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

NIT StiCh report, the PUBIC -
hereby authorized to institute proceedings
for the recovery of such forfeiture.
Sec. 2l. Books and Accounts-Forms
Observation-Disclosures 1t shall appear 70
the public examiner that any bank does
not keep books and accounts in such man
ner as to enable him to readily ascertain
the true condition of such bank, ne shan
have the power to require the ofncers or
any OF them to open and keep such books
or accounts as he may in his discretion
determine and prescribe for the purpose
Of keeping accurate and conVenieht rec-
ords OF transactions and accounts OF sucn
| bank in permanent form. Any pahh
that refuses or neglects TO open ana Keep
such books or accounts as may De pre-
scribed or required by the public exam
| nea snail be subject TO a penalty Or zen
dollars for each day II neglects and tails
| TO open and Keep such prescribed DOCKS
I and accounts, and the public examiner
/ is hereby authorized to institute proceed
/ ings for the recovery of such forfeiture.
| Sec %. Making False Statement Made
a Felony-Any banker, oihcer, Il directpr
or employe Of any bank who shah SUP
/ scribe TO or make or cause 20 % maue'
! any false statement or false entry IN the
! books Of any bank, or shall suoscrlDe 70
| or exhibit false papers with intent to
| deceive any person or persons authorized
I 10 examine into the affairs OF said bank,
| or shall make, state or publish any false
/ report or statement Of any Sueh banh,
! shall be deemed guilty OF felony ana
/ upon conviction thereof shall be uunishsd
| by fine not to exceed five thousand dol
! lars, or by imprisonment In the state pen
tentiary not to exceed ten years or 10y
| both such fine and imprisonment in the
| discretion OF the court
| Sec. 23. Refusal To Permit Inspection
| Effect Of-Whenever any cIhcer ~
| charge Of a bank shall refuse 70 submit
! the books, papers and concerns OF such
/ bank 10 the inspection OF the pobhc eN-
aminer. his deputy, or examiner appointed
! hereunder, or refuses to be examined on
oath touching the concerns OF the BANK,
the public examiner IS hereby authorized
to take charge Of such bank and TO "ihd
sec 2f Perjury-TIow Committed
4 Penalty--EVery officer or employe or any
/ bank required by law 20 take oath or ar
affirm falsely upon any material matter.
I shall be deemed guilty Of perjury, anQ
/ upon conviction thereof. shall be punished
as provided by the laws OF TINS state ioi
! the punishment OF perjury
Sec %. When Organized as Natlonal
/ Banlls--Any bank organized under TINS
act may reorganize under the laws OF the
4 United states as rational bank As soon
/ as such bank shall have obtained the GER
/ tidcate from the comptroller OF the cur
rency. authorizing it TO commence bust
such reorgauized bank shall take and
/ hold all the assets. real and personal, OF
/ such hank organized under this act, sub
/ iect to all liabilities existing against salu
| bank organized under this act, at the
| time of such reorganization; and shan
/ Immediately notify the public examiner
/
| Sec 26. National Banks May Reorgan-
| ize as State Banks-Any national bank
| authorized TO dissolve, and which SHAH
1 have taken the necessary steps 10 erect
dissolution, may reorganiZe under this act
| upon the consent in writing OF the owners
| of two thirds Of the capital stock Of such
bank. and with the approval Of the pub
! lie examiner. Such stockholders shall
make execute and acknowledge articles
| of incorporation as required by this act
! and shall set forth the said written con-
s.F- ,-s, hold tNna
| Of said articles, as provided by this act
/ and upon the approval OF the pubic eN-
| aminer such bank shall be deemed 70 be
| reorganized under this act, and thereupon
/ an assets, real and personal of such dis
| solved national bank shall be vested in
| and be and become the property Of such
| rcorGanl&eu banki Subject 70 an ll lbiiitl lts
| Of such national bank not liquidated be-
| fore such reorganization.
Sec o. Consolidation Of Ranks-Con-
sent Necessary--A bank, which is in good
| faith winding up its business may for
| such purpose consolidate with some other
| bank IN the same town by transferring
It's resources and liabilities to such bank
| with which il Is In process OF cOnsolida-
| ton but no consolidation shall be made
| without due notice in writing Of such in
tention, 10 the public examiner. and not
| then until q thorough examination has
been made by him and his consent in
| writing obtained. provided that in no case
| may a bank consolidate Tor the purpose
Of defeating or defrauding any of the
debts, or either of them.
Sec. 2s. Voluntary Liquidation-Disso-
lution-Any bank may voluntarily hqui-
| date by paying off all OF it's depostors in
| full. and upon filing n certified statement
| with the public examines setting forth
| the fact that all it's liabilities have been
| paid: provided, however, that II any La
| bilities OF such bank remain unliquidated
| and the person or persons entitled to re-
ceive payment thereon have not been To-
| Gated. the bank shall publish notice for
tnr5 tixyn A.
| per published in the town or county in
| which such bank is located, 10 the cred
tors thereof, OF its intention to liauidate
and IL any liabilities remain unliquidated
subsequent to such publication of notice,
such bank shall file with the public exam
ner certified list of the names and last
| known addresses of such persons entitled
to receive payment thereon, and shall de-
| posit with the public examiner a sum
sufficient to liduidate such liabilities, after
which II shall be considered that such
liabilities have been llquidated. The funds
so received by the public examiner shall
be handled In the manner prescribed for
making disposition OF unclaimed deposits
| or dividends in insolvent banks
Any corporation transacting a banking
business under this act may be dissolved
by the circuit court OF the county II
which its place of business Is located. IL
the following manner: A verified petition
shall be filed in the office OF the clerk o.
said court. signed by the president or 9
| majority OF the board of directors. set
ting forth that stockholders representing
two thirds of the amount of stock of suci
association have adopted n resolution IA
voring such dissolution. and directing ths
proceedings TO be instituted for that pur-
pose, copy of which resolution shall SCI
forth that all claims and demands against
such association have been paid and dis
charged; and therenpon notice shall bs
published for the time and in the manner
prescribed by law for service by publ
cation Such notice shall state the nam,
Of the court in which the petition has beer
filed, the substance and purpose thereof
and that unless objections are filed thereto
on or before time to be stated, which
shall not be less than forty-one days from
the first publication, the relief prayed fol
will be granted. A copy OF such notice
shall be sent to the public examiner with.
in ten days after the first publication
thereof, and he shall, within thirty day.
thereafter make a thorough examination
of the affairs of such bank and file GER
titled copy OF his report with said petit
ton.
Any creditor or stoclSholdcr may, on oi
before the time fixed by the notice, filC
written objections to the dissolution o.
tions thereto. IL any, shall stand for hear
ing the same as a civil action: and Il
upon the hearing thereof the court shall
be satisfied that the petition is true, anC
that there Is no valid objection to the dis.
solution of such corporation. ii shall rem
der judgment dissoiving the same, ano
the officers Of such hank shall at once
| forward to the public examiner for the
files OF his office copy of such judgment
so rendered, properly certified by the
clerk of the court within and for the
| county in which such bank opera ted.
Sec. 30. Banks May be Placed in the
| Hands of Public Examiner-Any banl
doing business under this act. may place
its affairs and assets under the ccntro
of the public examiner by posting a no
| tice on its front door as follows "Thi;
bank is In the hands of the public examin-
err Immediately upon posting such no
tice such bank shall notify the public
| examiner OF such action. The posting o.
such notice or taking possession of any
bank by the public examiner, shall be suf-
hcient to place all its assets and property
OF whatever nature in the possession O.
the public examiner. and shall operate
as bar to any attachment proceedings
and any attachment lien against suci
property, acquired within thirty days
next preceding the taking of such posses
sion by such examiner shall be thereby
released and dissolved
For each and every day the public ex-