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

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examiner, shall receive no compensation
for their services, but they shall be paid
their actual and necessary expenses in
Cured in the performance OF their duties,
the same to be paid out Of the general
shall be chairman OF said commission
Said commission shall have the super
vision and control OF the peposi'prs'
Guaranty Fund and shall have the power
10 adopt all necessary rules and regula-
tions, not inconsistent with the law. for
the management and administration of
said fund II vacancies shall at any time
occur in said comnission, the governor
hall fin the same by appointment as here
matter provided.
Sec 3. Public Examiner, Deputy Pub
lie Examiner. Attorney, Examiners Spe-
cial Examiners, Examiners in Charge,
clerks Appointments--Com Compensation
Expenses The public examiner shall
be appointed by the Governor by 9nd with
The advice and consent OF the senate and
shall hold office for the term Of four
years and until his successor shall have
been appointed and qualified, unless soon
er removed by the governor for good
cause The public examiner may, by and
with the consent and approval Of the gov
ernor appoint a deputy, and an attorney
70 assist him in the discharge of the
duties imposed by the provisions Of this
act and he may revoke such appointments
at pleasure, providing that no person
shalt be eligible for the office Of public
examiner or deputy, without first having
had at least three years actual practical
experience in the general banking busi-
ness or served for a like period in the
banking department of this or some other
state.
such deputy shall possess all the pow
ers, ard perform the duties attached TO
the office Of the public examiner during
a vacancy in such office and during the
absence or inability Of his principal
such attorney shall be q regularly adj
mitted practitioner at law before the bar
4 Of the state He shall render 70 the pub
! lie examiner deputy public examiner ey-
aminers, special examiners. examiners in
! Guaranty Fund Commission, and to all
I employees OF the department. legal advice
on all questions arising out Of the per-
! formance OF their several duties as de-
+ lie examiner and shall, under the
direction Of The puolic examiner
1 Of any and ali litigation in any
| manner connected with the Department Of
| Banking and Finance or any of the Of
! ficers or employees thereof as such. He
/ shall also, under the direction of the pub
! lie examiner have supervision OF any
and all actions commenced by the public
/ examiner or that may be brought against
/ the public examiner in connection with
/ the liquidation OF the assets of any in
/ solvent bank or trust company in his
/ possession; but nothing herein contained
| shall prevent the public examiner from
employing other counsel TO take charge
| of or assist In the preparation and trial OF
/ cases in connection with the liquidation
/ Of the assets of any insOlvent institution
The public examiner may also employ
/ from time to time with the consent and
! approval of the governor such eXamln-
/ ers. speciaI examiners, examiners in
! charge. and clerks as he shah deem
! necessary to assist him, his deputy, and
1 his attorney in the discharge of the sew
eral duties imposed upon them by this
act.
I Tine salary of the public examiner shall
I be thirty Five hundred dollars per annum; ;
/ the salary OF the deputy shall be twenty
/ four hundred dollars per annum; the sal
/ ary Of the attorney shall he three thou
sa nd dollars per annum. The salary Of
examiners shah be not to exceed two
! thousa nd dollars per annum, and the SAL
airy OF special examiners shall be not 10
/ exceed fifteen hundred dollars per an
num- each Of which shall be fixed by the
/ public examiner The salary of the ex-
/ sminers in charge shall be fixed bv the
public examiner as hereinafter provided
and the salary Of such clerks as may be
/ employed shan pc al such rate per an
mum as the public examiner shall decide
not however, to exceed thirteen hundred
! fifty dollars for one, and one thousand
dollars for any other. Provided. that no
public examiner. his deputy. attorney or
/ any of his examiners, special examiners
or examiners in charge. shall be a stock
I holder or in any manner interested in
any bank or trusi company. The salaries
Of the public examiner, deputy, attorney,
! examiners, special examiners and clerks
hall be paid mon hly by the state. out
! or lne tTtnefal 4 una OF lle state, except
the salaries OF clerks which shall be paid
| from the public examiners Contingent
! Fund, upon vouchers countersigned by the
/ state auditor. Vouchers for the deputy's,
! attorneys, examiners, special eXamin-
ers', and clerks salaries must first be
approved by the public examiner.
Al actual and necessary expenses Of
said public examiner, deputy, attorney.
| examiners, special examiners, or clerks.
! incurred in the discharge of their duties,
| shall be paid by the state and shall be
/ ifan yan n nd
! certified to the state auditor. II allowed
the state auditor shall issue his warrant
and the State Treasurer shall pay the
amount of such expenses out of the public
examiners Contingent Fund.
Within fifteen days from the notice
! or their appointment respectively, the
! public examiner deputy, attorney ex-
| aminers and special examiners shall take
| and subscribe the oath of office pre-
| scribed by the constitution, and each shall
] give to the people of the state surety
company bond, to be approved by the
| governor, conditioned upon the faithful
/ discharge of the duties OF their respective
! offices, N the following sums, to-wit:
! The public examiner, twenty-five thou
sand dollars; the deputy public examiner,
twenty-five thousand dollars, the attorney,
ten thousand dollars; the examiners, ten
| thousand dollars; and special examiners,
| five thousand dollars; the premiums
thereon to be paid out of the public ex-
aminers Contingent Fund. Said oaths OF
! office and bonds to be filed with the sec
retary Of state.
Sec. 4 seal-The public examiner
shall have seal of the office containing
Dakota" in the form of circle, and the
word Seal within the circle
Sec. s. Powers Conferred on the Pub
lie Examiner 1t shall be the duty of
| the public examiner, and he shall have
he power by himself, his deputy, or by any
examiner he may appoint for that pur-
year, the cash, bills, collateral, securities,
books OF account, condition, and affairs of
each bank and trust company doing bust
ness IN this state. except national banks.
and shall ascertain whether such bank
or trust company transacts its business
at the place designated in the articles of
| incorporation, and whether its business IS
conducted in the manner prescribed by
law
For such purposes, he may Issue sub
2oenas requiring the attendance St such
time and place as he may designate, OF
any witnesses he may deem necessary TO
! a proper investigation of the condition of
such banks or trust companies; administer
oaths and examine such witnesses under
| oath, touching the affairs and business OF
sucn institution; and may require for his
I inspection the production OF the original
or copy OF all mortgages, collateral
pledges, and evidence Of the recording or
/ filing thereof the case may be IN
case Of any refusal 70 obey subpoena
| issued in accordance with the above pro-
visions, such refusal shall al once be re-
ported TO the circuit court of the circuit
in which the institution is located and
the said court shall enforce obedience 20
sueI subpoena i'm the manner provided by
law for enforcing obedience to the sub
Doenas of said court. A witness fee Of
two dollars per day and five cents per
nile for each mile actually and necessa-
rily Travelled, shall be paid to each wit
moss and such fee and mileage shall be a
proper charge against the assets OF such
institution. PAYABLE therefrom immediate
y upon the order of the examiner
The public examiner shall examine or
cause TO be examined, any bank or trust
company, whan requested so to do Dy The
board OF directors OF such bank or trust
company and when an examination Is
made upon such request, in addition 10
the regular fee prescribed, such bank or
trust company shall pay all Incidental
expenses in connection Herewith.
Sec. s Fees for Examination. Each
bo, nd II, IA