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

examiner, shall receive no compensation
for their services, but they shall be paid
their actual and necessary expenses in
the same to be paid out OF the general
fund 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 shan have the power
TO adopt AL necessary rules and regula-
tions, not inconsistent with the law, for
the management and administration of
said fund If vacancies shall az any time
occur in said commission, the governor
hall fill the same by appointment as here
matter provided
Sec g. Public Examiner Deputy Pub
lie Examiner, Attorney, Examiners, Spe-
cial Examiners, Examiners in Charge,
Clerks, neutrality-suspicious.
Expenses The public 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 shall have
been appointed and qualified. unless soon
er removed by the governor for good
cause The public examiner may, by and
with the consent and approval OF the gov
ernor. appoint 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 al least three years actual practical
experience in the general banking busi-
ness or served for Ike period in the
banking department of this or some other
state.
Such deputy shall possess all the pow
ers, and perform the duties attached TO
the office of the public examiner during
a vacancy in such office and during the
absence or inability OF his principal
Such attorney shall be a regularly ad-
mltted practitioner at law before the bar
e he TOT IL a 70
lie examiner, deputy public examiner, eX-
aminers, special examiners, examiners in
charge, members of the Depositors
Guaranty Fund Commission, and to ali
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
lic examiner and shall, under the
direction OF the puolc examiner
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
fcers or employees thereof as such. He
shall also, under the direction Of the pub
lie examiner have supervision OF any
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
cases in connection with the liquidat ton
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 eXam1n-
ers, speciaI examiners, examiners in
charge, and clerks as he shah deem
necessary to assist him, his deputy ano
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 annuyn;
the salary of the deputy shall be twenty
four hundred dollars per annum, the sal
AIRY of the attorney shall be three thou
sand dollars per anuum The salary of
examiners shall be not to exceed two
thousand dollars per annum, and the sal
airy Of special examiners shall be not to
exceed fifteen hundred dollars per an
mum, each Of which shah be fixed by the
public examiner. The salary of the eX-
aminers in charge shall be fixed by the
public examiner as hereinafter provided
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
fifty 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 a stock
holder or in any manner interested in
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 the state except
the salaries of clerks which shall be paid
from the public examiners Contingent
Fund, upon vouchers countersgned by the
state auditor. Vouchers for the deputys,
attorneys, examiners, special eXamin-
ers and clerks salaries must first be
approved by the public examiner
All actual and necessary expenses of
examiners, special examiners, or clerks,
incurred in the discharge of their duties,
shall be paid by the state and shall be
fully itemized upon proper vouchers and
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 their appointment respectively, the
public examiner. deputy, attorney, ex-
amlners 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
thereon to be paid out of the public eX-
aminer's Contingent Fund Said oaths OF
office and bonds to be filed with the Sec
retary Of state.
See 4 seal-The public examiner
shall have a seal of the office containing
the words Public Examiner of South
Dakota" in the form of circle, and the
word Seal within the circle
Sec. 5. 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-
mir at net fxuFfn f snfs
year, the cash, bills, collateral, securities,
books of account, condition, and affairs of
each bank and trust company doing busi-
ness in this state, except national banks,
and shall ascertain whether such bank
or trust company transacts its business
at the place designated in tho articles OF
Incorporation, and whether its business is
conducted in the manner prescribed by
law.
For such purposes, he may Issue sub
Doenas requiring the attendance at such
any witnesses he may deem necessary to
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
inspection the production OF the original
or copy of all mortgages. collateral
pledges, and evidence of the recording or
case Of 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 to
such subpoena in the manner provided by
law for enforcing obedience to the SUBJ
poenas of said court. A witness fee of
two dollars per day and five cents per
mile for each mile actually and necessa-
rily travelled, shall be paid to each wit
ness and such fee and mileage shall be
proper charge against the assets of such
institution, PAYABLE thcrefgom immediate
ly, upon the order OF the examiner.
The public examiner shall examine or
cause 10 be examined, any bank or trust
company, when requested so to do by the
board of directors OF such bank or trust
company and wher an examination is
made upon such request, in addition 10
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 comnany .hhIl