Forest City press. (Forest City, Potter County, D.T. [S.D.]) 1883-19??, 1916-11-01
provided for original bylaws and all OF
the same shall be subject to the approval

OF the pOOnC examiner.
In all cases where Il banks bylaws
provide for meetings on dates which con-
!ict with sections III. ~ and ~ OF TINS
act, such by-laws must be properly
ing of the stockholders.
Sec. Is. Stock Book.l Every. bank
shall keep a stock book. which. shall at
business be subject to the inspection OF
he stockholders and creditors of the bank.
such book shall show a full and correct
list of the names and addresses of all
stockholders in the bank and the number
of shares held by each.
A list Of the owners of private banks
shall be kept in like manner. A refusal
by the officers of a bank to exhibit such
book to any person .rightfully demanding
inspection thereof, shall subjuct, such Of
ficer TO a fine of fifty dollars. In all ac-
tons. suits and proceedings such books
shall be conclusive evidence of the facts
therein stated, A copy of such list as of
date June S0th of each even numbered
Year. verified by oath of the president
or cashier or owner of such bank. shall
be transmitted to the public examiner
Sec. 10. Stockholders Right to Vote
~ all stockholders, meetings., each share
to one vote. a stakeholder may vote at
any meeting of the stockholders by proxy.
Sec. II. Articles May be Amended-A
bank may amend it's articles of incorpora-
ton in any manner not Inconsistent with
the provisions of law, at any time, by Il
vote of it's stockholders representing two
iHlTuS Oh tne capital STOCK, Such vote TO
be taken at a meeting called for that par-
pose. Such amendment, certified by the
president and cashier, shall be recorded
and filed as REQUIRED for articles of in
corporation. Unless the required surplus
will permit. no increase of capital shall
be valid until the amount thereof has
been subscribed and actually paid in.
No reduction of capital shall be made to
a less amount than is required under the
PROVISIONS of this act Tor capital. nor be
valid or warrant the cancellation of stock
certificates Or diminish the norSpnn1 Ito.
bility of stockholders until such reduc-
ton has been approved by the public ex;
upon a finding by him that the security Of
the existing creditors will not be inn
paired by the PROPOSED reduction.
Sec. Is. Real Estate-HowA cquired-A
bank may purchase, acquire, hold and
convey real estate for the following pur-
poses only:
the convenient transaction of its business.
including with it's banking offices, other
apartments to rent as a source of in
come.
Provided. however. that no bank shall!
fixtures, an amount greater than forty
herein provided, of such bank.
This limitation need not apply imme-
diately to present holdings OF banks now
book values of such holdings at least five
per cent annually until such values are
brought within this INIT.
ScCOIu. SUCH us Sudl Ne convened 10
it in satisfaction of debts previously con-
tracted in the course of it's business; pro
vided. however. that no bank shall invest
in real estate so acquired. any amount in
excess of the amount of such indebted
ness: and provided further, that real
estate SO acquired shall be disposed OF
ing charged out of the banks assets.
Third. Such as it shall purchase at
sale on gmen degrees, or mortgage
a bank shall not bid at such sale a larger
amount than Is necessary to satisfy it's
debts and costs.
cases contemplated in the second and
third subdivisions preceding shall be held
for a longer time than five years. except
granted, it must be sold at a private
or public. sale within one year thereafter.
to prevent a bank from loaning moneys
upon real estate security as provided by
law. Real estate shall be conveyed UNI
der the corporate seal Of the bank and
the hand of the president or vice presi-
dent and cashier or assistant cashier.
Sec. -; Called ReAports-special Re-
bank shall make to the public examiner
not less than five reports during each cal
ndar year, at such times as the public ex-
amtner shall requir the same, according
to the forms which he shall prescribe.
Such reports shall be signed and verified
by. the oath or affirmation of one of the
Va s'oSA CttItNS anu aIlSSlcu w Il L
least two Of the directors. Such report
shall exhibit in detail and under proper
heads. the resources and liabilities of the
bank. at the close Of the business of any
past day by the public examiner speci-
fled, within five days after the receipt of
the request therefor, from him.. Such re-
IN the town in which such bank is located,
provided that in case no newspaper is
pubiished in such town the report shall be
published in the nearest town within the
county in which such ban Is located,
where a newspaper is published. II there
De no newspaper published within the
then such report shall be published at the
nearest town within an adjoining county
WITHIN the state. where a newspaper is
published. and in the same form as made
to the public examiner. Proof of publi-
cation shall be furnished to the public ex-
aminer within fifteen days after receipt
The public examiner shall also have the
power to call for special reports from any
bank whenever in his Judgment the same
condition of such bank.
Sec; 20. Ten Dollars Per Day Forfeit
trs nslS;t bank falling to make and
the reports or proofs Of publication. as
required or contemplated by this act shall
pc subject at the discretion of the public
examiner to q forfeiture of ten dollars
for each day after the time required for
making such reports. Whenever any bank
fails or refuses to pay the forfeiture here
IN imposed for failure to make n trans
NIT such report, the public examiner is
hereby authorized to institute proceedings
for the recovery Of such forfeiture.
Sec. q. Books and Accounts-Forms
Observation-Disclosures it shall appear to
the public examiner that any bank does
ner as to enable him to readily ascertain
the true condition Of such bank, he shall
nave the W to require the officers or
or accounts as he may in his discretion
determine and prescribe for the purpose