The Miller press. [volume] (Miller, S.D.) 190?-current, 1922-10-26

Industrial Commission in that regard
shall be binding upon the assignee OF such
mortgage; provided. however, that after
assignment OF such mortgage xten sions
OF payments for a yearly period shall be
limited In total number TO not more than
one for every period OF five years or
fraction thereof during which such mort
ment.
Section 81. Every such mortgage. to-
gether with the note or other obligation
upon order OF the Industrial Commission
shall be assigned. to the State Treasurer
OF the State OF South Dakota as security
for bends to be issued by the State as
provided by law In case OF such as
signment all payments due upon said
note or other obligation shall be- made TO
by him received shall be by him held or
dfsbursed as may be provided by law. IL
while any such mortgage SO assigned TO
the State Treasurer is In his hands, the
note or obligation thereby secured shall
have been fully paid. the State Treas
urer shall so certify to the Manager OF
the Bank. who shall thereupon proceed TO
satisfy said mortgage in the same man
ner as though said note or other obliga-
ton had been paid directly TO the bank.
In case OF such assignment to the State
treasurer OF any such mortgage, the pro-
visions contained in Section 10 OF this
Act, respecting extensions on account OF
crop failure. shall be effective and shall
Section 80. The powers and duties OF
the Rural Credits Commission shall be
assumed as speedily as possible by the
Section 80. All business OF the bank
may be conducted under the name OF
The Bank OF South Dakota" Title 10
property pertaining to the operation OF
the bank shall be obtained and conveyed
IN the name OF The State OF South Dak-
2ta, doing business as the Bank of South
Dakota. Written instruments shall be
executed In the name of the State OF
South Dakota, signed by any two mem
bers OF the Industrial Commission, Of
whom the Governor shah be one, OF by
the Manager of the Bank OF South Da.
kota within the scope of his authority so
to do as defined by the Industrial Com
Section "a. Civil actions may be brought
against the State of, South Dakota on
account OF causes of action claimed TO
nave arisen out or transactions connect
cd with the operation of the Bank Of
south Dakota, upon condition that the
provisions Of this section are complied
with. In such actions the State shall be
designated as THE state of South pa
kota doing business as the Bank of South
Dakota, and the service OF the process
therein shan be made upon the Manager
brought in the same manner and shall
be subject to the same provisions of law
as other civil actions brought pursuant to
the provisions of the Code of Civil Pro-
cedure. Such actions shall be rought.
however. in the county where the Bank
OF South Dakota shall nave it's principal
RitSS. VI III
Section IS. The State Examiner shall
personally or through deputy examiners
visit the Ia Of South Dakota at least
twice annually, and shall inspect and
verify the assets in it's possession and
under its'control, with sufficient through
ness of investigation to ascertain with
reasonable certainty whether the valua-
lions are correctly carried on it's books.
lie shall Investigate its methods Of opera
lion and accounting. lie shall report the
results Of each such examination and
investigation to the Industrial Commits
sion as soon. as practicable, and to the
Legislature at its next ensuing session
and to the Guaranty. Fund Commission
Section SO. There is hereby appro-
priated out of the general funds OF tho
state. not otherwise, appropriated, one
hundred thousand dollars or so much
thereof as may he necessary. to carry out
the provisions OF this Act. This appro-
p%riation is hereby made available inn
mediately upon the passage and approval
Of this Act. The Industrial Commission
shall out OF the earnings of the bank
make provision for accommodating a fund
WITH which TO replace in the general fund
OF the State. the amount received by the
Commission under this approximation. az
may be directed by the Legislature.
Section 81. All Acts and parts OF Acts
inconsistent with this Act are hereby
repealed. 1890
Approved March 10. 1921.