The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1916-04-19

paid in said contract sued upon; provided
further, the provisions OF this Act shall
not operate to repeal or modify any Of the
PROV siOns OF the negotiable instrument
sct.
sec. 3. ANY person, firm, or corpora
t.ou violating the provisions of this Act
and the laws OF this State relating to the
loaning Of money by taking, reserVing
charging or receiving any usurious inter
est on any note, bill, or other evidence Of
bona Iide purchaser before due, shall
be liable to the maker of said note, bill
OF other evidence OF debt, for double al
such interest taken, reserved, charged or
received, and ii shall be competent to
join in the same action causes OF action
for reserN!nE and charging usurious in
tcIest with causes OF action for taking and
receiving usurous interest and any num-
Der Of such causes Of such action may be
joined 10y the same action whether grow
ing out Of the same transaction or diff
fercnt transactions wherein such usurious
interest is taken, reserved, charged or re-
ceIycd. provided that the purchaser Of
any note or evidence of debt with notice
or knowledge thGt the same was executed
I'm violation Of the interest laws Of the
state, shall not be deemed an innocent
purchaser, and such contract shall be
held subject to all the defenses and PEN
alties provided in this Act; provided fur
ther that causes of action for the Tecov-
cry of penalties created in this Act shall
not be aSSlBIdDle.
Sec. 4. No SUIT upon any contract en-
tered into after the passage and approva.
OF this Act, OF $500 90 or less, or an action
in repevin or to fOreclose any mort gage
or lien given as security therefor, sinai
be maintained in the courts of this state
and no petition or bill of particulars shal
be filed or any process issued where the
amount of such sum is $4,000 or less, un
less, at the time of filing such suit, there
shall be filed with such bill of particulars
ga lu, fFr u
that the contract sued on was not made
in violation of the interest laws OF this
state, and that a greater rate OF interest
than ten per cent has not been charged,
reserved or collected upon such contract
or contracts sued upon; provided, that If
upon the trial of any such suit brought
upon any note, bin or other evidence OF
Indebtedness OF $4,000 or less, or IN re
plevin, or for the foreclosure or any hen
given to secure the same, IT shall be
shown by the evidence that the contract
sued upon is usurious and made in Nio-
lation Of the interest laws OF this state
said suit shall be dismissed at the cost of
the plaintiff.
Sec. 5 1t shall be the duty of the Of
fcers of all state banks, organized and
doing business under and by virtue of the
laws of the state, to make a sworn quar-
terlv report to the Bank Commissioner,
setting forth the rate of interest charged,
retained, reserved or collected upon the
loans made in excess of the legal rate or
interest during the quarter from "hlCh
said report is made. and such other de-
tailed information as the Bank Commis-
soner may require concerning rates o.
interest charged, and all such reports as
show the rates of interest exceeding ten
per cent per annum have been charged
shall be published in the annual report of
the Bank Commissioner; provided, that
when the report of any bank shall dis
close that such bank is wilfully loaning
money in violation Of the interest laws OF
the state, it shall be his duty to imne-
diately report such violation to the Gov
prnor who may direct the Bank Commls-
soner to bring suit, through the Attor-
ney General, in court OF competent lur-
isdiction in the county where the bank ~
located, TO cancel the charter of such
bank. and the judgment of the court on
the trial of said issue shall find the de-
fendant bank guilty or not guilty and If
the Judgment is guilty, it shall further
provide for the cancellation of the charter
Of said bank and the liquidation Of the
assets Of said bank, as the law now pro
yides I'm cases of insolVent banks, from
which judgment either party shall hav"
the right to appeal to the supreme Court.
as I'm civil cases. UTon such appeal being
filed the Supreme Cour, shall hear and
determine same as an advanced case.