The Forrest City times., 1914-06-19

suo5sct the offender to a fine of five nundred dollars, and any bank display ihS card or advertisement to the eff Ieot tAat its deposits are guaranteed by ..e oank deposttors' guaranty fund Of tns State of Arkansas when not author ised so to do under the provisions of .nis act shall be guilty of misde- meSnor, and upon conviction thereof .hi nai be subject to a fine of not less than Tive hundred dollars nor more than one thousand dollars
 Sec g. A solvent bank upon retiring rom business and iiquidating it's af Ialrs, shall be entitled to receive back rom the State treasurer after all the Wuepositors W in such bank have been paid m tull. its bonds or money pledged but not any part of any unused assessment that may be in the bank depositors' guaranty fund; provided, however. that Sioulo such bank be turning over its ousiness to another bank. it shall not receive back it's 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. Banks may be permitted. in tue discretion of the bank commi ission- CT To exchange their bonds for others acceptable under this act, or be allowed amount In cash. which may in turn be witnorawn upon the substitution of bonds acceptable under this act.
 Sec; II: If at any regular or special eNai eNkaimihation of a guaranteed bank 1t snail be found to be violating any of the provisions of this act, the bank com missioner shall notify the bank. and the oahk may ha given thirty days In which .o comply with the provisions of this act; and if at the expiration of this tfne such provisions have not been complied with the bank commissioner shal cancel its certificate of member shlp Tn the bank depositors guaranty iuhd as herein provided and forfeit it's oohus deposited with the State treasurer TOT the benefit of the bank depositors guaranty fund.
 Sec. 12. All bonds and moneys de- nosited in lieu of bonds, placed in the State treasury under this act shall be kept Tn said treasury separate from all other bonds and moneys and to the Sreolt Of the bond account of the bank uePosltors' guaranty fund, and shall be used for no other purpose The Stata treasurer shall cause the coupons upon the said bonds to be cut thirty days be .ore maturity and sent or delivered to the bank which deposited them: pro- Vlded always, that said bank shall have pald all assessments in full to date sec l3 Any national bank in this state may voluntarily avail it's deposI- TOTS or the protection of the depositors guaranty fund upon the same terms payments, conditions, and in the same manner as herein provided for State
 ih9' trust companies and savings
 Sec. IA It shall be unlawful for any bank guaranteed under the provisions or thls act to receive deposits con- lihuonslY for six months in excess of elght times it's paid-up capital and surplus and the violation of this sec tlon by any bank shall cancel it's right 10 participate in the benefits of the sank depositors' guaranty fund and work forfeiture of it's bonds deposited with the State treasurer for the berefit of such fund.
 Sec. l5. For the purpose of carrying into ehect the provisions of this act the pank commissioner shall provide rorms and make requisition on the State printer for the necessary blanks, and all reports received by the bank commits sloner shall be preserved by him in his omce. The State treasurer is authorized 10 proVlde forms and make acquisition on the State printer for the necessary blanks and record books for his office
 copIllct with this act are hereby re. pealed in so far as they so conflict put no provision of any banking law or other statute of this State shall pc construed to be amended modified or repealed. except in far as necessary 10 permit the unrestricted operation of thlS act as applied to banks partici- pating in the privileges of this act.
 sec IT. This act shall take effect and 1915 '"'uaiS l.
 Filed in the office of the Secretary of state on the 18th day of May, 1914
 Each elector may vote for or against % Witness my official signature this 2sth day of May, 1914
 <s EARLE W. HODGES.
 \Se~i' Secretary of State