Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1916-10-28

Sec. 10. Examiners in Charge--As-
sistants-Appointme The public eX
aminer may. under his hand and official
seal appoint one or more examiners IN
charge, az agent or agents 10 assist him
o the duty OF liquidation and distribution;
the certlucte OF appoin tnent to be filed
IN the office of the public examiner, and
certified copy in the office of the clerk
OF the circuit court for the county IN
which such bank or trust company Is To-
Gated. The public examiner may from
time to time authorize a special examiner
10 perform such duties connected with
such liquidation and distribution as he
may deem proper The public examiner
may employ such counsel and procure
such expert assistance and advice as may
be necessary N the liquidation and dis
tribution OF the assets of such bank or
trust company and may retain such Of
1cers or employees Of such bank or trust
company as he may deem necessary. The
public examiner shah require from such
examiners in charge, special examiners,
counsel and assistants, such security for
the faithful discharge of their duties, as
Sec. 16 Compensation - Expenses -
Payment and Accounting ] The COM
pensaton Of examiners In charge, spe-
cih examiners, counsel, and other en-
ployes and assistants, and all expenses Of
supervision, liquidation and distribution,
shall be fixed by the public examiner
subject to the approval of the circuit
court for the county in which such bank
or trust company is located, on notice to
such bank or trust company and shall
]
or trust company in the hands OF the
public examiner.
For each and every day that the affairs
such bank or trust company may, in the
discretion OF the public examiner. require
the personal attention Of the public eN-
amlner, his deputy, attorney or any eX-
amner the sum of five dollars per day
and all necessary expenses OF such officer
or officers, shall be a proper charge
/ against the assets OF such bank or trust
company, and upon the order of the pub
] lie shall he Maid nv -
aminer in charge of such institution, from
the assets thereof to the Department of
Banking ana Finance and shall be de-
oslted with the State Treasurer and cred
tied 70 the Contingent Fund of said de-
partment; provided, that for each and ev-
cry day that the departments attorney is
actually and necessarily engaged in pre-
pairing for trial and the trial of cases for
any such institution, charge of twenty
dollars per day and all necessary expenses
OF such attorney, shall be proper charge
against the assets OF such institution and
shall be paid and accounted for as herein
provided.
Sec. II. Inventory. Upon taking pos
session Of the property and assets OF
such bank or trust company, the public
examiner shall make an inventory of the
assets of such bank or trust company,
in duplicate, one to be filed in the office
OF the public examiner and one in the
office of the clerk of the circuit court for
the county in which such bank or trust
company is located. Such inventory to
consist of list OF all assets of the in
stitution, but the Bills Receivable shall
only be noted by number and amount as
appears on the Bills Receivable register
OF such institution.
Sec 1S Statement to Creditors ]
Within thirty days after the taking pos
company as herein provided, the public
examiner shall make a financial state
ment together with n brief statement set
and any other information regarding the
impaired condition of said bank not set
forth in the financial statement, and shall
mail copy OF such statement TO each
stockholder and known creditor of such
institution
sec 49, Claims-Notice The public
examiner shall cause notice to be given
by advertisement in such newspa pers pub
lished within the county IN which such
bank or trust company Is located as he
may direct weekly for ten consecutive
weeks, calling on all persons who have
claims against such bank or trust COM
pany, to present the same to the public
examiner and make legal proof thereof
at place and within a time. not earlier
than the last day of publication, to be
therein specified. The public examiner
shall mall similar notice TO All persons
whose names appear as creditors upon
the BOOKS OF the bank or trust company.
Any claim not presented within the time
fixed by such notice shall be forever bar
red provided, however, that upon good
cause shown, the court in its discretion.
may direct the payment of any dividend
or dividends heretofore declared and dis
tributed. or such proportion thereof as the
funds then in the hands Of the public
examiner belonging to such institution APP
plicable 70 the payment Of dividends, viii
permit; ana, provided further. that II
such claim be for deposit duly made in
such bank or trust company, the court
may direct the public examiner to procure
the money as provided in Article of this
act and pay the same to the claimant.
If the public examiner doubts the JUS
tice and validity of any claim, he may
reject the same and serve notice of such
rejection upon the claimant either by
mail or personally. An affidavit of the
service of such notice, which shall be
prima facie evidence thereof, shall be
filed with the clerk OF the circuit court
for the county in which such bank or
trust company is located. An action upon
a claim so rejected must be brought with
in three months after such service.
Objections to any claim not rejected
any party interested by filing copy of
such objection W1th the public examiner
within thirty days after the date fixed in
the notice to creditors for the filing OF
claims. and such objections shall be, by
the public examiner, forthwith presented
to the circuit court. Said court shall
thereupon issue IFS order directing the
claimant TO show cause at time and
place therein specified, why such claim
should not be rejected. II upon such
hearing il shall appear to the satisfac-
tion Of the court that the objections are
well founded such claim shall by proper
order OF the court be rejected by the pub
III tAdHilhti II IL appears 10 the court
that such objections are not well found
ed. the court shall by proper order. d-
rect that such claims be paid i'm the
regular administration OF the affairs Of
proceedings shall be fixed by the court
and upon motion by the owner of the
claim objected to. after six days notice.
judgment may be entered against the
person filing said objections and COL
lected In the same manner as other judg
ments
I5ror ,bo ovnira4 4io, OF ~. .f.,,o fs,.os
for the presentation of claims the public
examiner shall make I'm duplicate, q full
and complete list Of the claims presented.
which have been rejected, and he shall
also make in duplicate full and COM
plete list Of all claims presented and al
lowed. other than claims Of depositoIs s.
and II any Of such claims are preferred
claims, ne shall so specify; one copy to
be filed IN the office of the public ex-
aminer and the other in the office of the
clerk of the circuit court for tho county
in which such institution is loca ted.
Sec 90 Dividends. Al any time after
the expire tion or the date fixed for the
presentation OF claims. the public exam
iner may, ont Of the funds remaining in
his hands after the payment Of eXpe nses,
declare one or more dividends, and after
tho expiration of one year from the first
publication OF the notice TO creditors he
may declare final dividend. such divi-
dends TO be paid TO such persons, and in
such amounts and upon such notice, as
may be directed by the circuit court for
the county in which such bank or trust
company Is located
Sec 81 Observation-Disclosures De-
posts Dividends and unclaimed de-
positg semaininR unpaid In the hands OF
the public examiner for six months after
the order for final distribution shall be
by him deposited I'm one or more state
ban'rs or trust companies. to the credit
OF the public examiner, In his name Of
office in trust for the several dcpositors
and creditors entitled thereto
Sec. -. Payment OF Claims. The
public examiner may pay over the
moneys so held by him 20 the persons
respectively entitled thereto upon being
furnished satisfactory evidence OF their
right to the same, and in cases Of doubt
or conflicting claims, he may require an
order OF the circuit court authorizing and
directing the payment thereof He may
apply the interest earned by the moneys
l.-ll Il -.