Forest City press. (Forest City, Potter County, D.T. [S.D.]) 1883-19??, 1916-11-01
3. Refusal To permit 1n.n.ct,on

charge OF a bank shall refuse to submit
bank to the inspection Of the public ex.
aminer,, ms deputy, or examiner appointed
hereunder, or refuses to be examined on
the public xamine r1 is hereby a sunt1h Sans;
TO take charge of u bank n to win
Sec "a; Perjury-How Committed
bank required by law to take oath or af-
flrmatlon; or who shall wilfully swear or
aInrm Falsely upon any material matter.
shall be deemed guilty of perjury. and
upon conviction thereof, shall be punished
as provided by the laws of this state FOR
inc punishment of perjury.
Banks-Any bank organized under this
act may ~reorganize under the laws of the
United states as a national bank AS soon
as such bank shall have obtained the GER
tilcatc from the comptroller of the cur
rency, authorizing it 10 bust
ness under the United States banking law,
such r~eorganized bank shall take and
hold all the assets, real and personal, of
such hank organized under this act. sub
5ect to all liabilities existing against said
bank organized under this act. at the
Immediately notify the public examiner
of such reorganization and transfer.
Sec. 2S. National Banks MAY R%eorgan.
authorized to dissolve, and which shall
have taken the necessary steps to effect
dissolution. may re%organize unde this act.
upOh liC .SOIESSHC III WTllIlS OF Cno owners
Of two-thirds OF the capital stock g .uch
bank, and with the approval of the pub
lie xamine 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 this act,
and upon the approval of the public ex-
aminer. such bank shall be deemed to be
r-eorganized under this act, and %thereupon
all assets, real and personal, of such dis
GnIV0N ft0 1nNly c1nIl he ~-A- T.
and be and become the property of such
r~eorganized bank, subject to all liabilities
Of such national bank not l%iquidated be-
fore such reorganization.
Sec. ~ Consolidation of Banks-Con-
sent Necessary-A bank, which is in good
faith winding up it's business may for
bank in the same tow by, transferring
its resources n liabilities to such bank
with which 1t is in process of consolida-
tion, but no consolidation shall be made
tention, to the public examiner. and not
then until q thorough examination has
been made by him and his consent in
may a bank consolidate for the purpose
of defeating or ~defrauding any of the
creditors thereof in collection of their
debts. or either of them.
Sec. 2S. Voluntary Liquidation-Disso-
lution-Any bank may voluntarily liqui-
date by. paying OH all OF Its depositors in
full, and upon filing a certified statement
the fact tina al! its liabilities AVE been
paid: provided. however, that II any liza
bilities of such bank remain unliQuidated
and the person or persons entitled to re-
ceive payment thereon have not been To-
Gated, the bank shall publish notice for
ten consecutive weeks, in some newspa-
which such bank is located, to the cred
itors thereof, of its intention to liquidate
and If any liabilities remain u~nliquidated
subsequent to such publication Of notice,
such bank shall file with the public exam
liner a certified list of the names and last
known addresses OF such persons entitled
post with the public examiner a sum
sufficient to liquidate such liabilities, after
which it shall be considered that such
SO received by the public examiner shall
be handled in the manner prescribed for
making disposition of unclaimed deposits
or dividends in insolvent banks.
Any corporation transacting a banking
business under this act may be dissolved
by the circuit court of he county in
which it's place of business is 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 a
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
voring such dissolution, and directing the
pose, a copy of which resolution shall set
forth that all claims and demand against
such association nave been paid and dis
published for the time and in the manner
prescribed by law for service by publ
cation. Such notice shall state the name
of the court in which the petition has been
filed, the substance and purpose thereof.
and that unless objections are filed thereto
on or before a time to be stated, which
the first publication. the relief prayed for
will be granted. A copy of such notice
shall be sent to the public examiner with
thereof. and he shall. within thirty iipty'a daya
thereafter make a thorough examination
Of the affairs Of such bank and file a Ger
ton.
Any creditor or stakeholder may. on or
before the time fxed BY the notice. file
tions thereto, IL any, shall stand for hear
upon the hearing thereof the court shall
that there is no valid objection to the dis
solution OF such corporation, 1t shall rem
der Judgment dissolving the same, and
forward to the public examiner for the
SO rendered. properly, certified by the
county in which such bank operated.
Sec. 20. Banks May be Placed in the
Hands Of Public Examiner-Any ban
its affairs n assets under the control
Of the public examiner by posting q no.
tice on its front door as follows: This
bank is in the hands Of the public examin-
er:" Immediately upon posting such mo-
tice such bank shall notify the public
OF such action. The posting of
such notice or taking possession of any
bank by the public examiner. shall be suf-
fcient to place all its assets and property
OF whatever nature in the possession of
the public examiner, and shall operate
as q bar to any attachment proceedings.
and n attachment lien against such
property, acquired within thirty days
next preceding the taking OF such posses
sion by such examiner, shall be thereby
released and dissolved.