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

/ pedient; provided, that no such rules or
regulations shall in any way conflict with
| any or the laws made for the control OF
such banks.
Sec. 81 An Banks Subject to Provi-
/ sions OF Act-The provisions of this act
shall extend to and govern all banks ex-
| listing and doing business within the state
/ and all banks that may hereafter engage
IN the business. All the powers privi-
! leges, duties and restrictions conferred
and imposed upon any bank existing and
| doing business under the laws of this
! state, are hereby abridged, enlarged or
| modified as each particular case may re-
qulre, TO conform to the provisions of
/ this act
Article g.
Section /. Guaranty Fund-Assessment
! -For the purpose OF providing a De-
| positors' Guaranty Fund for the protec-
| ton Of depositors in banks. every bank
/ engaged in the business Of banking under
ahe laws of this State. shall be subject
10 assessment to be levied, kept coli
] lected and applied as hereinafter pro-
vided
Sec. 2. Examination Of Banls-Ap-
proval or Liquidauon--It shall be the duty
| OF the public examiner of this state to
| examine every state and private bank
! doing business In this state within six
/ months from the passage and approval of
mis- act and no assessment shall be
levied upon any bank by the Depositors
| Guaranty Fund Commission until it's con-
dition shall be approved by the Deposit
| ors' Guaranty Fund Commission Every
BANK whose c9ndluon has not been ap--
Soye reisSyyo, d PusltoLs Guar"nly uIlu @
| complied with conditions imposed by said
| - DepDsr.oIs pJ iuaIIhy fuud COMMISSION
~ 1aituaiS - dSLp, sIdH iiuiIleulately be
for the liquidation of insolvent banks.
sec. Filing statements-Assess-
i iiiei ~ &c s H'St uay OF January; ISl9
/ year thereafter every bank engaged in
the business OF banking in this state SHAH
~ noAc iSa 9tta ~ WI ttle DeposiloIs GUAR
amy una CoI,liilssioi' a statement IN
Wll.iHs, ". l.lc4 by tue oilii on lls presl-
I'eht' P ~ s2iugnt or Sashiei, showing
I ~ I'O'oSO q,t1S qii1SS ~. l,,s''9 Isl lli rs Ddhh
ioI "5 he drst dpt of tli. a,,ii ,. s
VI tne H4sS 10y vi 'it1 lnoilti next sue
SSgeuIhs 'ils a &c u@eu -. Lor % ,le III"lhE ana
! luluB ot 7'-u s'1,eIHsuH me bspCsltofs
1l'.il'S ~ @ Sg'.Iii.is5.oa Sialt ievy
sIneilts @7S.Yst tHe assets oA~each Oh
! S'lH pIllhS otio , .o..
w the Iist Gay OF fepruary, 1910, one
,ii,l 1oGitn ~ ~ Wy ,, oH r. SnS 4NsIs.se
udllS uePDs.lS '.a an"WH pS me hI7t sla e.
ment OF suen 3LeI3Se gaIiy deposits re-
! qulFeu 70 pE ilauo l"o H'eu py l-le proFl-
slGnS OF 'i5s ssSLvA,
IN tiS Ht - ia! oL 81 = eE' uAI ol e1cn
Hln C1CIS St'i '4iJl ~ l'ttSl, o'ie- ilh OF
| Ole pSL SetlL VI tlle ssNeI"be raIly ue-
poSlIS - sao WI ~ - .3-e ny, st@ @teLleIls Yen re-
guIeu ~ We tlaue 'ilN Hlcu on the Irsl
uay ol Jamu"iS @ ~ StC" Se4r, Ghtl the
totaL allounl oL inon5S ~ ne Guaranty
~ o1.ere ,a deiiv daunsits per cent
| va - -, ,-t5.,t
DIT any av6 6a5 , ~ ~ oi auCh assessIne ent
siai pe ueei.ieu i \" n ID - psen BlEeh When
sucn , noul0e as sii"Ii -, pT pifpaItu py the
secretary vi 'Ile Solilii'isslon mas been
placed IN an ehyeIope, securely sealed.
posIdso - y, ei't,tC, ~ IA " edCH OF Sald
pam Da,HS '"iu ueposi'eo III 'ne Ohlted states
mat ~. , ~,
FroVldeui lhaL wren the Deposltors
Guaranty wv S@'lDies @ tHe total sum OF
one anu oliS. l'"'s pa "a eeiit Z Ut tue average
daily deposits, sag assessments against
" .
suCh tiiilS % @ eiI0 H,''ai t 1ii'y + uHd IS de-
pleIeu pcloM O,.I - PS' ocilt t "a "a tlS average
udlly 70, ,{ ~ IL gssIy assess
menus may "soIt srt ~ - 'Se,Gu , a. one ioufth
9l 9ne Pvi rooc,,o o one "n,ISih ma uhIl saId
tunq again Ie%ches oiiS anu ole-hau per
cent Of the average daIly deposits
fIoVlue,ul ~ ~ 'iei' liI' tuat 10 pahk Whlch
mas CoP'l'-.eu ~ ~ ~ WIN SIl sie provisions
ei tnp - i. siiaH ue q iSqqqiFeu f 70 give any
"a l1l inei 10 ~ i, ~ oU,u iVL 'le purpose
Si ~ 5,i1 $500 III any pupilG
iuIos, put PupiC IuiIus sIall De secured
IN the same manner as private FUNDS are
seGqTeSa. SL,osi+. no, o+ror,,,i.o .oo,,-o, -, .,
All uspos9lt9, tot n IllLel WISE sScured Shaii
oe s;S suaiaidtSeu ~ y tTts us az ~ ne guaranty
~ Pr0NiuSu ioi ~ tiaS .i az az sLaL moI Apply
IN 80 nii5H "a eiUiI a. etdTrsen i upon
DI4lS I~e-ulsCCuI''Su, ~ llol 70 Dllls pdJdble.
nor nor 70 money poolIo" GO a., hoil lts cor =,
Lespoi.ueISS ti Ot ~. 1.hels; h%aeu % gu'IaiitSed
DdIlH sIiap =, eLlilS uIuei o<Stii. 70 tlie re
poSl'9Is Ieeudtty + ullu Co.li!iIlssion AZ
@ ny uaIe oa eacn J11uatS IN stateInent az
HeI IeIhptioTe proFi1eu' the dinount u
nioiIey ~ mas on ueposit Lol tlglpie 70
guaranty uhder the PROVISIONS oI TINS act,
and ID, in assessing such bank this amount
shsll pe oenucLeu from the @ total 1,epGlsiIS9.
aec. =; ihterest on i'eHosils-.>ip ptsH .,,'
aSt a., shdn pay interest on oeposIts' uitfct ~,
~ ~ VI IhalleS e,t AZ d sasa.er I@'e 'ha4'
pe' oSe VIZ pr ~ Io,,a % ,
| AhS oilCeT, uIector oI tiilpioye W d
nsank nank violating the Provisions OF TINS sec
oron, uirsc'iy or IiluISctIy, sIiiiL pe uesIr.eu
~ s69 h ~ n,,ysbad au ~ W s,a ~ rot Iaso
tba, Sna oe dI puisnea ~ d hI,e m & oi no' ,
s,o sah one nuhared dollars or more ttlatl
Ivy ~ eu uoiiarsi OF ~
~ ~ .iie Sta''e @ ioI tTtln I ot .oo
vesrs ii@ nr pe bath b ienretn trla of me
| $500 VI Ootii' III the uiSSi e'iOi VI INC
eoSi & = .o.,,oa A,,,,o, c,o.or,o-.
sec D; averaged Annual statement
raise Statemen Penalty-Anly BANK
it ooil.iieilSiIls Is ousiuesS anu IeSeiFLns ue
| hI hositS - leSs tIaH we've . IIoi!lha pLIol ~ ~
Ing ueate ".en tie s.ateilienl aeiel ieu s 40 ~
and fiied s, rs 20 an, pe Az
49, i,ieu s.ali snoW tIie 9tSglase 1'lI,y ue
posioS p, ior tnat poitLoii q the stiu aIliiua, y
~ lou , ,uuIlhg WAlch men ~ Hds peeH ehsase"
"a pusiaess ,., rl,.s anu recelVlns @ 9eposIts, -,
any person hltlhlhs odlh 10 any OF tne
statements heTeln required, knowing the
same 70 DC f2lse, shaH be deemed gulity
~, , aeioH$ anu De puIlisIeu y a nlle U oI
| ~ ~. iess mar, thtee LuhuISu uoIars nor
1870 srlan one thousanu uoiidIs, OF py
lii!pilsoilfnehI . IN lne state penltehtafy LOT
t osiia a VI liot less tIa, one sshr nor more more
| o.an al. hNe Years or poth' III the uiscfeuoh
OF the court.
oec 0. voluntary Llquloaton or
d;se ,,si,se ~ >atIonaI bdhhIl ~ any pdIk
ses Ies 70 go llto voluntary hquidatoh or
! aI Slailse 70 q nauoi,af pank pelore tne as
| l lessiIIehts ptoFI1eu ior IN tne Etst sectloh
| ossNolhiie s oli uue anu payapIe, the proVislohs
OF o Ihis act shall not release SAID bank
| tuLoiIl tne paynent OF any assessments
| .n sn.n Iue from IL 10 the Deposllois Ouar-
amy Una;
| &c. Z. new Banks-Any pank organ
@ Ecu SupsequeHI 10 January ISL, 1919 shali
Ply Ilieo me oepositors Guaranty fund
an aliouht equaI 10 lour per cent OF IT'S
capital STOCK, when such bank opens for
BUSINESS, Whlch amount snaii constitute
SSIeullt I9ho, supJect 10 ad1ustfnent on the
,,asiss sis " saiu at odlik anerage uaiiy de-
POSTS, as shown by the first annual state
si aiien5 requirep py secuon three OF TINS
drnce.
Ihe Depositors' Guaranty Fund Com