The log cabin Democrat., 1914-07-16

,S. ar,c.r in charge of the bank shai have realized upon the asse ,.h U,y bank and exhausted the douple ha"td td of it's stockholders. and sha,i h,.,da,ds to in. deposftors he shall cerul. Uf balances due on Kusranteed uePotar any exist) to the bank coninIsr o, who shall then. upon ms sPPi.r tbo such csrtificatfon, draw checks upol, 'io State treasurer to be conterslehe. .
 the auditor Of State. payable out os ar u bank depositors guaranty fuhu,,,o fuhu, II, due of each depositor for the oaIaHse ,tar on such proof of i'm as hefeluHl
 provided If at any time the ava..,'V ava,,t,. funds in the bank deDositors sual ar, fund shall not he sufficient to p"h guaranteed deposits Of any falle9 a for the six assessments hereln PtoNIo..,,,,te having been made. the bank comm. sioner shall pay depositnrs pro rata Il, the remainder shall he paid when uI next assessment is available; Pr"N ,,, however. that whenever the pa missioner shall have paid any dlNlnen. to the depositors of any failed hahk ou' of the bank depositors guaranty luu,. then all claims and rights or actloI. ~. such depositors so paid small rtNtlt si the bank commissioner for the oenpl of said bank depositors' guaranty iuh'i' until said fund shall have been fullN re imbursed for payments made on accouil' of such failed bank, with interest thef' on at four per cent per annum
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 the amount of said assessment shail ne added 10 the assessment of any haHN not remitting as aforesaid with1n tnlI'N days after receipt of notice or 'sucil ~ sessment from the bank eommlssi"tit, and if any bank which shall have heerl assessed and notified as aforesaid Sh9h fail to remit the amount of said assess
 pent as herein provided. a suflcleht amount of it's bonds fosether with t1r unexpired coupons) shall be iUmediateiN rold by the bank commissioner at pupiic sale and the proceeds used to pay said essessment Any balance remaining from the proceeds of such sale afte, the pavrnent of such assessment shail remain to the credit of the bank in the aepositors' guaranty fund. The satt balance. together yfth the rema,nHer e
 the bonds Cor cash fin lieu thereot : shall he forfeited to the bank depositors guaranty fund if the hank does not within sixty days fro~1 dnfau1t in paw ment of such assessment remit the and penalty to Hate and restore the amount Of it's bonds. or money pledg- ed as evidercr of good faith. pon the banks failure to remit it's assess n1ertS according to the terms Of thls act tho bank com issoner shall i'm .nedfaterv exar,fne such hank. and If 't Is found in his Judgment to be Tn solvent. he shall take charge or and lfruidate said bank according to law 1r said bank be found solvent, the hank coun1fssioner shall cancel it's certificate as g1iarsnteed bank and cause to D" displayed in it's banking rooms. Tn consrfcious place. continuously for @IN months card not smaller than twenty inches by thirty inches. and in large plain type. reading as follows: This bank has with drawn from the bank de positors' guaranty fund and the guaranty nf it's deoosits will cease and after
 " The date on this card shall be a date six months after the first posting of such card Any bank eTecting to withdraw from the bank depositors guaranty fund may do 70 by giving mo- tice to the bank comm tssioner and dis playing 8 card aforesaid and at the expiration of the six months as afore- said may receive its bonds (provtde,l always that said hank shall have paid assessments in full to date) when tn" affairs of all failed banks Tn liquidation at the expiration of said six months shall have been closed up and the said bank shaii have paid It's assessments on
 Sec T. Deposits which do not bear interest and the following deposits only shall be guaranteed by this act: Time certificates not payable in less than six months from date and not extending for more than one year. bearing interest at not to exceed four per cent per an rum and on which interest shall cease at maturity, daily deposits not to exceed cent per annum. Deposits which arc primarily rediscounts or money bor- rowed by the bank. and all deposits otherwise secured. shall not be suaran- shall certify under oath to .he bank commissioner at the date of each called statement tho amount of money it has on deposit. not eligible to guaranty under sing such bank this amount shall bs deducted from it's total deposit. The guaranty as provided fer in this act shall not apply to banks oblisation to bills payable. nor to money borrowed temporarily from it's correspondents or others.
 Sec 2. Each bank guaranteed by this ast shall keep correct record of the rate of interest paid or agreed to be paid to each depositor. and shall mak. . statement thereof under oath to tho bank commissioner quarterly. If bank displays . card or in any manner adver- tises that its depositors are guaranteed such bank. if 1t pays agrees to pay either directly or indirectly. interest al any rate greater than four per cent per annum upon deposits of any kind, class or character. shall state upon or in the same card or advertisement that no de posits are guaranteed which bear q greater rate of interest per annum thar four per cent. and this portion of th< advertisement must be fin typs of tn. same size that Is used in stating that tho deposits in the bank are guaranteed No bank which pays intereat at a rat.
  on any form of deposit. or on any tim, certificate cashed before maturity, sh al be permitted to participate in the bene fits of this act; provided, however, tha' any existing contracts for higher te. of interest entered into before the pas sage of this act may be carried out un impaired and such existing contract, shall not disqualfy a bank to partici pate in the benefits of this act. Any managing officer of any bank guaranteed under this act, or any person acting 1T its behalf or for its benefit who shal thereafter pay or promise to pay any depositor either directly or indirectly any rate of interest in excess of or ii addition to the maximum rate of inter sst permitted by this act CT who shai
 with tn Esns 60 svads any of the pro visions of this act, pledge the tim, certificate or other obligation Of suc' bank as security for the personal oblt cation of himself or any other person shall be guilty of a misdemeanor pun ishable by a fine of not less than fiv hundred dollars nor more than fiv' thousand dollars, or by Imprisonment not exceeding one year, or by such rim and Imprisonment The display of an card or other advertisement tending t' cor9-a,r fba iTpDrtcgiCD that the deDOSlt