Pocahontas star herald., 1914-07-10

suhisct ths offender 10 q FIN. ef five
hundred dollars. and any hank dispiay-
lhE q card or advertisement 10 tie ef-
Ieet that ita deposits are guaranteed hy
,h nsnh deposltors' guaranty funt OF
lEed 50 20 do under the provisions 0f
thls act shah be guilty of a misde-
meanor, and upon conviction thereof
shall be subject 10 fine OF not less
than five hundred dollars. nor more than
ono thousand dollars
Sec. y solvent hank. upon retiring
from business and llquidating tts ar
ialfs, shall be entitled 10 receive back
from the STATE treasurer. after all the
debasitors IN such bank have been paid
na, !" 'g,S a,... ',s nongs or money pledged, but
nnt any part OF any unused assessment
that may he IN the hank deposltora'
suhtehtN fund; provided. however. that
should such bank be turning over It's
p.sli,,a pualIsss 70 another bank. Il shall not
reeve back It's bonds. or money de-
pnslted IN lieu thereof. untn the bank
receiving It's business shnU have de-
posted with the State treasurer bonds
ar money IN lieu thereof according 20
the requirements Of this act
Sec. 10. Banks may be permittsd. IN
the discretion OF the bank commission
eF 20 exchange their bonds for others
acceptable under this act. OF be allowNt
10 deposit In lieu thereof an equal
smpI9s si,has. in IN cash, which may n turn be
bonds acceptable under this act
Sec, II. II az any regular or special
examination OF guaranteed hank ~
shall De FOUND 90 be violating any OF
the provisions OF this act the hank com
missioner shall notify the bank. and the
bank may be given thirty days In which
70 comply with the provisions OF this
act; and II at the expiration Of this
time such provisions have not been
complied with. the hank commissions
shan cancel its certificate OF member
ship In the bank depositors' guaranty
fund as herein provided and forfeit it
bonds deposited with the State treasurer
Ior the benefit OF the bank depositors
Sec, - All bonds. and moneys de.
posted In lieu OF bonds. placed An the
state treasury under this act shall be
kept In said treasury separate from all
other bonds and moneys. and 20 the
credit or the bond account OF the banG
deposltors guaranty fund. and shall be
used Tor no other purpose The State
treasurer shall cause the coupons upon
The said bonds 20 be cut thirty days be-
fore maturity and sent or delivered 20
the bank which deposited them: pro-
Nided always, that said bank shall have
paid al assessments In FUN to date.
Sec, u. Any national bank In this
State may voluntarily avail its deponi-
tors or the protection Of the depositors'
guaranty fund upon the same terms
payments conditions. and In the same
manner as herein provided for stat"
banks. trust companies and savings
banks
Sec. it II shall be unlawful for any
bank guaranteed under the provisions
% this act to receive deposits con
tlnuously for six months IN excess ~
eight times It's paid-up capital and
surplus. and the violation OF this SEE
tion by any bank shall cancel Its right
20 participate IN the benefits OF the
bank depositors' guaranty fund and
work a forfeiture OF its bonds deposited
with the state treasurer for the benefit
OF such fund.
Sec. 10. For the purpose OF carrying
into encct the provisions OF this act
the bank commissioner shall provide
forms and make reauisition on the State
printer FOR the necessary blanks. and all
reports received by the bank commits
sioner shall be preserved by him In his
of1ice. The State treasurer II authorized
- provide forms and make requisition
on the State printer for the necessary
blanks and record books for his Office
Sec. is. All acts and parts OF acts In
conflict with this act are hereby re-
but no provision OF any banking law
or other statute OF this State shall o.
construed TO be amended. modified or
repealed. except IN so far as necessary
20 permit the unrestricted operation OF
this act as applied TO banks partici-
pating In the privileges OF this act
Sec. II, This act shall take effect and
1918.
Filed In the office OF the SECRETARY OF
state on the 18th day OF May. 1914.
Each eiector may vote for or against
Witness my official signature this
29th day OF May 1914.
EARLE w. HODGES.
tseaL) Secretary OF State.