Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1916-10-21

NIT such report, the public examiner IL
hereby authorized to institute proceedings
for the recovery OF such forfeiture.
Sec. 21. Books and Accounts-fofrns Ms
Prescribed-Whenever Ii shall appear TO
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 shaIl
have the power to require the ofncers or
any OF them 10 open and keep such Dooks
or accornts as he may in his discretion
determine and prescribe for the purpose
of keeping accurate and conyenient rec
ords of transactions and accounts or such
bank in permanent form. Any pank
that refuses or neglects to open ana keep
such books or accounts as may be pre-
scribed or required by the public exam
inea snail be subject TO penalty OF ten
dollars for each day II neglects ana fails
10 open and Keep such prescribed books
and accounts, and the public examiner
is hereby authorized TO institute proceed
ings for the recovery OF such forfeiture.
Sec. % Making False Statement Mace
Felony-Any banker, officer. director
or employe CT any bank who shall sub
scribe to or make or cause TO be made,
any false statement or false entry m the
books OF any bank, or shall subscribe 70
or exhibit false papers, with intent 70
deceive any person or persons authorized
TO examine into the affairs OF said bank,
or shall make, state or publish any false
report or statement of any such bank,
shall be deemed guilty of n felony ana
upon conviction thereof shall be punished
by a fine not to exceed five thousand dol
lars, or by Imprisonment in the state PEN
itentiary not 10 exceed ten years, or by
both such fine and Imprisonment in the
discretion of the court.
Sec. 2s. Refusal To Permit Inspection
Effect Of-Wheneyer any ofncer IN
charge OF bank shall refuse TO submit
the books, papers and concerns OF such
bank TO the inspection of the public 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 authorizaG
to take charge Of such bank and to wind
up it's affairs.
sec "a. Perjury-How Committed
Penalty-Every officer or employe OF any
hank required by law TO take oath or at-
firmation, or who shall wilfully swear OF
shall be deemed guilty Of perjury, and
upon conviction thereof, shall be punished
as provided by the laws Of this state foi
the punishment OF perjury,
Sec g. When Organized as National
Banks--Any bank organized under this
act may reorganize under the laws Of the
United States as a national bank As soor
as such bank shall have obtained the cer-
tihcate from the comptroller OF the cur
rency, authorizing Il 10 commence busl-
ness under the United States banking law
such reorganized bank shall take ant
hold all the assets, real and personal, o.
such hank organized under this act, sub
ject to all liabilities existing against saic
bank organized under this act, at tht
time Of such reorganization; and shal
Immediately notify the public examiner
OF such reorganization and transfer
Sec. 49, National Banks May Reorgan-
ize as State Banks-Any national banl
authorized TO dissolve. and which shall
have taken the necessary steps TO effec
dissolution. may reorGanize under this act
upon the consent in writing OF the owners
OF two-thirds OF the capital stock Of sucl
bank. and with the. approval "A the pub
ic examiner. such stockholders shal
make, execute and acknowledge articles
of Incorporation as required by this act
and shall set forth the said written con
sent of such stockholders Upon the films
of said articles. as provided by this act
and upon the approval OF the public eX
aminer, such bank shall be deemed to b'
reorganized under this act, and thereupor
all assets. real and personal, OF such dis
solved national bank shall be vested il
and be and become the property of sucl
reorganized bank, subject to all liabilities
OF such national bank not liquidated be-
fore such reorganization.
Sec. 81. Consolidation OF Banks-Con-
sent Necessary-A bank, which is in goot
faith winding up its business may fol
such purpose consolidate with some othel
bank In the same town by Transferring
It's resources and liabilities TO such banl
with which Il Is IN process of consoida
tion, but no consolidation shall be made
without due notice in writing OF such in
tention, to the public examiner, and moi
then until a thorough examination has
been made by him and his consent In
writing obtained. provided that in no case
may bank consolidate for the purpose
OF defeating or defrauding any OF the
creditors thereof in collection OF then
debts, or either OF them.
Sec 2s. Voluntary Liquidation-Diss
lution--Any bank may voluntarily liqui-
date by paying OFF all OF its depositors in
full, and upon filing a certified statement
with the public examiner setting fortf
the fact that all Its liabilities have beer
paid; provided, however. that IL any liza.
biities of such bank remain unliquidateC
and the person or persons entitled to re.
ceive payment thereon have not been To-
Gated, the bank shall publish notice fol
ten consecutive weeks. in some newspa-
per published in the town or county In
which such bank Is located, to the cred
itors thereof, OF its intention to hquidats
and II any liabilities remain unliquidatet
subsequent to such publication of notice
such bank shall file with the public exam
iner q 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 sun
sifficient to liquidate such liabilities, after
which it shall be considered that sucf
liza bilities have been liquidated. The fund:
so received by the public examiner shal
be handled in the manner prescribed foi
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 it's place of business is located, II
shall be filed in the office of the clerk o
said court, signed by the president or
majority of the board of directors. set.
ting forth that stockholders representing
two thirds of the amount OF stock OF sucf
association have adopted a resolution IA
voring such dissolution. and directing IN,
proceedings to be instituted for that pur-
pose, a copy of which resolution shall SCI
forth that all claims and demands against
such association have been paid and dis
charged; and thereupon q notice shall bt
published for the time and in the manner
prescribed by law for service by publ.
cation Such notice shall state the name
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 n time to be stated, which
shall not be less than forty-one days from
the first publication, the relief prayed foi
will be granted A copy of such notice
in ten days after the first publication
thereof and he shall. within thirty days
thereafter make a thorough examination
OF the affairs OF such bank, and file n GER
titled copy OF his report with said petit
ton.
Any creditor or stockholder may, on OF
before the time fixed by the notice, file
written objections to the dissolution OF
tions thereto, II any. shall stand for hear
Ing the same as civil action: and ii
upon the hearing thereof the court shall
be satisfied that the petition is true, and
solution OF such corporation, 1t shall rem
der Judgment dissolving the same. and
the officers Of such bank shall at once
forward to the public examiner sor 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 operated
Sec. 29. Banks May be Placed in the
Hands Of Public Examiner--Any bank
doing business under this act. may place
its affairs and assets under the control
OF the public examiner by posting no.
tice on its front door as follows ''This
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 OF
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 tho possession OF
the public examiner, and shall operate
as bar to any attachment proceedings.
and any attachment lien against such
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..