Pierre weekly free press. (Pierre, S.D.) 1889-19??, 1916-11-02

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. a charge OF twenty
dollars per day and all necessary expenses
OF such attorney, shall be a proper charge
against the assets of such institution and
provided.
session of the property and assets OF
such bank or trust company, the public
assets OF such bank or trust company.
IN duplicate, one to be filed in the office
Of the public examiner and IN in the
office OF the clerk Of the circuit court for
p is located. Such inventory to
consist of a 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. is. Statement to Creditors. ]
Within thirty days after the taking pos
session Of n insolvent bank or trust
examiner shall make q financial state
ment together with a brief statement set
ting forth the cause Of the insolvency
and any other information regarding the
impaired condition of said bank not set
forth in the financial statement, and shall
mail a copy of such statement to each
s~tockholder and known creditor Of such
institution.
Sec: 10. .Claims-Notice.] The public
examiner shall cause notice to be given
by advertisement in such ~wspaper pub
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 max legal proof thereof
at IA place and within a time, not earlier
than ham, the last day Of publication. to be
shall mai a similar notice to all persons
whose names appear as creditors upon
the books of the bank or trust company.
fixed by such notice shall be forever bar
red; provided, however, thai upon good
cause shown. the court, in its discretion,
may direct the ayme of any dividend
trlbuted, or such proportion thereof as the
funds then in the hands of the public
belonging to such institution APP
permit; a and de p paS y i Fl }ur aiveren that VIII II
such. claim be for a deposit duly mad in
such bank or trust company, the court
may direct the public examiner to procure
the money as provided in Article 8 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
rejection upon the claimant either by
mail or personally. An affidavit of the
service of such notice, which shall be
prlma facie evidence thereof. shall be
.''S' WIN liz SlSlh " III u
Tor 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
by the public examiner, may be made by
any, party interested by filing a copy of
such objection with 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
me public examiner. forthwith presented
thereupon issue its order directing the
claimant to show cause at a time and
place therein specified, why such claim
should not be rejected. II upon such
tion of the court that the objections are
we'll founded. such claim shall by proper
order of the court be rejected by the pub
lie examiner, If i. appears to the court
tfat such objections are not well found
ed, the court shall by proper order. di-
rect that such claims be paid In 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,
person filing said objections and col
lected in the same manner as other judg-
ments.
Upon the expiration of the time fixed
shall make in duplicate, a full
and complete list of the claims presented,
which have. been rejected. and he shall
plete list of all claims presented and al
lowed, other than claims of depositors,
if any Of such claims are preferred
claims. he shall SO specify; one copy to
aminer and the other in the office OF the
clerk Of the circuit court for the county
In which such institution is located.
the expiration OF. the date fixed for the
presentation OF claims, the public exam
iiner may. out OF the funds remaining in
his hands after the payment OF expenses.
the expiration of one year from the first
OF the notice to creditors, he
declare a fina, dividend. such divi-
dends to be paid to such persons. and In
may be directed by the circuit court for
the county in which such bank or trust
is located.
Sec 81: Observation-Disclosures De-
postts Dividends and unclaimed de-
posits remaining unpaid in the hands Of
the public examiner for six months after
by him deposited in one or more state
banks or trust companies, to the credit
of the public examiner. in his name Of
Office Q in trust f., the several depositors
Sec. %. Payment OF Claims The
public examiner may pay over the
moneys SO held by him to the persons
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
so held by him toward defraying expenses
In the payment ard distribution Of such
deposits or dividends 10 the de-
and creditors entitled TO receive
the same.
Sec. %. Liability of Stockholders
When Collected.] II at any time after
the closing OF any bar or trust company,
1t shall appear to the public examiner
that the assets Of such institution are in
sufficient to pay its liabilities, 1t shall be
the duty OF such public examiner to inn
nediately institute proceedings for the
collection of the liability OF the stock
holders OF such bank or trust COMPANY.
All sums so collected shall be deemed u
part OF the assets OF such ban or trust
company, and be distributed pro rata 10
the creditors thereof, in the same
as other funds. No action by any cred
itor against any stockholder of such bank
or trust company for the recovery Of such
liability shall be maintained. unless 1t
appear TO the satisfaction Of the
court that the public examiner has re-
fused to action at herein pro-
vided.
Sec. -. Creditors Of Private Banks
May Not Attach. No creditor or cred
itors Of any individual ban or OF indi-
Sidual members OF in co-partnership do
ing q banking business In this state. shall
be. permitted to attach. or seize under
any writ OF attachment or execution. or
to hold liable for such individual icdebt.