The Forrest City times., 1914-06-05

suoJesS the offender to . fine of five hnndred dollars, and any bank display ing card or advertisement to the CT Iect that its deposits are guaranteed py tne Dank depositors guaranty 1uhu o' ths State of Arkansas when not author ised so to do under the provisions ot th1s act shall be guilty of mlsoe. , meanor, and upon conviction theTeo. snail be subject to a fine of not JOSS than five hundred dollars nor more than one thousand dollars.
 Sec. g. A solvent bank. upon retiring rom business and liquidating us ar Ialrs. shall be entitled to receive oack rom the State treasurer after all tne deposltors in such bank have been pali m rull, its bonds or money pledged put not any part of any unused assessment | mat may be in the bank deposltors guaranty fund.- provided, however. that should such bank be turning over its ouslness to another bank, 1t shall not receive back its bonds. or money de posted in lieu thereof. until the pahk receiving its business shall have de- posted with the State treasurer bonds or money in lieu thereof. according to the requirements of this act.
 Sec, To- 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 70 deposit in lieu thereof an equal amount in cash which may in turn be ,wlthdrawn upon the substitution or "pIIuS dtctptdDle unuer thlS act Sec II. If at any regular or specia examination of guaranteed bank II snail be found to be violating any Of the provisions 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 tlme such provisions have not been compiled with, the bank commissioners snail cancel it's certificate of member snip in the bank depositors' guaranty fund as herein provided and forfeit its ponds deposited with the State treasurer 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 Urea Sury separate from all other bonds and moneys. and to the credit Of the bond account of the bank uePosltors guaranty fund, and shall be used Tor no other purpose. The Stat- treasurer shall cause the coupons upon the said bonds to be cut thirty days be rore maturity and sent or delivered to tne bank which deposited them; pro Vlded aiways, that said bank shall have pa1d all assessments in full to date
 Sec. l3. Any national bank in thts state may voluntarily avail it's deposi- TOTS or the protection of the depositors guaranty fund upon the same terms manner as herein provided for State banks trust companies and savings banks
 See. |. It shall be unlawful for any hahk guaranteed under the provisions ot this act to receive deposits con- tihuousi% for six months in excess of elsht times it's paid-up capital and surplus and the violation of this SC tloh ny any bank shall cancel it's right 10 partlcipate in the benefits of the sank depositors guaranty fund and work forfeiture of it's bonds deposit.,i f. with the State treasurer for the bevetit of such fund
 See. 5. For the purpose of carrvir. lnto eHect the provisions of this act the bank commissioner shall provide forms and make requisitton on the State printer for the necessary blanks. and ali reports received by the bank commits sloner shall he preserved by him in his oHlce The State treasurer is authorized 10 pfoNlde forms and make requisitior on the State printer for the necessary blanks and record books for his office
 Sec l6. All acts and parts of acts il, coaIllct with this act are hereby re pealed Tn so far as they so conflict but no provision of any banking lav. or other statute of this State shall no iepealtd except in so far as necesSar'- 10 permit the unrestricted operation of this act as applied to banks partici- patlng in the privileges of this act
 sec. ! ' This act shall take effect aud 1915 ''N"'N ''
 Filed in the office of the Secretary of
 hach elector may vote for or against the above Act
 Witness my official sienatur. tht, 2eth day of May 1914
 EARLE W HODGES
 Secretary of State