The Brookings register. [volume] (Brookings, Brookings County, S.D.) 1903-1971, 1916-10-26

the TSQACSt blCi uLUl. SuCn re-
ports shall be published in =. newspaper
In the town in which such bank Is located.
provided that IN case no newspaper is
published in such town the report shall be
published in the nearest town within the
county in which such bank is located.
where a newspaper is published. Ii there
be no newspaper published within the
county in which such bank is located.
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 publ
cation shall be furnished to the public ex-
aminer within fifteen days after receipt
OF the aforesaid call.
The public examiner shall also have the
power to call for special reports from any
bank whenever III Els Judgment the same
is necessary TO inform him fully of the
condition OF such bank.
Sec. 20. Ten Dollars Per Day Forfeit
ure-Evsry bank failing TO make and
transmit TO the public examiner any Of
the reports or proofs of publication as
required or contemplated by this act shall
be subject at the discretion OF the public
examiner to a forfeiture of ten dollars
for each day after the time required for
making such reports. Whenever any bank
fails or refuses TO Gay the forfeiture here
in imposed for failure TO make and trans
NIT such report, the public examiner is
hereby authorized to institute proceedings
for the recovery Of such forfeiture.
Sec. 2l. Books and Accounts-Forns
Prescribed-W henever it shall appear to
ZIG EAGAAS AAl&N Oily AeALAA hSE
not keep books and accounts in such man
ner as TO enable him 10 readily ascertain
the true condition OF such bank, he shall
have the power 10 require the officers or
any OF them TO open and keep such books
or accounts as he may in his discretion
determine and prescribe for the purpose
ords OF transactions and accounts OF such
bank in permanent form. Any bank
that refuses or negiectS 10 open and keep
such books or accounts as may be pre-
ERrfhHn nv PGnrrfvad hI rha r-fi'fH ava NJ
tnel snail be subject 10 a penalty OF ten
dollars for eacn day il n~eslects and fails
TO open and Keep such prescribed books
and accounts, and the public examiner
is hereby authorized 20 institute proceed
ings for the recovery Of such forfeiture.
Sec; %. Making False Statement Made
a ~Felory-Any banker, officer, director
or employee OF any bank who shall SUBJ
scribe 10 or make or cause % be made,
any false statement or false entry In the
books of any bank, or shall subscribe TO
or exhibit false papers, with intent =
deceive any person or persons authorized
to examine into the affairs OF said bank,
or shall make. state or publish any false
report or statement OF any such bank.
shall be eemed guilty OF a felony and
upon conviction thereof shall be punished
by a fine not to exceed five thousand dol
itentlaTy not 10 exceed ten years, or by
both such fine and imprisonment in the
discretion OF the court.
Sec. %. Refusal To Permit Inspection
Effect Of-Whenever any officer in
charge Of a bank shall refuse TO submit
the books, papers and concerns Of such
bank 10 the inspection OF the public ex-
aminer, his deputy. or examiner appointed
hereunder, or refuses 10 be examined on
oath touching the concerns OF the bank.
the public examiner IS hereby authorized
to take charge OF such bank and 20 wind
up its affairs.
Sec "a. Perjury-How Committed
Penalty-Every officer or employe OF any
bank required by law 10 take oath or af-
frmation, or who shall wilfully swear or
affirm falsely upon any material matter.
shall be deemed guilty Of perjury, and
as provided by the laws OF this state .or
the punishment Of perjury,
Sec %: When Organized as National
Banks-Any bank organized under this
act may reorganize under the laws Of the
United States as 4 national bank. As soon
as such bank shall have obtained the GER
rency, authorizing it 70 commence bus!-
ness under the United States banking law,
such reorganized bank shall take and
hold all the assets, real and personal, OF
such hank organized under this act, sub
teCt TO all liabilities existing against said
bank organized under this act, at the
Immediately notify the public examiner
Of such REORGANIZATION and transfer.
Sec. %. National Banks May Reorgan.
ize as State Banks-Any national bank
have taken the necessary steps to effect
dissolution, may reo~gaE!Ze under this act,
UuOn the consent N writing Jt the owners
OF two-thirds Of the capital stock Of such
bank, and with the approval Of the pub
lie examiner. Such stockholders shall
make, execute and acknowledge articles
OF incorporation as required by this act,
and shall set forth the said written con-
sent Of such stockholders. Upon the filing
OF said articles. as provided BY ms act,
and upon the approval OF the pubic eX-
aminer, such bank shall be deemed TO be
reorganized under this act, and thereupon
all assets, real and personal, OF such dis
a11--al ---tn--T i-~L shall he r-sEra6 in
and be and become the property OF such
reorganized bank. subject TO all liabilities
of such national bank not liquidated be-
fore such reorganization.
Sec. -. Consolidation OF Eanks-Con-
sent N~eceszary-A bank. which is in good
faith winding up its business may for
such purpose consolidate with some other
bank in the same town by transferring
its resources and liabilities TO such bank
with which IL is in process Of consolida-
ton. but no consolidation shall be made
without due notice in writing of such in
~tention. to the public examiner, and not
then until a thorough examination has
writing obtained, provided that in no case
may a bsrk consolidate for the purpose
of defeating or d~efrauding any Of the
creditors thereof in collection OF their
debts, or either Of them.
Sec. %. Voluntary Liquidation-Disso-
lution-Any bank may voluntarily hqul-
date by paying off all Of its depositors in
full. and upon fling a certified statement
with the public examiner setting forth
the fact that all its liabilities have been
paid; provided, however, that II any la
bilities of such bank remain unliqu!dated
and the person o. persons entitled to re-
ceiYe m thereon have not been To-
Gated. the bank shall publish notice for
ten consecutive weeks, in some newspa-
per published in the town or county in
which such bank is located, to the cred
itors thereof, OF it's intention 10 lquidate
and IL any liabilities remain unliquidated
subsequent to such publication of notice.
such bank shall file with the pubic exam
liner a certified list Of the names and last
known addresses of such persons entitled
to receive payment thereon, and shall de-
post with the public examiner a sum
sufficient to liruidate such liabilities, after
which il shall be considered that such
liza abilities have been liGuidated. The funds
30 received by the public examiner shail
be handled In the manner prescribed for
making disposition OF uncla aimed deposits
or dividends In insolvent banks.
Any corporation transacting a banking
business under this act may be dissolved
by the circuit court of the county In
which its place OF business IL located, In
the following manner: A verified petition
shall be filed in the office Of the clerk OF
said court. signed by the president or q
majority Of the board OF directors, set
ting forth that stockholders representing
two-thirds OF the amount OF. stock Of such
association have adopted a resolution IA
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