The Dermott news., 1914-07-02

|
tors In the incorporated Banks of Ar
| kansas Creating the Bank pepost=
| tors Guaranty Fund of the state or
| Arkansas. and Providing Regulations
| Therefor. and Penalties for the Y lola
| ton thereof"
FOR ACT No. ?
! AGAINST ACT No. =.
| Re II Enacted by the People of the
State OF Arkansas
Section / THE stockholders OF evetY
| bank doing business IN this State. shall
| he held individually responsible equally
! and ratablv and rot ore for another for
| all contracts. debts and engagements OF
such bank. to the extent Of three times
! the amount of their stock therein. at tho
! par value thereof In addition To the
/ amount invested in such stock rrov1d-
| ed however. that stockholders Of such
| banks or trust companies as have ae=
| cepted and are participating I'm tie bene-
! fits of the bank guaranty plan herein
! after provided for. shall only be liable
| to its depositors In addition To such
/ stock held hy said stockholders ore tune
! the par value thereof and no more: pro
| vided. further that persons bol'1ng
! stock as executors, administrators. guar
! dams or trustees shall not be personally
! Inject TO liability as stockholders but
/ the estates and funds in their han -
/ shall he liable In Ike manner ani 70 the
/ sar~e extent as the testator. interstate
+ ward person Interested In such trust
/ funds would he II living and competent
| N act and hold the estate In his own
! naroe
Sec Z, Any Incorporated state bank
| trust companv SaVfroS hank doing
! business in this state under the general
~ = '..c'o, 'l'I ~ -, 20
- - a '' ~ ~ tll'N -
State Is herehv authorized and empower
ed to participate IN the assessments ard
, - 80 ~ ~ - -. ~ ~ =
@.,3,to - ~ -
5g.n.s =. 80 - -. oi tatnSdN ne or,
-, -, ~
1911 't',HfAtt - utFci p"hh "llodl
t.le n.tau ,3S VI t3lS az $50 tl',i :.
- tid,I tz9'. - 49,, -
.,s .s5,,, GU 1E ~
prtSi AM 3'F'''tN, aSN|'s NC
l"'' ii '''H 1" - ~ ~ 'd"d 5N - 'f
corn lsS'"ner, ShaH he fl,ed wth sac
raflN s',ntnl sS'oher- "9o SaaiI. 'P'n t3@
tH''F "' sH'n resoiul on maze rf'l 1
'Ns nina 'oo OF thr aV3fS o, SNs1 h1fN
ana u II - FOUND ~ ne solvent - ""
prnneflV naha"el ana r"nddct'nr rs
BUSINESS IN STRICT a'Gordan"e WIN INC
3hTlhE ta" ne tNatb aiter ne h4h<
sta1 nave deposited VIII Tho tatr
r"aStTcT bonds or money a. hereinafter
PROVIDED issue 10 SHch hank a rHrtHi
cat" StH'n ~ substance mat S4ff hank
ms c"mpIeh WIN the provisions ef
th's act ana that rs demos tors are
e'aran teed ~ ihe r2hk demos tors guar.
t0tV fund or TIC state OF Arkansas as
herein nrovi'of.
Sec , BEFORE receiving such c"-tt-
f'c7te from the barE commissioned carh
bark entitled 10 the sD"c according 20
Section Of this act shall. as an owl
denCe OF good fattb deposit and shall
n 81 t-mes maintain With tae STATE
treasurer tsuhiect to the ur'or oT tie
hank COMMISSIONS when eNuutorsi c7rsl
hv the auditor Of Stateb Emitted states
bonds. Arkansas state bonds IMPROVE
n eut district bonds n1uniCinal bonds
+ school district bonds within the state ~
trt7rsas to the amount or five hunlref
dollars for every ono hundred thousand
dollars or fraotiou thereof ~ It's ave~a~-
denoeits eligible 10 guaranty dess IT'S
carital and surr1usN as shown hv ~
l9et four rubl Jsho1 statements provided
trot e1ch hank shall So depnsft no, less
MAN five r1fr Irod dollars -. state
/ troa surer ehall issue HE rarefrt tbere-
- 60 +rt,1tc,ta o,o - 81 t,,t, -.