Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1916-10-28

( fcnd Of the state The public examiner
/ shall be chairman of said commission
[ Said commission shall have the super
/ vision and control Of the Depositors'
! Guaranty Fund and shall have he power
| 70 adopt all necessary rules and regula-
| tiOns, not inconsistent with the law, for
/ the management and admin stration of
/ said fund If vacancies shall gt any time
! occur In said commission. the governor
| hall fill the same by appointment as here
/ matter provided.
Sec 9 Public Examiner Deputy Pub
I lie Examiner Attorney, Examiners. Spe-
/ cal Examiners, Examiners I'm Charge,
| Clerks Appointments-Co Compensation -
/ Expenses The pubic examiner shall
/ be appointed by the Governor by and with
] The advice and consent OF the Senate and
/ shall hold office for the term OF four
/ years and until his successor shalt have
! been appointed and qualified, unless soon
/ or removed by the governor for good
cause. The public examiner may. by and
J with the consent and approval Of the gov
! ernor, appoint a deputy, and an attorney
! to assist him in the discharge of the
/ duties imposed by the provisions Of this
! act and he may revoke such appointments
at pleasure, providing that no person
| shall be eligible for the office Of public
| examiner. or deputy, without first having
| had at least three years 0ctual practical
experience in the general banking bus-
/ ness or served for a like period In the
banking department Of this or some other
state.
Such deputy shall possess all the pow
! ers, ard perform the duties attached TO
/ the office OF the public examiner during
a vacancy in such office and during the
I absence or inability of his principal
Such attorney shall be q regularly adj
/ mtted practitioner at law before the bar
/ Of the state He shall render u the pub
! lie examiner deputy public examiner. eX-
| charge, members of the Depositors'
/ Guaranty Fund Commission, and 10 all
| employees OF the department. legal advice
on all questions arising out Of the per-
! formance of their several duties as de-
fined in this act or prescribed by the pub
lie examiner and shall, under the
| and attorney general, have charge
Of any and all litigation in any
manner connected with the Department Of
! Banking and Finance or any OF the Of
] ficers or employees thereof as such. He
| shall also under the direction Of the pub
| lie examiner, have supervision OF any
! and all actions commenced by the public
examiner or that may be brought against
the public examiner in connection with
/ the liquidation OF the assets of any in
| solvent bank or trust company in his
possession; but nothing herein contained
! shall prevent the public examiner from
! employing other counsel to take charge
OF or assist In the preparation and trial OF
! cases in connection with the liquidation
/ Of the assets of any insolvent institution
| The public examiner may also employ
from time to time with the consent and
! approval Of the governor such eXamin-
ers, special examiners, examiners in
/ charge, and clerks as he shah deem
necessary TO assist him, his deputy and
! his attorney In the discharge of the sew
eral duties imposed upon them by this
act.
Tne salary Of the public examiner shall
! be thirty five hundred dollars per annum
\ the salary Of the deputy shall be twenty
\ four hundred dollars per annum; the sal
! airy OF the attorney shall he three thou
| sand dollars per annum. The salary OF
examiners shah be not to exceed two
! thousand dollars per annum, and the sal
airy o. special examiners shah be not TO
/ exceed fifteen hundred dollars per an
/ mum, each Of which shall be fixed by the
/ public examiner The salary Of the ex-
| aminers in charge shall be fixed by the
public examiner as hereinafter provided.
4 and the salary OF such clerks as may be
! employed shall be at such rate per an
/ mum as the public examiner shall decide,
not, however, TO exceed thirteen hundred
/ ffty dollars >for one, and one thousand
dollars for any other Provided that no
public examiner. his deputy. attorney or
/ any of his examiners, special examiners,
/ or examiners in charge, shall be q stock
/ hoider or IN any manner interested in
I any bank or trust company The salaries
/ Of the public examiner, deputy, attorney.
/ examiners, special examiners and clerks
shall be paid monthly by the state out
( Of The General Fund OF he state except
/ the salaries Of clerks which shall be paid
/ from the public examiners Contingent
! Fund upon vouchers countersigned by the
state auditor. Vouchers for the deputy's,
attorney s. examiners, special eXamin-
| ers', and clerks salaries must first be
! approved by the public examiner
All actual and necessary expenses of
| said public examiner. deputy, attorney,
| examiners, special examiners on clerks.
! incurred in the discharge of their duties,
/ shall be paid by the state and shall be
! fully itemized upon proper vouchers and
certified to the state auditor. II allowed,
| the state auditor shall issue his warrant
and the State Treasurer shall pay the
amount Of such expenses out of the public
examiners Contingent Fund.
within fifteen days from the notice
| OF tnelT APPOINTMENT reSDectlNelY. the
public examiner, deputy, attorney, ex-
aminers and. special examiners shall take
| and subscribe the oath of office pre-
! scribed by the constitution, and each shall
| give TO the people of the state a surety
| company bond, to be approved by the
governor. conditioned upon the faithful
/ discharge of the duties of their respective
/ offices, in the following sums, to-wit:
! The public examiner, twenty-five thou
sand dollars; the deputy public examiner,
/ twenty-five thousand dollars; the attorney,
/ ten thousand dollars; the examiners, ten
! thousand dollars; and special examiners.
! five thousand dollars; the premiums
aminer's Contingent Fund Said oaths OF
office and bonds to be filed with the sec
retary Of state
Sec. (. Seal--The public examiner
shall have a seal of the office containing
the wogds Public Examiner of South
Dakota IN the form of a circle, and the
word Seal within the circle.
Sec. 3 Powers Conferred on the Pub
/ lie Examiner ] 1t shall be the duty of
the public examiner, and he shall have
he power by himself, his deputy. or by any
examiner he may appoint for that pur-
pose, to examine at least twice in each
year, the cash, bills, collateral. securities,
books of account, condition, and affairs of
each bank and trust company doing busf-
ness IN this state, except national banks,
and shall ascertain whether such bank
or trust company transacts its business
at the place designated in the articles OF
| incorporation, and whether its business IS
conducted in the manner prescribed by
law
For such purposes, he may issue sub
poenas requiring the attendance ct such
time and place as he may designate, of
any witnesses he may deem necessary 10
a proper investigation of the condition of
such banks or trust companies; administer
oaths and examine such witnesses under
oath, touching the affairs and business of
sucn institution; and may require for his
I inspection the production OF The original
or copy of all mortgages, collateral
pledges, and evidence of the recording or
filing thereof as the case NAV be In
case or any refusal to obey a subpoena
issued in accordance with the above pro-
visions, such refusal shall at once be re-
ported TO the circuit court of the circuit
in which the institution is located and
the said court shall enforce obedience 70
such subpoena in the manner provided by
/ law for enforcing obedience to the sub
pOenaS of said court a witness fee Of
two dollars per day and five cents per
mile for each mile actually and neCpssa-
rily travelled, shall be paid to each wit
Z lltSS anu SutH ice anu ifl4ledBe Sn3il ne "a
proper charge against the assets OF such
institution. payable thorefrom Immediate
ly, upon the order of the examiner.
The public examiner shall examine or
cause to be examined. any bank or trust
company, when requested so to do by The
board of directors of such bank or trust
company and when an examination is
made upon such request. in addition to
the regular fee prescribed, such bank or
trust company shall pay all incidental
expenses in connection herewith
Sec 6 Fees for Examination Each
and every bank and trust company shall
pay fee in the amount Of one one-hun-
dredth part OF one per cent of the gross
amount OF the assets OF such bank or
trust company. for each and every regular
examination. Provided, that the examina-
tion fee of any bank trust company
shall not be less than ten dollars and