The Nevada County picayune., 1914-06-12
sxoa.ct tho offender to fin. of five

sSoasct tho offender to fine of five IhG card or advertisement to the er- Iect that its deposits are guaranteed by the bank depositors' guaranty fund or the state of Arkansas when not author iLed so to do under the provisions of thls act shall be guilty of a misde- meanor and upon conviction thereon snail be subject to a fine of not less than rive hundred dollars, nor more than one thousand dollars.
 Sec. g. A solvent bank, upon retiring rom business and liquidating it's af- Ialrs. shall be entitled to receive back rom the State treasurer, after all the deposltors in such bank have been paid Tn full, 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 should such bank be 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. Banks may be permitted, in the discretion of the bank commission CT to exchange their bonds for others acceptable under this act or be allowed to deposit in lieu thereof an equal amount in cash. which may in turn be withdrawn upon the substitution or ponds acceptable under this act.
 Sec. II. If at any regular or special examination of a guaranteed bank it shall be found to be violating any Of the provisions of this act. the bank com missioner shall notify the bank and the bank may be given thirty days in which to comply with the provisions of this act; and If at the expiration of th's tme such provisions have not been complied with, the bank commissioner shall cancel its certificate of member snip in the bank depositors' guaranty fund as herein provided and forfeit it's ponds deposited with the State treasurer for the benefit of the bank depositors guaranty fdhd;
 Sec. 12. All bonds and moneys de posted in lieu of bonds. placed in the State treasury under this act shall be 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 treasurer shall cause the coupons upon the said bonds to be cut thirty days be- fore maturity and sent or delivered to the bank which deposited them; pro vfded always, that said bank shall have paid all assessments in full to date.
 Sec. 13. Any national bank in this state may voluntarily avail its deposi- tors of the protection of the depostors' payments, conditions. and in the same manner as herein provided for State banks banks trust companies and savings
 Sec. IA. It shall be unlawful for any bank guaranteed under the provisions or this act to receive deposits con tinuously for six months in excess Of elght times its paid-up capital and surplus, and the violation of this sec - tion by any bank shall cancel its right to participate in the benefits of tho bank depositors' guaranty fund and work q forfeiture of its bonds deposited with the State treasurer for the benefit of such fund
 Sec. IS. For the purpose of carryinc r into effect the provisions of this act the bank commissioner shall provide forms and make reauisition on the State reports received by the bank commits sioner shall be preserved by him in his office. The State treasurer Is authorized to provide forms and make acquisition on tho State printer for the necessary blanks and record books for his office
 Sec. Is. All acts and parts of acts fr conflict with this act are hereby re- pealed in so far as they so conflict. but no provision of any banking la X or other statute of this State shall s- construed to be amended modified or repealed. except in so far as necessary r. permit the unrestricted operation of this act as applied to banks partict- pating in the privileges of this act.
 Sec. IT. This act shall take effect and Dc In force from and after January l. 1915.
 Filed in tn. office of the Secretary of State on the 18th day of May, 1e1t
 Each elector may vote for or against the above Act
 Witness my official signature tbi. 18th day of May. la14
 EARLE w HODGES,
 NSeAl) Secretary of State