Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1916-10-21

al bank tha, hrs icy. e-....--7d - a ..sate
bank as provided herein, snail heiore
enga ging ia business under tee pfoN.s'uhS
OF this act set apart anu crect 10 me
depos!tors' guaranty fund such an amount
as will place them ON an equal ba.ls IN
such respect, with other STATE oanks mere
tofo-e admitted, computed on the aver
aged daily deposits of such bank curing
the prior calenGar year .
Whenever by act OF congress OF by deci-
zion of federal court. or departmental
construction OF the national banking act,
no tional banking aGeoclatlo"s iHeatcu ana
doing business within this state are per
rnittcd to avail their CeNot-tols pt the
protection of the depositogs guaranty
fund. established by the laW oA triS state
for the repayment OF deposits IN closed
banks, ard such association, aiter eNaml-
nation at its expense by the plbhc exam,
iner upol approval as TO IT'S iinarcial
condition, may participate IN tAc assets
and benefits Of the depo' itofs guaranty
fund upon terms and conditions ~ mar
mony with the bani.'ng law Of this state
20 be fixed by the said !'epositors Guar
auty Fund Commission provided, lh2t IN
the event national banking associations
shall be required by federal enactment
to pay assessment 10 any depositors
guaranty fund Of the federal government,
and thereby the depositors in such asso-
ola tiUns in this state shall be guaranteed
bv virtue of federal laws, that the asso-
Citations having aValled themselves OF the
be pedts OF this act may withdraw there
from and have returned ~ them ninety
per cent OF the unused portion Of All as
sessments levied upon and paid r such
associations.
Sec rs. Unappropriated Assessments
Refllnded-Wheu-I any bank organized
under the laws of this state, having paid
any assessment or assessments to the
depositors' guaranty fund, shall liquidate
and go out OF business, or shall desire to
organize national bank and withdraw
| from the protection Of the depositors'
guaranty fund for It's depositors, the por-
, tiDn Of such assessment or assessments
which shall not have been used under
the provisions Of tnm act shah be refund
Ell 80 any such bank by the Depositors'
Guaranty Fund Commission. Provided,
that no such bank shall be released from
its proper proportion OF all outstanding
certificates of indcbtoGncsH or the depOs
itors' guaranty fund, issued NJ tho depos
it0rs Of failed banks under tTa provisions
81 this act, nor until it saal have re-
ceived perndssion In writing SO 70 do
from the public examiner Of this state
after an examination oil it's condition
See 26 Acts and Parts ci Acts ke-
pcaitd-For The purposes Oh preventing
conflict o. statutes tic following aets and
parts Of acts are repealed. Chaptcr l9
Of the Session Laws OF lae2 Chapter -
OF the Session Laws of 1906. chapter 15
or the Session Laws Of 1907, Chapter 222
Of the Session Laws Of 1902, Chapter 299
OF the Session Laws of 1903 Chapter 256
OF the Session Laws a 1871 and chapter
lbS OF the Session Laws Of 1913, and any
ana an other acts and parts ~ acts in
conflict herewith whether enacted by tho
legislature or through the initiative and
referendum
Approved March 18th. 1915