Forest City press. (Forest City, Potter County, D.T. [S.D.]) 1883-19??, 1916-11-01

of the bank without the consent of a ma
} }ereG b oi .ne /. directors. while the regis
Sec. 4s; Deposits by Minors and I'm
married Femalcs-Trust Deposits-When-
over any deposits shall be made in any
Of female, being or thereafter becoming
! married woman, the same shall be held
ior The exclusive right and benefit of such
MINOR or 1emaie, and free from the con-
troi or lien OF all persons whomsoever,
except exc Ia+ creditors, and shall be paid with
why whos m' nnmo d I've thereon, to the person in
maze, ana the receipt of such minor or
female shall be a sufficient release or
''SWSfha eneyc ,cr an sucd d. DEPOSIT t, to the bank.
any person in trust for another, and no
o.nef or furthc, notice of the existence
IN the event of the death of the trustee,
me tnr.s same nee or any part thereof, and any in
Sec. ~. Receiving Deposits When In
iolvent-n any banker. or any president.
1cer. or agent, clerk or employee Of any
PAM. bank or banking institution, doing
business in this state. shall receive or as
sen. to the reception OF any deposit of
money, OF other valuable thing, in such
oanR, or n any such banker. officer or
t tiHa snail create or assent to the crea-
ION OF any debt or Indebtedness by such
oankcr, bank or banking institution, In
johs,deratlon or by reason OF which in
dl1S otucF ValUaDle property
sna,l pc received by such banker or into
suen bank or banking institution. or with
no,as the proceeds Of any collection made
from the person entitled to receive REMIT
lance or payment therefor, after he shall
hase had knowledge of the fact that such
'ann institution is IN solvent. he shall
upon conviction thereof be puaished by a
me not less than one thousand dollars nor
more than five thousand dollars, or by
Imprisonment in the state pe%nitentiarv for
a term OF not less than two nor more
IMAM nve years, or by both such fine and
linpr'sonmcnt in the discretion of the
Sec. so. When Insolvent-A bank shall
&c deemed TO be insolvent when the actual
GaSn market value Of it's assets is Insult
unable to meet the demands of it's credi-
tors IN the usual and customary manner.
or when it shall fail TO make good it's
reserve as required by law, or when the
s.ocKholders upon notice from the public
examiner shall fail 10 make good an inn
Pa sen ~ IN the capital thereof.
ualaWIu' for any individual. firm or cor
poratlon to advertise. publish or other
ths h represent y IT., that they are engaged in
ing obtained authority from the public
nAainlner as herein provided. Any such
or emd of1icar % or ,n mem a,,s1 Of any such iirm,
Tending shall be deemed guilty of "A mis-
aslneanor and upon conviction thereof
than three hundred dollars nor more than
one thousand dollars in the discretion of
tNc court.
Sec. SO. Officers Removed-Any officer
OF inc bank found by the public examine
er TO- be dishonest. reckless, comDeten
or Sy d aha t 1CsrG shall be removed from office
winch ne is an officer, on the written or
DER Geo OF ~! q p pnh5io examiner:
WHO inc approval OF the governor and
.ne attorney general, shall have power to
a1the such rules ard regulations for the
government OF Tho hontSc Nf chic 20 80
may in his Judgment seem wise and en-
pe.lGnt; provided. that no such rules or
regulations snail i'll amy way conflict with
such banks. ~ so"''o ~
Sec. "a. An Banks Subject to Provi-
snall extend TO and govern all banks ex-
listing and doing business within the state
ana ail banks that may hereafter engage
reyes, duties and restrictions conferred
and imposed upon any bank existing and
doing business under the laws of this
state. are hereby abridged. enlarged or
hooiheu as each particular case may re-
qulre. to conform, to the provisions of
Article 8.
Section /. Guaranty Fund-Assessment
For the purpose of providing a De-
ton Of depositors in banks, every bank
engaged IN the business of banking under
the laws OF this State. shall be subject
to assessment to be levied. kept. col
iected and applied as hereinafter pro
Sec; 2. Discrimination of Banks-Ap-
prevail or Liquidation-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 NOR as IRON. mt the passage and approval of
levied upon any bank by the Depositors'
Guaranty Fund Commission until it's con-
dltlon shall be app, approved by the Deposit
bank whose condition has not been an.
proved by the Depositors' Guaranty Fund
Commission and which shall not have
G %annlisdrs with hG,eon conditions S. imposed by said
by January j.. 1916, shall Immediately be
aIiquidated as herein provided in this act
for the l5lquidation of insolvent banks.
ments-On the first day of January, 1916,
and on the first day of January Of each
year thereafter every bank engaged in
make and file with the Dcpositors' Guar
anty FUND Commission, a statement in
writing. verified by the oath of it's presi-
dent. vicc-president or cashier, showing
for thu. preceding twelve months.
On the first day of the month next sue
ceeding the date fixed for the making and
Guaranty Fund Commission shall levy
assessments against the assets of each of
said banks as follows:
On the first day of February, 1916. one
fourth of one per cent IN the average
daily deposits as shown by the first state
ment of such average daily deposits re-
CURED to be made and filed by the provi-
On the first day OF February Of each
and every year thereafter, one-fourth Of
one per cent of the average daily de-
.luired to be made and filed on the first
day Of January in each year, until the
total amount Of money in the Guaranty