The Dermott news., 1914-07-02
| hnndrA0 dAllara and ans hn nh dianIa

| subject tie offender to q tine or nv,
| hundred dollars. and any bank display
ing card or advertisement to the et
tect that its deposits arc guaranteed b,
| the bank deposltors' guaranty fund ol
| the state of Arkansas when not author
lzed so to do under the provisions Of
this act shall be guilty OF "A mis'e
meanor, and upon conviction Thereof
| shaIl be subject to a fine OF not less
| than five hundred dollars. nor more thar
| one thousand dollars.
Sec. 9. A solvent bank unon retirins
| from business and liquidatinG its af
| fairs, shall be entitled to receive back
| from the State treasurer, after all the
! depositors In such bank have been PAL
| in full. its bonds or money pledged. but
| n"t any part OF any unused asseSsmen n,
| that may he in the bank depnsitors
| guaranty fund; provided however. that
| should such bank he turning over lts
| business to another hank. 1t shall not
| receive back its bonds. or money de
| posted in lieu thereof. until the bank
! receiving its business shall have de-
posted win the State treasurer hondS
or money IN lieu thereof. according to
the requirements Of this act
Sec 10. Banks may he permitted. In
the discreet ion of the bank commission
er, 10 exchange their bonds for others
accountable under this act or he ,llowec
TO deposit in lieu thereof an equal
amount In cash. which may In turn be
nithdrawn upon the substitution of
bonds acceptable undor this act.
Sec II. II at any regular or special
examination of a guaranteed bank II
shall be found to be violating any of
the prov isions OF this act the bank corn
missioner shall notify the bank and the
bank may be given thirty DAYS I'm which
To comply with the provisions OF this
act: aud II Mt the expiration OF thts
time such provisions have not been
complied with. the bank commissioner
snail cancel ite certificate of member
ship In the bank depoSitors' guaranty
fund as herein provided and forfeit its
bonds deposited with the State treasurer
Tor the benefit of the bank depositors
guaranty fund
Sec. u. All bonds and moneys Dc.
rositrd IN lieu Of bonds placed in the
state treasury under this act shall be
kent in said treasury separate from al
other bonds and moneys and to the
credit Of the bond account Of the hank
depoS tors guaranty fund. and shall he
used for no other purpose The STAT
treasurer stall cause the coupons upon
the said bonds to be cut thirty days he
fore ma uritv and sent or delivered to
tho bank which deposited there: pro
Nlted always that said bank shall have
tdtd All assessments in fun to late
Soc. - Any national bank n th's
state may voluntarily avail lis dcuoSi-
tors OF the protection OF tho depoSfto'e
guaranty fund upon the Same teruls.
payments conditions. and in the sane
manner as herein provided for state
hanks. trust companies and savings
banks.
Sec II It shall he unlawful for any
bank guaranteed under the provisions
Of this act to receive deposits con
t'nuouslY for six months I'm evCess ~
eifht times It's paid-up capital and
surplus. and the violation nf this -,
ton hN any bank snail cancel its right
to participate in the benefits 81 the
bank depositors guaranty fund AMI
work "A forfeiture OF It's bonds depositni
With The state treasurer for the benefit
OF such fund
Sec s For the purpose OF carrying
INTO erect the provisions OF this act
IN" bank commissioner shall proVjd,
forms and make reGnisItion on tho state
printer for the necessary blanks and all
reports received by the bank commits
sioner shall be preserved by him In Lis
Once The stat trea surer = authortze
TO provide forms and make rrqusition
on the state printer for tho necessary
blanks and record books for his Office
- 10, All a"ta and rarts OF ats II
cohfIlrf with this act are hereby re
pealed in so FAR as they 50 conflict
nut no provision % any banking law
or other statute e. this State shall 10
construed to be amended modified ~
repea't / except IA so far Hs aecessa-.,
10 permit tho unrestricted operattop NJ
iH's act as applet TO banks pa~ttc!-
iattte IN the privileges of this act
Sc" This at shall tale eject ana
hs In force from and utter January /.
Filed n tho OFFICE OF IN. Secretary Of
stat" on the lsth day Of May. 1874
zach "i'ctor may vote for or against
tho above Act
Witness my official signature this
18th day OF May 1910
EARLE W HODGES.
'Se~4 Secretary OF state.