state of Arkansas when not authot-
lied so to do under the provisions OF
this act shall be guilty OF misde.
meanor. and upon conviction Thereon
shall be subject to fine of not less
than five hundred dollars, nor more than
one thousand dollars.
Sec. Q. A solvent bank upon retiring
from business and liquidating it's af-
fairs. shall be entitled to receive back
from the State treasurer, after all the
deposi tors In such bank have been paid
in full. its bonds or money pledged. but
not any part OF any unused assessment
that may be in the bank deposttors
guaranty fund; provided. however, that
should such bank he turning over its
business to another bank. It shall not
receive back its bonds or money de
posted in lieu thereof. until the bank
receiving its business shall have de-
posted with the state treasurer bonds.
or money in lieu thereof according TO
the requirements OF this act
Sec. 10. Ranks may be permitted I'm
the discretion of the bank commission
err 70 exchange their bonds for others
acceptable under this net or be allowed
to deposit in lieu thereof an equal
amount in cash. which may in turn be
withdrawn upon the substitution OF
bonds acceptable under this act
Sec. II. IF at any regular or special
examination OF guaranteed bank II
shall be found to be violating any Of
the provisions of this act the hank corn
missioner shall notify the hank. and the
bank may be given thirty DAYS in which
to comply with The provisions of this
act and II at the expiration OF tbs
time such provisions have not been
compiled win. the bank commissioners
shall cancel It's certificate of member
ship In the bank depositnrs' guaranty
fund as herein provided and forfeit its
bonds deposited with the state treasurer
for the benefit of the bank depositors
Sec, II All bonds. and moneys de-
posted IN lieu OF bonds placed in the
State treasury under this act shall he
kept In said treasury separate from all
other bonds and moneys, and to the
credit of the bond account OF the bank
depositors guaranty fund. and shall be
used for no other purpose The STATE
treasurer shall cause the coupons upon
tho said bonds to he cut thirty DAYS be-
fore maturity and sent or delivered TO
the bank which deposited them. pro
Ntded always. that said bank shall have
paid all assessments IN full to date
See. II. Any national bank IN this
state may voluntarily avail its de-rosi-
tors Of the protection OF tho depositors'
guaranty fund upon the same terms.
payments. conditions and in the Same
manner as herein provided for State
banks. trust companies and savings
banks
Sec n II shall be unlawful for any
bank guaranteed under the provisions
of this act to receive deposits con
ttnuouSlv for six months In excess of
eight times It's paid capital and
surplus, and the violation OF this
ton by any bank shall cancel It's right
to participate In the benefits Of the
bank depositors guaranty fund. and
work forfeiture Of its bonds depositei
with the state treasurer for the benefit
OF such fund
Sec IL For tho purpose or corrvi7r