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

RELATING TO BANKING ANp
FINANCE

~ Ah+N+A+NN let
\ BILL Tor An ACT l.G itlcd An Actt
tuacuhE ana Stbmlf ft 20 Nole OF
the Electors Of the Stlle Proposed
Lazy, Emitted -An Aet reatne q state
hauking Boafd aId I)eln'us the f3W-
ers oad Duties; Crati1 a Sank De
positDra Guaranty ttui, Authorizing
the Levy Of essmcn a1ls- E1nS
I5eci,' 9I,ocH' o{io.9s lo[ '1e sttl2l ,,,oI oi
i5
aa.N.' lpiHs eHt 5ot NJ
- -. '-1'a' Ai't"i '~--5 NS
~ NJ ~. +, t,t.;, ,e 60
t, 'ie' ~ C.i,-''o - s,oi'a , ~ 80
% i' - ~ ~ "a go - ~ ~ .le uli t't'S'oi' -
t W Nt1tc od Soul" (@4oi,. ".H AltiVie
y. ~ ''''i, - ~ NiS ott tt.'..t ~ 81 a.,lN
orSS, " =, e't 1ult I'as zen i'.' ~ ~ ~
49, h '"'s r. ''', -
S, ~ i;iTSlols Vl a,"tV 'u Wy
.'i.iIillCl 'tilu Ni i-.iVNlSu l,'tl
- - 80 @ va - t-'%
II ht,,tNt'i 'liiu Subii5tteu 70 q VIZ 81
~ t-SSI"to "l We Siate ~ the 10y,
Iitt:.I .eiit:.I l-.ec,loH' - III op.t" ., Sdlu
ndFIls Deel rallil, ttt 20 'ie
ScIidte anu rouse o. Representatives y!
the Secretary of state
be ~ f-hhC.eu IN @ hy 5he LeBlhiatuFe VI
N'e o,"e ~ 1DCrtt LIN. ~. -,
sectloh J. Ihat the following Act pc
t aiiu We s"Ine ~ htieo{ efltct+d anu SUI
i.It,'u ~ "a NotT ol lHe etNS'uF9 "a ',ls
20, a. "a w huNt sciisl1l ~ ~ ' " pV
~ a, ~, ne IN lo' e'e,r ~ ~
~ ~ - SiS.'til' st'
i'5 ,i 'iu .'iu 6 - -
1oNers ana Dulles, AIe3ting I,3hh
th no, taIahls tl!u An,loIrAIrs
sti =, ~ VI ieil-9 5t5. 5ali5S. ~
Ti, toeh, i"fintns lol W ~ 49,, "
I5I t, AptlIt.iS .,'o5i'i
rrean4 Crscals tIarilinss pcsy,rI
Stsins Ctiliild's' Authoil@'hs h"c""iuS
lVt ,i SIiIhlhais, ~, 49,, c..
nc e,tt i-itO ISu ~ 'Hc icoPi' Oi IA" ''''e
% "oN'' D"Ho'a'
Section l. State Banking Board Gre
ated-There is hereby created state
banking board OF the state Qf south Da-
state treasurer and state auditor. which
oard snail have the power and II is
hereby made its duty. to carry out and
enforce the provisions OF this act The
| governor shall De eX-ofacio president OF
| said board. and the state treasurer shall
| be ex-officio treasurer OF said board ana
! me said treasurer shaii be held account
able under his official bond FOR all moneys
coming into his hands, belonging TO the
| depositors' guaranty fund hereinafter pro-
vided for The public examiner shall he
| ex-ofncio secretary OF said board and
| shall combine his dsties rs such with
| he duties required of him as pubic eN-
amner
Sec 2. Assessments Of Bank Stock to
Create Guaranty Fund-Therc is hereby
'evied an assessment against the capital
stock of each and c-crv bank or bank-
ng corporation. organized, existing and
conducting a banking business under the
avs OF the State OF South Dakota and
very bank hereafter organized or incor-
rorated, under the laws OF said state
during its continuance in business for
| the purpose of creating a deDosttors' guar
anty fund. such assessmenf shall be due
and PAYABLE without notice ono pnr CEN
tum Of tn average daily denosits Of every
such bank within thirty days after the
taking effect of this act. and two mills
on each dollar of such daily deposits at
the end OF each and every wear there
after The AVERAGE daily depoeifs Of each
nank during the preceding wear prior 10
the taking effect OF this act shall he used
as the basis for computing the arnount of
the first payment Of The lpVv hereby
made,
See g. Bank Cashier 70 Make Report
Credit Assessmenfs- Penalty for Fail
ure-Within thirty daVs after The taxi
ing effect of this nor the cashier or
other officer in charge Of each and
every bank organized and doing busi-
shall make a sworn report NJ the condi-
ton of such bank In the form now pre-
scribed hv law and shall irnr,ediatelv for
ward said report To the public exaininer
and shall forward a copv thereof ~ the
treasurer OF the State i,arkinr i7oard
said rerort shall he spnp,enenfod nv n
statement under oath showing the average
ceding Year. or for any shorter nerjo3
such bank may have been ORGANIZED and
doing business fhess than one wear Said
statement OF daily deposits shall not in
eiude funds Of the United States govern
ment otherwise secured nor public funds
secured under the provisions Of anv law
II mi. state aud the Deuosifors' C;uarantv
act shall not be liable for tile loss Of ami
such secured funds. through the failure Of
such bank Al the time of makInsr Such
report and statement the cashier or other
officer in charge Of any such bank shall