The Nevada County picayune., 1914-06-26

 subject the offender ee fins of five hundred dollars and any bank display Ing card or advertisement to the CT rect that its deposits are guaranteed py the bank depositors guaranty funo or ine state of Arkansas when not author iSed so to do under the provisions oi this act shall be guilty of a misde- meanor, and upon conviction thereor snail be subject to a fine of not less than Tive hundred dollars, nor more than one thousand dollars.
 Sec. 9. A solvent bank, upon retiring rom business and liquidating it's al fairs, shall be entitled to receive back rom the State treasurer, after all the depos1tors in such bank have been paid m full. it's bonds or money pledged, but not any part of any unused assessment that may be in the bank depositors guaranty fund; provided, however. that shonld 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 it's business shall have de- posted with the State treasurer bonds ar 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 or be allowed 10 deposit in lieu thereof an equal amount in cash, which may in turn be withdrawn upon the substitution of bonds acceptable under this act.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 eXantnation of a guaranteed bank il snail be found to be violating any of the provisions of this aet. 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 this time such provisions have not been complied with, the bank commissioner shall cancel it's certificate of member snip in the bank depositors' guaranty fund as herein provided and forfeit it's bonds deposited with the State treasurer Tor the benefit of the bank depositors guaranty fund.
 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 used Tor no other purpose. The State treasurer shall cause the coupons upon the said bonds to be cut thirty days be- lore maturity and sent or delivered to the bank which deposited them; pro Vlded always, that said bank shall have paid all assessments in full to date.
 Sec. 13. Any national bank in this State may voluntarily avail it's deposi- tors of the protection of the 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. A. It shall be unlawful for any bank guaranteed under the provisions or this act to receive deposits con tlnuouSly for six months in excess of elsht times its paid-up capital and surplus, and the violation of this sec ton by any bank shall cancel it's right to participate in the benefits of tho bank depositors' guaranty fund, and work forfeiture of it's bonds deposited with the State treasurer for the benefit of such fund.
 Sec. 15. For the purpose of carrying into enect the provisions of this act rorms and make requisition on the State printer for the necessary blanks and all reports received by the bank commis- sioner shall be preserved by him in his onice The State treasurer is authorized to provide forms and make reQuisition blanks and record books for his office
 Sec. lS. All acts and parts of acts fin conflict with this act are hereby re- pealed Tn so far as they so conflict but no provision of any banking law or other statute of this State shall p. repealed. except in so far as necessary to permit the unrestricted operation of this act as applied to banks partici- patfng in the privileges of this act
 Sec. IT. This act shall take effect and be in force from and after Jannary I 1915. -
 Filed in the office of the Secretary of State on the 18th day of May. 1914.
 Each elector may vote for or against the above Act
 Witness my official signature this 2sth day of May. 1914
 EARLE W. HODGES.
 NSe2I.) Secretary of State