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

I persons, except as herein otherwise pro-
yided. II any bank shall for a period OF
ten days neglect or refuse 10 credlt any
assessment, or 10 remit 10 the treasurer
OF the State Banking Board IN respohse 70
bank, or any part thereof 10 tde cIeqat
Of said boayd, or any interest due on oallg
balances. as in this Act PROVIDED: SuGn
bank shall be liabl in addition 10 lhe
I assessment or interest 50 due, 10 a pen
atty in an amount equal to sucn assess
ment, or interest or Such amount 50 al.
ed, which penalty shall be RENTED Ply
draft TO the trea surer Of the state l@lhk-
ing Board and NOTICE Of such remittance
shall be forwarded by such bank TO tne
public examiner. whenever any Ddhh
snail be in arrears for a period OF ten
DAYS such bank shall! he notified by me
public mi 20 rIake Sood sui
arrCarage and penalty and II Sucl DaIn
shall fail or refuse so to do for a period
Of ten DAYS thereafter, the public exam
iner shall Immediately proceed 20 MAKE
an examination OF the affairs OF such bahk
and II he shall find it TO be insolyent he
shall take possession of it's books, accounts
and assets and wind up its affairs IN me
manner prescribed by law, II the p9Dllc
examiner shall upon due Summation,
lind said bank to be solvent and honestly
managed, and the said bank shah stlil re-
fuse to pay such assessment, or TO remit IN
re ponse to such call, or to remit such IN
terest and the penalty provided Tor by
this Section, he shah bring an actlon
against the said bank for the recovery
thereof IN the name 0i lte f1I'iS ~ i 80
Guaranty Fund, and such action shal be
prosecuted ny the attorney gehr,'l' H.
Vlded, that the reftedleS HcLe'h Plge'i ~"
where provided in this Act for delinquency
Of bank officials.
Sec. %. Unappropriated Assessments
Refunded-When.-lf any bank ORGANIZED
under the laws Of this state, having PAD
any assessment or assessments to the De
p~ositOrs' Guaranty Fund, shall liIuldate
and 20 out of business. or shall desire TO
organize as a national bank and with
draw from the protection OF the De-
posters Guaranty Fund for It's depositors,
The portion Of such asSeSsnent, or assess,
ments, which shall not have heen paid
to depOsitors of failed banks, under the
provisions OF this Act, less ten per cent,
shall be refunded IL any such bank by
the state Banking Board iroyided' that
no such bank sh3Ii De rG.e,ss' rom rs
OBLIGATION to the Drposlt'rS Guaranty
Fund until It shall have paid It's proper
proportion Of all outstanding 5ertlilcates
# failed banks IN Ter the provisions OF
this Act, nor until II SuaIl nave f"'oiNsu
permission IN writing SO TO dn. rom the
public examiner of tlis. state after an eN-
Sec. "a Rate or interest on ienoSlts
OBSERVATION-DISCLOSURES hank S~un}e't TO
the provisions Of this Act shall Keep a
correct record or the interest," rate ana
terms or deposits, upon winch IL mas
agreed TO pay interest, and s'lall SUBMIT
the said record Tor NHmiN tion by the
public examiner upon demand. NO ,such
bank shall paw, or agree to pay a higher
rate OK interest for deposits or any de-
serlotion, nor TO allow interest on Tune
certificates for a shorter period, than be
uniform among Il majority OF other banks
throughout the same county in which such
.ank shall be located. ANY bank, or bank
ing corporation. proven guilty OF a viola
ton # this Section in any court Of COM
petont jurisdiction shall be fined in q sum
not less than 100000 or more than $500. GO
Denositors' Guaranty Fund for the benefit
NJ the depositors Of failed banks. The
public examiner shall make careful in
gJirv to ascertain If any bank be violat-
he shall be able 10 ad1uce sufficient evil
dence. he shall Institute an action against
anv such bank for the recovery Of tie fine
herein provided for ana such action shall
be prosecuted by the attorney general Of
the state.
Sec. %. Northumberland May BE
Offered.-The State Banking Board shall
have power to offer and pay out Of the
Depositors' Guaranty Fund, under such
conditions as il NAV deem proper, ana
not to exceed the sum of $4,000 In any
one case, rewards for the arrest and con-
viction Of anv officer, agent. director or
ting any of the laws of this state relating
70 la nks and banking for which a Grim
inal penalty Is provided.
Sec. 26. Recreance TO Dutv-Additional
person shall fail or refuse for a period Of
ten days to perform anv duty REQUIRED by
him to be performed, or shall, wilfully and
knowingly perform any duty required to
| Of this Act in anv other manner thar as
herein directed IN everv such case for
which no penalty Is hereinbefore pre-