Pocahontas star herald., 1914-06-05


sahieet the offender 10 a fire n five
,uhated dollars, aud any hank display
lhs . card OF advertisement t. the ef
iiect that les deposits are guaranteed W
ne nshh depoHitors' guaranty FUND Or
me STATE or Arkansas when not authot ,
So 80 70 do under the provisions OF
WI @alls SCI shall be guilty of a misdt !.
shsi, hsah't ana unon conviction thereof
,, s,aai' ne subject 90 fine OF not lsss
thah rive hundred dollars. nor more than
one thousand dollars
sec ,, solvent bank upon retiring
Iem business and liquidating Its at
falls shail be entitled % receive back
toiN tne state treasurer after all tue
nspse5,'nfs IN such bank have been paid
~ iull ls bonds or money pledged, but
not any part of any unused assessment
tnht NAV he In the bank depasltorR'
kuatahtN fundi provided. however that
sno,1d such hank be turning over us
pusliiless 70 another hank. IL shall MT
receive back its bonds. or money de
poslted IN lieu thereof until the hank
IeeslNlng It's business shall have de-
pohied with the State treasurer bonds
or money In lieu thereof according TO
tue requirements OF this act
Sec 10 Banks may be permitted Ia
the discretion or the bank commission
er, 20 exchange their bonds for Others
aeeepthble under this act. or be allowed
70 deposit In lieu thereof an equal
amount In cash. which may In turn be
Nlmdfawn upon the substitution OF
ponds acceptable under this act
Sc, ~ if AZ any regular or special
examination Of guaranteed hank "
shal be found 20 he violating any n
the provisions OF this act the hank com
missioner shall notify the bank. and the
bank may be given thirty DAYS In which
70 comply with the provisions OF this
act; aud N at the expiration OF this
TINE such provisions have not been
complied with, the bank commissioner
shah cancel Its certificate OF member
snip In the bank depositors' guaranty
iund as herein provided and forfeit it,
bonds deposited with the state treasurer
Tor the benefit OF the bank deposltors
guarantv fund
Sec, IL. All bonds. and moneys de-
posted In lieu OF bonds placed In the
Kept In said treasury separate from all
Other bonds and moneys. and to the
credit Of the bond account of the bank
depesltors guaranty fund and shall be
used Tor no other purpose. The State
treasurer shall cause the coupons upon
the said bonds 20 be cut thirty days be.
tofe maturity and sent or delivered to
the bank which deposited them pro-
Nided always, that said bank shall have
pald all assessments In fun to date.
See lS' Any national bank In this
state may voluntarily avail its deposi-
tors OF the protection OF the depositofs
guaranty fund upon the same terms
payments, conditions. and In the sante
manner as herein provided FOR State
banks. trust companies and savings
Sec. IL. II shall be unlawful for any
bank guaranteed under the provisions
OF this act TO receive deposits CON
tinuously for six months In excess OF
eight times Its pald-up capital and
surplus. and the violation OF this set
ton by any bank shall cancel its right
10 participate IN the benefits Of the
bank depositors' guaranty fund. and
work forfeiture OF its bonds deposited
with the state treasurer for the benefit
OF such fund.
Sec. Is. For the purpose OF carrying
into effect the provisions OF this act
the bank commissioner shall provide
forms and make reduisition ON the State
printer for the necessary blanks. and all
reports received by the bank commia-
sionsr shall be preserved by him in his
office. The State treasurer II authorised
10 provide forms and make regulation
on the State printer for the necessary
blanks and record books for his ONCE.
Sec ls. Al acts aud 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 Ds
construed TO be amended. modified or
repealed. except In 80 far as necessary
10 permit the unrestricted operation Or
this act AS applied 10 banks particl-
pating IN the privileges OF this act
Sec. u. This act shall take effect aud
be IN force from and after January l..
1918
Filled In the office of the Secretary OF
stale on th, 9Th day of May. 1914
Each elector may vote FOR or against
the above Act
Witness my official signature this
29th day OF May. 1914.
EARLE W HODGES,
tSedLl Secretary Of state.