The Forrest City times., 1914-07-03

suoJsct tho offender to fine of five nunorod dollars. and any bank display Ihs card or advertisement to the eff ts ssc' tnat its deposits are guaranteed by .h oaiik oepositors' guaranty fund or tne state Of Arkansas when not author . Meo so to do under the provisions of tnls act shall be guilty of misde meanor. and upon conviction thereof shali De subject to 8 fine of not less than Tive hundred dollars nor more than ono thousand dollars
 Sec 9. solvent bank. upon retiring from business and liquidating its af- lalrs' shall be entitled to receive back Iroh the State treasurer after all the uepositors in such bank have been paid m tull, it's bonds or money pledged. but .lot t any part of any unused assessment that may be in the bank depositors' guaranty fund, provided, however. that snouIo such bank be turning over it's pusiness to another bank it shall not receive back it's bonds, or money de posltea posted, In lieu thereof. until the bank receNlhg It's 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 er 10 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 which may in turn be withdrawn upon the substitution Of
 
 sec: II: If at any regular or special eNamlnation of guaranteed bank it snail be found to be violating any of the provisions of this act the bank com missioner shall notify the bank, and the oank may be given thirty days in which to comply with the provisions of this act; and if at the expiration of this tune such provisions have not been complied with. the bank commissioner snail cancel it's certificate of member ssnlp Tn the bank depostors' guaranty iund as herein provided and forfeit it's ponds deposited with the State treasurer for the benefit of the bank depositors guaranty fund
 Sec. 12 All bonds, and moneys de- posited 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 oeposltors guaranty fund and shall be used for no other purpose The State treasurer shall cause the coupons upon me said bonds to be cut thirty days be- lore maturity and sent or delivered to .he oank which deposited them; pro Vlded always, that said bank shall have paid all assessments ir full to date.
 Sec. l3 Any national bank in this state may voluntarily avail its deposi- LOTS oI 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
 Sec. IA It shall be unlawful for any bank guaranteed under the provisions or this act to receive deposits con tlhuouSlY for six months in excess of elght times it's paid-up capital and surplus, and the violation of this sec tion by any bank shall cancel it's right to 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 carving lnto eHect the provisions of this act Ihe bank commissioner shall provide forms and make acquisition on the State printer for the necessary blanks and all reports received by the bank commits sloner shall be preserved by him in his ofice The State treasurer is authorized 10 provide forms and make requisition on the State printer for the necessary blanks and record books for his office
 Sec. l6 All acts and parts of acts in conflict with this act are hereby re. pealed in so far as they so conflict. but no provision of any banking law or other statute of this State shall DO repeated: except in so far as necessary to permit the unrestricted operation of this act as applied to banks partici- pating in the privileges of this act
 Sec. I1 This act shall take effect and 1915 ''
 Filed in the office of the Secretary of state on the 12th day of May. 1914.
 Each elector may vote for or against the above Act
 Witness my official signature thts 2sth day of May. 1914.
 EARLE w. HODGES. N0eA') Secretary of State.