Pocahontas star herald., 1914-07-03

aunIset the offender 20 q fine OF five
hundred dollars, and any bank display
Ing card or advertisement 10 the ef-
ieet that It's deposits are guaranteed BY
the bank deposltors' guaranty FUND ot
the State OF Arkansas when not anthot-
iEed 10 70 do under the provisions OF
this act shall be guilty of a misdt-
lneanor' ana upon conviction thereof
shall be subject 20 a fine OF not less
than five hundred dollars. nor more than
ono thousand dollars
Sec. ?. A solvent bank. upon retiring
from business and liquidatinr its az
fairs. shall be entitled to receive back
from the state treasurer. after All tne
denosltofs in such bank have been paid
IN full. its handa or money pledeed but
not any part OF anv unused assessment
that may he IA the bank deposltora
guaranty fund; provided, however. that
should such bank be turning over its
business 20 another bank. II shall n't
receive back IL bonds. or money de-
posted In lieu thereof. until Atht bank
receiving Is business shall have de
posted with the state treasurer eonds,
the requirements or this act
Sec. 10. Banks may he permitted, IN
the discretion OF the bank commission
ef. 20 exchange their bonds Tor Others
acceptable under this act or be allowed
10 deposit In lieu thereof an equal
amount In cash, which may IN turn be
Withdrawn upon the substitution OF
bonds acceptable under this act
Sec. II, II az any regular or special
shall be found 10 be violating any OF
the provisions OF this act the bank com
missioner shall notify the bank aud the
bank may be given thirty days In which
20 comply with the provisions OF this
act. and II at the expiration % this
time such provisions have not been
complied with. the bank commissioner
shall cancel It's certificate OF member
ship IN the bank deposltors' guaranty
fund as herein provided and forfeit it,
bonds deposited with the state treasurer
for the benefit OF the bank depositors
guaranty fund
Sec. ie All bonds. and moneys de.
noslted In lieu OF bonds, placed IN tho
state treasury under this act shall BE-
kept In said treasury separate from all
other bonds and moneys. and 10 the
credit OF the bond account OF the bank
depositors' guaranty fund. and shall be
used FOR no other purpose The State
treasurer shall cause the coupons upon
the said bonds TO be cut thirty days be-
fore maturity and sent or delivered %
tie bank which deposited them; pro-
vidied elways that said bank shall have
paid all assessments In fun 60 date.
Sec rs, ANY national bank In this
State may voluntarily avail It's deposl-
tors or the protection or the denositors'
guaranty fund upon the same terms
payments, conditions. and In the same
manner as herein provided Tor State
banks. trust companies and savings
banks
Sec H. II shall be unlawful FOR any
hank guaranteed under the provisions
| OF this act 10 receive deposits con-
unuously FOR six months In excess of
eight times Its paid-up capital and
surplus, and the violation OF this sec
| ton by any bank shall cancel It's right
/ TO 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 effect the provisions OF this act
| the bank commissioner shall provide
| forms and make reQuisition on the State
/ reports received by the hank commia-
sioner shall be preserved by him IN his
/ Office. The State treasurer II authorized
/ 10 provide forms and make requisiti0n
on the state printer for the necessary
/ blanks and record books for his office.
Sec, Is. Al acts and parts OF acts ir
| 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 De
] construed to be amended modified or
( repealed. except In so far as necessary
/ TO permit the unrestricted operation OF
/ this act as applied to banks particl-
/ pating IN the privileges OF this act.
Sec. & This act shall take effect and
| 1915.
Filled in the office or the Secretary OF
state on the 18th day or May. 1914
! Each elector may vote for or against
Witness my official sigrsture this
s9th day OF May 1914
tsesll Secretary OF state.