The Nevada County picayune., 1914-06-05
euoJect the offender to . fine of five nnndred dollars. and any bank display

subject the offender to fine of five hundred dollars. and any bank display ing card or advertisement to the eff rect that its deposits are guaranteed by .ne Dank depositors' guaranty fund or the State of Arkansas when not author i1ed so to do under the provisions ot this act shall be guilty of a misdt meanor and upon conviction thereoh ! shau be subject to fine of not loss than five hundred dollars, nor more than one thousand dollars.
 Sec. g. solvent bank. upon retirin" rom business and liquidating it's al fa1rs shall be entitled to receive back rom the State treasurer, after all the depositors in such bank have been pal Tn 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 should such bank be turning over its business to another bank. it shall not receive back it's bonds. or money de posted in lieu thereof, until the banl; receiving 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. iu the discretion of the bank commission CT to exchange their bonds for others acceptable under this act or be allowe' to deposit in lieu thereof an equal amount in cash, which may in turn b. withdrawn upon the substitution of bonds acceptable under this act.
 Sec; II: If at any regular or specia examination of a guaranteed bank il shall be found to he violating any of the visions 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 this tune such provisions have not been complied with the bank commissioncl 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 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 depositors' guaranty fund, and shall be used for no other purpose The Stata treasurer shall cause the coupons upon the said bonds to be cut thirty days be 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 its 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 pahhS' trust companies ana SANlnRS banks.
 Sec. 14. It shall be unlawful for any bank guaranteed under the provisions Of this act to receive deposits con tinuously for six months in excess of elght times its paid-up capital aud surplus, and the violation of this sec ton by any bank shall cancel its 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. Is. For the purpose of carrying into enect the provisions of this act the bank commissioner shall provide forms 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 office. The State treasurer is authorized to 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 tr 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 D- construed to be amended modified pr 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. r. This act shall take effect and 1915.
 Filed in the office of the Secretary of State on the 18th day of May 19I4
 Each elector may vote for or against the above Act.
 Witness my official signature this 29th day of May. 1914
 EARLE W. HODGES,
 tSeAl.) Secretary of State