| Relating to 
 
 BANKS, TRUST COMPANIES 
 SAFE DEPOSIT COMPANIES 
 | DEPOSITARIES, LOAN 
 | COMPANIES and DEALERS 
 
 IN SECURITIES © 
 
Compiled under supervision of 
 Department of Banks, 1915. 
 
 HARRY T. HALL 
 
 Superintendent 
 
O h 1d, Laws, Sratvres: eit 
 U — 3: 
 
 LAWS OF OHIO 
 
 Relating to the incorporation, examination 
 management, and conduct of 
 
 BANKS, TRUST COMPANIES 
 
 SAFE DEPOSIT COMPANIES 
 
 DEPOSITARIES, LOAN 
 
 COMPANIES and DEALERS 
 IN SECURITIES 
 
 CotuMBus, OuI0: 
 Tue F, J. Heer PrInTING Co. 
 1915 
 
 Bound at the State Bindery. 
 
SUPERINTENDENT OF BANKS. 
 
 SECTION 710. The governor, with the advice and con- 
 sent of the senate, shall appoint a superintendent of banks, 
 who shall hold his office for the term of four years and 
 until his successor is appointed and qualified. The super- 
 intendent may be removed by the governor at any time. (99 
 vy. 287 Sec. 78.) 
 
 SECTION 711. The superintendent of banks shall exe- 
 cute the laws in relation to banking companies, savings 
 banks, savings societies, societies for savings, savings and 
 loan associations, savings and trust companies, safe deposit 
 companies and trust companies and every other corporation 
 or association having the power to receive, and receiving 
 money on deposit, chartered or incorporated under the laws 
 of this state. Nothing in this chapter contained shall apply 
 to building and loan associations. (99 v. 287 Sec. 79.) 
 
 SECTION 712. The superintendent of banks may em- 
 ploy from time to time necessary deputies, assistants, clerks 
 and examiners to assist in the discharge of the duties im- 
 posed upon him by law. He may remove any such deputies, 
 assistants, clerks or examiners. He shall summarily remove 
 the deputy superintendent of banks, and any examiner, 
 clerk or deputy connected with the department of the super- 
 intendent of banks upon the violation by any such officer, 
 examiner or clerk of any of the provisions of section 717 
 _ of the General Code. (106 v. 360 Sec. 1.) 
 
 SECTION 713. The superintendent of banks shall fix 
 the salaries of the deputies, assistants, clerks and examiners 
 at stich rates per annum as the governor approves. Upon 
 vouchers approved by the superintendent of banks, such 
 salaries shall be paid monthly by the treasurer of state upon 
 the warrant of the auditor of state. (101 v. 276 Sec. 1.) 
 
 SECTION 714. The actual and necessary, traveling ex- 
 penses, within or without the state, of the superintendent of 
 banks and of the deputies, assistants, clerks and examiners 
 incurred in the discharge of their official duty or in the 
 interest of the department, shall be paid monthly by the 
 treasurer of state upon the warrant of the auditor of state. 
 Provided, however, that the superintendent of banks or any 
 employe of the department shall not attend, at state expense, 
 outside of the state, the meetings or conference of any so- 
 ciety, convention or association, except as provided by sec- 
 tion 2313-3 of the General Code. Vouchers therefor shall 
 be fully itemized, approved by the superintendent of banks 
 a ae ae by the auditor of state. (106 v. 360 
 een 1: 
 
 3 
 
 Superin- 
 tendent of 
 banks, ap- 
 pointment 
 and term. 
 
 General 
 duties. 
 
 Deputies, 
 clerks and 
 examiners}; 
 appointment 
 and removal. 
 
 Salaries of 
 clerks and 
 examiners. 
 
 Traveling 
 expenses. 
 
Expenses paid 
 from appro- 
 priation. 
 
 Bonds of 
 Superintend- 
 ent, deputies, 
 assistants, 
 clerks and 
 examiners. 
 
 Superintendent 
 nor examiners 
 shall be in- 
 terested in, or 
 borrow money 
 from banks. 
 
 Certificates 
 and copies; 
 evidence. 
 
 Office. 
 
 Official seal. 
 
 How proceed- 
 ings shall be 
 brought. 
 
 4 
 SECTION 715. All expenses incurred by the superin- 
 tendent of banks in the performance of the duties imposed 
 upon him by law, including the salary of such superintend- 
 ent, his deputies, assistants, clerks and examiners, shall be 
 paid from funds appropriated therefor. (101 v. 276 Sec. 1.) 
 
 SEcTION 716. Before entering upon the discharge of 
 his duties, the superintendent of banks shall give bond to 
 the state in the sum of fifty thousand dollars with sureties 
 approved by the governor, conditioned for the faithful dis- 
 charge of his official duties. Such bond, with the approval 
 of the governor and the oath of office indorsed thereon, shall 
 be filed with the secretary of state and kept in his office. 
 The superintendent of banks shall require all deputies, as- 
 sistants, clerks and examiners heretofore mentioned to give 
 bond in such amount and with sureties to be approved by 
 him and conditioned on the faithful performance of the 
 duties of their offce or employment. If the surety be a 
 qualified surety company, the premium on such bond or 
 bonds, including the bond of the superintendent of banks, 
 shall be paid out of any fund or funds for the contingent 
 expenses of the department. (106 v. 360 Sec. I.) 
 
 SecTion 717. Neither the superintendent of banks nor 
 the examiners appointed by him shall be interested directly 
 or indirectly in any national banking association or in any 
 bank or other corporation or association under their super- 
 vision, or be engaged in the business of banking. Neither 
 the superintendent of banks, the deputy superintendent of 
 banks, or any examiner, deputy or clerk connected with the 
 department of the superintendent of banks shall directly or 
 
 indirectly borrow money from any corporation, person or 
 
 association under the supervision of the superintendent of 
 
 banks. (103 v. 379 Sec. 12.) 
 
 Section 718. Each certificate or other instrument 
 executed or ordered made by the superintendent of banks 
 in pursuance of authority conferred upon him by law, and 
 sealed with the seal of his office or copies thereof duly 
 authenticated under such seal, shall be received in evidence 
 in all courts of the state. (99 v. 288 Sec. 89.) 
 
 SEcTION 719. The superintendent of banks shall be 
 furnished by the state suitable rooms at the seat of govern- 
 ment for conducting the business of his office. (99 v. 288 
 Secs0,) 
 
 SEcTion 31. The seal of the superintendent of banks 
 shall be one and three-fourths inches in diameter and shall 
 be surrounded by the words: “The superintendent of banks 
 of the state of Ohio.” (104 v. 175 Sec. I.) 
 
 SEcTION 732. All suits or proceedings brought by the 
 superintendent of banks under authority of law, or to col- 
 lect any penalty or forfeiture, shall be brought in the name 
 of the state upon his relation, and shall be conducted under 
 
5 
 
 the direction and supervision of the attorney general. (99 
 Wet2Gr ec, 02, ) 
 
 SECTION 733. Copies of all records and papers in the 
 office of the superintendent of banks, certified by him and 
 authenticated by his seal of office, shall be evidence in all 
 cases equally and with like effect as the original. (99 v. 
 B.2901 Sec. 103.) 
 
 SECTION 2250. The salary of the superintendent of 
 banks shall be five thousand dollars per annunm. (106 v. 6.) 
 
 SEcTION 2260. The salary of the superintendent of 
 _ banks shall be payable semi-monthly. (65 v. 3 Sec. 1.) 
 
 SECTION 743. At the end of each fiscal year, the su- 
 perintendent of banks shall make an annual report to the 
 governor, which report shall exhibit: 
 
 a. A summary of the state and condition of every 
 incorporated bank, savings bank, savings and trust com- 
 _ pany, safe deposit and trust company, society for savings, 
 savings society, or other corporation included within this 
 chapter, from which reports have been received during the 
 year, with an abstract of the whole amount of capital re- 
 turned by them, the whole amount of their debts and liabili- 
 ties, the total amount of means and resources, separating the 
 reports of the various kinds of corporations, and specifying 
 the amount of lawful money held by them at the time of 
 their several returns, and such other information in relation 
 to such banks, societies and associations as in his judgment 
 may be required ; 
 
 b. A statement of the banks, societies or associations 
 whose business has been closed during the year, the amount 
 of their resources and liabilities, and the amount paid to 
 the creditors thereof ; 
 
 _¢. The names and compensation of the deputies, as- 
 sistants, clerks and examiners employed or appointed by 
 him, and the whole amount of expenses of the banking de- 
 partment during the year; 
 
 d. The amount of fees and charges received from 
 such banks, societies and associations, and penalties col- 
 lected and paid into the state treasury. d 
 
 ce. A statement of the banks, societies or associations 
 liquidated or in process of liquidation by the superintend- 
 ent of banks, and the status of affairs of each of said 
 banks, societies or associations at the time of said report, 
 including the amount oftheir resources and liabilities and 
 the nature of the same and the amounts paid the creditors. 
 (1o1 v. 276 Sec. 1.). 
 
 EXAMINATIONS. 
 
 SECTION 720. In case a corporation, company, society 
 
 Copies of 
 records and 
 papers evi- 
 dence, 
 
 Salary of su- 
 perintendent. 
 
 When payable. 
 
 Annual 
 report. 
 
 Expenses of 
 
 or association requests the superintendent of banks to make special ex 
 
 a special examination under the provisions of this chapter, 
 
 amination. 
 
Examination 
 upon request. 
 
 Restrictions 
 as to com- 
 pensation. 
 
 Annual . 
 examination 
 of banks. 
 
 Superintendent 
 or examiner 
 may admin- 
 ister oaths. 
 
 May summon 
 witnesses. 
 
 Proceedings 
 for refusal 
 
 to attend and 
 testify. 
 
 6 
 
 the expenses thereof shall be paid by the corporation, com- 
 pany, society or association making the request. (99 v. 289 
 Sec. 92.) 
 
 SECTION 721. When requested in writing upon the 
 authority of the board of directors or the stockholders of 
 any banking institution to make an examination of such 
 bank, the superintendent of banks shall comply therewith, 
 if in his opinion such examination is desirable. (99 v. 289 
 DEG: .O3.) 
 
 SECTION 723. Neither the superintendent of banks nor 
 any examiner, clerk or person employed in his office shall 
 take or receive directly or indirectly compensation for serv- 
 
 ices or extra services rendered in the banking department 
 
 other than that allowed by law. (99 v. 289 Sec. 95.) 
 
 SECTION 724. At least once each year and as often as 
 the superintendent of banks may deem necessary, and also 
 when requested by the board of directors or trustees thereof, 
 the superintendent of banks or an examiner appointed for 
 that purpose shall thoroughly examine the cash, bills, col- 
 laterals or securities, books of account and affairs of each 
 bank, savings bank, safe deposit and trust company, savings 
 and loan society or association incorporated under any law 
 in this state, or any person, partnership or association engag- 
 ing in the business of receiving deposits. Provided, how- 
 ever, that this section shall not apply to building and loan 
 associations. He shall also ascertain if any such person, 
 partnership, corporation, company, society or association 
 is conducting its business in the manner prescribed by law 
 and at the place designated in its articles of incorperation, 
 if incorporated. (106 v. 360 Sec. 1.) 
 
 SEcTION 725. For the purpose of such examination, 
 the superintendent of banks or such examiner may ad- 
 minister oaths to and examine any officer, agent, clerk, cus- 
 tomer, depositor or shareholder of such corporation, com- 
 pany, association or society touching its affairs and business. 
 
 (99 v. 289 Sec. 96.) 
 
 SEcTION 726. The superintendent of banks may sum- 
 mon in writing under his seal any such officer, agent, clerk, 
 customer, depositor, shareholder or any person resident of 
 the state to appear before him and testify in relation there- 
 to. Whoever, being so summoned, neglects or fails to ap- 
 pear at the time and place specified in the summons, or, 
 having appeared, refuses to be sworn or refuses to answer 
 any pertinent and legal question, shall forfeit and pay one 
 hundred dollars to be recovered with costs by the superin- 
 tendent of banks and paid into the state treasury to the 
 credit of the banking fund. (99 v. 290 Sec. 97.) 
 
 Section 727. If a person summoned to appear before 
 the superintendent of banks and give testimony under the 
 provisions of this chapter neglects or refuses to answer any 
 pertinent or legal question that may be put to him by the 
 
 a 
 
a 
 
 superintendent touching the matter under examination, the 
 
 superintendent shall apply to the probate court or court of 
 insolvency of the county in which such inquiry is conducted 
 to issue a subpoena to such person to appear before him. 
 
 (99 v. 290 Sec. 98.) 
 
 SEcTION 728. Upon such application, the probate judge 
 or judge of the court of insolvency shall issue a subpoena 
 for the appearance of such person or persons forthwith be- 
 fore him to give testimony. Whoever, being so subpoenaed, 
 fails to appear, or appearing, refuses to testify, shall be sub- 
 ject to like proceedings and penalties.for contempt as wit- 
 nesses in actions pending in the probate court or court of 
 insolvency. (99 v. 290 Sec. 98.) 
 
 SECTION 729. The officers of any such corporation, 
 company, society or association shall submit its books, 
 papers and concerns to the inspection and examination of the 
 superintendent of banks or any deputy, or duly appointed 
 examiner, and on refusal so to do or to be examined on oath 
 touching the affairs of such corporation, company, society 
 or association, the superintendent of banks may forthwith 
 take possession of the property and business of such corpo- 
 ration, company, society or association and liquidate its 
 affairs and remain in possession of- its property, and busi- 
 ness until its affairs be finally liquidated, as hereinafter 
 provided. (101 v. 276 Sec. 1.) 
 
 SECTION 730. Whenever it appears from the report of 
 such corporation, company, society or association, or the 
 superintendent of banks has reason to believe that its cap- 
 ital is impaired or reduced below the amount required by 
 law, he shall make examination thereof and ascertain the 
 facts. If he finds such impairment or reduction of capital, 
 he shall require such corporation, company, society or as- 
 ee to make good such deficiency. (99 v. 291 Sec. 
 IOO. 
 
 _ SeEcTION 731. If such corporation, company, society 
 or association refuses or fails after written notice to make 
 good the deficiency appearing or found to exist, the super- 
 intendent of banks may forthwith take possession of the 
 property and business of such corporation, company, 
 society or association until its affairs be finally liquidated by 
 him, as hereinafter provided. (1or v. 276 Sec. 1.) 
 
 SEcTION 734. All examinations required to be made 
 by the superintendent of banks under the provisions of this 
 chapter shall be made without previous notice to the corpo- 
 ration, company, society or association to be examined. 
 
 (99 v. 291 Sec. 104.) 
 
 SECTION 735. When an examination is made at the 
 special instance and request of such corporation, company. 
 society, or association, the expense incurred and the ser- 
 vices performed shall be paid by the one examined, and the 
 
 Penalty. | 
 
 Duty of off- 
 cers as to 
 inspection 
 of books. 
 
 Deficiency to 
 be made } 
 good. : 
 
 Liquidation 
 in case of 
 insolvency. 
 
 Examinations 
 shall be made 
 without pre- 
 vious notice. 
 
 Expenses of 
 special ex- 
 amination, 
 
AnnuaJ fees 
 to be paid 
 
 on or before 
 November 15. 
 
 & 
 
 charges collected shall be paid into the state treasury by 
 the superintendent of banks to the credit of the banking 
 fund. (99 v. 291 Sec. 105.) ; 
 
 FEES TO BE PAID FO" THE SUPERINTENDENT 
 OF BANKS BY BANKING INSTITUTIONS. 
 
 SEcTION 736. That for the purpose of maintaining the 
 department of the superintendent of banks and the pay- 
 ment of expenses incident thereto, and especially the ex- 
 penses of inspection and examination, the following fees 
 shall be paid to the superintendent of banks of Ohio: 
 
 (a) Each company, firm, corporation, person, associa- 
 tion and co-partnership which under the laws of Ohio is 
 subject to inspection and examination by the superintendent 
 of banks, shall pay to the superintendent of banks on or 
 before the fifteenth day of November in each year the sum 
 of twenty-five dollars, and in addition thereto one one- 
 ninetieth of one per cent of the total aggregate resources of 
 
 - such company, firm, corporation, person, association or co- 
 
 Initia 
 fee. 
 
 Foreign trust 
 companies. 
 
 Penalty if not 
 
 paid on or be- 
 
 fore Nov. 15. 
 
 partnership in excess of-one hundred thousand dollars as 
 shown by the report of the condition of each such company, 
 firm, corporation, person, association or co-partnership made 
 last before October. fifteenth of such year; provided, how- 
 ever, that in no event is such total fee to exceed the sum of 
 twelve hundred and fifty dollars in any one year. 
 
 (b) Each company, firm, corporation, person, associa- 
 tion and co-partnership desiring and intending to transact 
 business in this state, which will be subject to inspection 
 and examination by the superintendent of banks, shall pay 
 to the superintendent of banks for the preliminary examina- 
 tion required by law to be made by the superintendent of 
 banks a fee of thirty dollars, such fee to be paid before a 
 certificate is granted to such company, firm, corporation, 
 person, association or co-partnership, authorizing it to com- 
 mence business in this state. 
 
 (c) Each foreign trust company desiring and intend- 
 ing to do business in this state shall pay to the superin- 
 tendent of banks a fee of fifty dollars for issuance to it of 
 a certificate authorizing it to transact business in this state. 
 Such fee to be paid before such certificate is issued (106 
 We 300. Se¢. i.) 
 
 SECTION 736-1. Every company, firm, corporation, per- 
 son, association or co-partnership which fails or neglects 
 to pay the fee provided by paragraph “a” of section 1 of 
 this act on or before the fifteenth day of November of each 
 year shall be subject to a penalty of one hundred dollars 
 for each day after said date that such fee remains unpaid. 
 The superintendent of banks shall maintain an action against 
 the delinquent company, firm, corporation, person, associa- 
 tion or co-partnership in the common pleas court of Frank- 
 lin county, Ohio, or of the county in which the business of 
 such company, firm, corporation, person, association or co- 
 
9 
 
 the collection of such fee and 
 
 partnership is carried on, for 
 (103. v. 180 Sec. 2.) 
 
 the penalty herein imposed. 
 
 SECTION 736-2. The superintendent of banks shall pay 
 all money received by him under the provisions of this act 
 into the state treasury to the credit of the general revenue 
 fund of the state. (103 v. 181 Sec. 3.) 
 
 REPORTS. 
 
 Section 737. Not less than four times during each 
 calendar year each banking coinpany, savings bank, savings 
 and trust company, safe deposit and trust company, society 
 for savings, or savings society, chartered or incorporated 
 under any law of this state, and every person or co-part- 
 nership doing a banking business shall make a report to the 
 superintendent of banks. Such report shall be made at 
 such times as required by the superintendent on forms pre- 
 scribed and furnished by him, and, so far as possible, they 
 shall be made on the same day on which reports are re- 
 quired from national banking associations by the comp- 
 troller of the currency. (99 v. 292 Sec. 108.) 
 
 Section 738. Such reports shall be verified by the 
 oath or affirmation of the president, vice-president, cashier, 
 secretary or treasurer thereof, and shall exhibit in detail, 
 and under appropriate heads, a true statement of the re- 
 sources, assets and liabilities of such banking company, 
 savings bank, society or association at the close of busi- 
 ness of any past day by him specified, which day shall-be 
 the same for all, corporations required to make such reports. 
 
 (99 v. 292 Sec. 109.) 
 
 SECTION 739. Such reports shall be transmitted to the 
 superintendent within ten days after the receipt of the re- 
 quest therefor from him, and shall be published in a news- 
 paper in the city, town or county where the company is lo- 
 cated, and, if there is none, then in a newspaper of gen- 
 eral circulation in an adjoining county. A copy of such 
 publication shall be furnished to the superintendent of 
 banks. (99 v. 292 Sec. II0.) 
 
 Section 740. The superintendent of banks may call 
 for special reports whenever in his judgment they are neces- 
 sary to inform him fully of the conditions of any com- 
 panies, societies and corporations, which reports shall be 
 verified as provided by this chapter for other reports to the 
 superintendent. (99 v. 292 Sec. III.) 
 
 SECTION 741. Every company, corporation, society or 
 association failing to make and transmit to the superintend- 
 _ ent of banks any of the reports required by this chapter, or 
 failing to publish the reports as required by law, shall forth- 
 with be notified by the superintendent, and, if such failure 
 continues for ten days after receipt of such notice, such 
 delinquent company, society or association shall be subject 
 
 oo 
 
 All fees 
 turned over to 
 treasurer of 
 state. 
 
 Reports of 
 banking com- 
 panies to the 
 superintendent 
 of barks. 
 
 How reports 
 shall he 
 verified. 
 
 Reports shall 
 be published 
 in newspapers. 
 
 Special 
 reports, 
 
 Penalty for 
 failure to 
 make reports, 
 
Constitution 
 of Ohio—1912. 
 
 Use of word 
 bank, banking, 
 etc., prohibited 
 unless super- 
 vision sub- 
 mitted to. 
 
 Detailed state- 
 ment. to be 
 filed with sec- 
 retary of state. 
 
 Information 
 to be filed. 
 
 10 
 
 to a penalty of one hundred dollars for each day after the 
 time required for making: such report. In case of delay 
 or refusal to pay the penalty herein imposed for failure to 
 make and transmit a report, the superintendent shall main- 
 tain an action against the delinquent company, society or 
 association, for the recovery of such penalty, and all sums 
 collected by such action or paid as such penalty shall be 
 paid into the state treasury to the credit of the banking 
 fund. (99 v. 292 Sec. 112.) 
 
 PRIVATE BANKS. 
 
 Const. Art, XIII, Sec. 3: (Last Paragraph.) 
 
 * * * No corporation not organized under the laws of this 
 state, or of the United States, or person, partnership or association 
 shall use the’ word “bank,” “banker” or “banking,” or words of 
 similar meaning in any foreign language, as a designation or name 
 under which business may be conducted in this state unless such 
 corporation, person, partnership or association shall submit to in- 
 spection, examination and regulation as may hereafter be provided 
 by the laws of this state. 
 
 a 
 
 SECTION 744-1. That no corporation not organized 
 under the laws of this state, or of the United States, or 
 person, partnership of association, shall use the word 
 “bank” “banker” or “banking” or “trust” or “trust com- 
 pany”, or words of similar meaning in any foreign language, 
 as a designation or name under which business may be con- 
 ducted in fhis state unless such corporation, person, partner- 
 ship or association shall submit to inspection, examination 
 and regulation, as provided in this act. The superintendent 
 of banks shall execute all laws in relation to corporations 
 organized under the laws of this state or of the United 
 States, persons partnerships and associations using the 
 word “bank”, “banker” or “banking”, or trust” or “trust 
 company”, or words of similar meaning in any foreign 
 language as a designation or name under “which business is 
 conducted in this state. (103 v. 379 Sec. 1.) 
 
 SECTION 744-2. Every corporation not organized under 
 the laws of this state, or of the United States, or person, 
 daa or association using the word “bank”, “banker” 
 
 “banking” or “trust” or “trust company” or words of 
 aie meaning in any foreign language as a designation 
 or name under which business may be conducted in this 
 state, now transacting or hereafter desiring to transact a 
 banking business in this state, shall, under oath file with 
 the secretary of state a full, complete “detailed statement of, 
 
 1. Name of the bank or proposed bank. 
 
 2. A copy of the articles of co-partnership or agree- 
 ment, under which the business of the bank is being or is 
 to be conducted, which shall be executed and acknowledged 
 by all of the parties interested therein, and at least one of 
 whom shall be at all times a resident of the state of Ohio. 
 If the banking business is being or is to be transacted or 
 
FI 
 
 carried on by an individual, such individual shall at all 
 times, while engaged in such banking business, be a resi- 
 dent of the state of Ohio, and the statement herein re- 
 quired shall show such. 
 
 3. The county and city or village in which the bank 
 is to be located, and the business carried on. 
 
 4. A statement of the responsibility and the net worth 
 of the individual members of such corporation, person, 
 partnership or association. 
 
 5. If not disclosed in the articles of co-partnership 
 or agreement, then the name of the officers, agents or em- 
 ployes in active charge of the management of the business 
 of the bank. Every such corporation, person, partnership 
 or association now doing a banking business in this state 
 shall on or before January 1, 1914, file with the secretary 
 of state a detailed statement as provided herein. The 
 secretary of state in filing said statements shall be governed 
 by the provisions of sections 9705 and 9706 of the General 
 Code of Ohio. 
 
 No such corporation, person, partnership or association 
 shall transact business except stich as is essential or neces- 
 sarily preliminary to its organization until it has been au- 
 thorized by the superintendent of banks. 
 
 In authorizing said banks to commence business and 
 issuing a certificate to that effect, the superintendent of 
 banks and such corporation, person, partnership or associa- 
 tion shall be governed by the provisions of section 9720, 
 get 9722 and 9723 of the General Code. (103 v. 379 
 
 ec, 2;) 
 
 SEecTION 744-3. If upon examination of the facts 
 
 which may come to the knowledge of the superintendent of 
 banks, whether by means of a special commission appointed 
 by him for the purpose of inquiring into the conditions of 
 such applicants or otherwise, the superintendent of banks 
 finds that such person or firm is lawfully entitled to com- 
 mence business, he shall give a certificate under his hand 
 and official seal that they or he have complied with the law, 
 and are authorized to commence business. But the super- 
 intendent of banks may withhold such certificate when he has 
 reason to believe that such person or firm has been formed 
 for any other purpose than the legitimate business herein 
 contemplated, or that the character and general fitness of 
 the person or firm named in the application are not such 
 as to command the confidence of the community in which 
 such bank is proposed to be located, or that the public 
 convenience and advantage will not be promoted by its 
 establishment. If the superintendent of banks withholds 
 a certificate for any of the reasons named in this section, 
 an appeal may be made to a board composed of the gover- 
 nor, attorney general and superintendent of banks, whose 
 decision shall be final. (103 v. 379 Sec. 3.) 
 
 Certificate of 
 authority to 
 commence 
 business. 
 
When superin- 
 tendent au- 
 thorized to take 
 possession of 
 property and 
 business of a 
 corporation, 
 person, etc., 
 for purpose of 
 liquidation. 
 
 Posting of no- 
 tice that bank 
 is private 
 bank. 
 
 Word “unin- 
 curporated” 
 upen all ad- 
 vertising, sta- 
 tionery, etc. 
 
 ie: 
 
 SEcTION 744-4. Upon becoming satisfied that a cor- 
 poration not organized under the laws of this state, or of 
 
 ‘the United States, or person, partnership or association, 
 
 using the word “bank”, “banker”, or “banking” or “trust” 
 or ‘trust company”, or words of similar meaning in any 
 foreign language, as a designation or name under whica 
 business is conducted in this state, has refused to pay its 
 depositors in occordance with the terms on which such de- 
 posits were received, or that such corporation, person, 
 partnership, or association has become otherwise insolvent, 
 or that it is conducting its business in an unsafe or unau- 
 thorized manner, or from any report or examination pro- 
 vided for by law, the superintendent shall have reason to 
 conclude that such corporation, person, partnership or 
 association is in an unsound or unsafe condition to trans- 
 act the business for which it was organized, or that it is 
 unsafe for it to continue business, the superintendent of 
 banks forthwith may take possession of the property and 
 the business of such corporation, person, partnership, or 
 association, until its affairs be finally liquidated as pro- 
 vided by law. The superintendent of banks shall not take 
 possession of the property and business of any such cor- 
 poration, person, partnership or association which was do- 
 ing business in this state prior to the time of the passage 
 of this act for the failure to comply with the provisions 
 of this act, as to transactions made prior to the passage of 
 this act or renewals or settlements and adjustments: of such 
 transactions, where the examination provided for in this 
 act discloses, or any stich corporation, person, partnership, 
 
 or association, shows to the satisfaction of the superintend- 
 
 ent of banks, that the interests of its depositors, creditors 
 and stockholders will not be endangered by permitting it 
 to transact its regular business. (103 v. 379 Sec. 4.) 
 
 SECTION 744-5. [Every such corporation, person, part- 
 nership or association shall post in the room in which it 
 transacts its business, and in plain wiew of its customers. 
 a printed list of all the owners of, and parties interested 
 in, such bank, and statement that the bank is a private 
 bank. Should the interests of any members of such corpora- 
 tion, partnership or firm, or of an individual doing a bank- 
 ing business under the provisions of this act, change either 
 by death, devise, sale or otherwise, then and in that case 
 the superintendent of banks of the state of Ohio shall be 
 notified of such change and notice printed and posted in 
 the room of any such bank as herein provided. No such 
 bank shall advertise by newspaper, letterhead, or in any 
 other way, a larger capital than has been actually paid in. 
 (103 v. 379 Sec. 5.) 
 
 SECTION 744-6. That all persons, partnerships or as- 
 sociations that shall engage in business under the purview 
 of this act, shall have printed on all their advertising matter 
 and business stationery, the word “unincorporated” imme- 
 diately following the name of the firm or business title. 
 
I3 
 
 The depositors in any bank shall have first lien on the 
 assets of such bank, in case it is wound up to the amount 
 of their several deposits, and for any balance remaining 
 unpaid, such depositors shall share in the general assets 
 of the owner or owners alike with the general creditors. 
 Every such corporation, person, partnership, or association 
 shall keep as a reserve at least fifteen per cent of the total 
 deposits; such reserve may be in lawful currency kept in 
 the vaults of the bank, or may be invested in the securities 
 named in the paragraphs b and c of section 9758, or the 
 bonds of any city or county within this state, or kept sub- 
 ject to demand in other banks or trust companies designated 
 by such bank with the approval of the superintendent of 
 banks of Ohio. (103 v. 379 Sec. 6.) 
 
 SEcTION 744-7. That all reports received from per- 
 sons, partnerships and associations engaged in, and all ap- 
 plications received from persons, partnerships or associa- 
 tions desiring to engage in business within the purview of 
 this act, shall be kept on file in the office of the superintend- 
 ent of banks, and-open to the inspection of all persons, 
 at the discretion of the superintendent of banks. (103 v. 
 
 S76 5eC;.7.) 
 
 Section 744-8. Upon the failure of any person, per- 
 sons, partnership or association coming within the purview 
 of this act, to comply with it in any particular, the super- 
 intendent of banks shall proceed at. once to take charge 
 of their affairs and proceed with their dissolution with 
 full power and authority as provided for other cases in sec- 
 tion 4 of this act. (103 v. 379 Sec. 8.) 
 
 SECTION 744-9. Sections 720, 724, 725, 729, 734, 735, 
 737, 738; 740, 741, 742, 742-1, 742-2, 742-3, 742-4, 742-5, 
 742-6, 742-7; The, 742-9, 742-10, 742-11, 742-12, 742-13, 
 ‘742-14, 742-16 and 743 of the General Code of Ohio shall 
 refer to and include every and all corporations not or- 
 ganized under the laws of this state or of the United States, 
 persons, partnerships and associations using the word 
 “bank”, “banker” or “banking” or “trust” or “trust com- 
 pany’ or words of similar meaning in any foreign language 
 as a designation or name under which business is or may 
 be conducted in this state, and every such corporation, per- 
 son, partnership or association shall be governed by and 
 shall conduct all their business and transactions as provided 
 in said sections in the same manner as if such corporations, 
 persons, partnerships or associations were specifically men- 
 tioned in each of said sections; and every such corporation, 
 person, partnership or association shall do and perform 
 all things required by each and all said sections, and the 
 superintendent of banks shall have the power and authority 
 over such corporations, persons, partnerships and asso- 
 . Clations, as is given to him over banking corporations in 
 Ohio by said sections; and each and every other section 
 of the General Code of Ohio providing for the inspection, 
 
 Depositors 
 shall have first 
 lien upon all 
 assets. 
 
 Reserve. 
 
 Reports filed 
 in office of 
 superintendent 
 of banks. 
 
 Dissolution. 
 
 Sections of 
 general code 
 governing con- 
 duct and busi- 
 ness of bank- 
 ing institu- 
 tions, incor- 
 porated and 
 private. 
 
Private banks 
 not compelled 
 to publish 
 reports. 
 
 Penalty for 
 certifying 
 check without 
 deposit suffi- 
 cient to 
 cover. 
 
 Fine and im- 
 risonment for 
 alse certifi 
 cation, 
 
 Penalty for 
 receiving or 
 permitting an 
 employe to re- 
 ceive deposits 
 when bank is 
 insolvent. 
 
 Penalty for 
 false entry, 
 fraudulent 
 
 certificate of 
 deposit, etc. 
 
 14 
 
 examination and regulation of banking corporations, ex- 
 cept the provisions as to capital stock and the amount of 
 loans and investments computed on the basis of capital 
 stock, and except the provisions for the publication of re- 
 ports, shall be held to apply to each and every such corpora- 
 tion, person, partnership or association so far as the said 
 sections and parts of sections may be applicable. (103 v. 
 
 379 Sec. 9.) 
 
 SECTION 744-10. Whoever, being connected with or 
 serving, or being an officer, employe, agent or director of 
 a corporation not organized under the laws of this state, 
 or the United States, or person, partnership or association 
 using the word “bank”, “banker”, or “banking” or “trust” 
 or ‘trust company”, or words of similar meaning in any 
 foreign language as a designation or name under which 
 business is conducted in this state, wilfully certifies a check 
 drawn on such corporation, person, partnership or associa- 
 tion and fails forthwith to charge the amount thereof 
 against the account of the person, firm or corporation draw- 
 ing it, or wilfully certifies a check drawn upon such corpo- 
 ration, person, partnership, or association, unless the per- 
 son, firm or corporation drawing it has on deposit with such 
 corporation, person, partnership or association an amount 
 of money subject to the payment of such check and equal 
 to the amount specified therein, or resorts to a device, re- 
 ceives a fictitious obligation in order to evade that provision 
 of this section, or certifies a check before the amount thereof 
 has been regularly entered to the credit of the drawer 
 thereof upon the books of such corporation, person, part- 
 nership or association, shall be fined not more than five 
 thousand dollars or imprisoned in the penitentiary not less 
 than one year nor more than five years, or both. (103 v. 
 
 AFO SEC EOE) 
 
 SECTION 744-11. Whoever, being connected with or 
 serving, or being an officer, employe, agent or director, of 
 a corporation not organized under the laws of this state, 
 or of the United States, or person, partnership or associa- 
 tion, using the word “bank”, “banker” or “banking” or 
 “trust” or “trust company” or words of similar meaning 
 in any foreign language, as a designation or name under 
 which business is conducted in this state, receives, or per- 
 mits an employe to receive money, checks, drafts or other 
 property as a deposit therein when he has knowledge that 
 it is insolvent, or wilfully and fraudulently issues or puts 
 forth a certificate of deposit, draws an order or a bill of 
 exchange, makes an acceptance, assigns a note, bond, draft, 
 bill of exchange, mortgage, judgment of decree, or makes. 
 a false entry in a book, report or statement of such corpo- 
 ration, person, partnership or association, or fictitiously bor- 
 rows or solicits, obtains or receives money for said cor- 
 poration, person, partnership or association not in goo¢ 
 faith intended to be and not the property of such corpora- 
 tion, person, partnership or association, with intent to 
 
15 
 
 defraud or injure such corporation, person, partnership or 
 association, or another corporation, or person, or to deceive 
 an officer of such corporation, person, partnership or asso- 
 ciation or an agent appointed to examine the affairs of such 
 corporation, person, partnership or association, or publishes 
 a false statement or report relating to the financial conditior: 
 of such corporation, person, partnership or assocaition, with 
 intent to defraud or injure it or another corporation or per- 
 son, shall be fined not more than five thousand dollars or 
 imprisoned in the penitentiary for more than ten years, or 
 both. (103 v. 379 Sec. II.) 
 
 SECTION 744-12. That whenever any of the funds of 
 the state, or any of the political subdivisions of the state, 
 shall be deposited under any of the depository laws of the 
 state, every corporation, person, partnership and association 
 coming within the purview of this act shall be permitted to 
 bid upon and be designated as depositories of such funds, 
 upon furnishing such surety or securities therefor as is 
 prescribed by the laws of the state of Ohio; provided, how- 
 ever, that there shall not be deposited with any such cor- 
 poration, person, partnership, or association by any such 
 political subdivision an amount in excess of five hundred 
 thousand dollars. (106 v. 505 Sec. 1.) 
 
 SECTION 744-13. This act shall go into effect July first, 
 
 1914, except that every corporation not organized under the. 
 
 laws of this state or of the United States, person, partner- 
 ship or association, using the word “bank”, “banker” or 
 “banking” or “trust” or “trust company” or words of sim- 
 ilar meaning in any foreign language, as a designation or 
 name under which business is conducted in this state, shall, 
 on and after September first, 1913, make reports to the su- 
 perintendent of banks of Ohio in the manner and form 
 as provided in sections 737, 738 and 741 of the General 
 Code of Ohio which shall apply to and govern all such cor- 
 porations, persons, partnership or associations; provided 
 further that at any time after September first, 1913, the 
 superintendent of banks of Ohio, when he has reason to be- 
 lieve from. any report made by any such corporation, per- 
 son, partnership or association, or otherwise, that such 
 corporation, person, partnership or association is in a fail- 
 ing or insolvent condition he may make an examination of 
 any such corporation, person, partnership or association as 
 provided by section 730 of the General Code, and upon his 
 finding any such corporation, person, partnership, or asso- 
 ciation to be insolvent or in a failing condition he may take 
 charge of the same and proceed to liquidate its affairs as 
 provided by law for the liquidation of banking corporations 
 of this state; provided further than section 2 of this act shall 
 go into effect on January first, 1914. (103 v. 379 Sec. 15.) 
 
 Right to 
 bid for de- 
 posit of 
 yublic funds; 
 imitation of 
 amount, 
 July 1, 1914. 
 
 Private banks 
 must make 
 Epon and be 
 subject to in- 
 spection on 
 and after 
 Sept. 1, 1918, 
 other provi- 
 sions effective 
 
Possession by 
 superin- 
 tendent. 
 
 Notice of 
 insolvency. 
 
 Administration 
 of trust. 
 
 16 
 
 LIQUIDATION. 
 
 SecTION 742. Whenever in this act it is provided that 
 the superintendent of banks may take possession of the 
 property and business of any corporation, company, com- 
 mercial bank, savings bank, safe deposit company, trust com- 
 pany, or any combination of two or more of such classes of 
 business or society for savings, or banking association, do- 
 ing business under the provisions of the banking laws of this 
 state, to liquidate its affairs, the superintendent of banks 
 shall take possession of and administer the assets of such 
 company or association as herein provided. (101 vy. 276 
 See-ors) 
 
 SECTION 742-1. Upon taking possession of the prop- 
 erty and business of any such corporation, company, society, 
 or association, the superintendent of banks shall forthwith 
 give written notice of such fact to all banks, trust com- 
 panies, associations and individuals holding or in possession 
 of any assets of such corporation, company, society or as- 
 sociation. No bank, trust company, association or individual 
 knowing that the superintendent of banks has taken posses- 
 sion of such company or association, shall have a lien or 
 charge for any payment advanced or any clearance there- 
 after made, or liability thereafter incurred against any of 
 the assets of the corporation, company, society or associa- 
 tion of whose property and business the superintendent of 
 banks shall have taken possession. Such corporation, com- 
 pany, society or association may with the consent of the 
 superintendent of banks, resume business upon such con- 
 ditions as may be approved by him. (101 v. 276 Sec. I.) 
 
 SECTION 742-2. Upon taking possession of the prop- 
 erty and business of such corporation, company, society or 
 association, the superintendent of banks is authorized to col- 
 lect money due to such corporation, company, society or 
 association, and to do such other acts as are necessary to 
 preserve its assets and business, and shall proceed to liqui- 
 date the affairs thereof, as hereinafter provided. The su- 
 perintendent of banks shall collect all debts due and claims 
 belonging to it, and upon the order of the common pleas 
 court in and for the county in which the office of such cor- 
 poration, company, society or association was located, may 
 sell or compound all bad or doubtful debts, and on like 
 order may sell all the real estate and personal property of 
 such corporation, company, society or association, on such 
 terms as the court shall direct; and the superintendent of 
 banks upon the terms of sale or compromise directed by the 
 court, shall execute and deliver to the purchaser of such 
 real and personal property, such deeds or instruments as 
 shall be necessary to evidence the passing of the title; and 
 if said real estate is situated outside the county in which 
 the office of the corporation, company, society or asso- 
 ciation, was located, a certified copy of such order author- 
 
17 
 
 izing and ratifying said sale shall be filed in the office of 
 the recorder of the county within which said property 1s 
 situated; and may, if necessary to pay the debts of such 
 corporation, company, society or association, enforce the 
 individual liability, if any, of the stockholders. The super- 
 intendent of banks may under his hand and official seal 
 appoint one or more special deputy superintendents of 
 banks as agent or agents to assist him in the duty of liqui- 
 
 _ dation and distribution, a certificate of appointment to be 
 
 filed in the office of the superintendent of banks and a 
 certified copy in the office of the clerk of the county in 
 which the office of such corporation, company, society or 
 association was located. The superintendent of banks shall 
 require from such agent or agents such surety for the faith- 
 ful discharge of their duties as he may deem proper. All 
 bonds given shall be deposited with the secretary of state 
 and kept in his office. (103 v. 528 Sec. I.): 
 
 SECTION 742-3. The superintendent of banks shall 
 cause notice to be given by advertisement in such newspaper 
 as he may direct weekly for two consecutive months, calling 
 on all persons who may have claims against such corpora- 
 tion, company, society or association, to present the same to 
 the superintendent of banks, and to make legal proof thereof 
 at a place and within a time not later than the last day of 
 Co to be therein specified. The superintendent of 
 
 anks shall mail a similar notice to all persons whose names 
 appear as creditors upon the books of the corporation, 
 company, society or association. If the superintendent of 
 banks doubts the justice and validity of any claim, he may 
 reject the same and serve notice of such rejection upon the 
 claimants, either by mail or personally, and affidavit of 
 the service of such notice, which shall be prima facie evi- 
 dence thereof, shall be filed in his office. An action upon a 
 claim so rejected must be brought within six months after 
 such service. Claims presented and allowed after the ex- 
 piration of the time fixed in the notice to creditors, shall be 
 entitled to be paid the amount of all prior dividends therein 
 if there be funds sufficient therefor and share in the dis- 
 tribution of the remaining assets in the hands of the super- 
 intendent of banks equitably applicable thereto. (106 v¥. 
 B00. Sec. I.) 
 
 SECTION 742-4. The expenses incurred by the superin- 
 tenaent of banks in the liquidation of any bank in accord- 
 ance with the provisions of this act, shall include the ex- 
 penses of deputies or assistants, clerks and examiners 
 employed in such liquidation, together with reasonable at- 
 torney fees for counsel employed by said superintendent of 
 banks in the course of such liquidation. Such compensation 
 of counsel, of deputies or assistants, clerks and examiners 
 in the liquidation of any corporation, company, society or 
 association, and all expenses of supervision and liquidation 
 shall be fixed by the superintendent of banks, subject to the 
 approval of the common pleas court of the county in which 
 
 Qe. Hg B; 
 
 Superintend- 
 ent may ap- 
 puint special 
 deputies to 
 assist in 
 liquidation. 
 
 Notice tu 
 creditors. 
 
 Expenses of 
 liquidation; 
 how paid. 
 
Inventory 
 to be made 
 
 in triplicate. 
 
 Deposit of 
 funds col- 
 lected. 
 
 18 
 
 the office of such corporation, company, society or associa- 
 tion was located on notice to such corporation, company, 
 society or association. The expense of such liquidation shall 
 be paid out of the property of such corporation, company, 
 society or association in the hands of said superintendent of 
 banks, and such expenses shall be a valid charge against the 
 property in the hands of ‘said superintendent of banks and . 
 shall be paid first, in the order of priority. Provided, how- 
 ever, that no stich expense shall be paid out of the property 
 of such person, partnership, corporation, company, society 
 or association until an account of such expense shall have 
 been filed with and approved by the common pleas court of 
 the county in which such person, partnership, corporation, 
 company, society or association is located. Provided, also, 
 that the superintendent of banks shall give notice, by publi- 
 cation of the application for the approval of stich expense 
 account, in a newspaper of general circulation in the com- 
 munity in which such person, partnership, corporation, com- 
 pany, society or association is located at least ten days before 
 such court shall pass upon such application. (106 v. 360 
 
 Slo gy 
 
 SECTION 742-5. Upon taking possession of the prop- 
 erty and assets of such person, partnership, corporation, 
 company, society or association, the superintendent of 
 banks shall make an inventory of the assets of such person, 
 partnership, corporation, company, society or association in 
 triplicate, — one to be filed in the office of the superin- 
 tendent of banks, one in the office of the clerk of the 
 county in which the office of such person, partnership, 
 corporation, company, society or association was located, 
 and one with the auditor of state. It shall be the duty of 
 the auditor of state to have such inventory immediately 
 verified by comparison with the current books of the bank. 
 Upon the expiration of the time fixed for the presentation 
 of claims, the superintendent of banks shall make in tripli- 
 cate a full and complete list of the claims presented, in- 
 cluding and specifying such claims.as have been rejected 
 by him,.of which one shall be filed in the office of the 
 superintendent of banks, one in the office of the clerk of 
 the county in which the office of such corporation, com- 
 pany, society or association was located, and one with the 
 auditor of state. And the superintendent of banks shall 
 in like manner make and file supplemental lists showing 
 all claims presented subsequent to the filing of the first 
 list, — such supplemental lists to be filed at least fifteen 
 days before the declaration of any dividend, and in any 
 event such supplemental lists shall be filed at intervals of 
 not exceeding six months. Such inventory and list of 
 claims shall be open at all reasonable times for inspection. 
 (106 v. 360 Sec. 1.) 
 
 SECTION 742-6. The moneys collected by the super- 
 intendent of banks shall be from time to time deposited 
 in one or more state banks of deposit, savings banks, or 
 
19 
 
 trust companies, subject to his order as herein provided. 
 fOr V..270 S€C;1..) 
 
 SECTION 742-7. At any time after the expiration’ of 
 the date fixed for the presentation of claims, the superin- 
 tendent of banks may, out of the funds remaining in his 
 hands after the payment of expenses, declare one or more 
 dividends, and after the expiration of one year from the 
 first publication of notice to creditors, he may declare a 
 final dividend, — such dividends to be paid to such per- 
 sons and in such amounts and upon such notice as may be 
 
 Dividends; 
 when and 
 how declared. 
 
 directed by the common pleas court of the county in which | 
 
 the office of such corporation, company, society or associa- 
 tion was located. (101 v. 276 Sec. 1.) 
 
 SECTION 742-8. Objection to any claim not rejected 
 _ by the superintendent of banks may be made by any party 
 interested by filing a copy of such objection with the super- 
 intendent of banks, who shall present the same to the com- 
 mon pleas court of the county in which the office of such 
 corporation, company, society, or association was located, 
 upon written notice to the party filing the same, said notice 
 setting forth the time and place of the presentation. The 
 court upon return day of said notice shall hear the objec- 
 tions raised to said claim, or refer the determination of 
 said objections to a referee for report, or upon demand of 
 either the superintendent of banks or the party filing the 
 objections direct that the issues be tried before a jury. 
 The court may make proper provision for unproved and 
 unclaimed deposits. (tor v. 276 Sec. 1.) 
 
 SECTION 742-9. Whenever any such person, part- 
 nership, corporation, company, society or association of 
 whose property and business the superintendent of banks 
 has taken possession, as aforesaid, deems itself aggrieved 
 thereby, it may at any time within thirty days after taking 
 such possession apply to the common pleas court of the 
 county in which the office of such corporation, company, 
 society or association was located, to enjoin further pro- 
 ceedings, and said court, after citing the superintendent of 
 banks to show cause why further proceedings should not 
 be enjoined and hearing the allegation and proofs of the 
 parties and determining the facts, may, upon the merits, 
 dismiss such application or enjoin the superintendent of 
 banks from further proceedings, and direct him to sur- 
 render such business and property to such person, partner- 
 ship, corporation, company, society or association. (106 
 Bir 900 eC: I.) 
 
 SECTION 742-10. No receiver shall be appointed by 
 any court, nor shall any deed of assignment for the bene- 
 fit of creditors be filed in any probate court or court of 
 insolvency, within this state, for any incorporated bank, 
 savings bank, savings and trust company, safe deposit and 
 trust company, society for savings, savings society, or any 
 combination of same doing business under the laws of this 
 
 Rejected 
 claims. 
 
 Application 
 to enjoin 
 proceedings; 
 hearing; 
 decree. 
 
 Institution 
 may appoint 
 receiver upon 
 authority of 
 court. 
 
20 
 
 state except upon notice to the superintendent of rina 
 unless in case of urgent necessity it becomes in the judg 
 ment of the court necessary so to do in order to preserve 
 the assets of such corporation, company, society Or assO- 
 ciation, The superintendent of banks may within five 
 days after the service of such notice upon him take posses- 
 sion of such corporation, company, society or association, 
 in which case no further proceedings shall be had upon 
 such application for the appointment of receiver or under 
 such deed. of assignment, or, if a receiver has been ap- 
 pointed or such assignee shall have entered upon the ad- 
 ministration of his trust, such appointment shall be va- 
 cated or such assignee shall be removed upon application 
 of the superintendent of banks to the proper court there- 
 for, and the superintendent of banks shall proceed in all 
 such cases to administer the assets of such corporation, 
 company, society or association as herein provided. (101 
 ¥,) 276: Seek.) 
 
 Liquidation SECTION 742-11. Whenever the superintendent of 
 
 rhb ce ha ak banks shall have paid to. each depositor and creditor of 
 such corporation, company, society or association (not in- 
 cluding stockholders) whose claim or claims as such de- 
 positor or creditor shall have been duly proved and al- 
 lowed, the full amount of such claims, and shall have 
 made proper provision for unclaimed or unpaid deposits 
 or dividends, and shall have paid all the expenses of the 
 liquidation, the superintendent of banks. shall call a meet- 
 ing of the stockholders of such corporation, company, so- 
 ciety or association, by giving notice thereof for thirty 
 days in one or more newspapers published in the county 
 wherein the office of such corporation, company, society 
 or association was located. (101 v. 276 Sec. 1.) 
 
 Final liquida- SECTHON 742-12. At such meeting the stockholders 
 “tion by super: shall determine whether the stiperintendent of banks shall 
 continue to administer its assets and wind up the affairs 
 of such corporation, company, society or association, or 
 whether an agent or agents shall be elected for that pur- 
 pose; and in so determining the said stockholders shall 
 vote by ballot in person, or by proxy, each share entitling 
 the holder to one vote and the majority of the stock shall 
 be necessary to a determination. In case it is determined 
 to continue the liquidation under the superintendent of 
 banks, he shall complete the liquidation of the affairs of 
 such corporation, company, society or association, and 
 after paying the expenses thereof shall distribute the pro-: 
 ceeds among the stockholders in proportion tothe several 
 holdings of stock, in such manner’ and upon such notice 
 as may be directed by the common pleas court of the 
 county in Which the office of such corporation, company, — 
 society or association was located. (101 v. 276 Sec. I.) 2 
 
21 
 
 . SEcTIION 742-13. In case it is determined to appoint 
 an agent or agents to liquidate, the stockholders shall 
 thereupon select such agent or agents by ballot, —a ma- 
 ority of the stock present and voting, in person or by 
 proxy, being necessary to a choice. Such agent or agents 
 shall file with the superintendent of banks a bond to the 
 state of Ohio in such amount and with such sureties as 
 shall be approved by the superintendent of banks for the 
 faithful performance of all the duties of his or their trust, 
 and thereupon the superintendent of banks shall transfer 
 to such agent or agents all the. undivided or uncollected 
 or other assets of such corporation, company, society or 
 association then remaining in his hands; and upon such 
 transfer and delivery the said superintendent of banks 
 shall be discharged from all further liability to such cor- 
 poration, company, society or association and its creditors. 
 mor vy. 276 Sec. 1. . 
 
 SECTION 742-14. Such agent or agents shall convert 
 the assets coming into his or their possession into cash, 
 and shall account for and make distribution of the prop- 
 erty of such Corporation, company, society or association 
 -as herein provided in the case of distribution by the super- 
 intendent of banks, except that the expenses thereof shall 
 “be subject to the direction and control of the common 
 pleas court of the county in which the office of such cor- 
 poration, company, society or association was located. 
 ea 270 eC): 1-) 
 
 _ SECTION 742-15. In case of death or removal or re- 
 fusal to act of any such agent, or agents, the stockholders 
 may elect a successor as hereinbefore provided who shall 
 have the same powers and be subject to the same liabilities 
 d duties as the agent, or agents, originally elected. (r1o1 
 
 e270) Sec. :T.) 
 
 ; SECTION 742-16. Dividends and unclaimed deposits 
 Temaining in the hands of the superintendent of banks for 
 x months after the order for final distribution shall be 
 y him deposited with the treasurer of state who shall 
 hold such funds as custodian, subject to the order of the 
 superintendent of banks and without. the necessity of ap- 
 propriation by the General Assembly. The superintendent 
 f banks may pay over the moneys so held by him to the 
 persons respectively entitled thereto, upon being furnished 
 ‘Satisfactory evidence of their right to the same. In cases 
 of doubt or conflicting claims he may apply to the com- 
 mon pleas court of the county in which the office of such 
 erson, partnership, corporation, company, society or as- 
 sociation was located for an order authorizing and direct- 
 ing the payment thereof. All unclaimed deposits and un- 
 called for dividends for which no claim has been made 
 within a period of five years, after the order for final dis- 
 ribution, shall be paid into the state treasury upon the 
 arrant of the auditor of state. (106 v. 360, Sec. 1.) 
 
 Final liquida- 
 tion by agent; 
 discharge of 
 superin- 
 tendent. 
 
 Distribution 
 of remaining 
 assets by 
 agent. 
 
 Inability of 
 agent to act. 
 
 Final dis- 
 tribution by 
 superintedent. 
 
Possession 
 and liquida- 
 tion; reasons 
 for. 
 
 “#4 
 
 Notice of ap- 
 pointment. 
 
 Voluntary 
 liquidation. 
 
 iM 
 
 22 
 
 SECTION 9749. On becoming satisfied that a cor- 
 poration has refused to pay its depositors in accordance 
 with the terms on which such deposits were received (it 
 received under the provisions of this chapter. (Chap. 2, 
 Div. V., Title IX), or that such corporation has become 
 otherwise insolvent, or that its capital has been impaired 
 for a period of ninety days, or is conducting its business 
 in an unsafe or unauthorized manner, or if from any ex- 
 amination or report provided for by this chapter the 
 superintendent shall have reason to conclude that such 
 corporation is in an unsound or unsafe condition to trans- 
 act the business for which it was organized, or that it is 
 unsafe for it to continue business, the superintendent of 
 banks forthwith may take possession of the property and 
 business of such corporation until its affairs be finally 
 liquidated, as herein provided. The superintendent of 
 banks shall not take possession of the property and busi- 
 ness of any such corporation which was incorporated 
 under the laws of this state and transacting business at 
 the time of the passage of this act for failure to comply 
 with the provisions of this act, as to transactions made 
 prior to the passage of this act or renewals or settlements 
 and adjustments of such transactions, where the examina- 
 tions provided for in this act disclose, or any such corpora- 
 tion shows to the satisfaction of such superintendent of 
 banks, that .the interest .of its depositors, creditors and 
 stockholders will not be endangered by permitting it to 
 continue to transact its regular business. (101 v.. 276 
 
 SecreaTs) 
 
 SECTION 9750. Notice of the appointment of such re- 
 ceiver shall be given by advertisement in some newspaper 
 published in the city, village or. county where such cor- 
 poration is located, for six consecutive weeks, calling upon 
 all persons who have claims against it to. present them to 
 such receiver, and make legal proof thereof. (99 v. 278 
 See; 42) 
 
 SECTION 9747. A corporation organized under this 
 chapter, may go into liquidation and be closed by the vote 
 of its stockholders owning two-thirds of its stock in number 
 and amount. When a vote to go into liquidation is taken, 
 the board of directors shall cause notice of such fact to be 
 certified under seal of the corporation, by its president 
 and secretary, treasurer or cashier, to the supeintendent of 
 banks, and publication thereof to be made for a period of 
 four weeks in a newspaper published in the city, village or 
 county in which the corporation is located, that it is closing 
 up its affairs, and notifying creditors to present their claims 
 against the corporation for payment. (99 v. 277 Sec. 39.) 
 
23 
 
 ORGANIZATION AND MANAGEMENT OF BANKS 
 . IN GENERAL. ; 
 
 oust: Ati, - Sec. 3: 
 
 Dues from private corporations shall be secured by such 
 means as may be prescribed by law, but in no case shall any stock- 
 holder be individually liable otherwise than for the unpaid stock 
 owned by him or her; except that stockholders of corporations au- 
 thorized to receive money on deposit shall be held individually 
 responsible, equally and ratably, and not one for another, for all 
 contracts, debts and engagements of such corporation, to the ex- 
 tent of the amount of their stock therein, at the par value thereof, 
 in addition to the amount invested in such shares. * 
 
 Cuap 2, Div. V, TiTLeE IX, GENERAL CODE. 
 
 SECTION 9702. Any number of persons, not less than 
 five, a majority of whom are citizens of this state, may asso- 
 ciate and become incorporated to establish a commercial 
 bank, a savings bank, a safe deposit company, a trust com- 
 pany, or to establish a company having departments for 
 two or more, or all of such classes of business, upon the 
 terms and conditions and subject to the limitations herein- 
 after and by law prescribed. (99 v. 269 Sec. 1.) 
 
 SECTION 9703. Such persons shall subscribe and ac- 
 khowledge before an officer authorized to take acknowlg- 
 ments of deeds, articles of incorporation, the form of which 
 shall be prescribed by the secretary of state, which must 
 contain : 
 
 a. The: name by which such corporation is to be 
 known, which shall begin with the word “The” and end 
 wtih the word “bank” or “company”. 
 
 b. The place where its business is to be transacted, 
 designating the particular city, village or township. 
 
 c. The purpose for which it is formed, whether that 
 of a commercial bank, savings bank, safe deposit company. 
 trust company, or a combination of two or more or all, of 
 such classes of business. 
 
 d. The amount of its capital, which shall be divided 
 into shares of one hundred dollars each. (102 v. 171 
 
 mec.1.) 
 
 SECTION 9704. * The capital stock of a commercial bank 
 shall not be less than twenty-five thousand dollars; of a 
 savings bank, not less than twenty-five thousand dollars ; 
 of a commercial bank and savings bank, not less than 
 twenty-five thousand dollars; of a safé deposit company, 
 not less than twenty-five thousand dollars; of a commercial 
 - bank and safe deposit company, not less than twenty-five 
 thousand dollars; of a savings bank commercial bank and 
 safe deposit company, not less than fifty thousand dollars; 
 of a trust company, not less than one hundred thousand 
 dollars; of a trust company and safe deposit company, not 
 less than one hundred thousand dollars; of a trust com- 
 
 Double lia- 
 bility of 
 stockholders 
 constitution 
 1912. 
 
 Incorpora- 
 tion of 
 banks, 
 
 Articles of 
 incorporation. 
 
 Capital stock. 
 
Certificate of 
 clerk of court. 
 
 Duties of sec- 
 
 retary of state. 
 
 Certified copy 
 of articles, 
 
 Enumeration 
 of powers. 
 
 24 
 
 pany and savings bank, not less than one hundred thousand 
 dollars; of a trust company, savings bank and safe deposit 
 company, not less than one hundred and twenty-five thou- 
 sand dollars; and of a trust company, savings bank, com- 
 mercial bank and safe deposit company, not less than one 
 hundred and twenty-five thousand dollars. (99 v. 269 
 een) : 
 
 SecTIoN 9705. The official character of the officer 
 before whom the ackriowledgment of articles of incorpora- 
 tion is made, shall be certified by the clerk of court of 
 common pleas of the county in which the acknowledgment 
 is taken and the articles shall be filed in the office of the 
 secretary of state. If they are in conformity to law, the 
 secretary of state shall record them, and furnish’ one certi- 
 fied copy thereof to the incorporators of such corporation, 
 and another certified copy to the superintendent of banks. 
 to be by him filed in his office. (99 v. 269 Sec. 3.) 
 
 SECTION 9706. The secretary of state shall not file or 
 record any such articles of incorporation in which the name 
 of the corporation is likely to mislead the public as to the 
 character or purpose of the business authorized by its 
 charter, or is the same as one already adopted or appro- 
 priated by an existing corporation of this state, or so 
 similar thereto as to be likely to mislead the public, unless 
 the place of business of such company is to be located in a 
 county other than the one in which the corporation bearing 
 such similar name is then doing business, and the corpora- 
 tion so adopting such name adds thereto the words “of 
 RS Ss iw ality ee eee ” (indicating thereby the name 
 of the city, village or township in which its principal place 
 of business is situated). (99 v: 269 Sec. 3.) 
 
 _ SECTION 9707. A copy of such articles of incorpora- 
 tion, duly certified by the secretary of state, shall be prima 
 facie evidence of the existence of such corporation; and all 
 certificates thereafter filed in the office of the secretary of 
 state relating to such corporation shall be recorded. (99 
 V., 200), ee: 3.) 
 
 _ SeEcTION 9708. Upon such filing of the articles of 
 incorporation, the persons who subscribe them, their asso- 
 clates, successors, and assigns, by the name designated 
 therein, shall become a body corporate with succession, and, 
 as such, shall have power: 
 
 a. To adopt and use a corporate seal, and to alter it 
 at pleasure. 
 
 b. . To contract and be contracted with; 
 
 c. To sue and be sued; ‘ 
 
 d. To adopt regulations for the government of the 
 corporation, not inconsistent with the constitution and laws 
 of this state; 
 
 _. @. To do all needful acts, to carry into effect the ob- 
 jects for which it was created. (99 v. 270 Sec. 4.) 
 
25 
 
 SECTION 9709. Regulations of the corporation may be 
 adopted or changed by the assent thereto, in writing, of 
 two-thirds of the stockholders, in number and amount or 
 by a majority of the stockholders, in number and amount, 
 at a meeting held for that purpose, notice of which has been 
 given for that purpose by the president or secietary or any 
 two directors personally or by written notice to each stock- 
 holder, or by publication, for thirty days, in some news- 
 paper of general circulation in the county in which the 
 corporation is located.- (99 v. 270 Sec. 4.) 
 
 SECTION 9710. The persons named in the articles of 
 incorporation of any such company, or a majority of them, 
 shall order books to be opened for subscription to the capi- 
 tal stock of the company in the manner provided for other 
 corporations. An installment of ten per cent. on each share 
 of stock shall be payable at the time of making the subscrip- 
 tion, and an installment of forty per cent. on each share of 
 stock shall be payable as soon thereafter as may be requirec 
 by the board of directors, the remaining fifty per cent 
 being payable in the manner hereinafter required. (99 ¥ 
 
 | 270 Sec. 5.) 
 
 SECTION 9711. As soon as the capital stock of such 
 corporation is fully subscribed and ten per cent. thereof 
 paid in, the subscribers of the articles of incorporation, or 
 a majority of them, shall so certify in writing to the secre- 
 tary of state, and thereupon give notice to the stockholders, 
 in the manner provided for other corporations, to meet for 
 the purpose of choosing not less than five nor more than 
 thirty directors, who shall continue in office until the time 
 fixed for the annual election, and until their successors are 
 elected and qualified. But if all subscribers are present in 
 person or by proxy, such notice may be waived in writing. 
 ioe ¥. PAI Sec 1.) 
 
 SECTION 9712. At the time and place appointed, direc- 
 tors shall be chosen in the manner provided for other cor- 
 porations. (99 v. 271 Sec. 7.) 
 
 SECTION 9713. Unless the regulations of the corpora- 
 tion otherwise provide an annual election for directors shail 
 be held on the second Wednesday of January of each year. 
 If for any cause, directors are not elected at the annual 
 meeting, or other meeting called for that purpose, they may 
 be chosen in the manner provided for other corporations. 
 
 (99 v2271 Sec.-8:) 
 
 SEcTION 9714. In all other respects, such corporation 
 shall be created, organized, governed and conducted in the 
 manner provided by law for other corporations in so far 
 as not inconsistent with the provisions of this chapter. (99 
 Wal272-Sec,- 9.) 
 
 Regulations, 
 how adopted. 
 
 Opening of 
 subscription 
 books. 
 
 Certificate of 
 subscription. 
 
 Directors. 
 
 Annual 
 elections. 
 
 General pro- 
 visions; when 
 applicable. 
 
Authorization 
 of superin- 
 tendent. 
 
 Monthly in- 
 stallments on 
 capital stock. 
 
 Failure to pay 
 installments; 
 sale of stock. 
 
 Surplus from 
 sale, 
 
 Superin- 
 tendent may 
 take pos- 
 session. 
 
 ~ 26 
 
 SECTION 9715. .No such corporation shall transact 
 business except such as is incidental and necessarily ‘pre- 
 liminary to its organization, until it has been authorized by 
 the superintendent of banks. (99 v. 271 Sec. 10.) 
 
 SEcTION 9716. The entire capital stock of such cor- 
 poration shall be subscribed and at least fifty per cent. of 
 each share paid in before it may be authorized to commence 
 business. The remainder of its capital stock shall be paid 
 in in monthly installments of at least ten per cent. each on 
 the whole amount of the capital, payable at end of each 
 succeeding month from the time it is authorized by the 
 superintendent of banks to commence business. The pay- 
 ment of each installment shall be certified under oath to 
 the superintendent of banks by the president, secretary, 
 treasurer, or cashier of such corporation. (102 v. 171 
 
 Sece ist 
 
 SECTION 9717. When a stockholder or his assigns fails 
 to pay an installment on his stock, as required by the pre- 
 ceding section to be paid, or for thirty days thereafter, the 
 directors for such company may sell his stock at public sale 
 for not less than the amount due thereon, including costs 
 incurred, to the person who will pay the highest price 
 therefor, having first given the delinquent stockholder 
 twenty days’ notice of such sale personally, or if no per- 
 sonal notification can be given, then by mail at his last 
 known address as appears from the corporate record, and 
 having advertised the sale for a like period in a paper of 
 general circulation within the county in which the corpora- 
 tion is located. If no bidder can be found who will pay for 
 such stock the amount ‘due thereon, with costs incurred, 
 such stock shall be sold as the directors order, within six 
 months for not less than the amount then due thereon with 
 all costs of sale. (99 v. 271 Sec. 12.) 
 
 SECTION 9718. Upon a sale of stock, any surplus over 
 the amount due thereon to such corporation, with interest 
 and costs incurred, shall be paid over to the original stock- 
 holder, or his assigns. (99 v. 272 Sec. 13.) 
 
 SEcTION 9719. If the cancellation,of the stock of any 
 delinquent holder reduces the capital of the corporation 
 below the minimum required by law, the capital of such 
 corporation shall be increased by additional subscription to 
 the minimum required by law, within sixty days from the 
 date of such cancellation; in default of which the superin- 
 tendent of banks may forthwith take possession of the 
 property and business of such corporation until its affairs 
 be finally liquidated, as herein provided. (101 v. 276 
 Sec; /.) 
 
27 
 
 7 
 
 SEecTION 9720. When a certificate is transmitted to the 
 superintendent of banks, signed by the president, secretary, 
 or treasurer of such corporation, notifying him that the 
 entire capital stock of such corporation is subscribed, thai 
 fifty per cent. thereof has been duly paid in, and that such 
 corporation has complied with all the provisions of law 
 required to be done before it can be authorized to commence 
 business, the superintendent of banks shall examine into 
 its affairs, ascertain especially the amount of money paid 
 in on account of its capital, the name and place of residence 
 of each director, the amount of capital stock of which each 
 is the owner in good faith, and whether such corporation 
 has complied with all the provisions of law required to 
 entitle it to engage in business. (99 v. 272 Sec. 15.) 
 
 SECTION 9721. If upon such examination of the facts 
 referred to in section 9720, and of any other facts which 
 may come to the knowledge of the superintendent of banks, 
 whether by means of a special commission appointed by 
 him for the purpose of inquiring into the condition of such 
 corporation or otherwise, the superintendent of banks finds 
 that such corporation is lawfully entitled to commence busi- 
 ness, he shall give it a certificate under his hand and official 
 seal that it has complied with all of the provisions required 
 by law, and is authorized to commence business. But the 
 superintendent may withhold such certificate when he has 
 reason to believe that the stockholders have formed such 
 corporation for any other purpose than the legitimate busi- 
 ness herein contemplated, or that the character and general 
 fitness of the persons named as stockholders in the certifi- 
 cate are not such as to command the confidence of the 
 community in which such bank is proposed to be located, 
 or that the public convenience and advantage will not be 
 promoted by its establishment. If the superintendent of 
 banks withholds a certificate for any of the reasons named 
 in this section an appeal may be made to a board composed 
 of the governor, attorney general and superintendent of 
 banks whose decision shall be final. (102 v. 171 Sec. 1.) 
 
 SECTION 9722. The corporation shall cause such cer- 
 tificate to be published in some newspaper printed in the 
 city, village or county where it is located, once a week for 
 four successive weeks or if no newspaper is published in 
 such county, then in a newspaper published at the nearest 
 county seat. (99 v. 272 Sec. 17.) . 
 
 SECTION 9723. Hereafter, all corporations incorpo- 
 rated as commercial banks, savings banks, savings societies, 
 societies for savings, savings and loan associations, safe 
 deposit companies, trust companies, and savings and trust 
 companies, or a corporation having departments for two or 
 more, or all of such classes of business, shall be incorpo- 
 rated and organized with a capital stock, and under the 
 provisions of this chapter. The secretary of state shall not 
 
 Preliminary 
 examination 
 by superin- 
 tendent. 
 
 Certificate 
 of superin- 
 tendent, 
 
 Publication 
 of certificate. 
 
 Duty as to 
 filing articles. 
 
Transfers 
 of stock. 
 
 Increase of 
 capital stock. 
 
 Reduction of 
 
 capital stock. 
 
 Monthly 
 meetings. 
 
 Executive 
 committee. 
 
 Minutes of 
 executive 
 committee. 
 
 28 
 
 file or record articles of incorporation for such a corpora- 
 tion, unless in accordance therewith. (99 v. 272 Sec. 18.) 
 
 SECTION 9724. The shares of stock of such corpora- 
 tion shall be deemed personal property and shall be trans- 
 ferred on its books in such manner as the regulations and 
 by-laws of the corporation direct. (99 v. 273 Sec. 19.) 
 
 SECTION 9725. A corporation doing business under the 
 provisions of this chapter, may increase its capital stock as 
 provided for other corporations. In case of such increase, 
 the board of directors first shall offer such additional stock 
 pro rata to all stockholders of record at such price, not less 
 than par, as they deem best for the interest of the corpora- 
 tion. Shares remaining unsold then may be sold to any 
 person on the same or better terms. (99 v. 273 Sec. 20.) 
 
 SECTION 9726. Such a corporation may reduce the 
 amount of its capital stock in the manner provided for | 
 other corporations, but notice of such reduction shall be 
 published in a newspaper of general circulation in the city, . 
 village or county, in which it is doing business. No reduc- 
 tion shall be made to an amount less than the minimum 
 amount of capital stock required for such corporation, nor 
 shall such reduction be valid or warrant the cancellation of 
 stock certificates until it has been approved by the super- 
 intendent of banks. Such approval shall not be given 
 except upon a finding by him that the security of existing 
 creditors of the corporation will not be impaired. (99 v. 
 273) SEP eh} . 
 
 SECTION 9727. The corporate powers, business and 
 property of corporations formed under this chapter, shall 
 be exercised, conducted and controlled by the board of 
 directors, which shall meet at least once each month. Such 
 board shall consist of not less than five or more than thirty 
 directors,:to be chosen by the stockholders, and hold office 
 for one year and until their successors are elected and 
 qualified. (99 v. 273 Sec. 22.) 
 
 SECTION 9728. The board of directors may appoint an 
 executive committee to consist of at least three of its mem- 
 bers, with such duties and powers as are defined by the 
 regulations or by-laws who shall serve until their successors 
 are appointed. Such executive committee shall meet as 
 often as the board of directors require, which shall not be 
 less frequently than once each month, and approve or dis- 
 approve all loans and investments. All loans and invest- 
 ments shall be made under such rules and regulations as the 
 board of direcfors prescribe. (99 v. 273 Sec. 23.) 
 
 SECTION 9729. Minutes shall be kept of the meétings 
 of such executive committee, including records of loans and 
 investments, to be submtited to the board of directors for 
 approval at each meeting. The minutes and records of such 
 
29 
 
 committee shall be kept on file. No loan shall be made. 
 directly or indirectly, to an officer, or member of the execu- 
 tive committee of such a corporation, unless duly authorized 
 by a majority of the members of the board of directors. 
 Such authorization shall be recorded on the records of their 
 proceedings, and all loans when so authorized and made to 
 officers, or members of the executive committee shall be 
 made and secured in the same manner as loans to other 
 Ppersons., (90 vs 273° Sec. 23.) 
 
 SECTION 9730. In elections of directors, and in decid- 
 ing questions at meetings of stockholders, each stockholder 
 shall be entitled to one vote for each share of stock held by 
 him. Any stockholder also may vote by proxy duly author- 
 ized in writing. (99 v. 274 Sec. 24.) — 
 
 SECTION 9731. Every director must be the owner and 
 
 Elections. 
 
 Directors; 
 
 holder of at least five shares of stock in his own name anc regulations. 
 
 right, unpledged and unincumbered in any way, and at 
 least three-fourths of the directors must be residents of this 
 state.( 99 v. 274 Sec. 25.) 
 
 SECTION 9732. Every director shall take and subscribe 
 an oath that he will diligently and honestly perform his 
 duties in such office, not knowingly violate, or permit to be 
 violated, any provisions of this chapter, and that he is the 
 owner in good faith of the number of shares of stock of the 
 company required to qualify him for such office, standing 
 in his own name, on its books. (99 v. 274 Sec. 26.) 
 
 SECTION 9733. Any vacancy in the board of directors 
 may be filled by the board for the unexpired term. (99 v. 
 
 BTAS eC. 27.) 
 
 SECTION 9734. The officers of such corporation, be- 
 fore entering upon the discharge of their duties, shall give 
 bond to the corporation in the amount required -by the 
 directors and with surety to be approved by them, for their 
 fidelity and good conduct and for the safe keeping and 
 proper application of the funds of the corporation and of 
 such moneys and other property as many be placed in their 
 charge. The directors may require an increase of the 
 amount of such bonds whenever they deem it necessary. 
 The directors as such shall not be required to give bond. 
 
 (99-v. 274 Sec. 28.) 
 
 SECTION 9735. The board of directors of such cor- 
 poration may declare a dividend of so much of its net 
 profits as they deem expedient. Before su€h dividend is 
 declared, not less than one-tenth of the net profits of the 
 company for the preceding half-year, or for such period 
 as is covered by the dividend, shall be carried to a surplus 
 fund until such fund amounts to twenty per cent. of its 
 capital stock. 
 
 Oath of 
 directors. 
 
 Vacancy. 
 
 Bond of 
 officers. 
 
 Declaring 
 dividends, 
 20% surplus 
 fund. 
 
Net profits. 
 How 
 
 ascertained. 
 
 Annual ex- 
 amination. 
 
 How stock as- © 
 
 signed or 
 transferred. 
 
 Record of 
 stockholders. 
 
 Banks here- 
 tofore incor- 
 porated. 
 
 39 ‘ 
 
 In order to ascertain the net profits from which such a 
 dividend may be made, in the amount of. profit and loss 
 there shall be charged and deducted from the actual profits: 
 
 (1) All ordinary and extraordinary expenses, paid or 
 incurred, in managing the affairs and transacting the busi- 
 ness of the corporation. 
 
 (2) Interest paid or then due, on debts which it owes. 
 (3) All taxes due. 
 
 (4) All losses sustained by the corporation. In com- 
 puting its losses, debts owing to it which have become due 
 and which are not in process of collection and on which 
 interest for one year or more is due and unpaid, unless 
 same are well secured, and debts upon which judgment was 
 recovered, but has been more than two years unsatisfied, 
 and on which also for said period of two years, no interest 
 was paid, unless same are well secured, shall be included. 
 (1035¥.-270: Sec; 12) 
 
 SECTION 9736. A committee of at least two directors 
 
 or stockholders annually shall be appointed by the board 
 
 of directors to thoroughly examine, or to stperintend the 
 examination of, the assets and liabilities of the corporation, 
 and to report to the board of directors the result of such 
 examination. A copy thereof attested and verified under 
 oath by the signatures of a’ majority of such committee 
 forthwith shall be filed with the superintendent of banks. 
 
 (99 v. 274 Sec. 30.) 
 
 SECTION 9737. The stockholders of such a corporation 
 may provide and determine the conditions upon. whick 
 shares of its stock shall be assignable and transferable, and 
 such shares shall be assignable and transferable only ac- 
 cording to rules and regulations and upon conditions such 
 as the stockholders for that purpose make and establish. 
 
 (99 v...275 Sec: 34.) 
 
 SEcTION 9738. A book shall be provided and kept by 
 every such corporation, in which shall be entered the name 
 and residence of each stockholder, the number of shares 
 held by each, the time when each person became a stock- 
 holder; also, all transfers of stock, stating the time when 
 made, the number of shares and by whom transferred, 
 which book shall be subject to the inspection of the direc- 
 tors, officers and stockholders of the corporation at all times 
 one as usual hours of transacting business. (99 v. 275 
 ee7 34° 
 
 _ SECTION 9739. Banks, savings banks, savings societies, 
 societies for savings, savings and loan associations, safe 
 deposit companies, trust companies, savings and trust com- » 
 panies, and combinations of any two or more of such corpo- 
 rations, heretofore incorporated under any law of. this 
 state, may continue business and the exercise of powers 
 
31 
 
 they now have without prejudice to any rights acquired 
 under the acts~under which they were incorporated; and 
 there shall be saved to such associations and corporations 
 all the rights, privileges and powers heretofore conferred 
 Mmonethett. 7.90: ve 275° SEC.35.).> 
 
 SEcTION 9740. A corporation formed to combine two 
 or more classes of business under this chapter, shall keep 
 separate books of accounts for each class. Receipts, invest- 
 ments and transactions relating to each of such classes of 
 business shall be governed by the provisions and restric- 
 tions herein specifically provided therefor. (99 v. 275 
 
 Pets +35.) 
 
 SECTION 9741. Banks, savings banks, savings societies, 
 societies for savings, savings and loan associations, safe 
 deposit companies, trust companies, savings and trust com- 
 panies, and combinations of any.two or more of such corpo- 
 rations, heretofore incorporated in this state which have 
 paid in the amount of capital stock required by this chapter 
 to enable them to commence business, if they so elect, may 
 avail themselves of the privileges and powers herein con- 
 ferred, by signifying such election and declaration under 
 their seal, attested by the signature of the president and 
 secretary, to the secretary of state and the superintendent 
 of banks, which such secretary shall record, and his certifi- 
 cate be evidence thereof. When such election and declara- 
 tion is so recorded, it shall confer all the privileges and 
 powers conferred by this chapter, and from that time such 
 association or corporation shall be governed by its provis- 
 ions. (99 v. 276 Sec. 36.) 
 
 SECTION 9742. Such election and declaration shall be 
 made only when authorized by a vote of at least two-thirds 
 of the capital stock at a meeting of stockholders, thirty 
 days’ notice of which meeting, and of the business to come 
 before it, has been given by a majority of the directors in a 
 newspaper published and of general circulation in the 
 county where such association or corporation has-its prin- 
 cipal place of business. But after April 1, 1910, every such 
 corporation or association in all respects must conform its 
 business and transactions to the provisions of this chapter. 
 
 (99 v. 276 Sec. 36.) 
 
 SECTION 9743. When a corporation which has adopted 
 the provisions of this chapter, or a corporation hereafter 
 incorporated desires to enlarge the objects or purposes for 
 which it was formed, so as to combine one ot more of the 
 different classes of business herein authorized with that for 
 which it is already incorporated, or desires to diminish the 
 objects or purposes for which it was formed, or desires to 
 modify such objects in any other respect, it may do so by 
 amendments to its articles of incorporation in the manner 
 provided for other corporations . (99 v. 276 Sec. 36.) 
 
 Separate 
 books for 
 each class 
 of business. 
 
 How banks 
 heretofore 
 organized to 
 be governed. 
 
 Declaration of 
 acceptance. 
 
 Amendments. 
 
Investments 
 heretofore 
 made. | 
 
 Advertisement 
 of capital 
 prohibition. 
 
 Penaity. 
 
 Consolidation. 
 
 Manner of 
 consolidation. 
 
 State. Use 
 of word 
 restricted. 
 
 32 
 
 Section 9744. Nothing in this chapter shall affect the 
 legality of investments heretofore made, or of transactions 
 heretofore had, but the superintendent of banks may re- 
 quire the change of investments for those named herein, as 
 it can be done by the sale or redemption of securities so 
 invested in, in such manner as to prevent loss or injury to 
 the bank. No renewal or.extension of such a loan or invest- 
 ment shall be made by such a corporation unless it be 
 approved by the superintendent of banks. (99 vy. 276 
 
 SECi2377) 
 
 SEcTION 9745. It shall be unlawful for a commercial 
 bank, savings bank, safe deposit company, trust company, 
 or combination of any two or more of such incorporations, 
 or any other corporation governed by the provisions of this 
 chapter, to advertise by newspaper, letter head, or in any 
 other way, a larger capital than actually has been paid in. 
 (90. 277 “Sec, =38z) 
 
 SECTION 9746. <A corporation violating the provisions 
 of the preceding section, shall forfeit and pay to the state 
 of Ohio five hundred dollars for each and every such offense. 
 to be recovered with costs of suit in an action, to be prose- 
 cuted by the superintendent of banks, before any court of 
 competent jurisdiction in the county wherein it is located. 
 All moneys collected for penalties. under this section shall 
 be paid into the state treasury, to the credit of the banking 
 department fund. Two or more violations of the provisions 
 of such section may be joined in the same prosecution. (99 
 V;. 27 7ESCG 250) 
 
 Section 9748. A corporation which in good faith is 
 winding up its business for the purpose of consolidating 
 with another may transfer its assets and liabilities to the 
 corporation with which it is in process of consolidation. 
 No such consolidation in any way shall affect the rights of 
 creditors in the collection of their claims against such cor- 
 porations or either of them. (99 v. 277 Sec. 40.) 
 
 SECTION §y52. Any corporation doing business under 
 this chapter may consolidate with another, also doing busi- 
 ness under this chapter, in the manner provided by law for 
 the consolidation of savings and loan associations and safe 
 deposit and trust companies. (99 v. 278 Sec. 45.) 
 
 SECTION 9752-1. It shall be unlawfu) for any bank not 
 organized or transacting business under the provisions of 
 Part Second, Title 7, Division 5, Chapter 2, of the General 
 Code, and all persons, corporations, firms or partnerships 
 doing the business of bankers, brokers or savings institu- 
 tions, not organized or transacting business under the pro- 
 visions of this chapter, to use the word “State” as a portion 
 of the name or title of such bank, corporation, firm, or 
 partnership. (102 v. 56.) 
 
 Ee ae a a a ae 
 
33 
 
 SECTION 9752-2. Any violation of the provisions con- 
 tained in the preceding section shall subject the party 
 chargeable therewith to a penalty of fifty dollars for each 
 day during which it is committed or repeated, to be recov- 
 ered with costs of suit in an action, to be prosecuted by 
 the Superintendent of Banks, before any court having juris- 
 diction of such bank or of such person, corporation, firm or 
 partnership. All moneys collected for penalties under this 
 section shall be paid into the state treasury, to the credit 
 of the banking department fund. (102 vy. 56.) 
 
 COMMERCIAL BANKS. 
 
 SECTION 9753. A commercial bank may purchase, 
 lease, hold and convey real estate only as follows: 
 
 a, Real estate whereon is erected or may be erected a 
 building or buildings useful for the convenient transaction 
 of its business, and from portions of which, not required 
 for its use, a revenue may be derived; but the cost of such 
 building or buildings and the real estate whereon they are 
 erected, in no case shall exceed sixty per cent. of its paid-in 
 capital and surplus: 
 
 b. Such as is mortgaged or conveyed to it in good 
 faith by way of security for loans made by or money due 
 to such corporation, 
 
 c. Such as has been purchased by it at sales upon the 
 ‘foreclosure of mortgages owned by it, or on judgments or 
 decrees obtained or rendered for debts due to it, or in 
 settlements effected to secure such debts. All real property 
 referred to in this paragraph shall be sold by such corpora- 
 tion within five years after it vested therein, unless upon 
 application by the board of directors, the superintendent of 
 banks extends the time within which such sales shall be 
 made; 
 
 d. Such corporation also shall have power by lease to 
 acquire a suitable building for the convenient transaction of 
 its business, and from portions of which, not needed for its 
 Own use, a revenue may be derived. (99 v. 279 Sec. 46.) 
 
 SECTION 9754. A bank doing business as a commercial 
 bank, shall not lend, including overdrafts, to any one per- 
 son, firm or corporation, more than twenty per cent. of its 
 paid-in capital and surplus, unless such loan be secured by 
 first mortgage upon improved farm property in a sum not 
 to exceed sixty per cent. of its value. The total liabilities, 
 including overdrafts, of a person, company, corporation, or 
 firm to any bank, either as\principal debtor or as security 
 or indorser for others, for money borrowed, at no time shall 
 exceed twenty per cent. of its paid-in capital stock and sur- 
 plus. But the discount of bills of exchange drawn against 
 actually existing values, and the discount of commercial or 
 business paper actually owned by the person, company, cor- 
 poration or firm negotiating it, shall not be considered as 
 money borrowed. (99 v. 279 Sec. 47.) 
 
 DR SB) 
 
 What real 
 estate may 
 be held. 
 
 Loan to one 
 person limited. 
 
Unauthorized 
 deposits 
 deemed 
 loans. 
 
 General reso- 
 lution as to 
 real estate. 
 
 Powers. 
 
 Investment of 
 capital, sur- 
 plus and de 
 posits. 
 
 34 
 
 SECTION 9755. The deposits of funds in a bank or 
 trust company, not duly designated as a depository by the 
 board of directors ‘as hereinafter. provided, shall be held to 
 be a loan within the meaning of the preceding section. (99 
 
 Vc. 270 sDeCiA tad 
 
 Section 9756. Loans by a commercial bank upon - 
 
 mortgage or other forms of real estate security, shall not 
 be made until after the adoption of a general resolution 
 by a two-thirds vote of the board of directors, stating to 
 what extent its officers may loan on real estate. The 
 aggregate amount of such loans shall not exceed fifty per 
 cent. of the capital, surplus and deposits of such corpora- 
 tion, except that, if a bank combines the business of a 
 commercial and savings bank, it may lend up to sixty per 
 cent. of its capital stock, surplus and deposits upon real 
 estate security, after the adoption of a general resolution 
 authorizing it by two-thirds vote of the board of direc- 
 tors. Such loans shall be upen real estate, situated in 
 this state, or in states immediately adjacent thereto, and 
 inclusive of prior incumbrances shall not exceed forty per 
 cent. of the value of such real estate, if unimproved, and 
 if it is improved, sixty per cent. of its valug The 1m- 
 provement shall be kept adequately insured. (99 v. 279 
 Seco 46.) , 
 
 SECTION 9757. A commercial bank may receive de- 
 
 posits on which interest may be allowed. All deposits in’ 
 
 such banks shall be payable on demand without notice, 
 except when the contract of deposit otherwise provides. 
 A commercial bank also may loan money on personal 
 security, discount, buy, sell or assign promissory notes, 
 
 drafts, bills of exchange, and other evidences of debt, and | 
 buy and sell exchange, coin and bullion. (99 v. 280 
 
 Sec. 49.) 
 
 SECTION 9758. Subject to the provisions of the pre- 
 ceding section commercial banks may invest their capital, 
 surplus and deposits in, or loan them upon: 
 
 a. Personal or collateral securities. 
 
 eee A Pern 
 
 b. Bonds or other interest-bearing obligations of the ~ 
 United States, or those for which the faith of the United — 
 States is pledged to provide payment of the interest and | 
 
 principal, including bonds of the District of Columbia; also 
 
 in bonds or other interest-bearing obligations of any for-_ 
 
 eign government. 
 
 /c. Bonds of interest-bearing obligations of this or 
 
 any other state of the United States. 
 (d. The legally issued bonds or interest-bearing obli- 
 gations of any city, village, county, township, school dis- 
 
 trict or other district, or political subdivision of this or 
 
 any other state or territory of the United States and of 
 Canada. | 
 
 regularly incorporated company, which has paid, for at 
 
 le. Mortgage bonds or collateral trust bonds of any 
 
 ¥ 
 
 t 
 
 th 
 na 
 J 
 : 
 
 :. 
 
 “x 
 
 ea 
 KA 
 
31) 
 
 least four years, dividends at the rate of at least four 
 per cent. on their capital stock. Such loan shall not ex- 
 ceed eighty per cent. of the market or actual value of such 
 bonds, the purchase of which first has been authorized by 
 the directors. All such securities having a fixed maturity 
 shall be charged and entered upon the books of the bank at 
 their cost to the bank, or at par, when a premium is paid, 
 and the superintendent of banks shall have the power to 
 require any security to be charged down to such sum as in 
 his judgment represents its value. The superintendent of 
 banks may order that any such securities which he deems 
 undesirable be sold within six months. 
 
 f. Notes secured by mortgage on real estate, where 
 the amount loaned thereon inclusive of prior incumbrances 
 does not exceed forty per cent. of the value of the real 
 estate if unimproved, and if improved sixty per cent. of its 
 value, including improvements, which shall be kept ade- 
 quately insured. Not more than fifty per cent. of the 
 amount of the paid in capital, surplus and deposits of such 
 bank-at any time shall be invested in such real estate secu- 
 mes. 4 Fo2-V; 173 Sec: x.) 
 
 SECTION 9759. Commercial banks shall keep as re- Reserve 
 
 serve at least fifteen per cent. of their total deposits, at f"4. 
 _ least six per cent. of that part of such deposits which is 
 
 payable on demand, and at least four per cent. of that 
 
 part of such deposits which are time deposits shall be kept 
 
 in the vaults of the bank in lawful ragney, national bank 
 
 notes or bills, notes, and gold or silvet certificates issued 
 
 by the United States. That part of such reserve not so 
 
 kent, shall be kept, subject to demand, in other banks or 
 
 trust companies, designated by resolution of the board of 
 
 directors for that purpose, a copy of which upon its adop- 
 
 tion, shall be forthwith certified to the superintendent of 
 
 banks, and the depository thus designated shall be subject 
 
 to the approval of the superintendent of banks. 
 
 If the superintendent of banks withholds his approval, 
 appeal may be made to a board to be composed of the gov- 
 ernor, the attorney general and the superintendent of banks, 
 whose decision shall be final. (102 v. 173 Sec. 1.) 
 
 SECTION 9760. When the reserve of a commercial Restoring of 
 bank falls below the amount required by the preceding sec- "serve fund. 
 tion, it shall not make new loans or discounts, otherwise 
 than by discounting or purchasing bills of exchange, pay- 
 able at sight or on demand, nor make dividends of its 
 profits, until the reserve required by law is restored. The 
 _ superintendent of banks shall notify any bank whose reserve 
 falls below the amount required, immediately to make such 
 _teserve good. In case the bank fails for thirty days there- 
 after to make good its reserve, the superintendent of banks 
 may forthwith take possession of the property and busi- 
 ness of such commercial bank until its affairs be finally 
 liquidated, as herein provided. (101 v, 284 Sec. 1.) 
 
 i. 
 = 
 hd 
 
 a 
 
 o 
 | es, 
 
Purchase of 
 own stock, 
 
 What real 
 estate may 
 be held. 
 
 Deposits, rate 
 of interest. 
 
 Reserve 
 fund. 
 
 36 
 
 Section 9761. No commercial bank, savings bank, 
 safe deposit company or trust company shall loan money 
 on the security or pledge of the shares of its capital stock; 
 nor be the purchaser or holder of any such shares, unless 
 such security or purchase be necessary to prevent loss upon 
 a debt previously contracted in good faith. Stock so ac- 
 quired, shall within six months from the time of its pur- 
 chase, be sold or disposed of at public sale on thirty days’ 
 notice from the superintendent of banks, and in default 
 thereof the superintendent of banks may forthwith take 
 possession of the property and business of such corporation 
 until its affairs be finally liquidated, as herein provided. 
 (tor v. 284 Sec. 1.) 
 
 SAVINGS BANKS. 
 
 SECTION 9762. A savings bank may purchase, lease, 
 hold and convey real estate for the purposes and in the 
 
 -manner herein before provided as to commercial banks, and 
 
 subject to like restrictions and limitations. (99 v. 281 
 Sec SH7) 
 
 Section 9763. A saving bank may receive on deposit 
 any sum of money offered for that purpose by any person, 
 firm, society or corporation, or by any municipal corpora- — 
 tion, township, school district, county or state, or other 
 body politic, or which is ordered to be deposited by any 
 court of this or any other state, or of the United States, 
 having custody of money, and make investments thereof in 
 the manner provided herein. It also may credit and pay 
 such rates of interest thereon as may be agreed upon. (99 
 V..250 eCun so 
 
 SECTION 9764. _ Savings banks shall keep as reserve 
 at least ten per cent of their time deposits, and at least 
 fifteen per cent of their demand deposits; at least six per 
 cent of that part of such deposits which is payable on 
 demand, and at least two per cent of that part of such 
 deposits which are time deposits shall be kept in the vaults 
 of the bank in lawful money, national bank notes, or bills, 
 notes, and gold or silver certificates issued by the United 
 
 States; not more than three-tenths of such reserve for time “4 
 deposits may be invested in the securities namved in para- 
 
 graphs “b” and ‘“c” of section 9758 of the General Code 
 or the bonds of any city or county within this state; that 
 part of such reserve not so kept or invested, shall be kept, 
 subject to demand in other banks or trust companies, as 
 designated by resolution of the board of directors for that 
 purpose, a copy of which, upon its adoption, shall be forth- — 
 with certified to the superintendent of banks and the de- ~ 
 
 pository thus designated shall be subject to the approval 
 
 of the superintendent of banks. If the superintendent of 
 banks withholds his approval, appeal may be made in the — 
 manner provided in section 9759 of the General Code. — 
 (104 v. 185 Sec. 4) 
 
37 
 
 SECTION 9765. A savings bank may invest the residue 
 of its funds in, or loan money on, discount, buy, sell or 
 assign promissory notes, drafts, bills of exchange and other 
 evidences of debt and also invest its capital, surplus and 
 
 _ deposits in, and buy and sell the following: 
 
 a, The securities mentioned in section. ninety-seven 
 hundred and fifty-eight, subject to the limitations and re- 
 strictions therein contained, except that savings banks may 
 loan not more than seventy-five per cent of the amount of 
 the paid-in capital, surplus and deposits on notes secured by 
 mortgage on real estate. But all loans made upon personal 
 security shall be upon notes with two or more signers or one 
 or more indorsers, payable and to be be paid at a time not 
 exceeding six months from the date thereof. In the aggre- 
 gate, not exceeding thirty per cent. of the capital, surplus 
 and deposits of a savings bank shall be so invested. 
 
 b. Stocks, which have paid dividends for five consec- 
 utive years next prior to the investment, bonds, and promis- 
 
 sory notes of corporations, when this is authorized by an 
 
 affirmative vote of a majority of the board of directors or 
 by the executive committee of such savings bank. No pur- 
 chase or investment shall be made in the stock of any other 
 corporation organized or doing business under the provis- 
 ions of this chapter. The superintendent of banks may 
 order any such securities which he deems undesirable to be 
 sold within six months. 
 
 c. Promissory notes of individuals, firms or corpora- 
 tions, when secured by a sufficient pledge of collateral 
 approved by the directors, subject to the provisions of sec- 
 tions ninety-seven hundred and fifty four and ninety-seven 
 hundred and fifty-five. (99 v. 282 Sec. 57.) 
 
 SECTION 9766. When the reserve of any savings bank 
 falls below the amount required, it shall be governed by 
 the provisions of section ninety-seven hundred and sixty. 
 
 (99 v. 282 Sec. 58.) 
 SECTION 9767. The board of directors shall prescribe 
 
 | the terms on which deposits shall be received and paid out, 
 and the mode of transacting, managing and conducting the 
 
 affairs and business of the bank. (99 v. 283 Sec. 59.) 
 
 SEcTION 9768. A pass book shall be issued to each 
 depositor in the savings department, containing the rules 
 and regulations adopted by the board of directors governing 
 such deposits, in which shall be entered each deposit made, 
 the interest allowed thereon, and each payment made to 
 
 each depositor. By accepting such book the depositor 
 
 -assents and agrees to the rules and regulations therein con- 
 
 tained. (99 v. 283 Sec. 60.) 
 
 _ SECTION 9769. No payment or check against any sav- 
 ings bank account shall be made or paid unless accompanied 
 by and entered in the pass book issued therefor, except for 
 good cause and on assurance satisfactory to the officers of 
 
 Investments. 
 
 Decrease of 
 reserve fund. 
 
 Terms govern- 
 ing deposits, 
 
 Pass books. 
 
 Payment of 
 checks, 
 
Provisions as 
 to munors. 
 
 Limit to lia- 
 bility of any 
 one person. 
 
 Savings 
 societies 
 organized 
 under act of 
 1867 may con- 
 tinue business 
 under General 
 Code. 
 
 May invest 
 their funds 
 in county 
 or municipal 
 bonds and 
 charge 8% 
 interest on 
 loans. 
 
 May invest 
 in land or 
 buildings. 
 
 May invest 
 in steamship 
 first mort 
 gage bonds. 
 
 38 
 
 the bank; but nothing herein shall prevent savings banks 
 issuing time certificates of deposit or certificates for deposit 
 specially issued according to the rules and regulations gov- 
 erning savings deposits. (99 v. 283 Sec. 61.) 
 
 SECTION 9770. When an account is opened in a sav- 
 ings bank by a minor it shall be payable to such minor, and 
 payment to him shall be as valid as if he were of legal 
 age. (99 v. 283 Sec. 62.) 
 
 SecTION 9771. The total liabilities, including over- 
 drafts of any person, company, corporation, or firm to a 
 savings bank, either as principal debtor or as security or 
 indorser for others, for money borrowed, at no time shall 
 exceed twenty per cent. of the paid up capital and surplus 
 
 of such corporation, But the discount of bills of exchange ~ 
 
 drawn against actually existing values, and the discount of 
 commercial or business paper actually owned by the person, 
 company, corporation or firm negotiating it shall not be 
 considered as money borrowed. (99 v. 283 Sec. 63.) 
 
 SECTION 9810. Associations incorporated under the 
 act entitled ‘“‘an act to incorporate savings societies,’ passed 
 April 16, 1867, and the act passed March 19, 1868, entitled 
 “an act to amend an act entitled, ‘an act to incorporate 
 savings societies’, passed April 16, 1867,” may continue 
 their business under such acts, and without prejudice to any 
 rights acquired. Such institutions and other savings and 
 loan institutions organized under the laws of this state, if 
 they-so elect may continue their business under this chap- 
 ter, (Tit. [IX Div. V, Chap. 3) by signifying such election, 
 under their seal, to the secretary of state, and conforming 
 their action thereto. The secretary shall record it, and his 
 certificate be evidence thereof. (R. S. Sec. 3811.) 
 
 SECTION 9811. Savings societies organized and doing 
 business under the Acts named in the preceding section, in 
 addition to the investments authorized in such acts, may 
 invest their funds in the bonds of a county or municipal 
 corporation issued in pursuance of any law- of this state, 
 
 and charge interest on loans-of-not more than eight per — 
 
 cent. payable semi-annually. (R. S. Sec. 3812:) 
 
 SECTION 9812. Societies for savings, duly incorporated 
 by -the General Assembly, and doing business under ¢heir 
 respective acts of incorporation, may invest in land, and 
 in the, erection of buildings thereon, for the purpose of 
 their own business, such sum as the trustees thereof deem 
 necessary, not to exceed five per cent of the amount of the 
 deposits held by them and also rent any part of such build- 
 ings not needed for their own use. 
 
 SECTION 9813. 
 associations organized, or doing business under the laws 
 of this state, in addition to the powers heretofore conferred — 
 upon such corporations in addition to the investments here~ 
 
 (R. S._Sec.> 3813.) . 
 
 Savings societies, and savings and loan _ 
 2 
 : 
 B 
 
39 
 
 inbefore authorized, may loan and invest the funds, moneys 
 and property owned or received by such companies respect- 
 ively, and to the respective amounts to which they are 
 limited in other loans and investments, in legally authorized 
 first mortgage bonds of steamship companies. Such mort- 
 gage shall be upon steel steamships, or steamships for the 
 carriage of freight, or package, freight and passengers com- 
 
 ‘bined upon the great lakes and connecting waters, of at 
 
 least five thousand tons carrying capacity, each. Such bonds 
 shall be issued at the time of the completion and enrollment 
 of the steamship or steamships, or within five years there- 
 after. The mortgage by express terms shall state that at 
 least ten per cent. of the total issue of such bonds shall be 
 retired, annually, beginning within two years from the date 
 thereof, and the mortgage liability against such property 
 shall not exceed one-half of its actual cost. The terms of 
 such mortgage and the duties of the trustees thereof shall be 
 the same as is provided in section 9823 and 9824. (R. S. 
 Sec. 3821aa.) 
 
 SEcTION 9814. Before a dividend, or interest- on de- 
 posits, is paid by such societies, they must have a surplus 
 fund equal to not less than five per cent. of the whole 
 
 amount of deposits, and gradually increase such fund to 
 
 an amount equal to ten per cent. of the amount of de- 
 
 posits, RS. Sec. 3815.) 
 
 ~ SECTION 9815. All “societies for savings’ and “sav- 
 ings societies” now doing business, whose charters are sub- 
 
 ject to alteration or repeal, may continue their business 
 under their respective charters, after the expiration thereof, 
 _ subject, however, to the repeal of any such charter, and to 
 
 such amendments, alterations, rules, and regulations as may 
 
 _be prescribed, from time to time, by any laws of the state. 
 
 (R. S. Sec. 3814.) 
 
 SAFE DEPOSIT COMPANIES. 
 
 SECTION 9772. A safe deposit company may purchase, 
 lease, hold and convey real estate whereon is erected or 
 may be erected a building or buildings useful for the 
 
 convenient transaction of its business, including fire and 
 
 burglar proof vaults and safes, and from portions of which, 
 
 “not. required for its own use, a revenue may be derived. 
 
 The cost of such buildings and the real estate whereon they 
 are erected in no case shall exceed fifty per cent. of the 
 
 paid-up capital and surplus of the corporation, Any sum 
 
 not so invested in buildings and real estate may be invested 
 
 In the manner provided herein for the investment of the 
 tunds of savings banks. (99 'v. 283 Sec. 65.) 
 
 SEcTION 9773. A safe deposit company may receive 
 
 property of every kind for safe keeping, collect and dis- 
 
 burse the interest or income or principal of securities on 
 ‘such terms as are agreed upon, and also act as agent, for 
 
 At least 10% 
 must be 
 retired 
 annually. 
 
 Must have 
 surplus fund 
 equal to 5% 
 of deposits. 
 
 May continue 
 business 
 under old 
 charter. 
 
 What ‘real 
 estate’ may 
 be held. 
 
 Powers to 
 act as agent. 
 
Powers of 
 safe deposit 
 and trust 
 companies. 
 
 May act 
 as agent 
 or trustee. 
 
 Courts may 
 order money 
 deposited with 
 company. 
 
 May receive 
 money or 
 property held 
 in trust. 
 
 How trust 
 money loaned 
 or invested. 
 
 40 
 
 the purpose of registering, countersigning or transferring 
 the certificates of stock, bonds or other evidence of indebt- 
 edness of any corporation, association, municipality, state 
 or public authority, on such terms as are agreed upon. 
 
 (99 v. 283 Sec. 65.) 
 
 SEcTION 9816. Safe deposit and trust companies by 
 lease or purchase may provide a proper and secure fireproof 
 building or buildings and fire and burglar proof vaults, or — 
 safes, receive on deposit for safe keeping, government 
 securities, stocks, bonds, coins, jewelry, plate, valuable 
 books, papers, documents and other property of every kind, 
 collect and disburse the interest or income upon such prop- 
 erty received on deposit as produces interest on income, 
 and collect and disburse the principal of such of the prop- 
 erty as produces interest or income when it becomes due, 
 upon terms prescribed by such company so receiving the 
 property. (R. S. Sec. 38214.) 
 
 SECTION 9817. Such companies also may act as agent 
 or trustee for the purpose of registering, countersigning 
 or transferring the certificates of stock, bonds, or other evi- 
 dences of indebtedness of a corporation, association, munici-, 
 pality, state or public authority, upon such terms as are 
 agreed upon. (R. S. Sec. 3821a.) 
 
 SECTION 9818. Any court in this state, including pro- 
 bate courts, may by order, decree or otherwise, direct 
 moneys or properties under its control, or paid into court 
 by parties to an action or legal proceedings, or which are 
 brought into court by reason of an order, judgment or de- 
 cree, in equity or otherwise, to be deposited with a safe- 
 deposit and trust company, by such court designated, upon 
 terms, and subject to such instructions as are expedient. 
 But such company shall not be required to assume or exe- 
 cute a trust. without its own consent. (R. S. Sec. 38214.) 
 
 SECTION 9819. Such companies also may receive and 
 hold moneys, or property in trust, or on deposit from ex- 
 ecutors, administrators, assignees, guardians, trustees, cor- 
 porations or individuals upon such terms and conditions as 
 may be agreed upon between the parties. (R. S. Sec. 
 38214.) 
 
 SECTION 9820. All moneys or properties received in 
 trust by such companies, unless by the terms of the trust 
 some other mode of investment is prescribed, together with 
 the capital of the company, shall be loaned on or invested 
 only in the authorized loans of the United States,, or of the 
 State of Ohio, or cities, counties, or villages of this state, 
 or the stocks or bonds of any state in the Union that for 
 five years previous to such investment being made, regularly 
 has paid the interest on its legal bonded debt in lawful 
 money of the United States, or cities, counties or villages 
 of such states, which so paid the interest on their legal 
 
See se 
 
 : 
 
 al 
 
 bonded debts, or stocks of national banks organized within 
 
 this state, or the first mortgage bonds of a railroad com-. 
 
 pany within the states above named, which earned and paid 
 regular dividends on its stock for five years next preceding 
 such loan, or investment, or first mortgages on real estate 
 in this state or of individuals with a sufficient pledge of 
 any of such securities, or they maybe loaned to this state, 
 or to a county, city or village therein. (R. S. Sec. 38214.) 
 
 Section 9821. No loan shall be made, directly or in- 
 directly, to an officer, employe, or trustee of such a com- 
 pany, and not more than ten per cent of its capital may be 
 invested in one security or loan, except in providing a 
 building and vaults. Real estate not needed by such com- 
 panies for the transaction of their business, which is ac- 
 quired by foreclosure of mortgage or by levy of execution, 
 shall be offered for sale, and if practicable be sold within 
 two years after it is so acquired. (R. S. Sec. 38212.) 
 
 SECTION 9822. Safe deposit and trust companies or- 
 ganized, or doing business under the laws of this state, in 
 addition to the powers heretofore conferred upon such 
 corporations, in addition to the investments hereinbefore 
 authorized, may loan and invest the funds, moneys and 
 property owned or received by such companies respectively 
 and to the respective amounts to which they are limited in 
 other loans and investments, in legally authorized first mort- 
 gage bonds of steamship companies. Such mortgage shall 
 be upon steel steamships or steamships for the carriage of 
 freight,or package, freight and passengers combined upon 
 the great lakes and connecting waters, of at least five thou- 
 sand tons carrying capacity, each. Such bonds shall be 
 issued at the time of the completion and enrollment of the 
 steamship or steamships, or within five years thereafter. 
 The mortgage by express terms shall state that at least ten 
 per cent of the total issue of such bonds shall be retired, 
 annually, beginning within two years from the date thereof, 
 and the mortgage liability against such property shall not 
 exceed one-half of its actual cost. (R. S. Sec. 3821aa.) 
 
 SECTION 9823. The terms of such mortgage shall 
 specifically state that the mortgagor shall not suffer any 
 steamships so mortgaged to be indebted at any time in an 
 amount in the aggregate exceeding five per cent of its 
 actual cost, and that the failure of the mortgagor forthwith 
 to procure the release of mechanics’, laborers’, admiralty, 
 statutory or other liens, claims or charges against such 
 steamship, shall constitute a default in the provisions of the 
 mortgage. (R. S. Sec. 382142.) 
 
 SECTION 9824. The trustees of such mortgage shall 
 be required to protect such lien by attending to the record- 
 ing thereof, and causing the property covered to be insured 
 against all risks on vessel property ordinarily covered by 
 
 Limit on 
 loans or 
 investments, 
 
 Investments in 
 first mortgage 
 bonds of 
 steamship 
 companies. 
 
 Terms of the 
 mortgage. 
 
 Insurance of 
 property 
 mortgaged. 
 
Accounts of 
 trust money 
 to be kept 
 separate. 
 
 Trust depart- 
 ment. 
 
 Must maintain 
 reserve of 
 fifteen per 
 cent. 
 
 May be ap- 
 pointed 
 trustee. 
 
 Capital held 
 ap security. 
 
 42 
 
 such insurance, including marine risks and disasters gen- 
 eral and particular average, collision, liability, protection 
 and indemnity insurance, and insurance against liability for 
 injuries to persons in insurance companies, and under forms 
 of policies approved by the trustees for an amount equal 
 to the full insurance value of such steamship or steamships. 
 Such insurance shall be made with loss payable to the trus- 
 tee and the policies deposited with him. (R. S. Sec. 
 3821 aa. ) 
 
 SECTION 9825. 
 shall constitute a deposit in the trust department, and the 
 accounts thereof shall be kept separate, and such funds and 
 the investemnt or loans of them be especially appropriated 
 to the security and payment of all- such deposits, and not 
 subject to other liabilities of the company. (R. S. Sec. 
 382Tb.) 
 
 SECTION 9826. For the purpose of securing the ob- 
 servance of the preceding section, such companies shall 
 have a trust department in which all business pertaining 
 
 to such trust property shall be kept separate and distinct. 
 
 from its general business. 
 
 CRI Si Seen362rp.) 
 
 SECTION 9827. Such a company shall keep on hand in 
 lawful money of the United States as a reserve, an amount 
 equal to fifteen per cent of all deposits, payable’on demand 
 or within ten days. When such reserve is below such per 
 cent of such deposits, the company shall not make new 
 loans, nor pay a dividend of its profits until the required 
 proportion between the aggregate amount of its deposits 
 and reserve is restored. But clearing house certificates 
 
 representing specie or lawful money specially deposited in 
 
 the vault of such company or the United States sub-treas- 
 ury for the purpose of a clearing house association of 
 which it is a member, may be recorded as a part not ex- 
 ceeding one-third of such reserve, if one other third of 
 such fifteen per cent consists of bonds of the United. States 
 or this state, the absolute property of the company, and 
 the remaining third of such fifteen per cént is in lawful 
 money of the United States. (R..S. Sec. 382rb.) 
 
 SECTION 9828. Such company may be appointed trustee 
 under any will or, instrument creating a trust for the care 
 and management of property, under the circumstances, in 
 the manner, and subject to the control by the court having 
 jurisdiction thereof, as in the case of a legally qualified 
 petsdy. TURKS: Sec. 382 1b.) 
 
 __ SECTION 9829. The capital stock of such company, 
 with the liabilities of the stockholders existing thereunder, 
 
 shall be held as security for the faithful discharge of the - 
 
 duties undertaken by virtue of the foregoing and following 
 provisions, and surety shall be required upon the bonds 
 filed by the company, as in other cases. (R. S. Sec. 3821b.) 
 
 All money or pee held in trust 
 
 £ 
 : 
 
f 
 43 
 
 SEcTION 9830. In proceedings in the probate court, 
 or elsewhere, connected with any authority exercised under 
 such provisions, all accounts, returns and other papers may 
 be signed and sworn to in behalf of such company by an 
 officer thereof duly authorized by it. The answers and ex- 
 amination under oath, of such officer, shall be received as 
 the answers and examination of the company. The court 
 may order and compel any of its officers to answer and 
 attend such examinations as if they were parties to the pro- 
 ceedings or inquiry, instead of such company. Such a com- 
 pany shall not be required to receive or hold property or 
 “moneys, or to execute a trust contrary to its own desire. 
 
 Ciao. ec. 382th.) 
 
 Srction 9831. In the management of money and prop- 
 erty held by it as trustee, under the powers conferred by 
 law, such company shall invest such money and: property 
 in a general trust fund of the company. But it shall be 
 - competent for the authority making the appointment, upon 
 conferring it to direct whether such money and property 
 shall be held separately or invested in a general trust fund 
 of the company. The company always shall follow and be 
 entirely governed by the directions contained in any will or 
 _ instrument under which it acts. (R. S. Sec. 3821b.) 
 
 SECTION 9832. No money, property or securities re- 
 ceived or held by such a company under the provisions of 
 law establishing~a trust department, shall be mingled with 
 the investments of the capital stock or other moneys or 
 property belonging to it, or be liable for its debts or obliga- 
 etions. (R. S. Sec. 3821b.) 
 
 SECTION 9833. Each stockholder of such company 
 ~ shall be held individually liable for all contracts, debts and 
 engagements thereof, to the extent of unpaid dues on the 
 shares of stock by him or her owned. (Const. Art. XIII, 
 Memes cS. oec. 382rb. ) eas: 
 
 SECTION 9834. Within six months after the incorpora- 
 tion of such company, its trustees must notify the auditor 
 of state of the date of the organization. Within ten days 
 after the annual meeting thereof in each year, under oath, 
 such trustees shall make a complete statement of the con- 
 dition of the company, in which they shall specify the 
 different kinds of its liabilities, and assets, stating the 
 amount of each kind, which statement shall be filed with 
 the auditor of state, and published in his annual report. 
 The trustees also shall publish it in a newspaper of general 
 circulation in the county in which the principal office of the 
 company is located. (R. S. Sec. 3821.) 
 
 SEcTION 9835. Such auditor, at any time, through an 
 expert appointed by him, may make a full examination of 
 the affairs and condition of every such company. (R. S. 
 Sec. 3821b.) 
 
 How papers 
 executed. 
 
 How ‘money 
 held in trust 
 invested. 
 
 Trust money 
 not mingled 
 or held for 
 debts. 
 
 Liability of 
 stockholders. 
 
 Trustees must 
 notify auditor 
 of organiza- 
 tion. 
 
 Auditor may 
 examine 
 affairs at 
 any time. 
 
By-laws; 
 dividends. 
 
 Stock to be 
 paid up. 
 
 Increase of 
 
 capital stock. 
 
 Assignment 
 and transfer 
 of stock. 
 
 Loans and 
 investments 
 in stock. 
 
 Limit of 
 investment 
 or loan. 
 
 . 44 
 
 SECTION 9836. By their by-laws, as often as they deem 
 proper, the trustees of such company may make and declare 
 
 dividends of its profits after paying its expenses and setting 
 
 aside the reserve hereinbefore required, and such other 
 amount as they deem advisable wherewith to meet any con- 
 tingency in its business. The dividends authorized herein 
 shall be payable to the shareholders within twenty days 
 after the time they are so declared. (R. S. Sec. 3821b.) 
 
 SECTION 9837. No such company shall begin business 
 until all of its authorized capital has been paid up in cash. 
 CREsoe 6c abet) 
 
 SEcTION 9838. A safe deposit and trust company may 
 increase its capital stock as provided by sections eighty-six 
 
 hundred and ninety-eight and eighty-six hundred and ninety- 
 
 nine with respect to corporations for profit, and in case of 
 such increase, either by preferred or common stock, its 
 board of directors may sell such increase, or additional 
 stock, at such price, not less than par, as they deem best 
 and to the company’s interest. (R. S. Sec. 3821b.) 
 
 Srcrion 9839. The stockholders of such company may 
 provide and determine conditions upon which its shares of 
 stock shall be assignable and transferable, and they shall 
 be assignable and transferable according to the rules, reg- 
 ulations, and on such conditions as the stockholders for 
 that purpose make and establish, and not otherwise. (R. 5S. 
 Sec. 3821b.) 
 
 ‘ SecTION 9840. Any safe deposit and trust company 
 duly organized and exclusively engaged in the business of 
 a safe deposit and trust company, may loan or invest moneys 
 or properties received in trust by it together with its cap- 
 ital, in the following securities, in addition to those now 
 authorized by law: The stocks of gas light and coke com- 
 panies, gas companies, gas and electric light companies, or 
 stocks of street railway companies which have paid regular 
 dividends thereon for five years next preceding such loan 
 or investment, and are located in the county in which such 
 safe deposit and trust company is located, or in which it 
 has its principal office. (R. S. Sec. 3821¢.) 
 
 SEcTION 9841. But no investment of moneys or prop- 
 erties held in trust by such company, or investment of any 
 part of its capital shall be made in the stock of a gas light 
 and coke company, gas company, gas and electric light com- 
 pany, or street railway company, unless authorized by its 
 board of directors by resolution entered upon its minutes. 
 Not more than ten per cent. of the capital of a safe deposit 
 and trust company shall be invested or loaned in any one 
 security or loan. (R. S. Sec. 3821g.) 
 
 OT ee ee aT ae 
 
45 
 
 COMBINATION OR CONSOLIDATION OF SAFE 
 DEPOSIT AND TRUST ‘COMPANIES, 
 AND SAVINGS AND LOAN 
 ASSOCIATIONS. 
 
 SECTION 9842. Any company now incorporated under 
 the laws of this state, as a savings and loan association, 
 with a paid up capital stock of not less than two hundred 
 thousand dollars, and doing business in Ohio, or any com- 
 pany heretofore so organized as a safe deposit and trust 
 company, also may engage in business as a safe deposit 
 and trust company, under and in accordance with the pro- 
 visions governing safe deposit and trust companies. (R. S. 
 Sec. 3821gg.) 
 
 SECTION 9843. But no such company shall engage in 
 business as a safe deposit and trust company, until the 
 holders of at least two-thirds in amount, of its capital stock 
 vote in favor of so doing, at a meeting of the stockholders 
 called for the purpose of considering that question. If such 
 stockholders vote in favor of a resolution to engage in 
 business as a safe deposit and trust company, as provided 
 herein, the president and secretary of such corporation 
 shall make a certificate under its seal, showing the action 
 ofthe stockholders, the number of shares voted in favor 
 of the proposition, and file it in the office of the secretary 
 of state. Thereupon such corporation shall possess the 
 powers, and be subject to the regulations, obligations, lia- 
 bilities and conditions which safe deposit and trust com- 
 panies have and are subject to, under the law of their 
 creation. (R. S. Sec. 382I1gg.) 
 
 SECTION 9844. Any corporation organized to exercise 
 the powers granted to savings and loan associations or to 
 safe deposit and trust companies, when not less than one- 
 fourth of the capital stock of each is held by the same per- 
 sons, and their boards of directors, or trustees are composed 
 in whole or in part of the same persons, may consolidate 
 themselves into a single corporation under a name and on 
 such terms as is approved by not less than two-thirds of 
 the stockholders of each company. (95 v. 531 P. 1.) 
 
 SECTION 9845. The proceedings to effect such consoli- 
 dation shall be the same as those provided by law for the 
 consolidation of railroad companies. (95 v. 531 P. 2.) 
 
 SEcTION 9846. When the agreement of consolidation 
 is so made and perfected and it or a copy thereof, is filed 
 in the office of the’ secretary of state, the companies, parties 
 thereto, shall be held and taken to be one company possess- 
 ing all the rights, privileges, powers and franchises of the 
 several companies, but subject to the provisions of law 
 relating to the different branches of business of such new 
 
 What com- 
 panies may 
 exercise pow- 
 ers of safe 
 deposit and 
 trust com- 
 panies, 
 
 Consent of 
 stockholders; 
 certificate. 
 
 Consolidation 
 of companies. 
 
 Proceedings. 
 
 Status of com- 
 panies after 
 consolidation. 
 
’ Officers; title 
 to property. 
 
 Right of 
 creditors. 
 
 When fees 
 need not be 
 paid. 
 
 Powers of 
 such com- 
 panies. 
 
 Capital 
 required; 
 deposit. 
 
 46 
 
 company, as though conducted by separate companies. (95 
 V-gate le se) 
 
 Section 9847. The directors and other officers named 
 in the agreement of consolidation shall serve until the first 
 annual election, the time for which shall be named in the 
 agreement. On filing such agreement or of such copy, all 
 
 and singular the property, and rights of every kind of the © 
 
 several companies shall thereby be transferred to and vested 
 in such new company, and be as fully its property as they 
 were of the companies parties to such agreement. (95 v. 
 
 Xe tte 
 
 SecTION 9848. The rights of creditors shall be pre- 
 served unimpaired and the respective companies deemed to 
 be in existence to preserve them. Debts, liabilities and 
 duties of either of such companies thenceforth shall attach 
 to the new company and be enforced against it as if they 
 had been contracted by it. (95 v. 531 P. 4.) 
 
 Section 9849. When the articles of the constituent 
 companies are filed at the same time, by the same incor- 
 porators, and the capital stock named in the agreement of 
 consolidation does not exceed the sum of the capital stocks 
 of the constituent companies the provisions of law as to 
 fees for filing them shall not apply, if the fees were duly 
 paid by the constituent companies and the agreement of 
 consolidation be filed within two years after the creation 
 of such companies. (95 v. 531 P. 5.) 
 
 TITLE GUARANTEE AND TRUST COMPANIES. 
 SEcTION 9850. A title guanatee and trust company 
 
 may prepare and furnish abstracts and certificates of title 
 to real estate, bonds, mortgages and other securities, and 
 
 guarantee such titles, the validity and due execution of — 
 
 such securities, and the performance of contracts incident 
 thereto, make loans for itself or as agent or trustee for 
 others, and guarantee the collection of interest and prin- 
 cipal of such loans; take charge of and sell, mortgage, 
 rent or otherwise dispose of real estate for others, and 
 perform all the duties of an agent relative to property 
 deeded or otherwise entrusted to it. (R. S. Sec. 382I1ggg.) 
 
 Section 9851. No such company shall do business 
 until its capital stock amounts to at least one hundred 
 thousand dollars fully paid up, and until it has deposited 
 with the treasurer of state fifty thousand dollars in securi- 
 ties permitted by sections ninety-five hundred and eighteen 
 and ninety-five hundred and nineteen. Except such de- 
 posit, the capital shall be invested as the board of directors. 
 of such company prescribes. (R. S. Sec. 3821ggg.) 
 
 rs 
 
_- . SECTION 9852. 
 fund or securities deposited with him as security for the 4 
 
 47 
 The treasurer of state shall hold such 
 faithful performance of all guanantees entered into by such 
 
 company, but so long as it continues solvent he shall per- 
 mit it to collect the interest of, or dividends on, its securi- 
 
 _ ties so deposited, and to withdraw them or any part thereof, 
 
 on depositing with him cash or other securities of the kind 
 heretofore named so as to maintain the value of such de- 
 posit at fifty thousand dollars. (R.S. Sec. 3821ggg.) 
 
 SECTION 9853. Any company so organized shall be 
 limited in its operation to only one county in this state, 
 which shall be designated in its application for a charter, 
 except, that if it desires to issue its policies of title insur- 
 ance in more than one county it may issue them in such 
 other county or counties upon depositing with the treasurer 
 
 of state an additional sum of fifty thousand dollars in 
 
 securities as above provided, for each additional county in 
 which it proposes to operate. (R. S. Sec. 3821 g¢¢. ) 
 
 SECTION 9854. If such a company has made deposits 
 
 _ with the treasurer of state as herein required, it may request 
 
 such treasurer to return to it securities in excess of the 
 amount so required, and he shall surrender such excess to 
 the company, taking proper receipts therefor. (R. S. Sec. 
 3821gg8. ) 
 
 SecTION 9855. All companies doing the business of 
 guaranteeing titles to real property shall comply with and 
 
 _ be governed by the foregoing provisions relating thereto. 
 
 But such companies heretofore organized and doing busi 
 ness thereunder, may continue business without prejudice 
 to any rights thereby acquired or obligations incurred. (R 
 S. Sec. 3821ggg.) 
 
 SECTION 9856. Title guanantee and trust companies 
 shall make such reports to the auditor of the state as are re- 
 quired of safe deposit and trust companies and be subject 
 to like examinations and penalties. (R. S. Sec. 3821ggg.) 
 
 TRUST COMPANIES. 
 
 SEcTION 9774. A trust company may purchase, lease, 
 hold and convey real estate, exclusive of trust property, for 
 
 the purpose and in the manner provided by this chapter as 
 
 (a \i ella 
 ¥ \ 
 
 to commercial banks, and subject to like restrictions and 
 limitations. (99 v. 284 Sec. 66.) 
 
 SECTION 9775. Trust companies shall have the same 
 powers in the acceptance and execution of trusts which are 
 now conferred upon them by statute. (99 v. 284 Sec. 67.) 
 
 How deposit 
 eld. 
 
 Operation 
 limited to 
 one county; 
 exception. 
 
 Treasurer to 
 surrender sur- 
 plus deposits. 
 
 Laws by which 
 such com 
 panies gov- 
 erned. 
 
 Reports. 
 
 What real 
 estate may 
 be held. 
 
 Powers. 
 
Deposit of 
 court funds. 
 
 Liability of 
 capital and 
 property. 
 
 Additional 
 securities, 
 
 Deposits with 
 treasurer of 
 State. 
 
 When trust 
 deed or mort- 
 gage void. 
 
 48 
 
 SECTION 9776. Any court in this state, including pro- 
 bate courts, by order, decree or otherwise, may direct 
 moneys or properties under its control, or paid into court 
 by parties to any action or legal proceedings, or which are 
 brought into court by reason of an order, judgment, decree 
 in equity, or otherwise, to be deposited with such trust com- 
 pany as the court designates, upon such terms and subject 
 to such restrictions as may be deemed expedient. (99 v. 
 284 Sec 68.) . 
 
 SECTION 9777. The capital of such corporation, with 
 all its property and effects, shall be absolutely liable in case 
 of default in any of such trust positions. The probate or 
 other court committing a trust to the custody of such corpo- 
 ration, whenever it deems proper, may require additional 
 security in any amount necessary. (99 v. 284 Sec. 69.) 
 
 SEcTION 9778. No such corporation either foreign or 
 domestic shall accept trusts which may be vested in, trans- 
 ferred or committed to it by an individual, or court, until 
 its paid-in capital is at least one hundred thousand dollars, 
 and until such corporation has deposited with the treasurer 
 of state in cash fifty thousand dollars if its capital is two 
 hundred thousand dollars or less, and one hundred thousand 
 dollars if its capital is more than two hundred thousand dol- 
 lars, except that, the full amount of such deposit by such 
 corporation may be in bonds of the United States, or of this 
 state, or any municipality or county therein, or in any other 
 state, or in the first mortgage bonds of any railroad corpo- 
 ration that for five years last past paid dividends of at least 
 three per cent. on its common stock. (99 v. 284 Sec. 69.) 
 
 SEcTION’ 9779. The treasurer of state shall hold such 
 fund or securities deposited with him as security for the 
 faithful performance of the trusts assumed by such corpora- 
 tion, but so long as it continues solvent he shall permit it to 
 collect the interest on its securities so deposited. From time 
 to time said treasurer shall permit withdrawals of such 
 securities or cash, or part thereof, on the deposit with him 
 of cash, or other securities of the kind heretofore named, so 
 as to maintain the value of such deposit as herein provided. 
 (99 v. 284 Sec. 69.) 
 
 SECTION 9780. No such corporation, foreign or do- 
 mestic, authorized to accept and execute trusts, either di- 
 rectly or indirectly through any officer, agent or employe 
 thereof, shall certify to any bond, note or other obligation” 
 to evidence debt, secured by any trust, deed or mortgage 
 upon, or accept any trust concerning property located wholly 
 or in part in this state without complying with the pro- 
 visions of this and the two preceding sections. Any trust, 
 deed or mortgage given or taken in violation of the pro- 
 visions thereof shall be null and void. (99 v. 284 Sec. 69.) 
 
49 
 
 SEcTION 9781. Moneys or properties received on de- 
 posits or in trust by such corporation, unless by the terms 
 of the trust some other mode of investment is prescribed, 
 together with its capital and surplus, excepting such as is 
 required to be kept as a reserve, shall be invested in or 
 loaned only on the following: 
 
 a. The securities mentioned in paragraphs J, c, d, e, f 
 of section ninety-seven hundred and fifty-eight, subject to 
 the limitations and restrictions contained in said para- 
 graphs, except that trust companies shall not loan more 
 than sixty per cent. of the amount of their paid-in capital, 
 surplus and deposits on notes secured by mortgage on real 
 estate ; 
 
 b. Stocks, which have paid dividends for five consecu- 
 tive years next prior to the investment, and bonds of corpo- 
 rations when they are authorized by the affirmative vote of 
 the majority of the board of directors or of the executive 
 committee of such trust company; but the superintendent 
 of banks may order that any such securities which he deems 
 undesirable shall be sold within six months; 
 
 c. Promissory notes of individuals, firms, or corpora- 
 tions, when secured by a sufficient pledge of collateral, ap- 
 proved by the directors, subject to the provisions of sections 
 ninety-seven hundred and fifty-four and ninety-seven hun- 
 
 dred and fifty-five. (99 v. 285 Sec. 70.) 
 
 SECTION 9782. All moneys or properties received in 
 trust by such company, unless by the terms of the trust 
 some other mode of investment is prescribed, together with 
 the capital and surplus of such corporation, also may be 
 invested in ground rents, when authorized by a vote of the 
 board of directors. (99 v. 285 Sec. 70.) 
 
 SECTION 9783. Not more than twenty per cent. of the 
 capital and surplus of any such corporation shall be in- 
 vested in any one security or loan unless it be in bonds or 
 other interest bearing obligations enumerated in paragraphs 
 b, c and d of section ninety-seven hundred and fifty-eight, 
 or in providing a building and vaults. (99 v. 285 Sec. 70.) 
 
 SECTION 9784. No investment in notes secured by 
 mortgage on real estate shall be made by such corporation 
 except upon the approval of the board of directors. (99 
 B.2e5 ec, 71.) 
 
 SECTION 9785. No trust company shall lend any part 
 of its capital or surplus unless such loan be secured by 
 bonds or stocks as collateral in which it is allowed to invest 
 its capital, or by mortgage on real estate, where the amount 
 loaned inclusive of prior incumbrances thereon does not ex- 
 ceed sixty per cent. of the value of the real estate, icluding 
 improvements, which shall be kept adequately insured; nor 
 
 4 B. & B. 
 
 How funds 
 invested. 
 
 Ground rents. 
 
 Limitation on 
 investments. 
 
 . 
 
 Real estate. 
 
 Loans, how 
 secured. 
 
Trust depart- 
 ment. 
 
 Reserve not 
 applicable to 
 trust funds. 
 
 General trust 
 fund. 
 
 Trust depart: 
 
 ment not 
 liable for 
 other debts. 
 
 Board of de- 
 
 posit officers, _ 
 
 Evidence. 
 
 50 
 
 shall such corporation lend to any one person, firm, associa- 
 tion or corporation more than-twenty per cent. of its paid-in 
 capital and surplus. (99 v. 286 Sec. 72.) 
 
 SEcTION 9786. All moneys or property held in trust 
 shall constitute a deposit in the trust department, and the 
 accounts and investments thereof shall be kept separate. 
 Such investments or loans shall be especially appropriated to 
 the security and payment of all such deposits, and not be 
 subject to any other liabilities of the corporation. For the 
 purpose of securing the observance of these requirements, 
 it shall have a trust department in which all business per- 
 taining to such trust property shall be kept distinct from its 
 general business. (99 v. 286 Sec. 73.) 
 
 SECTION 9787. Trust companies shall keep the same 
 reserve as is required of savings banks, but they shall not 
 be required to keep a reserve on trust funds. When the 
 reserve of a trust company falls below the amount required, 
 it shall be governed by the provisions of section ninety-seven 
 hundred and sixty. This section does not apply to money 
 or property held in trust. (99 v. 286 Sec. 75.) 
 
 SECTION 9788. In the management of money and prop- 
 erty held by it as trustee, under the powers conferred in the > 
 foregoing sections, such trust company may invest them in 
 a general trust fund of the corporation, But the authority 
 making the appointment, upon the conferring of it, may 
 direct whether such money and property shall be held sepa- 
 rately or invested in a general trust fund of the corporation ; 
 except that such corporation always shall follow and be gov- 
 erned by all directions contained in any instrument under 
 which it acts. (99 v. 286 Sec. 76.)- 
 
 SECTION 9789. No money, property or securities re- 
 ceived or held by such corporation under this chapter, 
 establishing a trust department, shall be mingled with the 
 investments of the capital stock or other moneys or prop- 
 erty belonging to it, or be liable for its debts or obligations. 
 (99 v. 286 Sec. 76.) 
 
 DEPOSITORY LAWS, 
 
 _ _ SECTION 321. There shall be a board of deposit, con- 
 sisting of the treasurer of state, superintendent of banks 
 and attorney general, which officers shall perform the duties 
 herein prescribed. The treasurer shall be chairman of 
 said board. The cashier of the state treasury shall be the 
 secretary to the board and shall keep its records. A duly 
 certified copy of such records shall be prima facie evidence 
 of the matter appearing therein in any court of record. 
 (1o2°y.' 33 Secnw,) 
 
a ae 
 
 51 : 
 
 SECTION 322. . The necessary expenses of the board 
 of deposit for books, stationery, printing and postage shall 
 be paid from the state treasury from a fund appropriated 
 for that purpose upon the order of the board certified by 
 the chairman and secretary; but such expenses shall not 
 exceed $1,000.00 in any one year. (102 v. 33, Sec. 2.) 
 
 SECTION 323. It shall be the duty of said board to 
 meet on the first Monday in April, 1911, and every two 
 years thereafter, or as often as is necessary at the call of 
 the chairman, after this bill becomes operative, and desig- 
 
 -nate such national banks within the state and banks and 
 
 trust companies doing business within this state, and in- 
 corporated under the laws thereof as the board deems 
 eligible to be made state depositories. (102 v. 33 Sec. 3.) 
 
 SECTION 324. Application of banks and trust com- 
 panies to be made a state depository for the deposit of 
 moneys of the state shall be made in writing and be filed 
 with the chairman of the board of deposit. Such applica- 
 tion shall contain a sworn statement showing the financial 
 condition of the bank or trust company at the date of the 
 application. Such application shall also specify the kind 
 of bond or bonds it will furnish as security. (102 v. 33 
 Sec. 4.) 
 
 SECTION 325. Applications of banks and trust com- 
 panies shall be carefully considered by the board of deposit 
 and its action on each application considered shall be en- 
 dorsed thereon by the words “Approved” or “Rejected” 
 
 -and signed by each member of the board or a majority 
 
 thereof. A bank or trust. company whose application has 
 been considered by the board and approved as herein pro- 
 vided shall be eligible to be a state depository. (102 v. 33 
 pec. S.) 
 
 = 
 
 SECTION 326. Treasurer of state shall not keep at any 
 
 one time more than fifty thousand dollars ($50,000.00) as 
 
 a reserve in the treasury vault, and all other moneys of the 
 state shall be deposited as hereinafter provided. (102 v. 
 
 #33 mec: 6.) 
 
 SECTION 327. There shall be two classes of deposi- 
 tories; one shall be known as active depositories and the 
 other as inactive depositories. The treasurer of state may 
 designate one or more banks or trust companies, or either 
 
 of them located in Columbus, Ohio, eligible under the pro- 
 
 visions of this act as active depositories; money deposited 
 in the inactive depositories shall be used when money in 
 the active depositories shall not be sufficient. (102 v. 33 
 
 pec. 7.) 
 
 SECTION 328. All awards for the deposit of state 
 funds shall be made upon competitive bidding; bids shall 
 be received by the treasurer of state every two years, be- 
 
 Expenses; 
 how paid. 
 
 Meetings; 
 designation 
 of deposi- 
 tories. 
 
 ‘Applications. 
 
 Action of 
 board. 
 
 Reserve in 
 treasury. 
 
 Active and 
 inactive . 
 depositories. 
 
 Competitive 
 bidding. 
 
Bids opened 
 in public. 
 
 Award. 
 
 Duty of 
 treasurer. 
 
 Limitation 
 on deposits. 
 
 Withdrawals. 
 
 Securities 
 specified. 
 
 52 
 
 ginning between one o’clock p, m. on the first Monday in 
 March and closing at one o’clock p. m. on the Third Monday 
 in March, 1911, and every two years thereafter. (102 v. 
 33 sec. &:) 
 
 Section 329. Each bid shall state whether it is for 
 an active or inactive deposit, amount bid for and rate of 
 interest, and must be accompanied by an application and 
 shall be sealed and plainly marked on the outside “BID 
 FOR DEPOSIT.” Beginning at one o’clock p. m. on the 
 third Monday in March of each bidding period the bids 
 shall be opened by the treasurer of state at his office in the 
 presence of the public; all bids shall be preserved and be 
 open to public inspection at all times. (102 v. 33 Sec. 9.) 
 
 SECTION 320-I. ‘Evidence of a combination among 
 bidders shall be deemed just cause for the rejection of any 
 or all bids. (102 v. 33 Sec. 10.) 
 
 SECTION 330. After bids have been opened the treas- 
 urer of state shall on or before the first Monday in April 
 of each bidding period award the state funds to the high- 
 est bidders. The treasurer of state shall deposit the state 
 funds in such banks and trust companies after such applica- 
 tions have been approved by the board of deposit. Should 
 additional state funds become available at any time during 
 the two years or until the next bidding period, it shall 
 be awarded to the highest bidders; first to the banks and 
 trust companies from which deposits have been withdrawn 
 to meet obligations of the state, second to those who failed 
 to receive the full amount of their original award, and 
 then the next highest bidders. (102 v. 33 Sec. II.) 
 
 SECTION 330-1. No bank or trust company shall have 
 on deposit at any one time more than its paid in capital 
 stock and in no event more than three hundred thousand 
 dollars ($300,000.00) as an inactive deposit. (102 v. 33 
 Seaaur2>) 
 
 SECTION 330-2.. The treasurer of state may withdraw 
 any or all of the state funds on deposit for the purpose of 
 paying the appropriations and the obligations of the state; 
 when necessary to withdraw funds from the inactive de- 
 positories it shall be withdrawn from the banks and trust 
 companies paying the lowest rates of interest and in pro- 
 pore amounts as near as practicable. (102 v. 33 Sec. — 
 Ls, 
 
 SECTION 330-3. The treasurer of state before making 
 such deposits shall require that each and every approved — 
 bank or trust company to deposit with him United States 
 government bonds, bonds of this state, county. township, — 
 school district, road district, or municipal bonds of this 
 
 ~ 
 
ee 
 
 ca 
 
 53 
 
 state at not less than their par value, in an amount equal 
 to the amount of money to be deposited with such banks or 
 trust companies, or surety company bonds, which when 
 executed shall be for an amount equal to the amount de- 
 posited plus 5 per cent, conditional for the receipt and 
 safe keeping and payment over to the treasurer of state or 
 his written order of all moneys which may come into the 
 custody of such bank, or trust company under and by 
 virtue of this act, and the interest thereon when paid shall 
 be turned over to the bank or trust company so long as it 
 is not in default. And further, said bonds so given shall 
 include a special obligation to settle with and pay to the 
 treasurer of state for the use of the state interest upon 
 daily balances on said deposit or deposits, at the rate bid 
 for, but not less than 3 per cent. per annum for inactive 
 deposits and 2 per cent per annum for active deposits (on 
 a 305 day basis) payable quarterly on the first Monday of 
 February, May, August and November of each year, or any 
 time when withdrawals are made or the account is closed. 
 (1627.23 Sec. 14, ) 
 
 SECTION 330-4. Said banks and trust companies shall 
 also file with the treasurer of state demand certificates of 
 deposit in an amount equal to the total amount of the de- 
 posit and specify rate of interest to be paid. Said certifi- 
 cates shall be signed by the cashier or a duly authorized 
 officer of said bank or trust company. (102 v. 33 Sec. 15.) 
 
 SECTION 330-5. All surety company bonds and certifi- 
 cates of deposit shall be made out on blank forms furnished 
 by the treasurer of state. Said blank forms shall be ap- 
 proved by the attorney-general. (102 v. 33 Sec. 16.) 
 
 SECTION 330-6. If, on demand or order of the treas- 
 urer of state, a state depository fails or refuses to pay over 
 the deposit, or any part thereof made therein as provided 
 by law, the treasurer of state shall sell at public sale any or 
 all of the bonds deposited with him as collateral security 
 for such deposits. Thirty days’ notice of such sale shall 
 be given in a newspaper published and of general circulation 
 at the seat of government. Surety bonds shall contain a 
 clause obligating said surety company to pay and settle with 
 the state the amount due in full including interest within 
 sixty days after notice is given. (102 v. 33 Sec. 17.) 
 
 _ SECTION 330-7. When a sale of bonds has been made 
 by the treasurer of state, and upon payment to him of the 
 purchase money, the chairman and secretary of the board 
 of deposit shall transfer such bonds whereupon the abso- 
 lute ownership of the bonds shall pass to the purchasers 
 thereof. Any surplus remaining after deducting the amount 
 due the state and expenses of sale shall be paid to the bank 
 or trust company making the deposit. (102 v. 33 Sec. 18.) 
 
 Interest on 
 daily balances. 
 Payable. quar- 
 terly. 
 
 Demand 
 certificates. 
 
 Blank forms. 
 
 Sale of securi- 
 ties; when. 
 
 Notice. 
 
 Transfer of 
 bonds. 
 
 Title. 
 
 Surplus. 
 
Non-liability 
 of treasurer. 
 
 Records and 
 accounts. ~ 
 
 Daily ‘state- 
 ment to audi- 
 tor of state. 
 
 Surety. 
 
 Active and 
 inactive de- 
 positaries. 
 
 Commissioners 
 to designate; 
 when. 
 
 54 
 
 Section 330-8. The treasurer of state shall not be 
 personally liable for moneys lost by reason of the failure or 
 insolvency of a bank or trust company selected as a state 
 depository in accordance with law. (102 v. 33 Sec. 19.) 
 
 SECTION 330-9. The treasurer of state shall keep in 
 his office a record showing an account with each depository, 
 both active and inactive, under which, entry shall be made 
 showing the amounts of each deposit, the date of each, the 
 rate of interest and withdrawals, the date thereof and the 
 balance on deposit. Each such account to show the date 
 and amount of interest received during each paying period. 
 (102 ¥ 33, Sec. 20.) 
 
 SECTION 330-10. The treasurer of state shall make out 
 and transmit daily to the auditor of state a statement of the 
 condition of all moneys in his hands and under his control 
 of each day’s business, and a copy. thereof shall be trans- 
 mitted at the same time to the governor. Such statement 
 required shall show the amount in the inactive account, the 
 amount in the active account, the amount of cash on hand, 
 which shall include the amount in checks, drafts, post- 
 office orders and other evidences of money and also the 
 total of such items. . (102 v. 33 Sec. 21.) 
 
 SECTION 330-11. No person engaged or interested in 
 the banking business as stockholder or otherwise shall be 
 accepted or approved as surety on the bond of the treasurer 
 of state. If said officer gives a surety company bond the 
 annual premium, or premiums accruing thereon after the 
 
 passage of this act shall be paid out of the funds in his © 
 
 hands on the approval of the governor, and there shall be 
 appropriated out of any money in the state treasury to the 
 credit of the general revenue fund not otherwise appro- 
 priated, but the amount shall not exceed eighteen hundred 
 $1,800.00) dollars in any one year. (102 v. 33 Sec. 22.) 
 
 _ SECTION 2715. The commissioners in each county shall 
 designate in the manner hereinafter provided a bank or 
 banks or trust companies, situated in the county and duly 
 incorporated under the laws Of this state, or organized 
 under the laws of the United States, as inactive depositaries, 
 and one or more of such banks or trust companies located 
 in the county seat as active depositaries of the money of the 
 county. In a county where such bank or trust company 
 does not exist or fails to bid as provided herein, or to com- 
 ply with the conditions of this chapter relating to county 
 depositaries, the commissioners shall designate a private 
 bank or banks, located in the county as such inactive de- 
 positaries, and if in such county no such private bank exists 
 or fails to bid as provided herein, or to comply with the 
 conditions of this chapter relating to county depositaries, 
 then the commissioners shall designate any other bank or 
 banks incorporated under the laws of this state, or organized 
 under the laws of the United States, as such inactive deposi- 
 
55 
 
 taries. If there be no such bank or trust company incorpo- 
 rated under the laws of the state, or organized under the 
 laws of the United States, located at the county seat, then 
 the commissioners shall designate a private bank, if there 
 be one located therein, as such active depositary. No bank 
 or trust company shall receive a larger deposit than one 
 million dollars. (102 v. 59.) 
 
 SECTION 2715-1. The deposits in active depositaries, as 
 provided for in the next preceding section shall at all times 
 be subject to draft for the purpose of meeting the current 
 expenses of the county. The deposits in inactive deposi- 
 taries shall remain until such time as the county treasurer is 
 obliged to withdraw a portion or all of the same and place 
 it in the active depositary or depositaries for current use. 
 Each bank or trust company, when submitting proposals as 
 provided in section 2716 for the inactive deposits, shall 
 stipulate the amount of money desired by such bank or trust 
 company; and when the aggregate amount placed with all 
 the banks and trust companies, qualifying for same, in any 
 county, does not equal the amount that may be placed into 
 inactive depositaries the county commissioners shall, upon 
 securing sufficient additional security from any or all of 
 such inactive depositaries authorize the county treasurer 
 to increase the deposits therein; or such county commis- 
 sioners shall in the manner herein provided designate a bank 
 
 or banks or trust companies, located outside of the county 
 
 in which the county treasurer shall deposit such excess 
 funds. (102 v. 59.) 
 
 SECTION 2716. When the commissioners of a county 
 provide such depositary, or depositaries, they shall publish 
 for two consecutive weeks in two newspapers of opposite 
 politics and of general circulation in the county a notice 
 which shall invite sealed proposals from all banks or trust 
 companies within the provisions of the next two preceding 
 sections, which proposals shall stipulate the rate of interest, 
 not less than two per cent’per annum on the average daily 
 balance, on inactive deposits, and not less than one per cent. 
 per annum on the average daily balance on active deposits, 
 that will be paid for the use of the money of the county, 
 as herein provided. Each proposal shall contain the names 
 of the sureties or securities, or both, that will be offered to 
 the county in case the proposal is accepted. (102 v. 60.) 
 
 SECTION 2717, At the hour of twelve o’clock noon on 
 
 _ the Monday next following the last insertion of such notice, 
 
 paca po 
 
 the commissioners in open session shall open the sealed pro- 
 posals and award the use of such money to the bank or 
 banks or trust companies that offer the highest rate of in- 
 terest therefor on the average daily balance, provided proper 
 sureties, securities or both, are tendered in the proposal. 
 
 (98 v. 274 Sec. 3.) 
 
 Limitation. 
 
 Time. to 
 remain. 
 
 Increase de- 
 posits; addi- 
 tional security. 
 
 Publication 
 inviting sealed 
 proposals. 
 
 Rate on 
 deposits. 
 
 Opening of 
 proposals 
 and award. 
 
When funds 
 may: be’, 
 awarded to 
 other bidders. 
 
 Funds, 
 
 may be 
 apportioned 
 among high- 
 est bidders. 
 
 Expenses and 
 risks of de- 
 posits outside 
 county seat. 
 
 Re-advertise- 
 ment; what to 
 contain. 
 
 When award 
 not binding. 
 
 What sureties 
 required. 
 
 50 
 
 Section 2718. If, on account of the large amount of 
 money to be deposited, the highest bidder is not entitled to 
 all the funds of the county, the commissioners, after ac- 
 cording to the highest bidder all to which it is entitled, 
 shall award the balance to the next highest bidder or bid- 
 ders respectively. (98 v. 274 Sec. I.) 
 
 SECTION 2719. If two or more banks offer the same 
 highest rate of interest with proper sureties, securities, or 
 both, the use of the money shall be awarded to either of 
 them, or the commissioners may award a portion of such 
 money to each of such banks or trust companies. (98 v. 
 
 274 SEC 3.) 
 
 SECTION 2720. If the award shall be to a bank or 
 banks or trust companies outside the municipality at which 
 the county seat is fixed,'the expenses and risks of making 
 deposits therein by the county treasurer as hereinafter’ pro- 
 vided, shall be borne by such bank or banks or trust com- 
 panies. (98 v. 274 Sec. 3.) 
 
 SECTION 2721. If no proposals are received offering 
 the rate of interest hereinafter prescribed, the commission- 
 ers shall at once again advertise in the same manner until 
 acceptable proposals are received. Each subsequent ad- 
 vertisement shall also state whether any proposal was re- 
 ceived under the preceding advertisement, and, if any, the 
 bank or banks or trust companies and the rate of interest 
 offered. (98 v. 274 Sec. 3.) 
 
 SECTION 2722. No award shall be binding on the 
 county nor shall money of the county be deposited there- 
 under until the hypothecation of the securities hereinafter 
 provided, or until there is executed by the bank or banks 
 or trust companies so selected and accepted a good and 
 sufficient undertaking, payable to the county, in such sum: 
 as the commissioners direct, but not less than the sum that 
 shall be deposited in such depositary or depositaries at any 
 one time. (99 v. 465- Sec. 4.) 
 
 SECTION 2723. Such undertaking shall be signed by at 
 least six resident free-holders as sureties or by fidelity 
 or indemnity insurance company, authorized to do business 
 within the state and having not less than two hundred and 
 fifty thousand dollars capital, to the satisfaction of the com- 
 missioners, conditioned for the receipt, safe keeping and 
 payment over of all money with interest thereon at the rate 
 specified in the proposal, which may come under its custody 
 under and by virtue of this chapter and under and by virtue 
 of its proposal and the award of the commissioners, and 
 conditioned for the faithful performance by such bank or 
 banks or trust companies of all the duties imposed by law 
 upon the depositary or depositaries of the money of the 
 county. (99 v. 465 Sec. 4.) 
 
 ~ 
 
 — 
 
 | 
 
ore 
 
 SECTION 2724. Such undertaking shall be continuous 
 and remain in full force as to any and all deposits secured 
 by it until surrendered or cancelled by ten days’ written 
 notice to the county commissioners, the county auditor and 
 county treasurer, each separately, given by a surety there- 
 under to withdraw the money of the county in such de- 
 positary. If the money of the county so deposited is paid 
 by such depositary to the county treasurer on his demand 
 within such ten days, or if it furnishes and substitutes new 
 and satisfactory undertaking or securities, as provided 
 herein, such surety shall be released from his obligation, 
 but not before. (99 v. 465 Sec. 4.) 
 
 \ 
 
 SECTION 2725. No surrender or cancellation shall oper- 
 ate to relieve any surety or liability for deposits made be- 
 fore such notice was given, until such deposits are secured 
 to the satisfaction of the county commissioners by resolution 
 spread on their journal or until such deposits are returned 
 to the county treasury. No such surrender or cancellation 
 shall be accepted until satisfactory undertakings in the same 
 amount shall be substituted therefor. (99 v. 465 Sec. 4.) 
 
 SECTION 2726. An undertaking substantially as fol- 
 lows shall be sufficient: ‘We obligate ourselves to the 
 POUGINSOT. Core 25 ficae = , Ohio, for the receipt, safe keeping 
 and re-payment of deposits made or to be made by the 
 Pointy treasurer off: s. hes county, with interest in 
 1 efi 3 ae met Dank to thesamount Of ns ioc e ae 
 dollars and interest and the performance of all duties re- 
 quired by law.” Recovery of such bond shall be in name 
 of the county commissioners for the use of the county. No 
 informalities or failure of the depositary to sign such un- 
 dertaking shall impair it as a statutory undertaking and all 
 other matters may be treated as surplusage. The same 
 surety shall not be accepted on more than one undertaking 
 as to any one depositary at the same time. No fidelity and 
 indemnity insurance company shall be taken on any one 
 bond in excess of twenty per cent. of its paid-up capital 
 and surplus. By securing a deposit, a depositary shall be 
 obligated to return the amount thereof with interest irre- 
 spective of the value of securities or the amount of such 
 undertaking. (99 v. 465 Sec. 4.) 
 
 # SECTION 2727. Such undertaking shall not be accepted 
 by the commissioners until submitted to the prosecuting 
 attorney and certified by him to be in legal form, which 
 certificate shall be endorsed thereon. (98 v. 275 Sec. 5.) 
 
 SECTION 2728. If a bank or trust company to which an 
 award is so made fails to execute an undertaking or to 
 hypothecate bonds, as herein provided, within thirty days 
 of the time the award is made, the commissioners may award 
 the use of the money to any other bank or banks or trust 
 companies whose written proposal offers the same rate of 
 interest, as in the proposal of such defaulting bank or trust 
 
 How under- 
 taking shall 
 be cancelled. 
 
 Effect of sur- 
 render or can- 
 cellation. 
 
 Form and 
 effect of 
 undertaking. 
 
 Approval of 
 undertaking. 
 
 Proceedings 
 
 if bank fails 
 to give bond 
 or hypothecate 
 securities. 
 
When and for 
 
 what term 
 
 bank becomes 
 
 depositary. 
 
 Additional 
 
 security; re- 
 
 moval of 
 deposits. 
 
 Temporary 
 depositary 
 
 shall give se- 
 
 curity and 
 bonds. 
 
 Securities 
 specified. 
 
 58 
 
 company. If no other bank or trust company offers such 
 rate of interest in its proposal, the commissioners may award 
 the use of such money to a bank or banks or trust com- 
 panies whose written proposal offers therefor the next high- 
 est rate of interest. In either case, the undertaking and 
 hypothecation shall be required to be executed. In case 
 of such default, the commissioner shall advertise for others 
 in the manner provided. (98 v. 275 Sec. 5. ) 
 
 SECTION 2729. Upon the acceptance by the commis- 
 sioners of such undertaking, and upon the hypothecation of 
 the bonds as hereinafter provided, such bank or banks or 
 trust companies shall become the depositary or depositaries 
 of the money of the county and remain such for three years 
 or until the undertaking of its successor or successors is ac- 
 cepted by the commissioners. (98 v. 276 Sec. 6.) 
 
 SECTION, 2730. At any time they deem it necessary, 
 the commissioners may require additional securities from 
 the bank or banks or trust companies in such sum as they 
 designate. If for the period of five days: thereafter such 
 bank or banks or trust companies refuse or neglect to give 
 such additional securities, the commissioners may order the 
 removal of the county’s deposits therefrom to the county 
 treasury or designate some other bank or banks or trust 
 companies temporary depositary thereof at the same rate 
 of interest. 
 
 Such removal and other removals ordered by the com- 
 
 missioners under the provisions of this chapter relating to 
 county depositaries, shall be made upon their written order 
 and the check of the county treasurer after thirty days’ 
 notice to such depositary. (98 v. 276 Sec. 6.) 
 
 SECTION 2731. 
 be deposited in a bank designated as a temporary deposi- 
 tary, before the receipt by it of any such money, such bank 
 or trust company shall enter into an undertaking and hy- 
 pothecate the bonds as required herein, If no bank or trust 
 company be so designated, the money shall be kept in the 
 county treasury and the commissioners shall at once create 
 a new depositary under this chapter. (98 v. 276 Sec. 6.) 
 
 SECTION 2732. In place of the undertaking provided 
 for herein, the commissioners may accept as security for 
 money so deposited the following securities: 
 
 _(a)_ Bonds or other interest bearing obligations of the 
 United States or those for the payment of principal and 
 
 interest of which the faith of the United States is pledged, 
 
 including bonds of the District of Columbia; 
 
 (b) Bonds of the state of Ohio; 
 
 (c) Legally issued bonds of any city, village, county, 
 township or other political sub-division of this state and 
 as to which there has heen no default of principal, interest 
 or coupons and which in the opinion of the treasurer are 
 
 If in case of such removal the money ™ 
 
 | 
 ; 
 , 
 | 
 : 
 
~ + 
 
 - ment of the principal and interest of any of its bonds. 
 
 59 
 
 good and collectible, providing the issuing body politic has 
 not defaulted at any time since the year 1880 in the pay- 
 (IOI 
 
 Vv. 353-) 
 
 SECTION 2733. Deposits may be made in the deposi- 
 taries up to ninety per cent of the market value of such 
 securities. The county commissioners may accept such 
 Securities as partial security and require an undertaking for 
 the remainder of the full amount of security required by 
 law, and in such undertaking such acceptance and the extent 
 thereof shall be set forth. (99 v. 466 Sec. 7.) 
 
 SECTION 2734. The hypothecation of such securities 
 shall be the proper legal transfer thereof as collateral which 
 shall stipulate that such securities shall be the property of 
 the county in case of any default on the part of the bank 
 in its capacity as depository, and that the negotiation or 
 release thereof by the commissioners shall require the signa- 
 ture of at least two members of the board of county com- 
 missioners. (106 vy. 186.) 
 
 SECTION 2735. The county commissioners shall make 
 ample provision for the safe keeping of hypothecated se- 
 curities. The interest thereon, when paid, shall be turned 
 over to the bank or trust company so long as it is not in 
 default. The commissioners may make provisions for the 
 exchange and release of securities and the substitution of 
 other securities or of an undertaking thereof. (99 v. 466 
 
 mee s:7":) 
 
 SECTION 2736. Upon the receipt by the county treas- 
 urer of a written notice from the commissioners that a de- 
 positary, or depositaries, have been selected in pursuance 
 of law, and naming the bank or banks or trust companies 
 so selected, such treasurer shall deposit in such bank or 
 banks or trust companies as directed by the commissioners, 
 and designated as inactive depositaries to the credit of the 
 county all money in his possession, except such amount as 
 is necessary to meet current demands, which shall be de- 
 posited by such treasurer in the active depositary or deposi- 
 taries. Thereafter, before noon of each business day, he 
 shall deposit therein the balance, if any, remaining in his 
 hands after having paid out of the receipts of the preceding 
 business day, in cash, warrants presented to him for pay- 
 ment during such day. Except as-herein before provided. 
 Such money shall be payable only on the check of the treas- 
 urer. (103 v. 562.) 
 
 SECTION 2737. All money deposited with any deposi- 
 tary shall bear interest at the rate specified in the proposal 
 on which the award thereof was made, computed on daily 
 balances, and on the first day of each calandar month or 
 
 ‘at any time such account is closed, such interest shall be 
 
 placed to the credit of the county, and the depositary shall 
 
 Security may 
 be in part by 
 undertaking. 
 
 Form of 
 hypotheca- 
 tion; 
 requisites 
 as to trans- 
 fer. 
 
 Interest; 
 exchange of 
 securities. 
 
 Written 
 notice; duty 
 of treasurer. 
 
 Interest on 
 daily balances. 
 
 Apportionment 
 of interest. , 
 
Monthly 
 statement of 
 depositary. 
 
 Monthly 
 statement of 
 auditor and 
 treasurer. 
 
 Comparison 
 of checks and 
 statements. 
 
 When county 
 treasurer 
 exempt from 
 liability. 
 
 60 
 
 notify the auditor and treasurer, each separately, in writing 
 of the amount thereof before noon of the next business day. 
 All such interest realized on the money belonging to the un- 
 divided tax funds shall be apportioned by the county auditor 
 to the state, cities, city school districts and county taxing 
 or assessing districts in the proportion that the amounts 
 collected for the respective political divisions or dis- 
 tricts bear to the entire amount collected by the county 
 treasurer for such undivided tax funds and deposited as 
 herein provided, due allowance being made for sums trans- 
 ferred in advance of settlements. All interest apportionel 
 as the county’s share together with all interest arising from 
 the deposit of funds belonging specifically to the county 
 shall be credited to the general fund of the county by the 
 county treasurer. The county auditor shall inform the 
 treasurer in writing of the amount apportioned by him to 
 each fund, district or account. (101 v. 354.) 
 
 SECTION 2738. On the first business day of each 
 month, each depositary shall notify the county auditor in 
 writing of the amount of deposits made by the county 
 treasurer for the preceding month, giving the amount and 
 date of each deposit and the balance on deposit to the 
 credit of the county at that time. (98 v. 277 Sec. 9.) 
 
 4) SECTION 2739. ‘At such, time the auditor and treasurer 
 
 of the county shall each prepare and submit to the com- 
 
 missioners a sworn statement of the finances of the county 
 for the preceding month, which shall show the amount of 
 money received to the credit of each fund and account, 
 the amount disbursed from each, the balance remaining to 
 the credit of each, the balance of money in the depositary 
 or depositaries, and the balance in the treasury. The com- 
 missioners shall place such statements on file, together with 
 the statement from the depositary, and forthwith post a 
 duly certified copy of each in the office of the county 
 auditor, which shall remain so posted at least thirty days 
 for the inspection of the public. (98 v. 277 Sec. 9.) 
 
 SECTION 2740. On the first business day of each 
 month, an officer of the county depositary or depositaries 
 shall file with the county commissioners all checks of the 
 county treasurer paid and redeemed by it during the previ- 
 ous month. The commissioners shall compare such checks 
 With the report of the county treasurer. and if the state- 
 ments of such depositary and of the treasurer do not agree, 
 the commissioners shall forthwith give notice thereof to 
 the treasurer and auditor, who shall thereupon ascertain 
 and report to the commissioners the cause of such dis- 
 crepancy. (98 v. 277 Sec. 9.) 
 
 SECTION 2741. A county treasurer who shall have 
 fully complied with all the provisions of this chapter re- 
 lating to county depositaries shall not be held personally 
 
 oo on 
 
et ae 
 
 61 
 
 € 
 liable on account of any loss which the county may have 
 sustained by reason of the default or failure of any such 
 
 depositary. (98 v. 277 Sec. 9.) 
 
 SECTION 2742. Nothing in this chapter relating to 
 county depositaries shall in any manner change or affect the 
 liability of treasurers of counties having depositaries under 
 and in accordance with these provisions, except that they 
 shall not be held liable for any loss of money deposited 
 by them in the depositaries as provided herein while such 
 money so deposited is in the custody of such depositary. 
 (99 v. 467. Sec. 10.) 
 
 SECTION 2743. An officer of a county having a county 
 deposit who willfully violates any provision of this chapter 
 relating to county depositaries or willfully neglects or re- 
 fuses to perform any duties thereby imposed upon him 
 shall be fined not more than ten thousand dollars for the 
 use of the county or be imprisoned in the penitentiary not 
 less than one year, nor more than ten years, or both. (99 
 v. 4607 Sec. II.) 
 
 SECTION 2744. A county treasurer may receive checks, 
 but such receipt shall in no. manner be regarded as pay- 
 ment. No sum shall be considered paid until the money 
 therefor has been received by the treasurer or a depositary. 
 No responsibility shall attach in any manner directly or in- 
 directly to a treasurer, his sureties or the county by reason 
 of the receipt of a check and collection of checks shall be 
 entirely at the risk of the person turning them into the 
 treasury. (99 v. 468 Sec. 13.) 
 
 SECTION 2745. Any provision of statute which con- 
 flicts with any provision herein relating to county deposi- 
 taries shall be held to be superseded by the latter as to any 
 inconsistency and not otherwise in counties having a de- 
 positary or depositaries for county funds under these pro- 
 visions. If, for any reason, any such county is without a 
 depositary for such funds, the money of the county shall be 
 placed and remain in custody of the treasurer until another 
 depositary is designated, and he shall be governed by the 
 general laws relating to county treasurers. (99 v. 467 
 Dec, 12: ) 
 
 SECTION 2746. When, in his opinion, necessary, the 
 county treasurer may open not to exceed one office in each 
 township for the receiving of taxes. Such office shall be in 
 a city or village in which is located a bank of deposit. The 
 treasurer, his deputy or clerks, may attend at such office and 
 receive taxes on any day or days prior to the twentieth 
 day of June and the twentieth day of December of each 
 year, They may remove from the county treasury to the 
 place of collection records necessary for the receiving of 
 taxes upon the day or days so fixed for that purpose. (100 
 Vir7G -Sée, 1.) 
 
 Effect of these 
 provisions. 
 
 Penalty. 
 
 Effect of re- 
 céiving bank 
 checks by 
 treasurer. 
 
 What existing 
 law these 
 provisions 
 supersede. 
 
 County treas- 
 urer may 
 open tax- 
 receiving 
 offices. 
 
Banks to fur- 
 nish securi- 
 ties. 
 
 Depository 
 fixed by 
 resolution 
 of trustees. 
 
 Competitive 
 bids. 
 
 Where funds 
 deposited. 
 
 62 
 
 SECTION 2748. For the purpose of transportation, the 
 county treasurer may deposit temporarily in any bank of 
 deposit located at such place of collection any money re- 
 ceived in the payment of taxes, A bank or banks receiv- 
 ing any such deposits shall deposit. with the county treas- 
 urer such securities as the treasurer deems sufficient, sub- 
 ject to the approval of the county commissioners. The lia- 
 bility. of the treasurer for any losses of money so deposited 
 shall be the same as provided in this chapter in case of de- 
 posits by the county treasurer in county depositaries. (100 
 
 Vi07O DEC, ay ; 
 TOWNSHIP FUNDS: 
 
 SECTION 3320. That within thirty days after the first 
 Monday of January, 1916, and every two years thereafter, 
 the trustees of any township shall provide by resolution for 
 the depositing of any or all moneys coming into the hands 
 of the treasurer of the township, and the treasurer shall 
 deposit such money -in such bank, banks or depository 
 within the county in which the township is located as the 
 trustees may direct subject to the following provisions. 
 CIOG: Via Secery) 
 
 SECTION 3321. The trustees of the township shall de- 
 termine in such resolution the method by which bids shall 
 be received, the authority which shall receive them, and 
 time for which such deposits shall be made, and all the 
 details for carrying into effect the authority herein given, 
 but all proceedings in connection with such competitive 
 bidding and the deposit of such moneys shall be conducted 
 in such manner as to insure full publicity and shall be 
 open at all times to public inspection. But no contract for 
 the deposit of township funds shall be made for a longer 
 period than two years. (106 v. 242 Sec. G) 
 
 SECTION 3322. In townships containing two or more 
 banks, such deposits shall be made in the bank or banks 
 situated in the township that offer at competitive bidding 
 the highest rate of interest on the average daily balance on 
 such funds, which in no case shall be less than two per 
 cent., for the full time the funds are on deposit. Such 
 bank or banks shall give a good and sufficient bond to be 
 approved by the township trustees, for the safe custody 
 of such funds in a sum at least equal to the amount de- 
 
 posited. No bank or depository shall receive a larger de- 
 
 posit of such funds than the amount of such bond and in 
 no event to exceed three hundred thousand dollars. The 
 treasurer of the township shall see that a greater sum than 
 that contained in the-bond is not deposited in such bank or 
 banks, and such treasurer and his bondsmen shall be liable 
 
 for any loss occasioned by deposits in excess of such bonds. 
 (i Se Sbesrsra 2 
 
mA Be 
 
 63 
 
 SECTION 3323. In a township in which but one bank 
 is located, and the location thereof is convenient to the 
 township treasurer, the furids of the township shall be de- 
 posited in such bank at a rate of interest not less than two 
 per cent.on the average daily balance, but when the trus- 
 tees have reason to believe that such bank is not a safe de- 
 pository, or when the location thereof is inconvenient to the 
 township treasurer, or when such bank refuses to pay at 
 least two per cent. interest, or where there are two banks 
 in a township and either one or both refuse to pay two 
 per cent. interest on such depusits, or in a township 
 in which no bank is located, after the adoption of a 
 resolution providing for the deposit of its funds, the trus- 
 tees may enter into contract with one or more banks within 
 the county, or in a county adjacent to the county of which 
 the township is a part, that are conveniently located and 
 which offer the highest rate of interest on the average daily 
 balance, and which in no case be less than two per cent. 
 for the full time the funds are on deposit. (R. S. Sec. 
 
 1513.) 
 
 SECTION 3324. Such bank or banks shall give good and 
 sufficient bond to the approval of the township trustees in a 
 sum at least equal to the amount deposited for the safe 
 custody of such funds, and the treasurer of the township 
 shall see that a greater sum than that contained in the bond 
 is not deposited in such bank or banks, and such treasurer 
 and his bondsmen shall be liable for any loss occasioned by 
 deposits in excess of such bonds. (R. S. Sec. 1513.) 
 
 SECTION 3325. Such resolutions and contracts shall 
 set forth fully all details necessary to carry into effect the 
 authority herein given. All proceedings connected with the 
 adoption of the resolution and the making of the-contract 
 shall be conducted in such manner as to insure full publicity 
 and shall be open at all times to public inspection. 
 
 All interest money derived in pursuance of these pro- 
 visions shall be property of the township, and deposited as 
 boner limds.. (Ri S.) Sec: 1573.) 
 
 SECTION 3326. When such depository is provided and 
 the funds are deposited therein as herein directed, the 
 treasurer of the township and his bondsmen shall be re- 
 lieved of any liability occasioned by the failure of the 
 bank or banks of deposit or by the failure of the guaranty 
 company acting as surety for such bank or banks, or by 
 the failure of either of them except as herein provided in 
 cases of excessive deposits. On failure of the trustees 
 of any township to provide a depository according to law 
 the trustees and their bondsmen shall be liable for any loss 
 occasioned by their failure to provide such depository, and 
 in addition shall pay into the township treasury two per 
 cent on the average daily balance on the township funds 
 during the time said township shall be without a depository. 
 
 Minimum 
 interest on 
 township 
 funds. 
 
 Bond to se- 
 cure deposits. 
 
 Proceedings 
 shall be open 
 to the public. 
 
 Liability 
 of treas- 
 urer and 
 trustees. 
 
Deposits of 
 moneys. 
 
 Deposit of 
 
 moneys ma 
 be provide 
 
 for by ordi- 
 nance. 
 
 Security by 
 municipal 
 depository 
 required. 
 
 Interest bear- 
 ing obliga- 
 tions that may 
 be accepted 
 as security. 
 
 Approval. 
 
 Securities 
 accepted to 
 secure funds 
 of all political 
 subdivisions, 
 
 Contents of 
 ordinance; 
 conduct of 
 bidding. 
 
 64 
 
 Said moneys may be recovered from the township trustees ~ 
 
 and their bondsmen for the use and benefit of the town- 
 ship treasury upon the suit of any tax payer of the township. 
 (106 v. 242.) 
 
 MUNICIPAL FUNDS. 
 
 SECTION 4294. Upon giving bond as required by coun- 
 cil, the treasurer may, by and with the consent of his bonds- 
 men deposit all funds and public moneys of which he has 
 charge in such bank or banks, situated within the county, 
 which may ‘seem best for the protection of such funds, and 
 such deposits shall be subject at all times to the warrants 
 and orders of the treasurer required by law to be drawn. 
 All profits arising from such deposit or deposits shall inure 
 to the benefit of the funds. Such deposit shall in no wise 
 release the treasurer from liability for any loss which may 
 occur thereby. (97 v. 270 Sec. 135.) 
 
 SECTION 4295. The council may provide by ordinance 
 for the deposit of all public moneys coming into the hands 
 of the treasurer in such bank or banks, situated within the 
 municipality or county, as offer, at competitive bidding, the 
 highest rate of interest and give a good and sufficient bond 
 issued by a surety company authorized to do business in 
 this state, or furnish good and sufficient surety, or secure 
 said moneys by a deposit of bonds or other interest bearing 
 obligations of the United States or those for the payment 
 of principal and interest of which the faith of the United 
 States is pledged, including bonds of the District of Colum- 
 bia; bonds of the state of Ohio or of any other state of. the 
 United States; legally issued bonds:of any city, village, 
 county, township or other political subdivision of this or any 
 other state or territory of the United States and as to which 
 there has been no default of principal, interest or coupons, 
 and which in the opinion of the treasurer are good and col- 
 lectible providing the issuing body politic has not defaulted 
 at any time since the year 1900, in the payment of the prin- 
 cipal and interest of any of its bonds, said security to be 
 subject to the approval of the proper municipal officers, in 
 a sum not less than ten per cent. in excess of the maximum 
 amount at any time to be deposited. And whenever any 
 of the funds of any of the political subdivisions of the state 
 shall be deposited under any of the depositary laws of the 
 state, the sureties herein mentioned, in addition to such 
 
 other securities as are prescribed by law, may be accepted 
 to secure such deposits. (103 v. EPR 2) “a- 
 
 SECTION 4296. In such ordinance the council may de- 
 termine the method by which such bids shall be received, 
 the authority which shall receive them, and which shall de- 
 
 termine the sufficiency of the security offered, the time for 
 
 the contracts for which deposits of public money may be 
 
 made, and all details for carrying into effect the authority 
 
 ee ye 
 
65 
 
 herein given. Proceedings in connection with such com- 
 ' petitive bidding and the deposit of money shall be conducted 
 in such manner as to insure full publicity, and shall be open 
 at all times to the inspection of any citizen. As to any de- 
 posits made under authority of an ordinance of the coun- 
 cil pursuant hereof, if the treasurer has exercised due 
 care, neither he nor his bondsmen shall be liable for any 
 loss occasioned thereby. (97 v. 270.) 
 
 MUNICIPAL SINKING FUNDS. 
 
 SECTION 4515. At least once every three years the 
 trustees of the sinking fund shall advertise for proposals 
 for the deposit of all sums held in reserve and shall deposit 
 such reserve in the bank or banks, incorporated under the 
 laws of this state or of the United States, situated within 
 the county, which offer, at competitive bidding, the highest 
 rate of intérest and best security and accommodation and 
 give a good and sufficient bond issued by a surety company 
 authorized to do business in this state, or furnish good and 
 sufficient surety in a sum not less than twenty per cent. in 
 excess of the maximum amount at any time to be deposited. 
 There shall not be deposited in any one bank an amount 
 in excess of the paid-in capital stock and surplus of such 
 bank, or to exceed in amount four hundred thousand dol- 
 lars except when such moneys are deposited for the pur- 
 pose of meeting the payment of some obligation. (101 
 
 V. 243.) 
 
 Suan 4516. The trustees of the sinking fund shall 
 determine the method by which such bids shall be re- 
 ceived, the authority which shall receive them, the suffi- 
 ciency of the security offered, the time for the contracts for 
 which the deposits of public money may be made and all 
 details for carrying into effect the authority here given, but 
 proceedings in connection with such competitive bidding 
 and the deposit of money shall be conducted in such man- 
 ner as to insure full publicity and shall be open at all times 
 to the inspection of any citizen. As to deposits made under 
 this authority, neither the trustees of the sinking fund nor 
 their bondsmen, if such trustees of the sinking fund have 
 exercised due care, shall be liable for any loss occasioned 
 thereby. (101 v. 243.) 
 
 SECTION 4516-1. The provisions of sections 4515 and 
 4516 of the general code shall not apply where sums held 
 in reserve, by trustees of the sinking fund, are deposited in 
 the city treasury, so as to become part of the general city 
 balance to be deposited in banks as otherwise provided by 
 law. (102 v. 466.) 
 
 DB ve. Bb: 
 
 Competitive 
 bidding. 
 
 Maximum 
 account. 
 
 Publicity. 
 
 When certain 
 provisions do 
 not apply. 
 
Deposit of 
 school funds; 
 limitation. 
 
 Competitive 
 bidding; 
 bond of de- 
 pository. 
 
 Bids. 
 
 Contract of 
 board and 
 bank. 
 
 66 
 
 SCHOOL FUNDS. 
 
 Section 7604. That within thirty days after the first 
 Monday of January, 1916, and every two years thereafter, 
 the board of education of ‘any school district by resolution 
 shall provide for the deposit of any or all moneys coming 
 into the hands of its treasurer. But no bank shall receive 
 a deposit larger than the amount of its paid in capital stock, 
 and in no event to exceed three hundred thousand dollars. 
 
 (106 v. 328.) 
 
 SEecTIIoN 7605. In school districts containing two or 
 more banks such deposit shall be made in the bank or 
 banks, situated therein, that at competitive bidding offer the 
 highest rate of interest which must be at least two per cent 
 for the full time funds or any part thereof are on deposit. 
 Such bank or banks shall give a good and sufficient bond, 
 or shall deposit bonds of the United States, the state of 
 Ohio, or county, municipal, township or school bonds 1is- 
 sued by the authority of the state of Ohio, at the option of 
 the board of education, in a sum notless than the amount 
 deposited. The treasurer of the school district must see that 
 a greater sum than that contained in the bond is not de- 
 posited in such bank or banks and he and his bondsmen 
 shall be liable for any loss occasioned by deposits in excess 
 of such bond. But no contract for the deposit of school 
 funds shall be made for a longer period than two years. 
 (106 v. 328.) 
 
 SECTION 7606. The board shall determine in such reso- 
 lution the method by which bids shall be received, the au- 
 thority which is to receive them, the time for which such 
 deposits shall be made and all details for carrying into effect 
 the authority herein given. All proceedings in connection 
 with such competitive bidding and deposit of moneys must 
 be so conducted as to insure full publicity and shall be open 
 at all times to public inspection. If in the opinion of a 
 board of education there has been any collusion between the 
 bidders, it may reject any or all bids and arrange for the 
 deposit of funds in a bank or banks without the district 
 as hereinafter provided for in districts not having two or 
 more banks located therein. (R. S. Sec. 3968.) 
 
 SeEcTION 7607. In all school districts containing less 
 than two banks, after the adoption of a resolution provid- 
 ing for the deposit of its funds, the board of education may 
 enter into a contract with one or more banks that are con- 
 veniently located and offer the highest rate of interest, which: 
 shall not be less than two per cent. for the full time the 
 funds or any part thereof are on deposit. Such bank or 
 banks shall give good and sufficient bond, or shall deposit 
 bonds of the United States, the state of Ohio, or county, 
 municipal, township or school bonds issued by the authority 
 
\ 
 
 id 
 
 607 
 
 of the state of Ohio, at the option of the board of educa- 
 tion, in a sum at least equal to the amount deposited. The 
 treasurer of the school district must see that a greater sum 
 than that contained in the bond is not deposited in such 
 bank or banks, and he and his bondsmen shall be liable 
 for any loss occasioned by deposits in excess of such bond. 
 (10L v. 290.) 
 
 SECTION 7608. The resolution and contract in the next 
 four preceding sections provided for, shall set forth fully 
 all details necessary to carry into effect the authority therein 
 given. -All proceedings connected with the adoption of such 
 resolution and the making of such contract must be con- 
 ducted in such a manner as to insure full publicity and shall 
 be open at all times to public inspection. (R. S. Sec. 3968.) 
 
 SEcTION 7609. When a depository is lawfully provided, 
 and the funds are deposited therein, the treasurer of the 
 school district and his bondsmen shall be relieved from any 
 liability occasioned by the failure of the bank or banks of 
 
 Maximum 
 deposit. 
 
 What reso- 
 lution to 
 contain, 
 
 Board of 
 education 
 liable, 
 when. 
 
 deposit or by the failure of the sureties therefor, or by the | 
 
 failure of either of them, except as above provided in cases 
 of excessive deposits. Upon the failure of the board of 
 education of any school district to provide a depository ac- 
 cording to law the members of the board of education shall 
 be liable for any loss occasioned by their failure to provide 
 such depository, and in addition shall pay to the treasurer of 
 the school funds two per cent on the average daily balance 
 on the school funds during the time said school district shall 
 be without a depository. Said moneys may be recovered 
 from the members of the board of education for the use 
 
 and benefit of the schooi funds of the district upon the suit 
 
 of any taxpayer of the school district. (106 v. 328.) 
 
 TAXATION OF BANK STOCK. 
 
 Const. “Art. X11; Sec: 3: 
 
 The general assembly shall provide by law, for taxing the 
 notes and bills discounted or purchased, moneys loaned, and all 
 other property, effects, or dues, of every description, (without de- 
 duction) of all banks, now existing, or hereafter created, and of 
 all bankers, so that all property employed in banking, shall always 
 bear a burden of taxation, equal to that imposed on the property 
 of individuals. 
 
 SECTION 5407. A company, association, or person, not 
 incorporated under a law of this state or of the United 
 States, for banking purposes, who keeps an office or other 
 place of business, and engages in the business of lending 
 money, receiving money on deposit, buying and selling 
 bullion, bills of exchange, notes, bonds, stocks, or other 
 evidences of indebtedness, with a view to profit, is a bank, 
 or banker, within the meaning of this chapter. (R. S. Sec. 
 
 2758. ) 
 
 “Bank” and 
 “bankers” 
 defined. 
 
Shares or 
 capital of 
 banks, incor- 
 porated or un- 
 incorporated. 
 
 Tax on real 
 estate of 
 bank. 
 
 Names of 
 stockholders 
 and shares of 
 each. 
 
 Return made 
 by cashier, 
 etc., to 
 auditor. 
 
 Auditor te fix 
 value of bank 
 shares or 
 property. 
 
 68 
 
 Section 5408. All the shares of the stockholders in 
 an incorporated bank or banking association, located in this 
 state, incorporated or organized under the laws of the state 
 or of the United States, and all the shares of the stock- 
 holders in an unincorporated bank, located in this state, the 
 capital stock of which is divided into shares held by the 
 owners of such bank, and the capital employed, or the 
 property representing it, in an unincorporated bank the 
 capital stock of which is not divided into shares, located in 
 this state, shall be listed at the true value in money, and 
 taxed only in the city, ward, or village where such bank is 
 located: . (RWS. Sec, 2762.) 0: 
 
 SecTION 5409. The real estate of a bank or banking 
 association shall be taxed in the place where it is located, in 
 like manner as the real estate of persons is taxed. (R. S. 
 
 DECT2 703.) 
 
 Section 5410. There shall be kept in the office at all 
 times where the business of such bank or banking associa- 
 tion is transacted, a full and correct list of the names and 
 residences of the stockholders therein, and the number of 
 shares held by each, which at all times during business 
 hours shall be open to the inspection of all officers who are 
 or may be authorized to list or assess the value of such 
 shares for taxation. (R.S. Sec. 2764.) 
 
 SECTION 5411. The.cashier of each incorporated bank, 
 and the cashier, manager or owner of each unincorporated 
 bank, shall return to the auditor of the county in which 
 such bank is located, between the first and second Mondays 
 of May, annually, a report in duplicate under oath, exhibit- 
 ing in detail, and under appropriate heads, the resources and 
 liabilities of such bank at the close of business on the Wed- 
 nesday next preceding the said second Monday, with a full 
 statement of the names and residences of the stockholders 
 therein, the number of shares held by each and the par value 
 of each share, and of the amount of capital employed by un- 
 incorporated banks, not divided into shares, and the name, 
 residence and proportional interest of each owner of such 
 bank. (R.S. Sec. 2765.) 
 
 SECTION 5412. Upon receiving such report the county 
 auditor shall fix the total value of the shares of such banks, 
 and the value of the property representing the capital 
 employed by unincorporated banks, the capital stock 
 of which is not divided into shares, each according to their 
 true value in money, and deduct from the aggregate sum so 
 found, of each, the value of the real estate included in the 
 statement of resources as it stands on the duplicate. There- 
 upon he shall make and transmit to the annual state board 
 of equalization for banks a copy of the report so made by 
 the cashier, manager or owner with the valuation of such 
 shares or property representing capital employed as so fixed 
 by the auditor, R.S. Sec. 2766.) 
 
 eo ee 
 
 | 
 ’ 
 
: 69 
 
 SECTION 5413. Ifa bank fails to make and furnish to when hank 
 the county auditor the statement required, within the time fails to make 
 herein fixed, the auditor shall examine the books of the ; 
 bank ; and also any officer or agent thereof under oath, with 
 such other persons as he deems proper, and make such 
 statement. The auditor shall have like powers, and the pro- 
 bate judge of the county shall exercise like powers, and 
 perform like duties in aid of the auditor in the perform- 
 ance of his duties under this section, as are authorized by law 
 in cases where the county auditor is informed, or has 
 reason to believe, that any person has failed to make a re- 
 turn, or has made a false return for taxation. The state- 
 ment so made out by the auditor shall stand as the state- 
 ment required to be made by the cashier. (R. S. Sec. 
 
 2760. ) 
 
 SECTION 5414. A bank officer who fails to make out Penalty for 
 and furnish to the county auditor the return required by ™king false 
 section fifty-four hundred and eleven or wilfully makes a 
 false statement in such return, shall forfeit not more than 
 one hundred dollars together with the costs and other ex- 
 penses incurred by the auditor or other proper officer in 
 
 obtaining such statement. (R. S. Sec. 2769.) 
 
 SECTION 5624-13. * * * Nothing in this act shall Accounts and 
 be construed or held to authorize the tax commission, or pecorge Of a 
 any of its agents or employes, or any county auditor or reerea kta 
 any assessor or board of revision, to examine the accounts tion by taxing 
 or records of any banking or financial institution which *"°"™S 
 is subject to official inspection under the laws of the state 
 of Ohio or of the United States, nor to demand or receive 
 any list of depositors, stock depositors, members or others 
 who transact business in or with such institutions. (106 
 
 v. 264 Sec. 66.) 5 
 
 SECTION 5617. On or before the first day of June, an- Report of 
 nually, each county auditor shall make and transmit to the c@shic or 
 _ tax commission of Ohio, a copy of the report made by the 
 cashier, manager or owner of each bank, with the valuation 
 of the shares or property of the bank, representing capital 
 employed, as fixed by him, (106 v. 269 Sec. 85.) 
 
 SECTION 5618. On the third Tuesday of June of each Examination 
 year, the tax commission of Ohio shall examine the reports of, bank re 
 of banks and banking associations made to the county au- 
 ditors and the value of the shares of incorporated banks and 
 the shares of unincorporated banks, the capital stock of 
 which is divided into shares, each of which shares is an 
 aliquot part of the capital so divided, and of the property 
 representing the capital employed by unincorporated banks, 
 the capital stock of which is not divided into shares, as fixed 
 by the county auditors and reported to the commission, 
 
 (106 v. 269 Sec. 86.) 
 
Power to 
 increase or 
 decrease 
 value of 
 shares. 
 
 Certificate 
 
 of valuations 
 to county 
 auditors. 
 
 Review; 
 corrections, 
 
 Tax a lien 
 upon bank’s 
 shares. 
 
 Collection 
 by tax. 
 
 Penalty. 
 
 Banks may 
 deduct taxes 
 paid from 
 shareholders 
 when. 
 
 7O 
 
 Section 5619. The tax commission of Ohio may in- 
 crease or decrease the value of the shares or property rep- 
 resenting capital employed by any bank or banks, if in the 
 judgment of the commission the value thereof so reported 
 to the commission by the county auditor is not the true value 
 
 -in money, to the end that all such shares and property rep- 
 
 resenting capital employed shall be assessed equally and 
 uniformly throughout the state at the true value thereof in 
 
 money. (106 v. 269 Sec. 87.) 
 
 SECTION 5620. On the third Tuesday of July, annually, 
 
 ‘the tax commission of Ohio shall certify to the county au- 
 
 ditors of the proper counties, the valuation as fixed by it of 
 the shares of, and property representing capital employed 
 by banks situated in such counties, specifying as to each bank 
 the aggregate valuation of the shares thereof or property 
 representing capital employed thereby and the deductions to 
 be made therefrom. The county auditor shall make the 
 deductions as so certified, and the value of the shares of 
 each incorporated bank or banking association, and the 
 shares of each unincorporated bank the capital stock of 
 which is divided into shares, each of which shares is an 
 aliquot part of the capital so divided, and the property rep- 
 resenting the capital employed by unincorporated banks, the 
 capital stock of which is not divided into shares, shall, after 
 such deductions are made, be entered upon the proper tax 
 lists and duplicate. (106 v. 269 Sec. 88.) 
 
 SECTION 5621. Between the third Tuesday of June and_ 
 the third Tuesday of July, the tax commission of Ohio may, 
 on the application of any interested person or bank, or on 
 its own motion, review and correct its findings. (106 v. 
 269 Sec. &9.) 
 
 SECTION 5672. ‘Taxes assessed on shares of stock, or 
 the value thereof, of a bank or banking association, shall be 
 a lien on such shares from the first Monday of May in each 
 year until they are paid. It shall be the duty of every bank 
 or banking: association to collect the taxes due upon its 
 shares of stock from the several owners of such shares, and 
 to pay the same to the treasurer of the county, in which 
 such bank or banking association is located, as other taxes 
 are paid, and any bank or banking association failing to pay 
 the said taxes as herein provided, shall be liable by way of 
 penalty for the gross amount of the taxes due from all the 
 owners of the shares of stock, and for an additional amount 
 of one hundred dollars for every day of delay in the pay- 
 ment of said taxes. (102 y. 91.) 
 
 _ SECTION 5673. Such bank or banking association pay- 
 ing to the treasurer of the county in which it is located, the 
 taxes assessed upon its shares, in the hands of its share- 
 holders, respectively, as provided in the next preceding sec- 
 tion may deduct the amount thereof from dividends that 
 are due or thereafter become due on such shares, and shall 
 
71 
 
 have a lien upon the shares of stock and on all funds in its 
 possession belonging to such shareholders, or which may at 
 any time come into its possession, for reimbursement of the 
 taxes so paid on account of the several shareholders, with 
 legal interest; and such lien may be enforced in any ap- 
 propriate manner, (102 v. QI.) 
 
 Peri send CES APPLICABLE-TO. BANKS AND 
 BANKING. 
 
 SECTION 12473. Whoever, being an officer, employe, 
 agent or director of a corporation incorporated and doing 
 business as a commercial bank, savings bank, savings so- 
 ciety, society for savings, savings and loan association, sav- 
 ings and trust company, safe deposit company or trust 
 company or other corporation or association, except build- 
 “ing and loan associations, having power to receive and re- 
 ceiving money on deposit, embezzles, abstracts or wilfully 
 ' misapplies any of the money, funds, credit or property of 
 such corporation, whether owned by it or held in trust, shall 
 be fined not more than ten thousand dollars or imprisoned 
 in the penitentiary not more than thirty years, or both. (99 
 2275, OCC, 44. ) 
 
 SECTION 12898. Whoever, being the superintendent of 
 banks, a deputy assistant, clerk in his employ or an ex- 
 aminer, fails to keep secret the facts and information ob- 
 tained in the course of an examination, except when the 
 public duty of such officer requires him to report upon or 
 take official action regarding the affairs of the person, part- 
 nership, corporation, company, society or association so ex- 
 amined, or wilfully makes a false official report as to the 
 condition of such person, partnership, corporation, com- 
 pany, society or association, shall be fined not more than five 
 hundred dollars or imprisoned in the penitentiary not less 
 than one year nor more than five years, or both. Nothing 
 in this section shall prevent the proper exchange of certain 
 valuable information relating to banks and the business 
 thereof, with the representatives of the banking departments 
 of other states, with the national bank authorities, or with 
 clearing house association examiners. (106 v. 360.) 
 
 SECTION 12899. An official, violating any provision of 
 the next preceding section, in addition to the penalties 
 therein provided shall be removed from office and be liable, 
 with his bondsmen, in damages to the person or corpora- 
 tion injured by the disclosure of such secrets. (99 v. 291 
 Sec. 106.) 
 
 SECTION 13182. Whoever, being connected with or 
 serving a commercial bank, savings bank, safety deposit 
 company, trust company, or a combination of two or more 
 of such classes of business, receives, or, being an officer 
 thereof, permits an employe to receive money, checks, drafts 
 
 Embezzling or 
 misapplying 
 bank funds. 
 
 Failure to 
 keep secrets 
 by bank super- 
 intendent, 
 examiner or 
 employe; 
 penalty. 
 
 Further 
 penalty. 
 
 Receiving 
 money when 
 bank in- 
 solvent. 
 
Unlawfully 
 issuing certifi- 
 cate of de- 
 posit, etc. 
 
 Fictitiously 
 borrowing, 
 etc., money. 
 
 Failing to 
 charge cer- 
 tified checks. 
 
 Certifying 
 check when 
 not sufficient 
 fund. 
 
 72 
 
 or other property as a deposit therein when he has knowl- 
 edge that it is insolvent, shall be fined not more than five 
 thousand dollars or imprisoned in the penitentiary not more 
 than five years, or both. (99 v. 293 Sec. 116.) 
 
 SECTION 13183. Whoever, being an officer, employe, 
 agent or director of a corporation incorporated and doing 
 business as a commercial bank, savings bank, savings so- 
 ciety, society for savings, savings and loan association, 
 savings and trust company, safe deposit or trust company 
 or other corporation or association, except building and 
 loan association, having power to receive and receiving 
 money on deposit, wilfully and fraudulently issues or puts 
 forth a certificate of deposit, draws an order or bill of ex- 
 change, makes an acceptance, assigns a note, bond, draft, 
 bill of exchange, mortgage, judgment or decree or makes 
 a false entry in a book, report or statement of such cor- 
 poration, shall be fined not-more than ten thousand dollars 
 or imprisoned in the penitentiary not more than thirty 
 years, or both. (99 v. 278 Sec. 44.) 
 
 SECTION 13184. Whoever, being an officer, employe, 
 agent or director of such corporation as provided in the 
 next preceding section, fictitiously borrows or solicits, ob- 
 tains or receives money for the corporation not in good 
 faith intended to be and not the property of the corpora- 
 tion, with intent to defraud or injure the corporation or 
 another corporation or person or to deceive an officer of 
 the corporation, or agent appointed to examine the affairs 
 of the corporation, or publishes a false statement or report 
 relating to the financial condition of the corporation with 
 intent to defraud or injure it or another corporation or 
 person, shall be fined not more than ten thousand dollars 
 or imprisoned in the penitentiary not more than thirty years, 
 or both. (99 v. 278 Sec. 44.) 
 
 SECTION 13185. Whover, being an officer or employe 
 of a corporation conducting a commercial bank, savings 
 bank, safe deposit company, trust company or two or more 
 of such classes of business in accordance with the laws of 
 this state, wilfully certifies a check drawn on such corpora- 
 tion and fails forthwith to charge the amount thereof 
 against the account of the person, firm or corporation draw- 
 ing it, shall be fined not more than five thousand dollars or 
 Imprisoned in the penitentiary not less than one year nor 
 more than five years, or both. (99 v. 275 Secs. 31, 33.) 
 
 SECTION 13186. Whoever, being an officer or employe 
 of such corporation as provided jin the next preceding sec- 
 tion, wilfully certifies a check drawn upon the corporation 
 unless the person, firm or corporation drawing it has on 
 deposit with the corporation an amount of money subject 
 to the payment of such check and equal to the amount 
 specified therein, shall be fined not more than five thousand 
 dollars or imprisoned not less than one year nor more than 
 
73 
 
 ‘five years, or both. A check so certified by an authorized 
 officer thereof shall be a good and valid obligation against 
 the corporation. (99 v. 275 Secs. 32, 33.) 
 
 SECTION 13187. Whoever, being an officer or employe 
 of such corporation as provided in, section thirteen thou- 
 sand one hundred and eighty-five, resorts to a device, re- 
 ceives a fictitious obligation in order to evade the provisions 
 of this section and the next two preceding sections, or cer- 
 tifies a check before the amount thereof has been regularly 
 entered to the credit of the drawer thereof upon the books 
 of such corporation, shall be fined not more than five thou- 
 sand dollars or imprisoned not less than one year nor more 
 than five years, or both. (99 v. 275 Sec. 33.) 
 
 SECTION 13383-1. Whoever, directly or indirectly, wil- 
 fully and knowingly makes or transmits to another, or cir- 
 culates, or counsels, aids, procures or induces another to 
 make, transmit or circulate, any false or untrue statement, 
 rumor or suggestion derogatory to the financial condition, 
 solvency or financial standing of any bank, savings bank, 
 banking: association, building and loan association or trust 
 company, doing business in this state or with intent to de- 
 press the value of the stocks, bonds or securities of any 
 corporation, directly or indirectly, wilfully and knowingly 
 makes or transmits to another, circulates, or counsels, aids, 
 procures or induces another to make, transmit or circulate, 
 any false or untrue statement, rumor or suggestion deroga- 
 tory to the financial condition, or with respect to the earn- 
 ings or management of the business of any corporation, or 
 resorts to any fraudulent means with intent to depress in 
 value the stocks, bonds or securities of any corporation 
 shall be fined not more than one thousand dollars or im- 
 prisoned in the penitentiary not more than two years, or 
 both. (103 v. 469.) 
 
 SECTION 13193-1. Any person who, with intent to de- 
 fraud, shall make or draw or utter or deliver any check, 
 draft or order for the payment of money upon any bank 
 or other depositary, who never had any funds or credit with 
 such bank or depositary, shall be guilty of a felony, and 
 upon conviction thereof shall be fined not less than fifty dol- 
 lars and not more than two hundred dollars, or imprisoned 
 in the Ohio state penitentiary for not less than one year 
 nor more than three years or both. The word “credit” as 
 used herein shall be construed to mean any contract or 
 agreement with the bank or depositary for the payment of 
 such check, draft or order, when presented. (106 v. 443.) 
 
 BANKS TO FURNISH CERTAIN INFORMATION 
 TO SUPERINTENDENT OF INSURANCE. 
 
 Section 627-1. ‘The superintendent of insurance is 
 authorized and empowered to make written requisitions 
 upon the officers or directors of any national bank, state 
 bank, state bank and trust companies or private bank, of this 
 
 Resorting to 
 unlawful 
 device. 
 
 False state- 
 ment; penalty 
 for. 
 
 Penalty for 
 giving with 
 intent to de- 
 fraud, check, 
 draft or order. 
 
 Authority 
 and power of 
 superintend- 
 ent of in- 
 surance. 
 
Duty of 
 bank officers. 
 
 Penalty. 
 
 Investment in 
 one stock or 
 loan limited. 
 
 Deposits made 
 in name of 
 two persons 
 payable to 
 either. 
 
 Who may 
 sign papers. 
 
 Investigation; 
 report to 
 court., 
 
 74 
 
 state, for such information as he may require relating to the” 
 
 financial transactions of any of such institutions with any 
 insurance company, fraternal beneficiary association or as- 
 sessment association authorized to do business in this state. 
 (101 v. 102.) 
 
 SEcTION 627-2. It shall be the duty of any officer 
 or director of any such bank or trust company upon the 
 receipt of such requisition, or within five days thereafter, to 
 
 furnish to such superintendent in writing all the informa- | 
 
 tion called for in such requisition and in such manner and 
 form as therein directed. (101 v. 102.) 
 
 SECTION 627-3. Any officer or director of any such 
 bank or trust company who fails, neglects or refuses to 
 comply with the provisions of section two of this act shall 
 be guilty of a misdemeanor and on conviction shall be fined 
 not more than $500.00 nor less than $25.00. (IOI v. 102.) 
 
 GENERAL PROVISIONS. 
 
 SECTION 9790. Not more than twenty per cent. of the 
 capital and surplus of a corporation doing business under 
 this chapter shall be invested in any one stock security or 
 loan unless it be in bonds or other interest bearing obliga- 
 tions enumerated in paragraphs b, c and d of section ninety- 
 seven hundred and fifty-eight, or in a building and vaults. 
 (99 v. 283 Sec. 64.) 
 
 SECTION 9790-1. When a deposit has been made, or 
 shall hereafter be made, in any bank, savings bank, bank- 
 ing association or trust company transacting business in 
 this state in the names of two persons, payable to either, or 
 payable to either or the survivor, such deposit, or any part 
 thereof, or any interest or dividend thereon, may be paid 
 to either of said persons whether the other be living or 
 not; and the receipt or acquittance of the person so paid 
 
 shall be a valid and sufficient release and discharge to the 
 
 bank for any payment so made. (101 v. 120.) 
 
 SECTION 9791. In proceedings connected with any au- 
 thority exercised under this chapter, or under the chapter 
 relating to the superintendent of banks, all accounts and 
 other papers may be signed and sworn to in behalf of such 
 corporation by any officer thereof duly authorized by it. 
 The answers and examinations under oath, of such officer, 
 shall be received as the answers and examinations of the 
 corporation. A court may order and compel any officers of 
 such corporation to answer and attend such examination the 
 same as if they, instead of the corporation were parties to 
 the proceedings or inquiry. (99 v. 286 Sec. 74.) 
 
 SECTION 9792. Any judge of a court in which such 
 corporation 1s acting in such trust capacity, if he deems it 
 necessary, or upon the written application of any party in- 
 
he 
 
 terested in the estate which it holds in a trust capacity, 
 at any time, may appoint a suitable person or persons, who 
 shall investigate the affairs and mangement of such corpo- 
 ration concerning such trust and make sworn report to the 
 court of such investigation. The expense thereof shall be 
 taxed as costs against the party asking for such examina- 
 tion, or the trust fund of such corporation as the court 
 decrees. Such court at any time may examine any officers 
 of such corporation, under oath or affirmation, as to its trust 
 matters in the court, or as to its finances and management 
 while considering its appointment in such capacity; and for 
 any cause, applicable to natural persons in the same ca- 
 pacity, order that such corporation forthwith settle its trust. 
 
 “(99 v. 287 Sec. 77.) 
 
 SECTION 9793. Every banking company, savings bank, 
 savings and loan association, savings and trust company 
 safe deposit and trust company, society for savings, savings 
 society, and every other corporation or association, except 
 building and loan associations, empowered to receive, and 
 receiving money on deposit, now existing and chartered or 
 incorporated, or which hereafter become incorporated shall 
 be subject to the provisions of this chapter except that no 
 such corporation or association having a less capital stock 
 than the minimum amount provided in section ninety-seven 
 hundred and four shall be required to increase its capital 
 stock in order to conform to the provisions of such section 
 
 (99 v.,288 Sec. gt.) 
 
 SECTION 9794. No such association or corporation may 
 avail itself of any of the privileges or powers conferred by 
 this chapter until it has complied with the provisions of 
 sections 9741 and 9742. No corporation or association, shall 
 be required to comply with the provisions of this chapter 
 before April 1, 1910, but every such corporation and asso- 
 ciation, shall be subject to the inspection, examination and 
 supervision of the superintendent of banks, as provided 
 
 by law. (99 v. 288 Sec. 91.) 
 
 SECTION 9795. The books and records, except books 
 and records of deposit and trusts, of every corporation, 
 society or association operating under this chapter, at all 
 reasonable times shall be open to the inspection of every 
 stockholder. (99 v. 288 Sec. gr.) 
 
 Section 9796. No bank or banking institution in- 
 corporated under the laws of any other state, shall be per- 
 mitted to receive deposits, or transact banking business of 
 
 any kind in this state, except to lend money. (99 v. 287° 
 
 Sec. 80.) 
 
 SECTION 9796-1. Wherever the term “state bank” is 
 used in this act, the said term shall be held to include every 
 corporation or association having the power to receive, and 
 receiving money on deposit, chartered or incorporated under 
 any general or special law of Ohio, but shall not include 
 
 ~ 
 
 Corporations 
 governed 
 
 » this chapter. 
 
 Privileges 
 available, 
 when. 
 
 Records to be 
 open to stock- 
 holders. 
 
 Foreign banks 
 to lend money 
 only. 
 
 Terms “state 
 bank” and 
 “federal re- 
 serve act”’ 
 
 defined. 
 
State bank 
 may become 
 a member bank 
 under federal 
 reserve act; 
 rights, pow- 
 ers and 
 privileges. 
 
 State or 
 national banks 
 May act as 
 administrator, 
 executor, etc., 
 when. 
 
 Exceptions to 
 this chapter. 
 
 Banks may 
 borrow money, 
 to what 
 extent. 
 
 76 
 
 building and loan associations; and wherever the term 
 “Federal Reserve Act” is used in this act the same shall be 
 held to mean the act of the 63rd Congress of the United 
 States, entitled ‘““An Act to provide for the establishment of 
 Federal reserve banks, to furnish an elastic currency, to 
 afford means of rediscounting commercial paper, to establish 
 a more effective supervision of banking in the United States, 
 and for other purposes,’ approved by the President of the 
 United States on December 23rd, 1913. (104 v. 1885 Sec. 
 
 I.) 
 
 SECTION 9796-2. Every state bank, in addition to the- 
 
 powers, rights and privileges possessed by it under the laws 
 of Ohio shall have the right and power to become a member 
 bank under the Federal Reserve Act upon the terms and 
 conditions set forth in said Federal Reserve Act, or here- 
 after provided by law, in order to become a member bank 
 as contemplated by said Federal Reserve Act. Every state 
 bank which becomes a member bank shall have the right 
 and power to do everything required of or granted by said 
 Federal Reserve Act to member banks which are organized 
 under state laws; and compliance by state banks with the 
 reserve requirements of said Federal Reserve Act, shall be 
 accepted in lieu of the reserve requirements provided by the 
 laws of Ohio. Nothing contained in this section of this 
 act shall in any way or manner affect or have reference 
 to state banks which do not become member banks under 
 said Federal Reserve Act except as provided in this act. 
 (104 v.. 185 Sec. 2.) 
 
 SECTION 9796-3. No state bank or national bank shall 
 act as administrator, executor, trustee or registrar of stocks 
 and bonds in this state. Provided, however, that trust com- 
 panies organized under the laws of Ohio shall have the same 
 powers in the acceptance and execution of trusts which are 
 now conferred upon them by law, and other state banks and 
 national banks may have the same powers in the acceptance 
 and execution of trusts which are now conferred by law 
 upon trust companies, upon such state banks and national 
 banks complying with all the requirements, regulations and 
 conditions imposed by the laws of Ohio upon trust com- 
 panies in the matter of the acceptance and execution of 
 trusts. (104 v. 185 Sec. 3.) 
 
 SECTION 9797. Nothing in this chapter shall apply to 
 
 a building and loan associations. (99 v. 294 Sec. 
 118, 
 
 SEcTION 8705. A corporation may borrow money in 
 any sum not exceeding the amount of its capital stock, 
 issue its notes or coupons or registered bonds therefor, 
 bearing any legal rate of interest, and secure their pay- 
 ment by a mortgage of its property, real or personal, or 
 both; provided, however, that a corporation formed to buy 
 
 and sell real estate may borrow money, issue its notes or 
 
77 
 
 bonds secured by mortgage of its real estate in an amount 
 not to exceed sixty-five per cent of the market value thereof 
 without regard to the amount of its capital stock. (106 v. 
 
 553 sec. I.) 
 
 SECTION 5978. Every Saturday afternoon of each year 
 shall be a one-half legal holiday for all purposes, beginning 
 at twelve o’clock noon and ending at twelve o’clock mid- 
 night. Nothing however, in this section or any other, or 
 any decision of any court, shall in any manner affect the 
 validity of or render void or voidable any check, bill of ex- 
 change, order, promissory note, due bill, mortgage or other 
 writing obligatory made, signed, negotiated, transferred, as- 
 signed or paid by any person, persons, corporation ‘or bank 
 upon said half holiday, or any other transaction had thereon. 
 
 (TG3" F< S002 Ser 1) 
 
 SECTION 2288-1. In addition to the undertakings or 
 security provided for in section 2732, 4295, 7605 and 7607, 
 it shall be lawful to accept first mortgages, or bonds se- 
 cured by first mortgages bearing interest not to exceed ? 
 Six per cent. per annum, upon unincumbered real estate 
 located in Ohio, the value of which is at least double the 
 amount loaned thereon. If the amount loaned exceeds 
 one-half the value of the land mortgaged, exclusive of the 
 structures thereon, such structures must be insured in an 
 authorized fire insurance company, or companies, in an 
 amount not le$s than the difference between one-half the 
 value of ‘the land exclusive of structures, and the amount 
 loaned, and the policy or policies shall be assigned to the 
 mortgagee. The value of such real estate, shall be deter- 
 mined by valuation made under oath by two resident free- 
 holders of the county where the real estate is located, who 
 are conversant with real estate values. There shall be de- 
 posited with said mortgage, an abstract of title made by 
 some competent person or persons or company, accompanied 
 by the opinion of a competent attorney, which opinion shall 
 certify that the mortgage is a first lien upon the premises 
 mortgaged, or said title shall be guaranteed by a company 
 organized under, and’ which has complied with the pro- 
 visions of section 9850 of the General Code. (106 v. 434.) 
 
 SAVINGS AND LOAN -ASSOCIATIONS. 
 
 Section 9798. The board of directors of any savings 
 and loan association may prescribe the terms on which de- 
 posits shall be received and paid out, and the mode of trans- 
 acting, managing and conducting the affairs and business of 
 the corporation. ‘The rules and regulations relating to the 
 receipt and payment of deposits, and the interest thereon, 
 shall be written or printed in the pass-book of depositors, 
 not be altered so as to affect any deposit previously made, 
 and shall be obligatory on such depositors. (R. S. Sec. 
 
 3799. ) 
 
 Saturday 
 afternoon 
 legal 
 holiday. 
 
 Mortgage 
 
 loans se- 
 
 eri for 
 bed of 
 lic money. 
 
 Rules and regu- 
 lations relating 
 to deposits. 
 
Board of 
 officers. 
 
 Deposits by 
 minors. 
 
 Officers shall 
 not borrow 
 
 from corpora- 
 
 tion. 
 
 May acquire 
 real estate. 
 
 Interest may 
 be paid on 
 deposits. 
 
 Distribution 
 of increased 
 stock. 
 
 78 
 
 SECTION 9799. The officers of such corporation, other 
 than directors, before entering upon the discharge of their 
 duties, shall give a bond to the corporation, to the amount 
 required by the directors, with security to be approved by 
 them, for their fidelity, good conduct, for the safe-keeping 
 and proper application of the funds of the association, and 
 of such sums of money as may be placed in their charge by 
 the depositors or others. The directors may require an in- 
 crease of the amount of such bonds when they deem it neces- 
 sary. > (GR. 3: mets 3800, ) 
 
 Section g800. When deposit is made in such an as- 
 sociation by a minor, it shall be held for the exclusive right 
 and benefit of such depositor, free from the control or lien 
 of any person, except creditors, and be repaid to the person 
 making the deposit. The receipt or acquittance of such 
 minor shall be a sufficient release and discharge to the cor- 
 poration for such deposit. (R.S. Sec. 3801.) 
 
 Section 9801. No director or other officer of such 
 corporation shall borrow or use its funds except to pay the 
 necessary and current expenses, to an amount greater than 
 one-half of the amount of stock by him owned or held; 
 nor shall any officer or director be surety, or in any manner 
 an obligor, for a loan made by a corporation. (R. S. Sec. 
 3802. ) 
 
 SEcTION 9802. Such corporation may acquire, hold 
 and convey only such real estate as is necessary and conve- 
 nient for the transaction of its business, and such as it is 
 necessary to purchase, at judicial sale or otherwise, to secure 
 debts due it, and which it shall not hold for a longer period 
 than five years. In all cases of loans upon real estate the 
 expense of searches, examination of certificates, and re- 
 cording of papers, shall be paid by the borrower. (R. S. 
 Sec. 3803.) 
 
 SECTION 9803. Such corporation may receive on de- 
 posit, for safe-keeping or investment, all money offered for 
 that purpose by tradesmen, clerks, mechanics, laborers, min- 
 ors, or other persons, or by a religious or charitable society, 
 or municipal corporation, or that may be ordered to be de- 
 posited by a court in this state having custody of money, 
 
 and make investments thereof in the manner provided in this © 
 
 chapter. It may credit and pay such rates of interest thereon 
 as are agreed upon, not exceeding the rate allowed by law; 
 aiso purchase and sell promissory notes, drafts, and bills of 
 exchange, at such rates as are agreed upon, and transact 
 such other business as properly pertains to the business of 
 such associations not forbidden by the constitution and laws 
 of this state. (R. S. Sec. 3804.) 
 
 _SEcTION 9804. Upon an increase of stock, the stock- 
 holders at the time of such increase shall be entitled to a pro 
 
 rata share thereof, upon the payment of its par value; but. 
 
 E 
 : 
 : 
 . 
 y 
 
79 
 
 such right shall be forfeited if the amount be not paid within 
 thirty days of the time fixed therefor by the directors, by 
 public notice. (R. S. Sec. 3805.) 
 
 SEcTION 9805. Such corporations may invest their 
 funds in the purchase of stocks, bonds or other evidence of 
 indebtedness of the United States, stocks and bonds of the 
 state of Ohio, bonds of a municipal corporation or school 
 bonds of such a corporation, special school district or body 
 politic in this state, issued pursuant to law, or in bonds law- 
 fully issued by county commissioners herein to such an 
 amount as is deemed proper, or the stocks or bonds of a state 
 of the United States that for five years immediately preced- 
 ing such investment has paid the interest on its bonded debt 
 in lawful money of the United States, to the extent of ten 
 per cent of their paid-in capital and deposits, or in bonds or 
 notes secured by mortgages on unincumbered real estate sit- 
 uated in the county where the association is located, or an ad- 
 joining county in this state, worth, exclusive of buildings, 
 at least double the amount loaned thereon, unless accom- 
 panied with valid insurance upon the buildings thereon that 
 will make the value of the real estate and insurance at least 
 double the amount loaned thereon. But not more than sev- 
 enty-five per cent of the amount of the paid-in capital and 
 deposits of such an association shall at any time be invested 
 in such real estate securities. (R. S. Sec. 3806.) 
 
 SECTION 9806. Such associations, may discount notes 
 and bills of exchange, and take, receive, resérve and charge 
 upon a loan of discount made upon a note, bill of exchange 
 or other evidence of debt,, interest at the rate allowed by 
 law, which interest may be taken in advance, at the time 
 of making the loan or. discount. For interest taken 
 directly or indirectly in excess thereof, such associations 
 shall be subject to the same penalties as natural per- 
 sons. But in the purchase, discount or sale of a_ bill 
 of exchange, payable at another place than that of 
 its purchase, discount or sale, the current rate of dis- 
 count or premium may be charged and received in ad- 
 dition thereto. No such corporation shall advertise by 
 newspaper or letter-head or in any other way a larger 
 capital stock than has been actually paid in. (R. S. Sec. 
 3800. ) 
 
 SECTION 9807. The total liabilities of a person, com- 
 pany, corporation, or firm, to such an association, either as 
 principal debtor, or as security or indorser for others for 
 money borrowed, including in the liabilities of a company or 
 firm the liabilities of the several members thereof, at no time 
 shall exceed one-fifth part of its capital stock actually paid 
 in, but the discount of bills of exchange drawn against 
 actually existing values, and the discount of commercial or 
 business paper actually owned by the person, company, cor- 
 poration, or firm negotiating these, shall not be considered as 
 money borrowed. (R. S. Sec. 3807.) 
 
 Investment 
 of funds. 
 
 Discounts; in- 
 terest; adver- 
 tisements. 
 
 Limit of loans 
 to one person. 
 
Dividends. 
 
 Distribution 
 when associa- 
 tion ceases to 
 do business. 
 
 Annual report 
 to probate 
 judge. 
 
 Who are to be 
 deemed ‘un- 
 known de- 
 positors.”’ 
 
 80 
 
 Section 9808. As often as they deem proper, the di- 
 rectors may make and declare dividends of the profits of the 
 corporation, after paying its expenses, and reserving from 
 the net profits of the institution not less than one-tenth part 
 thereof, to be held and invested as a surplus fund to meet 
 contingencies in its business, which reservation shall con- 
 tinue until such surplus is equal to at least twenty per cent 
 of the amount of the full capital stock. Such dividends shall 
 be payable to the shareholders within ten days from the 
 time they are so declared. (R. S. Sec. 3808.) 
 
 Section 9809. When such an association ceases to do 
 business, or its directors determine to close up its affairs, the 
 assets thereof shall be distributed and disbursed by the di- 
 rectors, or other designated persons, as follows: 
 
 First. In payment of depositors. 
 
 Second. In payment of the debts of the corporation. 
 
 Third.. The remainder, proportionately among the 
 
 shareholders. (R. S. Sec. 3809.) 
 
 UNKNOWN DEPOSITORS. 
 
 SECTION 9804. Every incorporated bank or banking 
 association located in this state, whether now or hereafter 
 incorporated or organized under the laws of this state, or of 
 the United States, and every company, association, or per- 
 son, who in this state keeps an office or other place of busi- 
 
 ness, and engages in the business of lending money, receiv- . 
 
 ing money on deposit, buying and selling bullion, or bills of 
 exchange, notes, bonds, stocks, or other evidence of indebt- 
 edness, with a view of profit, annually, between the first and 
 second Mondays of January, shall make out and return to 
 the probate judge of the county in which such bank, office, 
 or other place of business is located, under oath of the 
 owner, or principal officer or manager thereof, a true and 
 complete statement, setting forth, in alphabetical order, the 
 names of all unknown depositors with such bank, company, 
 association or person, together with the amount due to every 
 such unknown depositor, including accrued interest and div- 
 idends, = (85.yv. 65", ) 
 
 _ SECTION 9865. Every corporation, company, associa- 
 tion, or person, in whose name a deposit of any money, bul- 
 lion, bill of exchange, note, stock, bonds or other evidence of 
 indebtedness has been made with any bank, company, asso- 
 ciation, or person, designated in the preceding section, shall 
 be deemed an unknown depositor within the meaning there- 
 of when the date of the last bona fide item of debt or credit 
 to the account of such depositor on the books of said bank 
 is more than seven years prior to the time fixed by such 
 section for the filing of such statement with the probate 
 court of the proper county. In fixing the date of the last 
 item of credit to the account of a depositor, reference shall 
 not be had to any item of credit for interest or dividends 
 
 | 
 , 
 , 
 
SI 
 
 accrued on such deposit, unless it be entered upon a pass 
 book presented by and returned to the depositor, or unless 
 the depositor be a minor. (85 v. 75 2.) 
 
 SecTIon 9866. The probate judge of each county, on 
 or before the third Monday of January, annually, shall re- 
 cord in a book kept for that purpose, entitled “record of un- 
 claimed-deposits in banks, ......-..... County, Ohio,” and 
 which at all times shall be open to public inspection, all state- 
 ments returned to him for the preceding year under the 
 above provisions. Such judge shall designate in such book 
 at the head of each statement recorded therein, the name 
 of the bank, company, association or person. by whom such 
 statement was returned. The original statement returned 
 to him shall be kept on file and preserved in his office. (85 
 
 v. 65 3.) 
 
 SECTION 9867. There shall be allowed and paid to the 
 probate judge of each county, the sum of eight cents per 
 .hundred words, for all statements recorded by him, as above 
 provided. The cost of recording the names and amounts 
 due to depositors, by whom such deposits were made, and 
 who are “Unknown”, shall be paid to such judge by the 
 bank, company, association, or person, as herein provided, 
 at the time such annual statement is returned, and by such 
 bank, company, association, or person, shall be deducted 
 from the amount due such unknown depositor. (85 v. 65 4.) 
 
 SECTION 9868. When a corporation, company, associa- 
 tion, or person, in whose name a deposit is made with a 
 ‘bank, company, association, or person designated herein, be- 
 comes unknown within the definition and meaning hereof, 
 the amount due to such depositor shall be paid by such bank, 
 company, association or person, to the treasurer of the 
 county, in which such bank, company, or association is lo- 
 cated, and by such treasurer be credited to the general fund 
 of such county. But it shall not be paid until after the ex- 
 piration of eight years from the date of the first statement, 
 in which the name and amount due such unknown depositor 
 was returned to the probate judge. The bank, corporation, 
 association or person so making such payment shall thereby 
 be released from any claim, demand or liability to pay it or 
 any part thereof to the depositor, his administrators, execu- 
 tors or assigns. (85 v. 65 5.) 
 
 SECTION 9869. If at any time thereafter proof is made 
 to the satisfaction of the probate court, or the county com- 
 missioners, of the right of any person or persons, by inherit- 
 ance or otherwise, to such funds or any part thereof, or so 
 paid to the treasurer, such court or commissioners shall so 
 certify to the county auditor, who thereupon shall draw a 
 warrant on the treasurer of the county in favor of such 
 claimant or claimants, or the legal representative or duly 
 authorized agent thereof, for the sum so paid into the treas- 
 ury. If any such person or persons become aggrieved by 
 
 GtecH, oar iy 
 
 Record to be 
 kept by _pro- 
 bate judge. 
 
 Fees for 
 making such: 
 record, 
 
 Unknown de- 
 posits to be 
 paid into 
 county 
 treasury. 
 
 How such 
 deposits 
 reclaimed. 
 
Penalty for 
 refusal or 
 neglect to 
 comply. 
 
 Recovery and 
 disposition of 
 penalties. 
 
 Who may sue; 
 duty of prose- 
 
 cuting attorney. 
 
 7 
 
 Powers and 
 limitations. © 
 
 Capital stock. 
 
 How loans 
 made. 
 
 82 
 
 the decision finding or action of the probate court or the 
 county commissioners, such person or persons may appeal 
 to the court of common pleas, in the manner provided by 
 law for appealing from the decisions of county commission- 
 ers, or from those of the probate judge. (85 v. 65 6.) 
 
 SECTION 9870. Every bank, company, association, or 
 person designated herein, who neglects or refuses to comply 
 with these provisions, shall forfeit and pay five hundred 
 dollars, for every such offense. (85 v. 65 7.) 
 
 SECTION 9871. The penalty so imposed shall be re- 
 covered by action in the name of the state, before any court 
 of competent jurisdiction; and when collected, shall be paid 
 to the treasurer of the county in which the judgment there- 
 for is recovered. One-half thereof shall be by such treas- 
 urer credited to the general fund of such county, and one- 
 half thereof be by him held for the use of the state. (85 
 v. 65 8.) 
 
 SECTION 9872. The action provided by the preceding 
 section may be instituted and prosecuted to judgment by any 
 citizen of the state. The prosecuting attorney of such 
 county hereby is required to institute and prosecute such 
 action against every bank, company, association or person so 
 designated, and located in such county, who fails to comply 
 with the foregoing provisions. (85 v. 65 9.) 
 
 COLLATERAL, LOAN. COMPANIES. 
 
 SEcTION 9857. Corporations may be organized for the 
 purpose of making loans on pledges of goods and chattels 
 and upon mortgage thereof; but they shall not receive 
 money on deposit, engage in banking, nor make loans upon 
 security other than herein is provided. The names of such 
 corporations shall begin with the word “The” and end with 
 the words “Collateral Loan Company.” (97 v. 134 I.) 
 
 SEcTION 9858. The capital stock of such company 
 shall not exceed five hundred thousand dollars in shares of 
 fifty dollars each. When twenty thousand dollars have been 
 duly subscribed and one-fourth of it actually paid in, the 
 subscribers thereto may organize and transact business. (97 
 Vv. 134 2.) 
 
 SECTION 9859. When such company has disposable 
 funds it shall loan on all goods and chattels offered, em- 
 braced within its rules and regulations, in the order offered ; 
 with the exception that it always shall discriminatte in favor 
 of small loans to the indigent. It may loan to four-fifths of 
 the appraised value of gold and silver plate and ware, and 
 to two-thirds of such value on other goods and chattels. The 
 rate of interest charged shall not exceed eight per cent per 
 annum, and other charges, including insurance, investiga- 
 
83 
 
 tion of titles, and the expense of the custody and care of 
 property offered as security must not exceed ten per cent 
 of the amount loaned. (97 v. 134 3.) 
 
 SECTION 9860. Such company shall insure all pledged 
 property in its possession against loss or damage by fire, in 
 an amount equal to the appraised value thereof, to be ascer- 
 tained when the loan is made. In case of loss or damage by 
 fire it shall be liable to the pledgers of such property for the 
 amount thereof after paying the principal, interest, loan 
 charges and expenses. (97 Vv. 134 3.) 
 
 SECTION 9861. Such company shall give to each 
 pledger a card inscribed with its name, the article or articles 
 pledged, name of the pledger, the amount loaned, the rate 
 of interest, amount of loan charges and expenses, the date 
 when made and date when payable. (97 v. 135 5.) 
 
 SECTION 9862. A person who has deposited property 
 with such company as a pledge to secure a loan, at any time 
 before the maturity of such loan may redeem it, on payment 
 of the principal sum borrowed with interest and other 
 ‘charges which have accrued at the date of payment. (95 v 
 
 135 4.) 
 
 Section 9863. If the property pledged is not re- 
 deemed upon the maturity of the loan it shall be sold at 
 public auction. Notice specifying the time and place of 
 such sale shall be mailed to the last known address of the 
 pledger at least one week previous to the time of such sale. 
 The net surplus from a sale, after paying loan charges and 
 expenses, shall be held three years for the owner; when, 
 if not demanded, it shall be forfeited to the company. (97 
 
 ASS 352) 
 
 CHATTEL AND SALARY LOAN COMPANIES. 
 
 SECTION 6346-1. It shall be unlawful for any person, 
 firm, partnership, association or corporation, to engage, or 
 continue, in the business of making loans, on plain, en- 
 dorsed, or guaranteed notes, or due bills, or otherwise, or 
 upon the mortgage or pledge of chattels or personal prop- 
 erty of any kind, or of purchasing or making loans on 
 salaries or wage earnings, or of furnishing guarantee or 
 security in connection with any loan or purchase, as afore- 
 said, at a charge or rate of interest in excess of eight per 
 centum per annum, including all charges, without first hav- 
 ing obtained a license so to do from the superintendent of 
 banks and otherwise complying with the provisions of this 
 act.. 
 
 SECTION 6346-2. Any person, firm, partnership, cor- 
 poration or association desiring to obtain a license, shall in 
 apply therefor, under oath, on forms prescribed by the 
 superintendent of banks; and by paying annually to the 
 
 Insurance. 
 
 Memorandum 
 of loans. 
 
 Redemption 
 of pledges. 
 
 Sale of 
 pledges. 
 
 Loans upon 
 chattel or 
 Wage earnings 
 without 
 license, un- 
 lawful. 
 
 pplication 
 
 er oath; 
 fee for 
 license; 
 expiration. 
 
84 
 
 superintendent of banks, a license fee in the sum of one 
 hundred dollars, shall be entitled to obtain a license, which 
 license fee shall include the entire cost of inspection, or in- : 
 spections, for a period of one year. The said license shall | 
 be issued by the superintendent of banks, and shall expire 
 the first day of March next following the date of its issu- 
 ance, except that the fee of one hundred dollars herein pro- 
 vided shall be apportioned for that part of the year 1915 
 remaining after the date when this act shall become law, 
 but thereafter no abatement of said charge shall be made 
 if licenses are issued for less than one year, and no other 
 or further license fee shall be required from any such 
 licensee, by the state or any municipality nor shall any 
 fees or charges be collected under section 736 of the Gen- 
 eral Code. Every such license and bond hereinafter pro- 
 vided for shall be renewed annually on the first day of 
 March in each year. No license shall be granted to any 
 . person, firm, partnership, corporation or association unless, 
 and until, such applicant shall, in writing, and in due form, 
 to be first approved by and filed with the superintendent 
 Appointment of Of banks, appoint an agent, a resident of the state of Ohio, 
 am po. and county where his office is to be located, upon whom . 
 
 whom 
 process may all judicial and other process, or legal notice, directed to 
 
 a ad such applicant may be served; and in case of the death, 
 removal from the state, or any legal disability or disquali- 
 fication of any such agent, service of such process or notice 
 may be made upon the superintendent of banks. The said 
 superintendent of banks may revoke any license, if the 
 licensee, his officers, agents, or employes shall violate any 
 of the provisions of this act. Whenever for any cause, 
 
 Revocation of Stich license is revoked, said superintendent of banks shall 
 
 license; bond. not issue another to said licensee until the expiration of 
 
 at least one year from the date of revocation of such 
 license. Every such applicant shall execute and file a bond 
 to the state of Chio in the penal sum of two thousand 
 dollars with. the superintendent of banks to be approved 
 by him, for the faithful observance of all provisions of 
 this act.. Any person claiming to be injured by a violation 
 of this act by a licensee may maintain an action on said 
 
 ee — 
 
 OE ee 
 
 bond. : 
 
 b 
 
 : : : : 4 
 
 Statements re- SECTION 6346-3. Application for a license shall state 7 
 
 rue ta fully the name or names, and address, of the person or 
 ities aye corporation, and of every member of the firm, partnership, 
 
 or association authorized to do business thereunder, and 
 the location of the office or place of business in which the 
 business is conducted; and in the case of a corporation, 
 shall also state the date and place of its incorporation, the 
 name and address of its manager for the period for which 
 the license is issued, and the names and addresses of its 
 directors for the period for which the license is issued, and 
 the name and address of the agent as provided in section 
 - 6346-2 of this act. Such license shall be kept posted in a 
 conspicuous place in the office where the business is trans- 
 
85 
 
 acted. No person, firm, partnership, corporation or associa- 
 tion so licensed, shall transact or solicit business under any 
 other name. Not more than one office or place of business 
 shall be maintained under the same license. But in case of 
 removal, the superintendent of banks, may, on application, 
 endorse thereon a transfer to the new place of business, 
 with the date of transfer, and from the time of such en- 
 dorsement, the new place so designated shall be deemed the 
 place designated in the license. y, 
 
 SECTION 6346-4. The superintendent of banks shall, 
 either personally, or by such person or persons as he may 
 appoint for the purpose, at least once a year, and oftener, 
 if- he deems it advisable, investigate the business and affairs 
 of every such licensee, and for that purpose shall have free 
 access to the vaults, books and papers thereof, and other 
 sources of information with regard to the business of such 
 licensee and whether it has been transacted in accordance 
 with this act. Said superintendent of banks, and every 
 examiner appointed by him, shall have authority to ex- 
 amine, under oath or affirmation, any person whose testi- 
 mony may relate to the business of any such licensee or 
 alleged violator herein. 
 
 SECTION 6346-5. No such licensee or licensees shall 
 make a loan or purchase or furnish guaranty, or security, 
 as hereinbefore provided at a greater total charge, includ- 
 ing interest, than three per cent per month; except that on 
 loans that do not exceed fifty dollars in amount, in what- 
 ever manner made payable, an inspection fee of not to 
 exceed one dollar may be collected at the time the, loan 
 is made, when such loan is made for a period of not less 
 than four months; and such inspection fee shall not be 
 imposed upon the same borrower for any new or additional 
 loan made within four months after such charge has been 
 imposed. Said three per cent per month shall not be paid 
 in advance and shall be computed on unpaid monthly bal- 
 ances, without compounding interest or charges. No bonus, 
 fees, expenses, or demands of any nature whatsoever, other 
 than said inspection fee and said total charge of three per 
 cent per month (which shall include interest) as herein- 
 before provided, shall be made, paid, or received, directly 
 or indirectly, for such loans, purchases or furnishing guar- 
 anty or security, wage assignments or advancements ex- 
 cept court costs upon the actual foreclosure of the security 
 or upon the entry of judgment. Nothing in this act shall 
 apply to pawn brokers who obtain a municipal license as 
 provided in sections 6337 to 6346, inclusive, of the General 
 Code or to national banks or to state banks or any person, 
 partnership, association or corporation whose business now 
 comes under the supervision of the superintendent of banks. 
 No charge or fee shall be made unless the loan is actually 
 made. A copy of this section shall be furnished each bor- 
 rower at the time the loan is made. 
 
 Annual inves- 
 tigation of 
 business of 
 licensee. 
 
 Maximum 
 charge allowed 
 including in- 
 terest; inspec- 
 tion fee. 
 
 Persons to 
 whom act does 
 not apply. 
 
Statement and 
 receipt shall 
 be given 
 borrower or 
 pledger. © 
 
 Procedure in 
 valid assign- 
 ment of wages 
 or earnings. 
 
 Term assign- 
 ment defined; 
 assignment of 
 future wages. 
 
 Priority of 
 assignment, 
 how obtained. 
 
 Void after 
 one year 
 unless re- 
 filed. 
 
 86 
 
 SECTION 6346-6. Every person, firm, partnership, cor- 
 poration or association licensed as herein provided, shall 
 give to the assignor, borrower, or pledger, a statement upon 
 which shall be written in ink, typewritten or printed, the 
 name of the licensee making such loan or purchase, name 
 of the assignor, borrower or pledger, the amount of the 
 loan, the rate or amount of interest charged, the date when 
 the loan is made, and the date when payable; and shall 
 also give the assignor, borrower, or pledger, a receipt for 
 each payment of principal or interest. 
 
 SECTION 6346-7. No assignment of any salary, wages 
 or earnings, or any part thereof given to secure a loan shall 
 be valid unless the same shall be in writing, signed in per- 
 
 son by the person making the same; and if such person ~ 
 
 is married and living with husband or wife, signed also 
 by the husband or wife of such person, as the case may be. 
 Nor shall any such assignment be valid unless the same 
 shall be in writing and made to secure a debt contracted 
 simultaneously with the execution of such assignment, with 
 all blank spaces therein filled in with ink or typewriting, 
 together with the date, names af the assignor and assignee, 
 the amount for which such assignment is made, together 
 with the rate of interest charged. 
 
 The term assignment as used in this section shall in- 
 clude every instrument purporting to transfer an interest 
 in or any authority to collect the wages, salary or earnings 
 of such person. Any assignment of wages, salary or earn- 
 ings, made in accordance with the provisions of this section 
 shall bind the wages, salary or earnings earned or to be 
 earned by the assignor until the loan secured by such as- 
 signment and interest thereon is fully paid, but no assign- 
 ment or conveyance of wages, salary or earnings to be 
 
 earned in the future given to secure a loan shall be binding 
 
 for a sum in excess of fifty per cent of the amount due or 
 to become due the person making such assignment. 
 
 In order to obtain a priority of any such assignment 
 over any other assignment, the holder thereof, shall deposit 
 a true copy with the recorder of the county where the per- 
 son making such assignment, if a resident of the state, 
 resides, or if not a resident of the state, then with the 
 recorder of the county where such assignment is made, 
 together with a sworn statement by the holder, his agent, 
 or attorney, of the amount due, and the rate of interest 
 charged. All such assignments shall be filed and preserved 
 by the recorder as provided in section 8562 of the General 
 Code. When so deposited, any such assignment shall have 
 priority over any other assignment subsequently deposited 
 as herein provided. 
 
 Every such assignment so filed shall be void as against 
 other assignments to creditors of the person making it 
 after the expiration of one year from the filing thereof, 
 unless within thirty days next preceding: the expiration of 
 said period of one year a true copy thereof, together with 
 
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 3 
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87 
 
 a sworn statement by the holder thereof, his agent or attor- 
 ney, of the amount then due and rate of interest charged 
 is re-filed with the county recorder as herein provided. 
 
 A sworn copy of such assignment so filed together with 
 a statement of the amount due filed with any employer of 
 the assignor shall bind not exceeding fifty per cent of any 
 salary, wages or earnings due or to become due such as- 
 signor from the time the same is filed with such employer 
 until any such loan and interest is fully paid and discharged. 
 
 SECTION 6346-8. Any person, firm, partnership, cor- 
 poration or association, and any agent, officer or employe 
 thereof, violating any provision of this act, shall for the 
 first offense be fined not less than fifty dollars nor more 
 than two hundred dollars and for a second offense not less 
 than two hundred nor more than five hundred dollars, and 
 imprisoned for not more than six months. The superin- 
 tendent of banks upon such second conviction shall revoke 
 any license theretofore issued to such person, firm, part- 
 nership, corporation or association. Any instruments taken 
 in connection with the transaction upon which the convic- 
 tion is made, shall be illegal, void and of no effect, and it 
 shall then be the duty of the superintendent of banks to 
 so notify the borrower in writing. Any charge of interest 
 paid in excess of that provided herein may be recovered 
 by the payor in an action at law. 
 
 SECTION 6346-9. The superintendent of banks shall 
 enforce the provisions of this act, make all reasonable effort 
 to discover alleged violators, notify the proper ‘prosecuting 
 officer whenever he has reasonable grounds to believe that 
 a violation has occurred, act as complainant in the prosecu- 
 tion thereof, aid such officers to the best of his ability in 
 such prosecution, and make a separate report to the gov- 
 ernor at the end of each fiscal year. The superintendent 
 of banks shall employ the assistant or assistants necessary, 
 in his judgment, to make the investigation and inspection 
 provided for in this act. 
 
 SECTION 6346-10. Any licensee, or licensees, who holds 
 a license under the provisions of sections 6346-1, 6346-2, 
 6346-3, 6346-4, 6346-5, 6346-6 and 6346-7, of the General 
 Code, inclusive, which has not yet expired, and who shall 
 present his license for cancellation to the superintendent of 
 banks herein, shall receive therefor a credit in the amount 
 of ten dollars, and the superintendent of banks shall credit 
 the same upon the license herein. 
 
 SEcTION 2. Should any section or provisions of this act 
 be decided by the courts to be unconstitutional or invalid, 
 the same shall not affect the validity of the act as a whole 
 or any part thereof, other than the part so decided to be 
 unconstitutional. (106 v. 281.) . 
 
 Sworn copy of 
 assignment and 
 statement, 
 filed with 
 employer. 
 
 Penalty for 
 violation. 
 
 Instrument 
 void upon con- 
 viction; re- 
 covery of ex- 
 cess interest. 
 
 Enforcement 
 of law; report 
 to governor. 
 
 Credit to 
 licensee on 
 presentation 
 and cancella- 
 tion of license. 
 
Who must be 
 licensed. 
 
 Securities 
 defined. 
 
 Dealer 
 defined. 
 
 Who are not 
 dealers. 
 
 88 
 
 BLUE SKY LAW. 
 
 Const. Art. XIII,. Sec. 2. 
 
 Corporations may be formed under general laws; but all such 
 laws may, from time to time, be altered or repealed. Corpora- 
 tions may be classified and there may be conferred upon proper 
 boards, commissioners or officers, such supervisory and regulatory 
 powers over these organizations, business and issue and sale of 
 stocks and securities, and over the business and sale of the stocks 
 and securities of foreign corporations and joint stock companies 
 in this state, as may be prescribed by law. Laws may be passed 
 regulating the sale and conveyance of other personal property, 
 whether owned by a corporation, joint stock company or individual. 
 
 SECTION 6373-I. Except as otherwise provided in this 
 act, no dealer shall, within this state, dispose or offer to 
 dispose of any stock, stock certificates, bonds, debentures, 
 collateral trust certificates or other similar instruments (all 
 hereinafter termed “securities”) evidencing title to or in- 
 terest in property, issued or executed by any private or 
 quasi-public.corporation, co-partnership or association (ex- 
 cept corporations not for profit,) or by any taxing sub- 
 division of any other state, territory, province or foreign 
 government, without first being licensed so to do as here- 
 inafter provided. 
 
 SECTION 6373-2. The term “securities”, as used in 
 this act, shall not be deemed to include conveyances of 
 real estate; or, where the same have not been judicially de- 
 clared invalid; and where, at the time of such sale, there 
 is no default in payment of any part of the interest or prin- 
 cipal of the same: 
 
 1. Mortgage bonds and notes (other than corporate 
 bonds where more than fifty per cent of the entire issue is 
 not included in a sale to one purchaser) secured by a 
 bona fide mortgage on real estate; 
 
 2. Securities of quasi-public corporations, the issuance 
 of which has been authorized by the public service com- 
 mission of this state; 
 
 3. The stock or obligation of any national bank, or of 
 any bank, trust company or building and loan association, 
 organized under the laws of this state and subject to ex- 
 amination and supervision by the proper authorities thereof. 
 
 The term ‘“‘dealer”, as used in this act, shall be deemed 
 to include any person or company, except national banks, 
 disposing or offering to dispose, of any such security, 
 through agents or otherwise, and any company engaged in 
 
 the marketing or flotation of its own securities either di- _ 
 
 rectly or through agents or underwriters or any stock pro- 
 motion scheme whatsoever, except: 
 
 a. An owner, not the issuer of the security, who dis- 
 poses of his own property, for his own account; when such 
 disposal is not-made in the course of repeated and succes- 
 sive transactions of a similar character by such owner; or 
 a natural person, other than the underwriter of the: se- 
 
 | 
 
 he i Be 
 
89 
 
 curity, who is the bona fide owner of the security and dis- 
 poses of his own property for his own account; 
 
 b. One, who in a trust capacity created by any law of 
 the United States or of this or any other state or by ju- 
 dicial authority, lawfully disposes of any property em- 
 braced within such trust; 
 
 c. A bank or trust company, organized under the laws 
 of this state and subject to examination and supervision 
 by the proper authority thereof, selling a security for a 
 licensee, other than the issuer or underwriter thereof, at a 
 commission of not more than two per cent, where such 
 bank or trust company is not a regular dealer in securities; 
 
 d. One, not the issuer, who disposes of securities to.a 
 licensee under this act or to a company which, as a part 
 of its regular business, deals in or holds such securities; 
 
 e. A pledgee selling, in the ordinary course of busi- 
 ness, a security pledged to him as security for debt in good 
 faith and not for the purpose of avoiding the provisions of 
 this act; 
 
 f. The issuer, organized under the laws of this state, 
 where the disposal, in° good faith and not for the purpose 
 of avoiding the provisions of this act, is made for the sole 
 account of the issuer, without any commission and at a 
 total expense of not more than two per centum of the pro- 
 ceeds realized therefrom plus five hundred dollars and 
 where no part of the issue to be disposed of is issued, di- 
 rectly or indirectly, in payment for patents, services, good 
 will, or for property not located, in this state; provided 
 that the president and secretary, or the incorporators if done 
 before organization, of the issuer shall, prior to such dis- 
 posal, file with the “commissioner” a written statement 
 setting forth the existence of all such facts and that such 
 issuer is formed for the purpose of doing business within 
 this state. : 
 
 As used in this act, the term “company” shall include 
 any corporation, co-partnership or association, incorporated 
 or unincorporated, and whenever and wherever organized ; 
 “dispose of” shall be construed to mean “sell, barter, pledge 
 or assign for a valuable consideration or obtain subscrip- 
 tions for”; “issuer’’, the original issuer of the security; and, 
 where the context demands it, words in the present tense 
 include the future tense; in the masculine gender include 
 the feminine and neuter gender; in the singular number 
 include the plural, and in the plural, the singular number; 
 the word “whoever” includes all persons, natural and arti- 
 ficial, principals, agents and employees; ‘“‘and” may be read 
 ‘Om ane ‘or “and”. 
 
 SECTION 6373-3. Before such license shall be issued 
 to any dealer, there shall be filed by him with the superin- 
 tendent of banks, herein termed the “commissioner”, to- 
 gether with a filing fee of five dollars, an application for 
 such license, together with information in such form as shall 
 be determined by such “commissioner”, setting forth: 
 
 $5 filing fee 
 to accompany 
 application. 
 
Names and 
 addresses. 
 
 Location. 
 
 Business to 
 be conducted 
 under this 
 license. 
 
 Foreign cor- 
 porations to 
 furnish copy 
 of articles. 
 
 Applicant must 
 
 publish notice 
 of application. 
 
 Annual fee $50. 
 
 Agent’s fee $5. 
 
 go 
 
 a. The names and addresses of the directors and of- 
 ficers if such applicant be a corporation or association, and 
 of all partners if it be a partnership, and of the person if 
 the applicant be an individual, together with the names and 
 addresses of all agents of such applicant assisting in the 
 disposal of such securities ; 
 
 b. Location of the applicant’s principal office and of 
 his principal office in the state, if any ; 
 
 c. The general plan and character of the business of 
 said applicant, together with references, which the ‘‘com- 
 missioner” shall confirm by such investigation as he may 
 deem necessary, establishing the good repute in business of 
 such applicant, directors, officers, partners and agents; 
 
 If the applicant be a corporation organized under the 
 laws of any other state, territory or government, or have 
 its principal place of business therein, it shall also file a 
 copy of its articles of incorporation, certified by the proper 
 othcer of such state, territory or government, and of its 
 regulations and by-laws; and if it be an unincorporated 
 association, a certified copy of its articles of association, 
 or deed of settlement. 
 
 The applicant at the same time shall also file with said 
 “commissioner” a duly executed written instrument, ir- 
 revocable, consenting that any action brought against such 
 applicant, arising out of and founded upon the fraudulent 
 disposal of such securities by him or his agents, may be 
 brought in Franklin county, and that, in the event that 
 proper service of process cannot be had upon such appli- 
 cant in such county, service of process made therein by the 
 sheriff of such county, by sending a copy thereof by regis- 
 tered mail, at least thirty days prior to taking judgment in 
 such case, addressed to such applicant at the place of his 
 prinicpal office named in his application or such other place 
 as the applicant may thereafter designate in writing filed 
 with the “commissioner”, shall have the same effect as if 
 personally made upon the applicant, according to the laws 
 of this state. 
 
 SECTION 6373-4. Notice of all applications for regis- 
 tration as a licensed dealer in such ‘securities shall be pub- 
 lished in a daily newspaper of general circulation in the 
 city where the applicant’s principal place of business in the 
 state is located, or in the city of Columbus, if the applicant 
 has no such place-of business in the state, and no such 
 application shall be acted on by the “commissioner” until 
 the expiration of one week from the date of such publica- 
 tion, but shall be acted upon within twenty days after proof 
 of such application has been filed with him. If the “com- 
 missioner” be satisfied of the good repute in business of such 
 applicant and named agents, he shall, upon the payment of 
 an annual fee of fifty dollars, and an additional fee of five 
 dollars for each agent named in the application, register the 
 applicant as a licensed dealer in such securities, and issue 
 to him a license, containing the name of the applicant and 
 
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 all such agents, renewable annually upon payment of such 
 annual fee, unless revoked as herein provided. The ex- 
 pense of all publications provided for in this act shall be 
 paid by the applicant for license. Pending a final dispo- 
 sition of such application the “commissioner” may grant 
 temporary permission to such applicant to transact busi- 
 ness as a dealer under this act. All such renewals shall be 
 made as of the first day of January in each calendar year 
 upon proper application therefor, filed not less than twenty 
 nor more than sixty days next preceding such date. 
 
 SECTION 6373-5. Such license shall be taken out at the 
 beginning of each calendar year, but it may be issued at 
 any time for the remainder of such year, and in such case 
 the annual fee shall be reduced four dollars for each ex- 
 pired month but in no case shall it be less than ten dollars. 
 Upon the payment of a fee of five dollars for each speci- 
 fied agent not named in such license the same may at any 
 time be amended or supplemented to include such agent. 
 Upon the written request of such applicant, accompanied 
 by a fee of two dollars, such license shall be revoked as 
 to any agent or agents of such applicant, and an amended 
 license shall thereupon be issued for such applicant and his 
 remaining agents; and thereafter the applicant shall not be 
 bound by the acts of the agent whose license has been re- 
 voked. - Notice of such amendments shall also be pub- 
 lished as aforesaid. 
 
 SECTION 6373-6. Such “commissioner” may at any 
 time revoke any such license, or refuse to renew the same, 
 upon ascertaining that the licensee: 
 
 a. Is of bad business repute ; 
 
 b. -Has violated any provision of this act; or 
 
 c. Has engaged, or is about to engage, under favor 
 of such license, in illegitimate business or in fraudulent 
 transactions. 
 
 No dealer whose license has been revoked shall be re- 
 
 licensed within six months from the date of such revoca- 
 
 tion. 
 
 _ The “commissioner” shall at once lay before the prose- 
 cuting attorney of the proper county any evidence which 
 shall come to his knowledge of criminality under this act. 
 
 SECTION 6373-7. At least five days before revoking or 
 refusing to grant or renew, a license, the “commissioner” 
 shall send by registered mail to the licensee, at the address 
 named in the application written notice of his intention 
 so to do, specifying therein the reasons for such revocation 
 or refusal. 
 
 SECTION 6373-8. Any one whose license shall be re- 
 fused or revoked, or to whom a renewal of license may 
 be denied, may file, within thirty days thereafter, in the 
 court of common pleas of Frankkn county, a petition 
 against the “commissioner”, officially, as defendant, alleg- 
 ing therein, in brief detail, the plaintiff’s qualifications to 
 
 Renewable 
 annually. 
 
 May grant 
 temporary 
 permit. 
 
 Renewals must 
 be made on or 
 before Jan- 
 uary. first. 
 
 License may 
 be taken out 
 for remainder 
 of year. 
 
 Minimum 
 fee $10. 
 
 Additional 
 agents. 
 
 Revocation 
 of agency. 
 
 License to be 
 revoked when. 
 
 Notice of 
 revocation. 
 
 Petition for 
 reversal of 
 commissioner’s 
 ruling. 
 
Court’s de- 
 cision final. 
 
 Must file 
 statement 
 of condition 
 of issuer. 
 
 92 
 
 be licensed and praying for a reversal of the official action 
 complained of. Upon service of summons upon said. de- 
 fendant, returnable within three days from its date, but 
 otherwise made as in civil actions, he shall, within one week 
 from such return day, file an answer, in which he shall 
 allege by way of defense the grounds previously assigned 
 in his notice to such applicant or licensee, and such other 
 grounds as shall, in the meantime, accrue or be discovered. 
 All allegations of the answer shall be deemed to stand de- 
 nied without further pleading and, upon application of 
 either party, the cause shall be advanced and heard without 
 delay. Merely technical irregularities in the procedure of 
 such “commissioner” shall be diregarded and the burden 
 shall rest upon the plaintiff to disprove the grounds assigned 
 and specified in the official action complained of. The 
 court’s decision shall consult only the rights of the plaintiff 
 and the protection of the public and the “commissioner” 
 shall prosecute no proceedings to obtain a reversal, modi- 
 fication or vacation of a judgment rendered in favor of the 
 plaintiff and in such event, shall forthwith issue the license 
 applied for. A judgment sustaining the refusal of the 
 “commissioner” to grant or renew a license shall not bar, 
 after thirty days, a new application by plaintiff for a license, 
 nor shall a judgment in favor of the plaintiff prevent such 
 “commissioner” from thereafter revoking such license for 
 any proper cause which may thereafter accrue or be dis- 
 covered. 
 
 SECTION 6373-9. Before such licensee shall dispose of 
 any such securities, within this state, he shall file with 
 such “commissioner”, in such form as shall be determined 
 by him, the following information concerning such securi- 
 ties: If issued by any company, 
 
 (a) The name, location of principal office of the issuer 
 and the names of its officers and directors, or if a co-part- 
 nership, the partners; 
 
 (b) A statement of the issuer, showing, in general 
 detail, the assets and liabilities, and capital stock of the 
 issuer, as of a date as late as the close of its last fiscal year, 
 and of its gross income, expenses and fixed charges, for 
 one year last prior thereto, or for such time as the issuer 
 has been in business, if less than one year; 
 
 (c) <A pertinent description of such securities, and the 
 purpose of said issue, and 
 
 (d) Unless the foregoing information be executed un- 
 der the provisions of the following section, the approxi- 
 
 mate price at which the licensee purposes to dispose of such — 
 
 securities, 
 
 If the securities be of a taxing subdivision of any other 
 state, territory, province or foreign government, and are 
 not an obligation of the entire taxing subdivision and pay- 
 able out of the proceeds. of a general tax, there shall be 
 filed the information required by paragraphs (c) and (d) 
 of this section and, in addition thereto, a statement of the 
 
 7 
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G5: 
 
 licensee, setting forth the nature of the obligation of such 
 securities, how payment of the same is secured and that, 
 to the best of his knowledge, there is no default in the pay- 
 ment of any part of the interest or principal of such se- 
 curities and are no adjudications adversely affecting, or 
 pending suits questioning the validity of the same. 
 
 SECTION 6373-10. The information required in the pre- 
 ceding section need not be filed: 
 
 (a) Unless required by the “commissioner”, if the 
 same has been filed by any other licensee; or 
 
 (b) If actual current sales of the securities, at prices 
 quoted, shall have been, from time to time, for not less than 
 six months next preceding such disposal, published in the 
 regular market reports of the news columns of a daily 
 newspaper of general circulation in this state; or 
 
 (c) Where there is a disposal of securities, the price 
 paid or consideration rendered for which, in a single trans- 
 action, by one disposee, shall amount to five thousand dol- 
 lars or more; or 
 
 (d) Where the securities disposed of are those of 
 manufacturing or transportation companies, or of common 
 carriers or other public utilities, issued and outstanding in 
 the hands of bona fide purchasers for value, prior to March 
 Ist, 1914, where such companies were, on said date, and 
 shall be, at the time of sale, actual going concerns, either 
 directly or through lessees, and where there shall be at the 
 time of sale no default in payment of any part of the 
 interest or principal of such securities; or 
 
 (e) Where the information required, other than the 
 approximate selling price, is contained in any standard 
 manual of information, approved by such “commissioner” ; 
 or 
 
 (f) Where the disposal is made for a commission of 
 less than one percentum of the par value thereof, by a 
 licensee who is a member of a regularly organized and 
 tecognized stock exchange and who has an established and 
 lawfully conducted place of business in this state, regularly 
 open for public patronage as such. 
 
 SECTION 6373-11. Every dealer, before or at the time 
 of circulating the same, shall furnish to the ‘“‘commissioner” 
 one copy of each prospectus, circular or other document 
 of like nature and of each advertisement, circulated by him 
 in connection with the sale of any securities concerning 
 which information is required to be filed under the pro- 
 visions ef sections 6373-9 and 6373-10 of the General Code. 
 
 SECTION 6373-12. No person or company shall, for the 
 purpose of organizing or promoting any insurance com- 
 pany, or of assisting in the flotation of its stock after or- 
 ganization, dispose or offer to dispose, within this state, of 
 any such stock, unless the contract of subscription or dis- 
 posal shall be in writing, and contain a provision substan- 
 tially in the following language: 
 
 Statement 
 
 of condition 
 of issuer need 
 not be filed, 
 when. 
 
 Circulars, etc., 
 to be filed. 
 
 Insurance 
 companies. 
 
Expense not 
 
 to exceed 15%. 
 
 Liability of one 
 who counsels 
 or advises the 
 purchase with- 
 out disclosing 
 agency. 
 
 Statement of 
 information 
 to be filed 
 by- issuer. 
 
 Five dollar 
 filing fee. 
 
 94 
 “No sum shall be used for commission, promotion and 
 organization expenses on account of any share of stock in 
 this company in excess: Of. 7. .).2eaes eee per cent *of 
 the amount actually paid upon separate subscriptions, or 
 in lieu-thereof there may be-inserted,“$:. as]... per 
 share from every fully paid subscription’, and the remainder 
 of such payment shall be invested as authorized by the law 
 governing such company and held by the organizers (or 
 trustees as the case may be) and the directors and officers 
 of such company after organization, as bailees for the sub- 
 scriber, to be used only in the conduct of the business of 
 such company after having been licensed and authorized 
 
 therefor by proper authority.” 
 
 The amount of such commission, promotion and or- 
 ganization expenses shall in no case exceed fifteen per cent. 
 of the amount actually received upon the subscription. 
 
 Funds and securities held by such organizers, trustees, 
 directors or officers, as bailees, shall be deposited with a 
 bank or trust company of this state or invested as provided 
 in sections ninety-five hundred and eighteen and ninety-five 
 hundred and nineteen of the General ae: until such com- 
 pany has been licensed as aforesaid. 
 
 “SECTION 6373-13. Whoever, with intent to secure fi- 
 nancial gain to himself, advises and procures any person 
 to purchase any security and receive for such advice or 
 services any commission or reward from the owner or sales- 
 man thereof, without disclosing to the purchaser the fact 
 of his agency or his interest in such sale shall be liable to 
 such purchaser for the amount of his damage ‘thereby, 
 upon tender of such security to, and suit brought against, 
 such adviser, within one year subsequent to such purchase. 
 
 SECTION 6373-14. For the purpose of organizing or 
 promoting any company, or assisting in the flotation of the 
 securities of any company after organization, no issuer or 
 underwriter of such securities and no person or company 
 for or on behalf of such issuer or underwriter shall, within 
 this state, dispose or attempt to dispose of any such se- 
 curity until such commissioner shall issue his certificate as 
 provided in section 6373-16 of.the General Code,, which 
 shall not be done until, together with a filing fee of five 
 dollars there be filed with the commissioner the applica- 
 tion of such issuer or underwriter for the certificate pro- 
 vided for in section 6373-16, General Code, and, in addition 
 to the other information hereinbefore required by para- 
 graphs (a), (b), (c), and (d) of section 6373-9 of the 
 General Code, the following: 
 
 (a) A certified copy of the articles of incorporation 
 or association of the issuer, its regulations and by-laws; 
 
 (b) Certified copies of all minutes of stockholders and 
 directors relative to the issue of such securities; 
 
 (c) 
 
 retary of the issuer, showing in detail the items of cash, 
 
 A sworn statement made by the president and sec- 
 
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ek) 
 
 property, services, patents, good will and any other con- 
 sideration for which such securities have been or are to 
 be issued in payment ; 
 
 (d) Like certified copies of all contracts or agreements 
 between the issuer and any underwriter of such securities, 
 and, if disposed of by the issuer, all contracts and agree- 
 ments relative to the sale and disposition thereof; and any 
 such contracts or agreements made subsequent thereto shall 
 be filed immediately upon the execution thereof ; 
 
 (e) All contracts made between such underwriter 
 and any salesman, agent or broker. 
 
 This section shall not apply where the issuance of the 
 
 securities has been approved by the public service commis~ 
 
 sion or like body of any state of the United States or any 
 province of the Dominion of Canada, or where the sale is 
 made by or on behalf of an underwriter who, in good faith 
 and not for the purpose of avoiding the provisions of this 
 act, purchases the securities so afterward sold by him and 
 pays therefore, in cash or its equivalent, before attempting to 
 sell the same, not less than ninety per centum of the price 
 at which such securities are thereafter sold by him; nor 
 where the securities are those of a common carrier or of a 
 company organized under the laws of this state and engaged 
 principally in the business of manufacturing, transporta- 
 tion, coal-mining or quarrying, and the whole or a part of 
 the property upon which such securities are predicated is 
 located within this state; nor of a real estate or building 
 company all of whose property, upon which such securities 
 are predicated, is located in this state; nor in the case of 
 an issuer excepted under paragraph (f) of section 6373-2, 
 General Code; nor in cases where the filing of information 
 is dispensed with under the provisions of paragraphs (b), 
 (d), (e) or (f) of section 6373-10, General Code. 
 
 The information required by paragraphs (d) and (e) 
 of this section shall be for the information of the com- 
 
 Does not ap- 
 ply to certain 
 issuers. 
 
 missioner only, and shall not be disclosed by him except ~ 
 
 when lawfully required in a judicial proceeding. 
 
 SECTION 6373-15. No person or company, unless 
 licensed in the manner and under the conditions applicable 
 thereto hereinbefore provided for dealers, shall, within this 
 state deal in real estate not located in Ohio of which he is 
 not the actual and bona fide owner and unless the “commis- 
 sioner” shall issue his certificate as provided in the follow- 
 ing section, and prior to such issuance there shall, together 
 with a filing fee of five dollars, be filed with the “commis- 
 sioner’ an application for such certificate, and a written 
 statement of the applicant containing a pertinent description 
 of the real estate the sale of all or a part of which is sought 
 to be made, the nature and source of the title of the owner 
 thereto, and the amount or value and the nature of the 
 consideration paid or allowed by him therefor, it shall, 
 within this state, be unlawful. 
 
 Licensed 
 dealer only 
 may deal in 
 foreign real 
 estate. 
 
 Filing fee $5. 
 
Exceptions. 
 
 Immigration 
 bureau exempt. 
 
 Examination; 
 expense thereof 
 and itemized 
 statement. 
 
 Ten dollar 
 fee. 
 
 Certificate to 
 be issued or 
 refused within 
 thirty days. 
 
 96 
 (a) For any corporation, association or co-partner- 
 ship doing business under any name other than the name or 
 names of such person or of all the members of such asso- 
 ciation or co-partnership to sell any real estate not located 
 in Ohio. 
 
 (b) For any person or company engaged in the busi- 
 ness of dealing in real estate to sell or offer for sale any 
 such real estate, the title to which is or is represented to 
 the purchaser to be in the name of a corporation or unin- 
 corporated company, or of a eos doing business under 
 a fictitious name, 
 
 This section shall apply where the title to such prop- 
 erty is held in the name of a trustee for any corporation 
 or for any such described person or company; but it shall 
 not be deemed to prohibit the disposal by an owner of his 
 own property, in good faith and not for the purpose of 
 avoiding the provisions of this act, where the transaction 
 is not one of repeated transactions of a similar nature, 
 performed as a part of the business of dealing in real es- 
 tate; nor shall it be deemed to prohibit a railroad com- 
 pany having an immigration bureau or department from 
 advertising either directly or through its accredited rep- 
 resentatives, the fact that there are along its route lands for 
 colonization or sale; provided that such advertising be not 
 of specific tracts of real estate,, and not for the purpose of 
 avoiding the provisions of this act. 
 
 SECTION 6373-16. Said commissioner shall have power 
 to make such examination of the issuer of the securities, 
 or of the property named in the two next preceding sec- 
 tions, at any time, both before and after the issuance of the 
 certificate hereinafter provided for, as he may deem ad- 
 visable.‘ When in the discretion of the commissioner all 
 or any part of the expense of such examination should be 
 paid by the applicant for such certificate, such applicant 
 shall deposit with the commissioner such sum of money 
 as the commissioner may order, out of which said sum the 
 commissioner shall pay that portion of the expense of such 
 examination as the commissioner determines said applicant 
 should pay. The commissioner shall render to the appli- 
 cant an itemized statement of the expenditure and a proper 
 record thereof shall be kept. And if it shall appear that 
 the law has been complied with and that the business of 
 the applicant is not fraudulently conducted, and that the 
 proposed disposal of such securities or other property is 
 not on grossly unfair terms, and that the issuer or vendor 
 is solvent, upon the payment of a fee of ten dollars, the 
 commissioner shall issue his certificate to that effect, au- 
 thorizing such disposal. But if it shall not affirmatively so 
 appear he shall so notify the applicant, in writing, and of 
 his refusal to issue such certificate. Such certificate shall 
 be issued or refused within a reasonable time after the filing 
 of the application therefor, which shall be within not more 
 than 30 days from and after the applicant or certificate 
 
97 
 
 holder whose certificate has been revoked has fully com- 
 plied with all requirements of this act precedent thereto; 
 provided, that the commissoner may at any time revoke any 
 such certificate issued by him when he has reason to believe 
 that the business of the holder thereof is being fraudulently 
 conducted, or that such securities or other property are 
 being disposed of upon grossly unfair terms, or, in the case 
 of securities that the issuer thereof is insolvent. Such 
 applicant shall have the same right of review of such find- 
 ing as is given to a dealer by section 6373-8. The fee pro- 
 vided for in this section shall not be required of an appli- 
 cant who is licensed as a dealer. (106 v. 360. ) 
 
 SECTION 6373-17. Such certificate shall-recite in bold 
 type that the “commissioner” in no wise recommends such 
 securities or other property; and no person or company 
 shall advertise, in connection with the sale of such securi- 
 ties, the fact that such certificate has been issued unless 
 such advertisement also contains in bold type a copy of 
 such recital. (103 v. 743.) 
 
 SECTION 6373-18. In addition to the liability now im- 
 posed by law, any person or company that, by written or 
 printed circular, prospectus, statement or advertisement of 
 any kind, shall offer for subscription or purchase any 
 security, or receive the profits accruing from the disposal 
 of securities so advertised, shall be liable to any person 
 who, on the faith of such advertisement or document, ac- 
 quires such security, for the loss or damage sustained by 
 him by reason of any untrue statement contained therein, 
 unless stich person or company shall establish that he or 
 it had no knowledge or notice of the publication of such 
 advertisement prior to the transaction complained of, or 
 had just and reasonable grounds to believe the statements 
 
 thereof to be true. Wherever any corporation shall be so 
 
 liable, the directors thereof shall also be, under like limita- 
 tions, jointly and severally liable. Any such director, upon 
 the payment of a judgment so obtained against him, shall 
 be subrogated to the rights of the plaintiff against such 
 corporation and shall have the right of contribution for 
 the payment of such judgment, under like limitations, 
 against any of his fellow directors. Lack of reasonable 
 diligence to ascertain the fact of such publication or the 
 falsity of any statement therein contained, shall be deemed 
 to be knowledge of such publication and of the falsity of 
 _any untrue statement thereof. Any action brought against 
 such director, based upon the liabiltiy hereby imposed, shall 
 be brought within two years after the acquisition of the 
 security by any person so damaged or after payment of 
 the judgment for which contribution is sought, (103 v. 
 
 743.) 
 
 7 B&B. 
 
 Right of 
 review. 
 
 Commissioner 
 in no wise 
 recommends 
 securities 
 certificated. 
 
 Additional 
 liability. 
 
If issuer 
 be an in- 
 
 surance com- 
 
 pany, must 
 
 apply to in- 
 
 surance 
 department 
 for certifi- 
 cate in sec- 
 tion 16. 
 
 Penalt 
 
 for false 
 statement, 
 etc, 
 
 Accused 
 presumed 
 to have 
 knowledge. 
 
 Act does 
 not limit 
 other lia- 
 bility. 
 
 98 
 
 SECTION 6373-19. If the issues of such securities be 
 a company incorporated, organized or formed to make any 
 insurance named in subdivisions I and II, division III, title 
 IX of the General Code, the “‘commissioner’’, for all the 
 purposes named in sections 14 and 16 of this act, shall be 
 the superintendent of insurance of this state. In addition 
 to the powers given to, and the duties prescribed to be 
 performed by, such “commissioner”, under said sections, 
 the superintendent of insurance shall have, over any such 
 company disposing or attempting to dispose of any of its 
 securities within this state, the powers of regulation, super- 
 vision and examination conferred on him by law, with 
 reference to companies licensed to transact the business of 
 insurance within this state. (103 v. 743.) 
 
 SECTION 6373-20. Whoever knowingly makes any 
 false statement of fact in any statement or matter of in- 
 formation required by this act to be filed wtih the ‘“com- 
 missioner’, or in any advertisement, prospectus, letter, 
 circular or other document, containing an offer to dispose 
 or solicitation to purchase, or commendatory matter con- 
 cerning, such securities or real estate; with intent to aid 
 in the disposal of the same, or whoever knowingly violates 
 any of the provisions of sections 12, 14 or 15 of this act, 
 or for the purpose of aiding in the disposal of any security 
 or real estate, knowingly makes any false statement or 
 representation concerning any license or certificate issued 
 under the provisions hereof, shall be fined not less than 
 one hundred dollars nor more than five thousand dollars, 
 or imprisoned in the penitentiary not more than one year, 
 or both; and whoever violates any of the other provisions 
 of this act shall be fined not less than fifty dollars nor 
 more than one thousand dollars, or imprisoned in the 
 county jail or workhouse not more than sixty days, or 
 
 both= “(iogier 743) 
 
 SECTION 6373-21. In any prosecution brought under 
 this act, the accused shall be deemed to have had knowl- 
 edge of any matter of fact where, in the exercise of rea- 
 sonable diligence, he should, prior to the commission of 
 the offense complained of, have secured such knowledge. 
 Information and indictments under this act need not nega- 
 tive any of the exceptions enumerated in sections two, ten 
 and fourteen hereof. (103 v. 743.) 
 
 SECTION 6373-22. Nothing herein contained shall 
 limit or diminish the liability of any person or company 
 now imposed by law, or prevent the prosecution of any 
 person or company violating any of the provisions of this 
 act, for the violation of any other statute or of any other 
 provision hereof. (103 v. 743.) 
 
 SECTION 6373-23. Nothing herein contained shall be 
 so construed as to impair the obligation of prior contracts. 
 
 (103 v. 743.) 
 
 a 
 
 q 
 a 
 3 
 ‘ 
 
 Pe ee ee ee ee ee, me 
 
65 
 
 SECTION 6373-24. The superintendent of banks, as 
 “commissioner” under this act, is hereby authorized to ap- 
 point an assistant commissioner and such clerks as. are 
 actually necessary to carry out the provisions of this act 
 and to fix their salaries; such appointments and salaries to 
 be subject to the approval of the governor. Subject to the 
 supervision of such “commissioner”, the assistant commis- 
 sioner may perform all the duties imposed upon, and have 
 all the powers granted to, such “commissioner” under the 
 provisions of this act. All fees received hereunder by the frees paid into 
 “commissioner” shall be deposited by him with the treas- state treasury. 
 urer of state upon the warrant of the auditor of state. 
 (104 v. 118.) 
 
CONTENTS. 
 
 PAGE 
 
 bese U SL CIE MEMES Be cis Skene ke We eed eho Nig nh Poa nn haa 3 
 DESTIN TP CARETEN EAMG Sis SSS eke POD tara a SP 5 
 Persu paid stor SUPEriNtenGen’, 50k Gccc ee sc du eda ves Slee eae CW eee tan ord 8 
 aR eerie ns ee ge Spear rec ES oe ohare sce Sate Bh ais Se ee 9 
 TP be) Br SR Se Ne a oN a See REG hs Sete ee eee At 10 
 INNS UNE are OO oa ae act as Pe Sale eee bes Wee Uda hs OE we 16 
 re izann- and Management of Banks). i: 224. soci lrescnde al bacus We eiecey 23 
 Re raR ra Rt Mes IS I Maen SY eas Spree hens cain aioe isd 6 ows lon Sie swe BOSE 33 
 Eee iON AT ey ee ep tice Rn, eet Nhe a gan Page adie ass wooo aie WES Ralakpe nae 36 
 ee MENTE COM MAMIES a0 om otic ie Mes 2M we De ge onl oe pret ele bins 39 
 (OER SCORE ESTES ODE GOV SSB STs Se rapes oe a ae hn Se a 45 
 teenie MARCO TO oP CIISt-GOMIDAIICSS as scent as obs ceded ohenee vcd aledu dimes gru geben 46 
 SMe QUAD ADECAG et Sn ee ee gS ic took PN On eae a Mkts cabins ton 47 
 RMA oS aie Garde atin es seine ceca oda ace ee nolo he ween ace bukipeae 50 
 0 STE RI STA SS aes SS a en 67 
 Oy TS CEN SERS Seo eis ca Oi 71 
 Information to Superintendent of Insurance..............00.0ee00ee Reh hee 73 
 (SIGE SCR IN ER cha ae a ar 74 
 pe RMU ERAT IASON SS 8) estos. oak eek eck Oe as Gebduib cde tae paludese fie 
 (EE DSLR GS SUS GIES PH ESSE et Fa See 80 
 Nea OSG CUNT AIES Ses aye as ew case ea A, GOS La Rae relic tees wReD 82 
 memati alan yee atiol OTIDATICS we so0icbs.0< dea oss He cane han vaele oe been wae 83 
 eer Sh ie a EN Sea Me os Th ge ar edene 88 
 
 (101) 
 
INDEX 
 ACCOUNTS — SECTION. PAGE. 
 RNG TL Toy Seen ea Sek a aa PERRO ahaa noe WEA Sra giiteg 9770 38 
 Separate of different classes of business..................... 9740 31 
 AGENTS — 
 Se ieedemysit COMPANIES. MAY: SO ACLS c cee vc ces S se alc oases { 9773 39 
 , Py l 9817 40) 
 Appointed by superintendent to liquidate bank............... 742-2 16 
 Pipeeer EN TCImrey ener te Ae By, Sued hat a 742-13 21 
 AMENDMENTS — 
 PRO a nriCleS Ole riICOTPOLAUONs sac% t psincte cw ves Cele d odd cw oes 9743 31 
 MOmeCOC GsOteLeOItaIONG scan ce on eG hive die cn oo aoe Loc estkonnes 9709 25 
 ANNUAL ELECTION — 
 ME CTSNet Mere Me Pea tal 5 Auth aa Ed ok hha ne eis Pause e 9713 25 
 ANNUAL MEETING — 
 URNS MR Gee Ss it 5 oct Wak ale usec + TR P4 ng eee aie bees 9713 25 
 ANNUAL REPORT — 
 RIC PE PTAOEAL «BOB Yee ee pene Pegi eRe OR Oo ee Pane 743 5 
 eer tisie -COMMILLCE =e was 9 bora fs ha eae koa Moab aes 9736 30 
 APPOINTMENTS — 
 Examiners, deputies, assistants, clerks, etc................. 712 a 
 Special deputy superintendent. 2... ec. iss doce sce ce cee eves 742-2 17 
 SI SSE a eS Re es Sa A a ee 710 3 
 APPROPRIATION — 
 Pempenses and ecalaries: paid. {TOM > 5. oral oi. s kta cate aes 715 4 
 ARTICLES OF INCORPORATION — 
 Sears Np Te ues te ate ek caw bhG eG LAN soos 9743 31 
 Business must conform to powers granted................... 724 6 
 Cerincate-ot clerk, copies furnished ..%.....6 62. 650 Cae ce cae ves 9705 24 
 Perera POeC ret ALy= OF "SCALE: bc ee cords 5 lols. k die sus oe eine oie e wails 9705 24 
 PR MIEN TIS EACUIE ces gue aw «65 a7 aeionie a sein does 9706 24 
 Sy I a a aR 9703 23 
 MEE ERE STOEL ODY, Asis siete csp i sldie wia'esjy piece odov ees 9707 24 
 ASSISTANTS — 
 NIDA TERT pera WaT TYG 1172) | eR NA 712 3 
 RL SR er 716 4 
 POreO with strom bates. Festrictions. ....- 2.665. ene ee eee eee 717 4 
 Se Ee en ae ae ne Sa ae 714 3 
 Le CUP TTC EN Cf nine a tA a a 723 6 
 een Se ae Dd gene's vo vee od gece naan 713 3 
 ATTORNEY GENERAL — (See Board of Appeals.) 
 SitomeOutt THIMer GITECHON Of... 5.2 cece cee eee es genes 732 4 
 BANKING HOUSE AND LOT — 
 OO SEIS SESS 2 Ae we ere te 9753 33 
 Safe Deposit Companies....... INR grLLE adie Put rays FAL Che: 9772 39 
 Mato enaet cred cust Companies: s). 0.6.0 eka ee ee em 9816 40) 
 ee Tar thay) cs sigles ris ¥ x wih 'n, Pale ss vile a Rises A eae 9762 36 
 SN MRR RAT OG oi ticsinink eR now sig seo rye Waid ne vinreih weve eno 9774 47 
 
a 
 
 104 
 BANKS — SECTION. PAGE. 
 
 Acceptance of al Nomas dla wi enratincctetteitiomaee ease enn ee 9741 ~ 31 
 declarations; 55 5 io Ve ew ae oe a Re ead ee - 9742 31 
 
 Advertising larger capital than paid inj..24.5532. Af.) es 9745 32 
 perialty ep eee ie ta en nea eg 9746 32 
 
 Avice ef INCOPPOLANON DU yr wee ee ee en ee Cae gee Te 9703 23 
 amendment to increase or diminish powers............. 9743 31 
 businiess must.conform ton. <i. cee wits Seca ate 724 6 
 When: Name=iisleadingti sce eae hen telnc ee eee e 9706 24 
 
 Annals ees ais ee ob oss sec ee iN cro OTR ee ol nee 736 8 
 
 Authorized before transacting business....................4- 9715 26 
 When May Sbepin 271.5): orcs atten motels mene en meee ee 9716 26 
 
 Booksvand-records? open= to, sinspecion eis: site ate ee eee 9795 75 
 except deposit. and trust accounts cmt aes ance peat teen 9795 75 
 
 Borrowing <linitt,< security: .scuc <n ahs Beet eee eee 8705 76 
 
 Capital stock requirements.......... Fe ge eS ee eg ro eae 9704 23 
 ANCL EASES 5, i toes ics Oe cho ae eee ene 9725 28 
 payments: ‘books: of subscriptiet......0 ts bata ee eee 9710 25 
 POCUGION a2 Sob 2 hea oe na Ee ale ee oe ee 9726 28 
 20% anvested 1nvonerstockcy so ante nte teeta ee ee 9790 74 
 
 Certificate. to. begin business. s.. ovens 4c cae en ae See een 9722 27 
 withheld. savhenesanpedliey ec: nics a niece eee 9721 27 
 
 Gonsolidation:. 0 fucc. Sachi aane 2 oa eee § 9748 
 (sée-Gonsdlidations):<c..0.oniao eee es ep eee U 9752 32 
 
 Gontrolledsbysboard jofa directors: sa wees eee eee 9727 28 
 
 Corporate powers? 22s. £55 Sane sateen ee eee Neen ers 9708 24 
 
 Dividends;~ nets profits? -.. fast at Saath oke Eee ee 9735 29 
 
 Examination, annual by examiners... ionic. ae eae 724 6 
 made on request, expense paid how.................... 720 5a 
 Prelate ys a 6 Soe ats es Oe Rae Oe ea ae ee ee 9720 27 
 
 Exchange: of in formation ox. cey. aetecicus aeons aes ee 12898 Tk 
 
 Federalureserves-banks<eligibled mena. aes ateeee Oneness 9796-1 75 
 rights. and privileges under.:..,.01- Sat en ee oe ee 9796-2 76 
 
 Governed same-as other corporations... )ssmkiecee ao see 9714 25 
 
 TnGar poration Of es Ss Pc, ane Rehan eet cena eos eed Res 9702 23. 
 
 Information to superintendent of insurance.................. 627-2 74 
 
 Liability: of any one person, loan limit....................0. 9754 33 
 
 Tc0SSes; HOw eCOMPuteds ee recuse ck en ee ee Se ae 9735 29 
 
 Officers required to: give bond? uri ss ay Mane ene te pee 9734 29 
 atithority: tO°ans wero, law.ss ahs omic shen eae oan ae 9791 74 
 
 ( 9739 30 
 
 Organized: ‘prior -té “this “Act .isc.eac boty ore eee ee J 9741 29 3 
 
 | 9742 74.8 
 9749 22 @ 
 not reduired to inicrease-capitall stock a. .n yawn Genuine oe 9793 15 an 
 
 Regulations, how adopted or changed................000 ees 9709 25 
 
 Reports! of condition. 0ec. V0; Taek keen ee ec ee 737 9 
 
 Separate) hook sof accoirits! (i se ve ke ee ee ee 9740) 31 
 
 Thomas Act, when subject to provisions... .«...7...+s8.ie.+eses 9793 75 
 privileges available: when.) 2s.) 0. ect e en ee 9794 75 
 
 Taxation-of (stock .osiceiscac «cee te ee eee i : 67 a 
 
 Unknown. ydeposttors.2s. atin tedoc ones este ke ee ene ee 80 
 
 BILLS OF EXCHANGE — 
 Discount off oo oA ee § 9754 33 
 ? 9771 38> 
 Rate #charced™ 12a oie ie sae solo Bete oneal ore nen ae ee 9806. 79 
 BLUE SKY. LAW — 
 
 Advertisement of securities, misrepresentation............... 6373-18 97 
 copies must be filed with commissioner. +..2..: 4.4. ..05- 6373-11 93 
 must state, “not recommended by commissioner”...... 6373-17 97 
 
 Agents authorized te act.<.2nck4 Boke eee 6873-5 91 
 license amended >to. includé 7 2. ue ark <a Weta he 6373-5 91 
 
 revocation: of .authority“of.'t.:c0 + cenit agate mete 6373-5 914 
 
BLUE SKY LAW — Concluded. 
 
 Application for license, statements required in 
 for certificate, information required 
 
 105 
 
 Potiesieti tOFeIp Me Teal EStAte soos. coed ob ee se paren 
 
 when action shall be taken on 
 Applicant not bound by acts of agent, when 
 when entitled to license, temporary permit 
 
 Certificate, what must recite..... 
 
 shall be issued within specified time 
 
 Commissioner, revocation of license, when.................. 
 
 GGEENSE cI GOULL sass os see 
 
 knowledge. or any. criminal sacts. (duty... 24./5 0 ce sce ove 
 
 Corporations not for profit exemp 
 
 1S eRe ko ac os eircom Para 
 
 Deen nterir Genteds whoare dealers. ..8 co: stihienic see beos 
 “EV@KUhs wpa MUON a AY PERN AIC Tae Gece ly ORR Ae ote RU ee a 
 
 Peet MOLTO depen tie. Say ora hSah ae ohne 
 
 Fee, filing application for license. 
 annual for license and agent 
 
 TTI pPIICAtOtlat OF CEL UUICATCs saraemer setts sage easiest 
 
 foreign real estate..... 
 
 minium license, rebate, added agents, revocation...... 
 Staten theasuirer wUdeCpOSIteCiawithonatis titans wie need See woke 
 Foreign corporations, information required...........:..... 
 Insurance Companies, conditions of disposal................. 
 
 when commissioner has auth 
 Knowledge presumed ........... 
 Liability for misrepresentation an 
 soliciting without disclosing 
 PUGCEIS TNS ACE ee ENG Oe oy 
 
 OLILVs OVEi aes tern ac Be 
 
 (UAE ATL Seek heen Sarat alt Mone toae ec 
 AGENCY Sak eee eee Ae ee 
 
 License, when shall be issued, renewals Ba Nae Rc ea Riga 
 date of issue, amended to include agent................. 
 
 revocation by commissioner, 
 
 when relicensed........... 
 
 ABHOR CCH el Solletinr: nc tratre BIE Saas xe Seana un retain 
 Ficenicee,mactaned statement “ot, iSSier.) 4 ca 2. vite ee bak 
 MHITeNMINGOR sTOLS De ted wires otks asic notes a tha Wiens s be 
 Notice of amendments to license must be published.......... 
 
 of revocation of license..... 
 
 SECTION. 
 
 publication of -application for -license..a..84.5. 6.0058 6. 
 J Paved binty Suge ew hoy KSyeig 5) Rel 0010) 0 Sree A aa 
 Real estate, conveyance of exempt.............00e eee ee eens 
 
 foreign, license, etc......... 
 
 Securities, sold, under: dealer’s license... 6+. ek ea ete sees 
 
 HEbINGCeHNE opted Cui es 
 
 recommendation of by Commissioner prohibited........ 
 
 Superintendent of Banks, powers, 
 
 BEE URVCCierens. Ceah Ramee Cee Pc 
 
 BOARD OF APPEALS — (Composed of Governor, Supt. of 
 
 Banks and Atty. General) — 
 
 ' Application to on disapproval reserve banks.........+....0.- 
 Refusal of certificate to begin business............-..-+eeeee | 
 
 BOARD OF DIRECTORS — (See Di 
 BONDS — 
 
 Commeéretal Bank =...) 0.5....+: 
 First mortgage steamship........ 
 Foreign trust company deposit wi 
 
 rectors. ) 
 
 tiustate treasurers. socio 
 
 Registering, etc., by safe deposit compamies............0.e005 
 
 Safe deposit and trust companies 
 registering, transferring, etc 
 
 6373-3 
 6373-14 
 6373-15 
 6373-4 
 6373-5 
 6373-4 
 6373-17 
 6373-16 
 6373-16 
 6373-8 
 6373-6 
 6373-1 
 6373-2 
 6373-2a 
 6373-1 
 6373-16 
 6373-2 
 6373-10 
 6373-14 
 6373-3 
 6373-4 
 6373-14 
 6373-15 
 6373-5 
 6373-24 
 6373-3 
 6373-12 
 6373-19 
 6373-21 
 6373-18 
 6373-13 
 6373-22 
 6373-4 
 6373-5 
 6373-6 
 6373-5 
 6373-9 
 6373-10 
 6373-5 
 6373-7 
 6373-4 
 6373-20 
 6373-2 
 6373-15 
 6373-1 
 6373-2 
 6373-17 
 6373-24 
 
 9759 
 
 9764 
 744-3 
 
 9721 
 
 9758 
 9815 
 9778 
 9773 
 9820 
 9817 
 
 PAGE. 
 89 
 
106 
 BANKS — Concluded. SecTION. Pace. 
 
 Savings banks). 2 i 7 cea te-ste capes Dee a reas ee ee ee TI aiff 
 PESEEVE (OL ere ead a eae Se ee ee 9764 36 
 
 Trust ‘compantess oo in-3. sc¥ kansas i ae ee ee 9781 49 
 deposit ‘with state treasurer: sss. ck. ca oiota ee ieee a 9778 48 
 
 BONDS — (Official) — 
 
 Officers Of banks st 3h 22 osce wae Oe ern oe ee eee 9734 29 
 
 Special «deputy stuperintetident: ...%.. sar cierto haaleeoe ee eee 742-2 17 
 
 Superintendent; clerks; cette.) 4. 2. ae keane tae eee 716 4 
 
 BORROW — 
 
 Banks may, to *what-€xtent.\>..< e322 weet nee eae eee eee 8705 76 
 
 Départment headssand< employes.» 07d; et eee 717 4 
 
 Bictitiots: “penalty os. nce y coat 5 Sikh nee eae CPO nee eee 13184 72 
 
 Individtals, cor porations,-ete. iit akxsanie eee ee 9754 33 
 
 Offitets savings -and. loan* associations... <..0...06 2as4-see ae 9801 78 
 safe déposit. and “trust companies <3. Scaes eee 9821 Al 
 
 BUILDING AND LOAN ASSOCIATIONS — 
 Exempt iadér “Banking Acts..2 tue ss0 aoe cee ee } ret 
 q 
 Exempt under Federal Reserve Act.......i..-s0ecccessrcres 9797 76 
 CAPITAL STOCK —- 
 Advertising larger’ than paid “ii. o\n0 <>. wea. ae ..ee § T4445 12 
 ) 9745 32 
 
 Amount required for each class of banking wah ak Welceet eabeoor a 9704 23 
 
 Books" of “subseription: | 0245 cman ok te ee ee ee 9710 25 
 
 Borrawite limit on, SECurityea scones oy ace eee ata ee oan 9705 76 
 
 Delinquent Shareholders, salec ots neues ies et ataecceted 9717 26 
 application: Of apEOCeedS.a7esse eee eee ee 9718 26 
 
 Directors anust- own atleast 5 shareewer sr .« cr aneaiog pee 9731 29 
 
 Liabiltty. in default: ot anyctrists on ne duet neon ee eas 9777 48 
 
 Fifty per cent. paid in before commencing business........... 9716 26 
 certified to superintendent: c 4 harsh cee oe eee 9720 27 
 first 10%: pagment 257 7 ss: wasn Sao ele ees 9711 25 
 partial -payinterits 7% Sched, Pie Se en ee 9716 26 
 
 Impaired by cancellation of shares, duty of Supt..../........ 9719 26 
 from any cause, duty of Supt soe Dae ae eee Reon 730 He 
 failure:to»make good, duty of Supt. .4 sen nese seas eas - 731 7 
 
 Incorporated: banks: must (have. <2... A ctecwe delay aetna 9723 27 
 prior-to: this act; exémptiotic: 205s comae eae 9793 75 
 
 Th ereasecot acco ec Fas Waa eed Wace ple ee 9725 28 
 safe deposit.and trust’ compatiies*.4..<.sgss4 Peaxeek eee 9838 44 
 when not’ required. to. eraser wan hit ean aa 9793 15 
 
 Private banks not required to: have. . 4. a. «ss coon cee 744-9 13 
 
 Retitction of 5 ces ech tes oe eae ORR er a: 9726 28 
 
 Sécurity- for: rusts hee oo os ss oe ag ae en 9829 42 
 
 Shares of may not be held or pledged................ Pa rc A 9761 36 
 par. value OF sil pees ee 6 GLa gee nein ee oo ee eee ee a 9703 De 
 
 stock record: opén tocinspection =... <> sac at acr eee eee 9738 30 
 
 Taken ‘on’ debt.) Sr eek a ee ee 9761 36 
 
 Tax on shares:\(see Taxation of Banks Stocks)t) anteaters 5408 68 
 
 Tratisfer..and assignment, 7220 heat ws oe ee 9737 30 
 on“bodks oo... ccc.) Poiganee bee eee 9724 28 
 
 Twenty: percent. carried ‘to sarplus7omipeamic asc ce ue en ae 9735 29 
 
 Voted, how xe is wi waa Ses 6 Gai dis te ae eg nlc Ee 9730 29 
 
 CERTIFICATE — 
 
 To begin ‘business, when withheldic ics wean «genet sees ate Oho 27 
 private  Deriles oon CF Gi eis Soereiiwly weve eee ae a ane 744-2 10 
 publication “chce 5 ee Ae ek Be eee eee 9722 27 
 
 Foreign trust ‘compatiiese iis4.0% «oes act bo tech a ne ee 736c 8 
 
 Of superintendent to papers used in evidence..............+. 718 4 
 
 mae. git ieee 
 
 a sn 
 
107 
 
 CERTIFIED CHECKS — (See Checks.) 
 
 SECTION. PAGE. 
 
 _- CERTIFICATES OF DEPOSIT — 
 
 Maret USEIIONOE oes Sith oye e eis oc ole c'e ic can ed coe abce us 13183 
 eee RTP era Se cal ss bev asain vo ews bo > bd va dside es 9769 
 Dope emai ANSOLVCOE to c:) oo. iho orks Ge ch be cect oth ee wy 744-11 
 CHATTEL LOAN COMPANIES — 
 Mele, appointment, GUALINCATIONS. .. 05.0... eens oa cese cee 6346-2 
 PIppication under Ontay EXPiratiON Pe. ees hes neces’ 6346-2 
 iano er tise bes Named 10.) eh. kick caw ool eee. 6346-3 
 SOLE CUES ECO UM ie Crt ea nn car aeerc tier neisutssdl aco eke wes Bes 6346-3 
 PImBItineh Te CONGILIONS, VANCHY . 0% o> ~ sv cid dew escsvdves cee vc 6346-7 
 Bond of licensee, approval, renewal, action on................ 6346-2 
 Borrower, copy of Section 6346-5 furnished each............ 6346-5 
 entitledi to statementiand receipt. 2.2... 00. .ck ee. cc eee 6346-6 
 Seema pe ACTED ott oe t's fess eens RY hdc ovale e wee shee os 6346-4 
 Fees, annual to superintendent of banks..................... 6346-2 
 inspection, no charge unless loan made................. 6346-5 
 PEC PURI TS ghey. Scene aa ae oes 38 seem aie ka ote kt 6346-10 
 Interest, maximum charge, not paid in advance, how cumputed 6346-5 
 he COME VELOC X CONG Sati rain acta als CPO NG chads ens 6846-8 
 WEiCeMSCenWNOamMISEVODtALM sess, sae tides Rilo wok ee coh eek, 6346-1 
 Applicat toLomtist appointiagent:. cs ook see le ewe 6346-2 
 Pesto On etranster- OF DUSITIESS. oO. (ha., ss ae Foose ode bless 6346-8 
 CRE In a Re ee Sa a a 6346-10 
 OMEMOMCE MIA CEECA Cerise metus, See etna ds elas ieee 6346-3 
 TOR IOXGRU NOt (re 8 Rip ON ne i a ae So ct nee a a { 6346-2 
 ) 6346-8 
 Paeehioce anniid! INVEesteation, Of. 5 ..)...o sea se. eae es code woe. 6346-4. 
 PoiMclenmenCnVeCenca Tilt lysietscscerreraiae Seakhtont cateiacconte ameter 6346-2 
 business transacted wnder name. Of .4.. 0 ok ee cece ek 6346-3 
 Pa CHARICE Sie UOAIT ne Piva ie Gk sore Sw eee es 6346- 
 We Mirae NC OTe TOG aa et cade rv Gc tie Sieatie de Uc bwencs dg ea s 6346- 
 Manager must be named in application............060.00 2 eee: 6346-3 
 Pew MpeOKet sacl does NOt Apply tO. 5% 24 acerca ccs esas ceveaes 6346-5 
 Penalty for violation of any provisions of act............... 6346-8 
 Pipermiteiment Ot banks, Utes: Of 055056. F a cs ac ceo baie be chal 6346-9 
 CHECKS — 
 eet MOUNTS 10 (PAW dc cae soos vs eed sweet heen res § 744-10 
 1 13186 
 Cortigeduane noe chareed, penalty... 2000. eck e eee eves 13185 
 Pa eMC RIG TIE ENED OLY a2 c-ce ck Pica cuiss sav nse sce vce oSeeks 13186 
 Presented for payment without pass book................048 9769 
 CLEARING HOUSE ASSOCIATION — 
 Pismo eee PEINEGTIMIATION <2. cobsecls Gc soso courte cesadevies 12898 
 CLERKS — 
 MIE TUSE EE MeV OTNC UAL. oh ec cc iy bob acc ves iceiees Ole ees aye 712 
 PI Ne NA AN oie G, wnzcie a? di aioracs.wieihase"aiergie a Ridin ates 716 
 ae CS mE eORP ice sree ance Nes, Spiel aal's Noe deco b's Siphee throne «s 713 
 SME COMIPENS AiO Ot aAllOWEG. sicie crate estes aisle cere arsig alte’ se e's 723 
 HatinentOukeepusecrets, stalse. report, €tC.... neces es acces 12898 
 ET OW © Ge DATES fai, 5's soa % sic,skern olals epoite v oe eee wee ee 717 
 MR Ne eit I ee arti? ho ati pus oi sie wares idosaln e's wes oe as 713 
 
 CODE OF REGULATIONS — 
 URI VIOIN MC AMMIONOMICTIS yf lesb. cee vata soccer nee dete ewes 9709 
 
 72 
 ot 
 14 
 
 71 
 
108 
 
 COLLATERAL LOAN COMPANIES — 
 
 Capittalt ‘stock 50 atc. 2 AG sas vy in re ee 
 How loansuimade pe ines saan ate ere BSc aes eR RT fo 
 Tnstirances®. eid and Sank Nee ee eee ee 
 Memorandasof- loans: 3 tesiae ode oes oe een 
 Powers andelimitatvomses c.wceur ne Sinne cet a aarti 
 Redemption of pledgésic. nw 32s Ae wee te ee eee 
 Sale of pledges 0 5.. S.50h oes TAN els aaa Ge oe ee 
 COMMERCIAL BANKS — 
 Board of appeals, disapproval of reserve sbanksims snes ae 
 Bonds sloans and investments: vO scans oie eee ee 
 HowecartiedsOneDOOks cn ntiukests ae eee eae en 
 Capital “stock “required «1-6 ni able ae saeco 
 shares may not be held or pledged Diyircaecsae ieeesc ae 
 taken: om debts.ca.s .staavish erent Sie Phe atae a See ea eae 
 Capital and surplus, 60% in bank building................... 
 Commercial and savings bank investments.................. 
 Deposits: in-other than reserve Datiks.<. 7.5.0.5). feta sneer 
 interest allowed on, payable on demand................. 
 Discounts notemoneys DOECOWed: mc pono aatsetractte tne tee eae 
 restricted whenm.reserve low. ose sk ase oe ee eet 
 Dividends not declared when reserve low................... 
 Dividend—bearing: Securities !2> 5) s54ecck vec eee ee 
 Baability:offany: one: person, ct. aa eee cee vo ee eee 
 Boas 220 Fo | Timtts sey eo cack ars css fot re eee gece eee eta ae 
 aggregate amount on real estate security............... 
 deposits in banks: other than reserve... .220. 0... eet ssa om 
 personal or collateral security 2.2.8). pct yet | eee 
 prohibited=whensreseeves lOWsee eed eee 
 80% Ofe ValitesOTSbOnds os ate tomes oie oe aeetenean ere ee ae 
 60% of value of improved farm property............... 
 POWERS) Crnd ose okie 3G Rose ee neta te OE Orne one ae ae eee 
 Real -estatee Holdings Mekal ice cunts eek o otolnca tener ee, ne eee 
 genieral= résolution of hoards .n cre iar cerca 
 LM PLOVECmaitd sUNAMAp FO VEG aenete: Manes eerie erste a eee 
 lease vo fabank sb tulidinoteycctee dale ae eee ee ae ee 
 mortgage. note investments, limit, -).....0........6. 055. 
 mortgage on improved farm property.................- 
 ordered sold in hve weafs:4 ona ceases cae cian Se eee 
 Reserve neqitirementsoca a. oven: Rica een eee ee eae 
 depositories subject to approval of superintendent...... 
 faslure. to eStore 57s oc eae eek ac ee at ane ae 
 Superintendent may order securities sold or charged down... 
 disapproval’ reserve banks «<'.-c -4 neil es pas Na eee 
 possession for ‘failure to.restore reserve janie anon oleae 
 possession for failure to dispose of own stock........... 
 
 COMMERCIAL PAPER— 
 TI TSCOUUED Of eer aaa eal Oran ee rc age 
 
 CONSOLIDATION — 
 
 Amreementé Of 5.22555 seek, wees ceeuneset ole cle hs eta RC RC Ae 
 Assumption, of debtseand: liabilities... s.1. .1 aac sod oes nn ene 
 Capital. stock: 3. vis. 35k tke arco nnte PPI RT ORLA See 
 
 COMBITCN SS), cee acialt eae Naru nvenns Rk tet Gee ne 
 Consentsoh=stockholders:.c. os: ca ae nee oe ee 
 Creditors cre areas. oo eye se ga ee OT ee ee 
 Rees, torrhling agreement obo. aaron ence ae nee etree 
 Of ‘Companies ints asasc olee oten es Ok eee ee ee 
 Officers“ of; Companys ic ciccoie scheme ithe tec nee ROC aioe: 
 Procédutke ito xeiect? Gtk Oca moieties EE ene nee 
 Status ofscompany-aftert aivil.' cin tes ale oe eine tee 
 Transter otsassets and: liabilitves:s ). v.3 geen is cae eae 
 
 MANNEL: “OF oy. ike ae 4's ee Ue es a 
 
 SECTION. 
 
 PAGE. 
 
109 
 
 CORPORATIONS — (See Banks.) 
 
 COURTS — SECTION. PAGE. 
 Administration of trusts under direction of................. 9828 42 
 Deposits with Safe Deposit and Trust Companies............ 9818 40) 
 
 Wien le iste COMPA ie cries hele hake a oe ee eee es 9776 48 
 PoiventieatiOn: -Ol- THANSACHIONS = cc. 2.5 cd cctes vcs eelaln s ova bone ge 9792 74 
 
 DEPOSITORY LAW — 
 County Funds: 
 
 County, award not binding until security furnished...... 2722 56 
 penalty for violation of law by officials............ 2743 61 
 
 Wa EG Mine DOSILO mea COlIG arte hao hou. ice 2745 61 
 County Auditor, apportionment of interest by.......... 2737 60 
 monthly statement-of. depository to.........0...... 2738 60 
 County Commissioners, apportionment of funds......., 2719 56 
 BW een rd SOROCAR FUMGS fo) on oh owt ts ov os Sake 2718 "56 
 GOMiP rico HOA ACCOUNTS Fes. wi fa tee ena L oe eens 2740 60 
 depositories, active and inactive................... 2715 54 
 when private bank may be designated......... 2715 54 
 
 NY pPothecAtiOn Of SSECUTITIES hcsiy Gtie cot se ov eve vs 2734 59 
 PICTEAGE All ACHVE-MEDOSICSG§ sine Nac sale emerges ones 215-1 56 
 MOrithivye statements ei UrMIShed:. ss icowac oes as bec ae os 2739 60 
 MOMCCRAS IMD PORE DICSa sos gion Ser cease Sees 2716 55 
 QUEM OF DIGS. “A WAL. 55 seeing ee wit tales eae s 2717 55 
 
 PE AG VOrtIsemnenits Willett. sh lssice sive ts cited be bit eee e's 2721 56 
 GECOVEL2 ON: DONG \DYs eas tical a pea ote es ore oe 2726 57 
 ECIIOV al RO Ted ePOSIL sACHOll ts rien aa okie cr aioe ve PASM 58 
 County. a reastter.ltability Ot ies ec sees ate Unde ieee 2742 61 
 exemptctrom liability; whetiactis susie ks. scisre sae 2741 60 
 
 no responsibility in receiving checks.....°........ 2744 61 
 notice to deposit county funds, action............. 2736 59 
 office in each township to receive taxes............ 2746 61 
 
 DED OSIis = terimoralnGLeaSewO fiaisec ies, Ls sate oe aes hes 2715-1 5d 
 DIAS HeGahe to teil tLereStiomnners cee cots far 6 be eae. 2716 5d 
 HILETHEStSOle WOW. COMPULCG -. saci oe cae poe oes eae 2737 59 
 
 Hi TOs OMG AGED OSICOL Va, fies Seach tone wince oe kook ANS 54 
 made in banks outside county seat................ 2720 56 
 
 may remain three years, conditions................ 2729 58 
 removal for want of additional security............ 2730 58 
 SECM ea Pe VOLUCCALLONT Maat yy7e 00M cide Big sine 9 x lo Sct 2734 59 
 acceppedainoitew ot wndertakine.i<c) cs. esse ke ees 2732 58 
 EMDR E COMING) Men ORR (So eieeeie Cece ep den tucl af © dietedioe. ate 2288-1 77 
 ite ey tiers CONT OT -Valtlex-c. fee. fis cccr od salen nide oe jerk 2733 59 
 BElCASEROLESUDS MICU Olt rn rant ciateco ae Sidenote oe tyeeens 2735 59 
 Undertaking, acceptance of, term of award............. 2729 58 
 approval of by prosecuting attorney.............. 2726 57 
 awardaonot bindimesuntil furnished 3.00... 5.0 0.00 60. 2722 56 
 CANCellaOn pp KeleasSe OP eSUT ety im viel sssiee ja ciel « vieievete => 2724 57 
 cancellations orasurrender) when: 22°... 6 ob nse oie ee 2725 57 
 failure to execute, award withheld................ 2728 57 
 HORM CONCITI ONS eODITMA TON Srl > a ccere. » - ozs Sehecerciet te 2726 57 
 may be given in addition to securities............. 2733 59 
 STEBETENES! TORN Alyy a8 GIGI CSREES DA a MERE Re ae 2723 56 
 PEAY COED OSIC Os tet avialars iy 6:06 800» eh eed os len ey 2731 58 
 
 Municipal Funds: 
 Ordinance providing for deposits.......5. cee eneenes 4295 64. 
 (oo DRE oS Thc Ae RS Pe a ee cn at aa 4296 64 
 Bact at Tote CEPOSIES ci hove 6 ote bay oe kee Peeing ees WOE 4295 64 
 mortgage notes may be accepted as.............05. 2288-1 He 
 PURCASUITER MIS teS1VE DONG, 6 aie isis csale'e Seles were ina tis ee ee ip 4294 64 
 Municipal Sinking Fund: 
 
 Competitive bids, rate, security...... Went Fate Leeper 4515 5) 
 Proceedings must be public... 2.2... cs cece tee eee betes 4516 65 
 Reserve deposited in city treasury. ........--s ees eeeeene 1516-1 65 
 MMGDES EDOSILER Yop CNET) Cat ccm Reviey ver Quer a ease 8) 4515 65 
 
IIo 
 
 DEPOSITORY LAW — Concluded. 
 School Funds: 
 Bids, terms and conditions, rejection................... 
 competitive, bond of depository. .......0.......00:. 
 ‘Liabilityof treasurer and boardJAc2. pesca ee eee 
 Resoliution providing for deposit, limit................. 
 proceedings on adoption must be public........... 
 Security tor, fate<of interesta.. 27 to oe eee ee 
 mortgage notes may be acceptéd as! -...44.......0, 
 
 . State Funds: 
 
 Board-of deposit; how constituted =. 42, se 
 action on applications for deposits...:.....:......-. 
 application. for: deposits a2... s nba eee ee ee Sa 
 
 approval, Of 22% iin ett hoki o eenee 
 expenses Of HOw, Paid? Gut aces eee ee 
 meetings designating depositories.................. 
 
 Deposits;-appliation= tors isae ccs nth oo aoe eee 
 competitive: bids« <56.45a2scsme Site ak ere eee 
 interest-on-daity) balances =~. 5 erseee tore Garis eee 
 limit to one depository, active and inactive......... 
 thay be ‘withdrawn, when 2) 2.7 +o sere ee 
 record of shall be kept by state treasurer...:....... 
 when securities may be solds 25. A coins 1s. arene. 
 
 Tréasurer- of State, bond... sys sree ee ise 
 bids, competitive, received when................... 
 
 opened, when. and where.: ic..0.... 00.0 -5- oe 
 
 rejected? 3.4 RS Sa ee 
 bidders: award additionaletiunds sn ae ee 
 blank forms: furnitshedsfor-bond."ete-.. . ee 
 daily statement to auditor and governor........... 
 demand certificates must be filed with............. 
 depositories designated “bys... ooct-2e house eet 
 not liable: for: moneys Josts, 12). ose Cates tan aie oes 
 record of deposits .afidaccounts kept: 1.2. nee ee 
 reserve istreastty, amount kepte 2 a. ses steer 
 securities acceptable for deposits................-. 
 
 surefy“compaly Donde: ats seenuet een ene 
 
 when may pe sold bors eon een oe et eee 
 withdrawal of <depositha. - excess. cat eee 
 
 Township Funds: 
 Bond of depository, approval of trustees.............4. 
 Competitive. bids 270. Ss Seite bee erwin See nee 
 Interést .on daily hbalancescs.).. 9s bee on ease 
 Liability ofstreasurer. ahd; trustees eos. o..e ee eee 
 Proceedings must be open to public..................... 
 Resolution” of ‘trustees « /7..3... snc tee aaa ee 
 
 - DEPOSITS — 
 
 Corporation. governed. in: receiving. .:... fs. wens es eee 
 In banks other than reserve<ic5,.c ote ed ee ee 
 In*name-of two persons; how: payables... . a,1twsn seams 
 Interest may. -be-allowed'on, demand, :..- 0.0 seen 
 Moneys collected ian liquidation =: ...\.\./..7 4: =\Gsites oe gees 
 Penaltyfor receiving whenuinsolvent: .s.0..4 2. 22s eee 
 Retusal {o.“pay as agreed oii. sien Brinn sical gee oc 6 nee eee 
 Trust compaties with- state treasurero sc, sen cee 
 Unknown Me eke Lhe eo ech ne seen ge 
 
 DEPUTIES — 
 
 Appointment? -remoOvalsice is 2a. co asierel aah ner le eee 
 Bond «0s: i555. ach Magen! ocaeale hoa 9 bl pcelk ipso, «6a ee 
 Borrowing’ restrictions: st. tacest ce ticketed tee eee 
 FR POuSes Of. ccc caeshe seach ve les Staats oe cede OEE 
 Extra compensation. not allowed... , .s.cs ssl seamen seeteeeeiee 
 Salary: ic sis cys's cae create epoca Set bad be gtlede bie lacy ak eae 
 
 SECTION. Pace. 
 
 WPWorwr PCO 
 
 Ly ee att er a = Le ee ee 
 
 : 
 { 
 
DIRECTORS — 
 
 Appointment of examining committee 
 
 Authorize purchase 
 
 purchase of stocks by savings banks 
 purchase of stocks, etc., by trust companies 
 
 mortgage or collateral trust bonds LoS 
 
 O80 6 Sse OLS tee Pai eeelta’ id 6. 8k 
 
 Bond not required of as ee ee Goer rt 
 Weriameiie eon UiviGeMdG-seeres'. cokcss cise A vce cache ove code ences 
 Bins MmpOahtedttCIOreaMiZablOlio..c nccies gels woaiene Lice ea tele 
 
 NE RE fer Nan O Pies oan 6 Ske ee ka eS eec ek ek 
 
 How chosen ...... 
 
 Investment in mortgage notes approved by.................. 
 Loans and discounts, authority to make...................04. 
 Monthly meetings, number, term, powers.................... 
 
 Oath of office.:... 
 
 Prescribe terms of 
 Qualification as to 
 Quorum, majority 
 
 Dee ee sew Ape re Slee te «| ole we. 'eis).0° o eiead: oo Ra) 5.0 s 0 0, 6.0 Os ee 
 
 ECDC EM Pet Py etre ea. GRA tc a whe oe 
 BLOCKMeNESICeMCe. “CLR. pnts ce aie oe ce ee = 
 
 DW mtii dar YOUCCOM Teal ESATO. Live caccs din ons ves heb ve aes 
 eteam yea OREM MOW TNCs. ee ene cee veen sb es ed sue 
 Wa SLOAN eleCtION Ol, DFOKY 66.6 cos ans oaiv eis Ob ele hacetwce 
 
 DISCOUNTS — 
 
 Of commercial paper, bills of exchange, etc................. 
 PU eet: NOLEO WOU n.d, at. Ha LE As de oa gS wetlaicen Bou ses vote 
 
 Rate charged ..... 
 DIVIDENDS — 
 
 © OLe Ua 0 6 0.616 O16. © v6 21 ee 6 0,6 010 0 6 8 ® wr eqereje c-6,6 6. 60 5b 6 
 
 PAOGALEH ON Gar niO eS, WEIS «sti etl espe Sete RTC aS eaaks 
 
 Torcreditors. a..2 <0 
 
 ncalleds tore: . os 
 
 EARNINGS — 
 
 c/s) 9 (Oe elevate bce eo @) 9 6 9/6) o Se ea die b © wes «6 S.e 0 ©% a 6 8 
 
 MlediaHOn: ANG-GISPOSILION OL: «ca neo saccade acess vaaen teats 
 
 ELECTIONS — 
 
 Annual OTe WG NNR dee Se were, Nk a ey 
 OW ORR SSG ee SALT 5,9 er eae 2 ge a EE 
 
 EXAMINERS — 
 
 PemmIMLTCH a Feminvale to: Pain wes Sa desk ss vv da hevewn wee 
 
 BORA tc he 
 
 Expense, traveling 
 
 mie aes Mimele\ se 16) )-4)'6 18 648s fo 6] a” 9 6 mete e 0 0-0-0006 16.6 010 6 6 86 
 
 2.4 elses sl otm 2 (eltefe #6) 9-106 0 vit 9.0 be by0 ove 0.0 €10 0 © 18 0 6 #6 
 
 Pipa eOMPensAtiOn NOt AlOWEU.! » 02.6 2500-0 2 6 Ee sate sea cwies 
 Failure to keep information secret; penalty................08 
 Interest in any bank prohibited, borrowing Me Lee eee Soci 
 Me Me METMRS TOC NGAI R ecient nak = en ctly wrod eta + hives wean a ea 
 
 EXAMINATIONS — 
 
 Annual of banks.. 
 by examining 
 Books and records 
 
 LOLS TROTBIN Syme ete eee Se ae es 
 
 Gd, oR OASIS) Cn8 D6 Be a mR 8 (en 6 Ore) 60.010, @ @) 6 ONC "0 1s 6 08 Dre 6 5 ONS Be 
 
 Sea tet nts iirc cc on aE a eg geek ooo eae be BOR eee 
 Ciroucers or panks: and otherss.6 00.4 oa ede, TERE ey 
 Ho Fal TAS 9h eo I Cet RSPR a eRe 
 an GE RRS SE Ze ae ae Pe 
 sca MEME IR SS TON hr ECE Tee aacnten ieee vias sv Dato aia + aive, cients Bete 
 Special at request of stockholders and directors.............. 
 Mistretiane ais SOMCTINeNdent . 2. <0 ..cvas, es bs ota wgsle wend 
 MILO OE GROW PAU CAM coun ens i deaiiy yee wae'ely aoe ys 
 When capital REND AO tee chin Mea Oe ERE a8 
 
 When in failing or 
 
 MSO Went CONUITLOM ses tc hee piece ae fim 
 
 UMMM MM ONLOES < GOLICE wie Gig ore eiica's Ginss dies «6 4 g's) 0c’ eles Bove 
 
 Witnesses by court 
 
 Sis sips Oe wie sO. 8 a8) BistOls a) ¥. 8 eve 8 6% 0 @ 65 0.0 0b oe 6 8 9% 
 
 SECTION. PAGE. 
 
 30 
 34 
 37 
 49 
 29: 
 29 
 25 
 25 
 25 
 49 
 28 
 28 
 29 
 37 
 29 
 25 
 34 
 29 
 29 
 
 38 
 33 
 
 25 
 
 no (st) 
 om 
 
 — 
 SANSNAOODWANL OO 
 
EXAMINING COMMITTEE — SECTION. 
 APPOINTMENT st CPOLts, Oil siiseie wie ssstene sue nae eee em eee eee 9736 
 EXECUTIVE COMMITTEE — 
 Appointment, meetings, duties, powers............e.0eeeeee: 9728 
 Loans to members of, minutes of meetings.................. 9729 
 EXPENSES — 
 Department of banks sO. 053 pec acin dk oe te ee eer 715 
 COtirtInWestimatiOns' su. ccs ntecccs ae saceancce state | ee ane ee 9792 
 Liquidation, approval Of courte... %..c. eee Woke eee 742-4 
 Special examination: paid by* bank: ii.) ..--1. arate cate one ee ee 735 
 Traveling attending. meeting, \etc.'...s2. 0a. ee. oe ee 714 
 FEDERAL RESERVE — 
 Avot) depied” 262 5. asbos eae ee et RA ee 9761-1 
 IMeemiber a baniks een ho ctesb ow pisesas. one done eeu ee sce Rr eee 9796-2 
 Powers: granted: “ander. 45 = een ek eae ee ee ee 9796-3 
 FEES — 
 Anntialvotsbanics. chow, estimatedsti.ce teen eee aad 736a 
 Foreign trast companies,),.o.. 12... scan cane ae ieee ee eee 736c 
 Paid-into-state> theasuty >: asecdn » debe Le oe ee een ee 736-2 
 Payablé on or before Nov. 15th, penalty................... 736-1 
 Preliminary: examination 3s iis, ven da eras oo te oe oe 736b 
 Specials oe rei pte eee eae oa ee eee 720 
 FOREIGN CORPORATIONS — 
 Transactions limited toloaning moneys: . in os<sees enon 9796 
 FOREIGN TRUST COMPANIES — 
 Capital Stole? ciate sGovale she hohe eee en aed 9778 
 Deposit with “state: tfeasurer.; & S350. eee eee 9778 
 Fee: to transact: busifiess: in state! Ae. 32.25 Ges a eh ee 736¢ 
 Power. to loath money -ontys posh ses tacos, as tate eee re woe eae 9796 
 ‘Pransactions, voids when}. 7dcsac week anes Canin Aegean 9780 
 GOVERNOR— (See Board of Appeals) — 
 Daily statement of public funds furnished................... 330-10 
 Anntial<reports'of ;department.\, + <inssoencl: «ose ea ee ee 743 
 Appointment of superintendent, removal...................% 710 
 Anprovals of Salaerest:., caer ccie ee anna ere aca 713 
 bend: of superinzendéat: On, 32 sc Gat etc ee eee ae 716 
 HOLIDAYS — 
 Saturday afternoon, transactions legal on...............++0+ 5878 
 INTEREST — 
 Allowed: Gn=depoOsits. ovis ct was Pyke Re a ae Rs eee 9763 
 INVESTMENTS — (See Loans) — 
 Approval. of executive -cotitmitteé.. .oi2. 0s cs ante os we aoa 9728 
 (sound: rents oS. Seat ea ae Ra: oa ERE eee 9782 
 En OReLStOCK iS 55 cine eee a eeeremene Ras ae ee cnet 9790 
 Made prior:to; this acthow changed). 4))-i2b ss ss sone sialon 9744 
 SaWig@s SOCIEHES |i LS ce ea Sits as hee Spe ak eee 9811 
 Stock of. gas and electric light companies..............-.4.. 9841 
 LLIABILITY — ° 
 Ladies es ee Sac ek ace ee oR eed ON ee coe § . 742-2 
 d 9833 
 Stockholders: of- trusk]compa ties. .a ae. ke aioe eee cae eae § 9829 
 capital’ stock: in-detatult of tfust,. ccs aa ders aero ee ae L 9777 
 Total: of sone: persond.wce ccs ee el ee hie | Ase 
 
 PAGE, 
 30 
 
 28 
 29 
 
 ~“1-I-1 
 > S2 or 
 
 SS 00 00 
 
 Or 00 GOS 
 
 or 
 
 He 0 0D OT 
 
LIQUIDATION — 
 Application to enjoin 
 
 113 
 
 StIMEhIMALEN GEN beeh Seat es wee oe te ear 
 
 Ril vinasmallo Wieder ROLCCLEG sriich irik kes res cee oak oe eee 
 Ricton O feet CU helene, (kit titans ace tic ee ee 
 
 Objection... 
 
 eR eMCE SECON Winches Stk or bos ek a Re LSS 
 MMe POCO CULE) fle Ss ahyc wien eos a sed Feekelha « 
 
 Converting assets into cash, orders of court 
 
 WaeDOnit, ORAtimuUs SOGUECtEd ec. core nd Pig avo vo eo 
 
 Wividendses ooo. eee 
 
 on claims allowed after time for filing................. 
 
 uncalled for ... 
 
 Expense of, publication, approval of court................5%. 
 
 Final distribution .... 
 
 Final by agent....... 
 
 expenses of .... 
 SUHECESSU Tea. sa an 
 
 ale WAV GUE IIE CRIGEISES FX oh ae nis in nF. o 8 ace Nigw tv cw Sloss wi ahenays 
 
 Individual liability of 
 
 SLOCKMOLUCES He Beart ae Wee rine 
 
 Inventory, where filed, open to inspection.................... 
 Datice od traepointiment ,Of TeCEIVEr); 5 oiiicle ccs vce ke cle ee ewes 
 WUE Srey We ENT ow 9 6 ee ak ap eee Ia a a RA a 
 Objecsonurtovauowance Of Claim. 2.0, .0.0 ae kine os me 
 UPSD) Gal jay et 1k oO A SR 
 SFOCKMOLUEESesIN COLIN Saeco s Skialy nA fare eho te acs Sake hee 
 
 Remre INGE GT teeter fia e rt OT ion a echanass heats Ree 
 
 to superintendent of voluntary liquidation.............. 
 Possession and liquidation by superintendent................. 
 PARMAR OreLe STOLE: LESEEVE. ns ony) Cun Peo eb vie ee 
 failure after notice to dispose of own stock............. 
 grounds for, corporations, when may not............... 
 inclading private: DAUKS® 5. cokes ewe eos ep So ates 
 iAP ACI ERO Y CANI Al Gc? Su), cts ad Sev Pe erste see es 
 ditesto-cancellation-al StoCkss. <4\fne cose pe aa bores 
 non-compliance with any provision of act.............. 
 refusal to submit books and records to inspection....... 
 when in failing or insolvent condition......,........... 
 IRECELVEL ap DOMME ICH i, VACA LC Usman to as sce oom Fee ebis aioe 
 PReStuaNMtiOn -Or, DUSiNeSss “Ny. Dati. : wes cas ena ldanstaeead esa 
 Special deputy superintendent, appointment................. 
 ond, cettificate:-of appointment... 0 ..ui ce ou. cae eek 
 ASirteallecl= fOr GEPOSIES nat ciete te ine ee ee Pea ees 
 LAAN Lay CCMA TATLC LATING Ue ects Sree rse wht kare. crea dae abo aioie ouae 
 WOMItAnY: BY SEOCKIIOIDCLS 2.) iini es Se chute wh vides win ov O08 
 
 ‘LOANS — 
 
 Approvals of executive committees... s6 vik iba ee vee os ae bats 
 PROMS astockcoreete-=COMmmMerCla lank rs ann te ake «sade alte Pantieens 
 sate “deposit companies: . 2... 0s. eck! Ree he oe es 
 Sate deposit aud trust COMPANIES... Fol wees kee wap bs 
 fESteinOrtCarexsteammsnip=DOMASan Gas... crease es 
 
 UWA LTS Sel Vel Ll beeetaee paren see ter ema cats, Sia He ose oi nes coe Towa ee 
 county and municipal, bonds: fo..628 6. fos Pee 
 
 AEST RINOLECACE-StCATNISMIP se ats a eis eaveldeesiee a se wine lens 
 
 MMSE COIMI DEN LG sesm te ore cartes tp ais Sacra cots stk star esc e ance its 
 Gamo Dov TAC Gs ths WAI STOC CN cn ssieskecncant ioe Sane: a chotetieleliege Weetaberrene 
 Deposits in banks. other than reserves sa... c ee. ee tess 
 MAME ANTIOgatO stig act, GPENEG WAL. CvGi ke css viclelet ie wvlee b aseiee e's 
 Not made to-officers, savings and trust companies............ 
 enn proved. faral DLOperty. enc c ssa cee os eee ote Weta 
 Wine Densonal or. collateral “security: de. lrakirs. Slee eee oe 
 Reaimestare scommerciala hanksinn. Atworw. we lereicns Ghia! eta eet ne 
 BAPE MEDOSITECOMPARICSs ub ics chy sisin as Side vo uRm greene 
 
 safe deposit and 
 
 savings banks .. 
 
 trust companies 
 *8 B. & B 
 
 EMLIGtECOMPALICS wit ioue Gee sc attte ze arn a 
 
 SECTION. 
 742-9 
 742-3 
 742-5 
 742-8 
 742-5 
 (42-11 
 742-9 
 742-6 
 [42-7 
 742-3 
 742-16 
 742-4 
 742-16 
 742-13 
 742-14 
 742-15 
 (C2) 
 742-9 
 742-5 
 
 {. 742-10 
 1 9750 
 
 742-1 
 742-8 
 742-3 
 742-11 
 742-3 
 9747 
 742 
 9760 
 9761 
 
 9772 
 9816 
 9762 
 9774 
 
 PAGE. 
 19 
 
114 
 
 LOANS — Concluded. % SEcTION. Pace. 
 To officers and members executive committee............... 9729 29 
 Twenty per cent: limit to one person, etc., exception.......... { 9754 oo 
 
 9790 74 
 When reserve low: osc h is pire ea ee a en ea a ar 9760 35 
 
 LOAN LAW — (See Chattel Loan Companies.) 
 
 LOSSES — 
 How. computed <4 bei Pn che ea eee rene 9735 
 MEETINGS — 
 Anntial of: stockholdets 37:5 svat ae ciate Gat ae ee 9713 
 Exetutive committee’... $62.64 sack ole tyke tele at aac etal ee ee 9728 
 Monthlyof board. of directors; . S.cusone ae ee 9727 
 Stockholders to adopt or change regulations................. 9709 
 MINORS — 
 AGCOUNES SOL sib c's Seete 0 RUS ee lo is Te Oe eee ec One en 9770 
 Deposits-by, how treated). 25 tin. « ee owe ee eee ene 9800 
 MINUTES — 
 Meetings executive committee, record of loans.............. 9729 
 NAME — 
 “Banksand:. Bankers’. ‘definiedatencneniciene ten eerie seer 5407 
 Misleading: adopted by bank s..2 ie secce eee ee eee 9706 
 Unincorporated banks may not use word State in............ 9752-1 
 penalty Tek oc. bs Pa Wr ha ae oe eee nea 9752-2 
 Use of word “Bank” or “Trust Company,” etc............... 744-1 
 Use:of word “The” sand-“Bank soe Company, 2 set ones 9708a 
 NATIONAL BANKS — 
 Exchange: of ‘intormation® withiavjcohsceti am pectin ome cee 12898 
 Powers under Federal Reserve Act... ii vsessccvectes seas’ 9796-8 
 NOTICE — (See Liquidation) —. 
 Amendinent-to:reoula tions sas se.ievoodkiines sere ee ee ee 9709 
 Posting of in-bankingsroomi: ©2458. 5 eerie Oa ee eee 744-5 
 Reduction of-capitaliistock (eG asi See ee ee atten 9726 
 Sale of shares delinquent stockholders...............0.0005- 9717 
 OATH — 
 PATECOES |. iio FF ES ing FES eek eee ae ee 9732 
 Examination of bank officers sunder:s,...: ince uscienn nae ee (735 
 l 9791 
 Examination under by superintendent or examiner:......... 725 
 Supertiitendent:! Seer Rhos Sion shat a ees eee an ee ee eae 716 
 ILO" LEPOEES; Oils COMMIT OI oli a occ execs heenoers fu oe oe eaten pe emer 738 
 OFFICERS — 
 Authority to represent bank in law wc: ce a ce ee eee 9791 
 B Oi Sy Sree oars 355555 See atta soare: ere erm oa eed eRe ene ae 9734 
 Borrowing ability in savings and loan associations........... 9801 
 Courts “may-- examine. oo oe eee ok at ewes eee en eae 9792 
 Techn OL, 4 es sk oes via ok oe, ee RI eee el eer aoe 9713 
 Embezzlement, misapplication of funds...............-..04. 12473". 
 Examination underoath cance cs © we hee ct er brainer ae eee 725 
 False certification: of check,ete., .petialtys.c os ssn se ncen vem 13185 
 issued when insufficient funds, penalty..............4.. 13186 
 issued before funds on books, penalty..............2055 18187 
 Fictitious ‘borrowing, ete: ‘penalty oii o. a. > Peal enna nee ets 13184 
 
 Fraudulent and false transactions, penalty...............+.. 13183 
 
 € 
 8 
 4 
 a 
 tt 
 sj 
 ‘ 
 
OFFICERS — Concluded. SEecTIoN. PAGE. 
 Hee OO ATMA Gere tin iat) cee hore hes SUR in aed Sale ee ea Rees 9729 28 
 not made to savings and trust company officers........ 9821 4] 
 ate OL LORE DOGES Ieee ey ica boc oe calsclis ow oman he nce ee 738 9 
 Penalty for false statements to examiners................... 744-11 14 
 Receiving money when bank insolvent...................0... 13182 {al 
 Submission of books and records for inspection.............. 729 7 
 OVERDRAFTS — 
 UC TOPSITE SE 7 Tage ae eg ean 9754 33 
 ThE) OUEST ES ay Tce ee aie Oe Oe eR Chacala 9771 38 
 renee WR Ree a es. aS 25) GA chou a ss va tale digas val eae c 13186 72 
 PASS BOOK — 
 Ree cieIng. A@ANUSL SAVINGS. ACCOUNLS... . 5 mb. dc ccs ee ce saees 9769 if 
 Ritlee ale Lepulations: Printed: Ifiwc..  ceics ee wc we va cbse we ons 9798 77 
 ere RAR MPL eS rants t ASSUGier ee > sy ss Dee es bv dowe Sl vou dcdleciak bes 9768 37 
 PENALTY — (See Penal Statutes) — 
 Advertisine larger capital than paid ins...) .2...6....cseceae. 9746 32 
 Annual tee, delinquent payment-Of © ..5.. 6.6 oc. cee cee ee es 736-1 8 
 Certityine check without funds to_pay::./.... 0.0.0... ce... eas 744-10 14 
 PUREE TRE COPY Ge Fed reese nae ce eid sora Co ois. we emacs wid 728 7 
 Pixcess-meerest-or- discount Charges... 5. sbi k ieee oa lee es 9806 79 
 Failure to make report of condition on call.................. 741 9 
 Failure to furnish information to Supt. of Insurance......... 627-3 74 
 Padure.to return bank stock for taxation. 2.0.4... .60. neon ee 5414 69 
 EG) SDENV AEB CES) slg Cele cag ac Pee Ae at oe a 5672 70 
 Failure or refusal to appear and testify..................0.. 726 6 
 False statement or report of bank officials................... 744-11 15 
 Receiving commissions as agent in sale of securities......... 6373-13 94 
 Unincorporated banks using word -“State” in name........... 9752-2 33 
 Violation of law relative to unknown depositors............. 9870 82 
 Niamstion provisions Depository laws: i.c.s.e. <6 6. cas Chee 2743 61 
 Miomimon: provisions of Blue Sky” Act..2.. 0.00.06. lee 6373-20 98 
 Niolaiion provisions- Chattel Loan’ Act.; 0.0.2... cade .ess coe 6346-8 87 
 PENAL STATUTES — 
 isertincd check tatlure to: Charves. di.ec. Unik. ces ace Saas 13185 72 
 issued when insufficient funds.................e..0- 000. 13186 72 
 issued before funds to cover entered on books.......... 13187 73 
 Ghecice Manculentiy Gta wiser > ye s0 Suess ted se dea cans ered 13193-1 73 
 Beteoa tonya stalse Statements ac. sies o's ost oie & veo, cet! ainerd vo nad 13383-1 73 
 POAT Eee TRE INE SOE Ge ee ooik Datecode tne ece a os ahh G a Coe ncbrgee Yor 12478 71 
 Batlure 40 Keep Secret AMTOPMAtON: << cod ek see Seo beam las 12898 71 
 BIso- LeMmovaleinOmeolicesprviaccn Mun eaten eae ee we wekers 12899 71 
 Pale statement Or mimancial CONCILION. os.c ciese ess keen ced 13184 72 
 PICS DOETOWING “OL ATIONOY a. chess ox one ao vb a ee se oie wae ge we 13184 72 
 MiPamanient and. falsGatPansactiOnS.’. i. .4.cee ceva chee cs cteeus 13183 72 
 Teteatiar and ‘aflawitll (ransactions.....0i. cesses sce ke eae es 13187 73 
 Receiving money, checks, etc., when bank insolvent.......... 13182 71 
 PRELIMINARY EXAMINATION — 
 IB POSSU TSP ARE UGCA 24 Beye dese cep ERI Ca NEO ee 9720 27 
 a Re AB leet nc FOL G eiales 9S wos vie o-5i0 bela Nie es 736 8 
 PRIVATE BANKS — 
 REPO LIE NOE aegis sd) e 5 Np'chs ade 'e. vip ocsieia We. eiese wine ee v0 744-13 15 
 Remit loctoeri nO LECUITEH, oc i sc lk th ec Agee alee lle eee ea eeee 744 9 
 NOATISMATIC IM VESEMIONTS oe vee Gate ihitine cwieleies eee sees oe 744-9 13 
 may not advertise larger than paid in.................. 744-5 12 
 Co er ECG D4 na I 144-3 11 
 Certifying check without funds, penalty...................-- 744-10 iF 
 
 Depositors have first lien on assets......-.......005-- ee eeees 744-6 
 
116 
 PRIVATE BANKS — Concluded. SEcTION. Pace. 
 Detailed-statement: hledswheresess a ia. eee eee ie 744-2 10 
 Examinations made under: Section-/30 yan ee 744-13 15 
 Frees atin tral soo tases Sac aten ade cn ee ae 736a 8 
 preliminary must be paid before authorized............. 736b 8 
 Name; use*of word'Bank, etCcs . cuanto ee eee 744-1 32 
 use of word State, penalty SLR FP y coe os © Ue a { 9752-1 32 
 ; : ( 9752-2 33 
 Notice shall-be- posted: in banking= room... 21. fe iene eee 744-5 12 
 Officers making false statements, entries, etc., penalty........ 744-10 14 
 Possession by superintendent, grounds for................... 744-4 12 
 on failure to comply with any provision of act.......... 744-8 13 
 when in a failing or insolvent condition.......:.......:. 744-13 15 
 Pablieviunds rienttoe bid forgo. eet ee ee f 744-12 15 
 E271 54 
 Reports not required to be published....7................... 744-9 13 
 fMled=withrsuperintendent > sack ashame tea ee eee een 744-7 13 
 Hispection: O1,-hy- PUBNC is soir. « dns Dandiiesee ie ere eR 744-7 13 
 Reserve; owekeptie.c-* case ae on RO ee OLE See 744-6 13 
 agents-approved by superintendent... .<s..<..2 senses 744-6 13 
 Sectionswatithorizine certilicate=.... anc one Ase eee re 744-2 10 
 Sectionsiap plicalless 2 cen ote ete eh eee eee ee nat ee 744-9 13 
 Superintendent must be notified of change in business........ 744-5 13 
 “Unincorporated” must appear on all stationery.............. 744-6 12 
 PROFITS — 
 Flow’ ascertained, disposition of... 3.45 aioe oe eee ee eae 9735 30 
 PROXY — 
 Stock tay. belvoted Dye front sh sasalvews ok Lx Gh ee eee ae 9730 29 
 PUBLICATION — 
 Gertiiicate. to beégiit: BUSINESS oi... coms alice guired epson sch eden rena + 22 27 
 Nofice: stockholders meeting 2.2.x ck sao chow nego tran eee 9709 25 
 INOtices appointment sof necelvier ain cau dase eke eee i OT OU 22 
 IREPOLESAOL: CONG LEHONm OMsCalll er ae ces aie eee ene ee 739 9 
 of privateybanks:/ not -reqnited. = 2479. a.ue5 neers ae 744-9 13 
 PUBLIC FUNDS — 
 Depository Vlsaws.4 Si a Oe ee ees rath 50 
 Mortgage notes*securiiya Ors orm eo tate nab ere eee 2288-1 77 
 REAL ESTATE— 
 Conmmierctal batiks x. cis. eee Ca hed ewe On eRe ee a 9753 33 
 GFOUMGAPENIES® otic: Vike is % ade nkek pe SR Re ee 9782 49 
 Mortgage note security for public money..................-- 2288-1 ri 
 Sate. deposit Compan V5.4 cvcn * cee en a a ee 9772 39 
 Safe; deposit andr tests company cc cs maki eee ea eee 9816 40 
 Savin @saibatiks pane eee koe hoe ee ee 9762 36 
 Savinegssand Joair associations: o.c)..... sco ee ae 9802 78 
 PPUSEDCOMPANY 9 2%,:2 cs sn see CuRtecSiscche 4 Ger ac ctr ee ee 9774 47 
 RECEIVER — 
 Appointitent: of) whenin ccktcrice Suction den er a eae 742-10 19 
 Notice of appointment: 920555 Ae 3, G28 Be ace a 9750 22 
 RECORDS AND BOOKS— 
 Open to inspection of stockholders, except................+. 9795 75 
 REMOVAL — 
 For violation! of séetion (Torro bisa cic On 0 nae tea 712 : 
 
 Of Superintendent of Banks by Governor.............-.+5. 710 
 
REPORTS — 
 Pte core SUpenincemd Clas! 4. ces sok pee lle oy ole webets 
 ASCE eC OM Ue Gama ths ete tna cs ctcpls asa fatten a vos aed ees, 
 Weconmioneotaprivate= DANKGtinscs cents Kosh uae Toho eek 
 Oirconmd tion sO Leotate-DANKSS -S.cceces ite kee 6 bee ke Sa eee 
 Penaltyctor meclectoraretusals 2... bey) eee ee occk 
 Pe Pe UE a ete haya icin 2 artis oote hak Sek wldp rea hoe 
 RESERVE— 
 Gondimecca sapanics weaned Sete makati ant eee Wy wee a es 
 “SENT Dit ep had ON gg eae i RY ND a 
 eg eeee IMO eRe cer Pian sr ech eee tro cie de klk Nos la ete 
 Saice DevostiaandmlnitsteCGOmpaMmies.cc. a. o. 2 suet aha ee hee 
 Reiitciee Compal teswmentaitg Nery Seber moet ake eee hee he ke 
 RESERVE AGENTS — 
 PMS OUATEICI CRAP PLOW Ale cee. alc tec ee a his ivae «Sela als wives oe 
 TEN EOL ER S72) UF TE SRSTES CVS es crece Sep eae eT ok Oa ec ae 
 RESIDENCE — : 
 arene ete arsed MRC eo ws sot w OL cae ee ae ged neice 
 OHalticatonearetiCOLrpOratOLrs: sis. en casio hehe chen aes 
 tI A ASO ec Keates a oe Phir aD oes Oe 
 COPPAnin ens prmCt Cer ractcas ae esl ome Re seeehes ome 
 SAFE DEPOSIT COMPANIES — 
 Authorized to receive property for safekeeping.............. 
 SEER CES NE) 9 RSIS 7 pate A SMR i eS hcp Sa Oe Se 
 Pavestment-im bank building and ‘lot.vi6. coc. 00. a ck ee ee es 
 MER eS co CILE. »: DOMWEES ovine. ooh, s Witin b cero pecaae dee PRA 
 Secrest asec AMIE ae pois cea ots ey eas FA eee PS vs nae wane 
 SAFE DEPOSIT & TRUST COMPANIES — 
 MeROMIzat lone OFS OMICEES DY: > So nsec ses. eb ek soe se Sen Pies 
 RPO OL ete SER ER ese LR ears Poe aR hig alt anaes wae 
 esiQinneninnid transter Ole sac sh. Sack acl ie he eo clas 
 increased by preferred or common stock............... 
 paid in full before commencing business............... 
 SEC itt ever KOLAR EDU Sho meee agen Picss A ear eo oy cove o sears ena a hale 
 ren percent i one. loan of ‘Security... 0. 6. ee eee. 
 Wot PRC OR te GEN GN RAISRAL Ney Vin reeks Pn Sag Sie anew de ard grade elearpes 
 may order investigation UR Re ae CUR OAR Ne ois Mh heron MRO 
 Pr ARITA. OP ELI AS Ses code «2. oe nnd Gienae Hee Ow Oe 
 em eIOI (er eOINGILOL .OL (StALC. 55 occs cee aie vin py Also dys Se ae 
 Investment in bank building and vaults...........-.......-.. 
 in stock of gas and electric light companies.:.......... 
 eS NESS SCGS Saiy 10ed 'o n C0} Ca) ps a A Se 
 Loans, may not be made when reserve low................-- 
 IO MCU LO ROME C EIS neers A itis foveniapett cs nkevouee oyoor bi sng 
 Hired CCMCUEN ee SLATS PEM EINES tolere. «otc eresceh Soleil arco vecaleleine oo « elpeajes 
 Nereiiiieacessteamsiip DONKS. nc. seks ee ee os Pens 
 Pe MTR Rye kare Cnc pie lo wie cRNA + + > oie new ovate ay 
 [PLONWITETEGSS fF SAR Aneel OIE CCAS TOTO RAGA RE ERD are PRO CIOL Marton 
 Real estate taken on debt must. be sold.......0....... 5.00005 
 ’ Reserve requirements, dividends paid when................. 
 ter reli Creve acy ects nes Ns yale e cle a's bl mete a ewe * oct 
 MER EPA TCT ae nth ea a hw sta Ya, Sag seh ob wielche © Cg es Sei A 
 tat SEC Get l teaked CLI Cat aves ros ok cht ceros Sr asetene Iaiia) aro’ s fn ik tei whois, Stately suchen; Hrapseirs 
 Trustee, appointment, under order of court................. 
 detailed statement with state auditor................... 
 Heclana tore OmdiuiclenUso DY caves. Guede aeper-e ies Sete ldare anne 
 GOI Pre AS GSC al enact oo 
 niistatitids; snotaiminoled. with OtheD. .2cvc. ssi. sciieirese wots les 
 MRE CHIC GSN tons. ie ete Cat secu oe whe eV abie ods 
 
 RRC em BETO AT OUT IN: 4. heats Ris Alotryraatols am 0 w.eigce stole «Pree x eMar e © 
 
 SECTION. 
 
 ( 
 
 9836 
 9835 
 9816 
 9841 
 9829 
 9827 
 9821 
 9820 
 9822 
 9821 
 9841 
 9816 
 9821 
 9827 
 9829 
 9819 
 9817 
 9828 
 9834 
 9836 
 9826 
 9832 
 9831 
 9825 
 
 PAGE. 
 
SAVINGS BANKS — SECTION. PAGE. 
 
 Accounts“of “minors, - socvee reer ee mations aes 5 Saas 9770 37 
 Capital stock =. Swe ce ot od pes Oe “9704 23 
 Certificates: of deposit... G3. wa a, on ae 9769 37 
 Commercial paper; bills:of exchange; etc../c.. .1<+.5.5.eeee 9771 38 
 Deposits;” interest-O0 2 cece Sia atte ek te ae ee eee oe blo 36 
 
 term's. prescribed by boards .5 sneer sek ee eee 9767 37 
 
 Discounts not held to be money borrowed Lia MER Ce eee 9771 38 
 
 Tnvestmenits,* real sestatOsone te en ee 9762 36 
 other-:-thansreal@estate: css. ieee fe ie ee a eee ee 9765 37 
 
 Loans, 20% limit to ONE PETSOM Tc mie eole Grn. ere Ss saeemeae 9771 38 
 Teal. AStATEr hess. cee See Re Re atten i ee 9762 36 
 Recurity, O1AUIt’ ech chee chiefs eee cee ee ' 9765 37 
 
 Oveérdrafts.. included in total: liabilityc3 eerie es cana pete ee 9771 38 
 
 PASS HOOKS es aee eos Was a cts ae ee aaa Rae ea oe ae ie eee 9768 37 
 checks presented for payment without................. 9769 37 
 
 Reserve vedutrements): cA. oss 01-7 cere ae eee ae 9764 36 
 below legal Innit. cidicces ce. ck eu ee oe eee 9766 aT 
 AEDOSITOFIES 5.00 7. SY tas wa ea eae 9764 36 
 
 Superintendent may order securities sold................4-+. 9765 37 
 
 Total jiability Of: any. one person. sacs ahs oe ee ee ee 9771 38 
 
 SAVINGS & LOAN ASSOCIATIONS — 
 
 Capital stock: xe er ee er Ee eh ee ae 9704 23 
 advertisémentt-s ii... sae ae we ee See a eee 9806 79 
 distribution of; merease:<.. vo saws se oe eee 9804 78 
 
 Deposits teceived ands held: owes cen a ast eee ene 9803 78 
 DY. -TTEROES cele are po eae ees eee ope ae ee 9800 78 
 
 Discounts and interest, excess charge, penalty............... 9806 79 
 not ‘considered-money: borroweds...2,. 0-0 sesneoneen eee 9807 79 
 
 Dissolution, ‘ distribution, of; assets, oe sos ta. cee reser 9809 80 
 
 investments; limit on: difterenteclasses is. acne eee ee oe ones 9805 79 
 Ist mortgage steamship bonds..............-0+.e00++es 9813 38 
 
 Officers, borrowing limit, may not act as surety............ 9801 78 
 bonds Of Steaks oe ees 9799 78 
 
 Pass hook, what. shall-containsa.4: Acces 6 Re eee Gee 9798 77 
 
 Realeestate holdings 14:22. ee eee 9802 78 
 
 Sucpluss fund > te Se ea ae ee ae ee 9808 80 
 
 qT otal diability.of any> one. Derson.c ce ee ee eee 9807 79 
 
 SAVINGS SOCIETIES — 
 
 Charter, may continue business under original............... 9815 39 
 granted under -actsofilSOi,<ricts eek eee ea ae eee ee 9810 38 
 
 Deposits, interest, dividends, surplus Beer Car eth et A 9814 39 
 
 Investments, loans, IfErests <a seis pia Mek cra Toho Anne 9811 38 
 in bank building anid lotii4s 4S) are or eae eek aes 9812 38 
 Ist mortvage steamship bonds ic rics cos eee ne 9813 38 
 
 SEAL — 
 
 Official, of superintendent to papers as court evidence........ ; ee : 
 
 Official, of departmentin: 3.2 NES. 6..ee eee 31 4 
 
 Of corporatiOnsy4% cs). ete pew cas oes er 9708 24 
 
 SECURITIES — (see Blue Sky) 
 SPECIAL DEPUTY SUPERINTENDENT — 
 
 Appointment of;.bond, certificate |<< snncm) as sales ca ateane ee 742-2 Alf 
 STATEMENTS — (see Reports) 
 STOCKHOLDERS — 
 Annual meeting 0 iis ieee ba wi ee ee 9718 25 
 Delinquent in payment on shares subscribed..............-+ 9717 26 
 First: meeting after .orgatiization::...: <s1.sek a oe 9711 25 
 
 Individual: liability “sacs ch Pace Ue ats eee I ee ee 742-2 16 
 
or 
 
 119 
 
 STOCKHOLDERS — Concluded. 
 Liability — sate deposit companies...........0 05 i. cee eee 
 
 ESS RECOIL IING Sie chau cie Tate et olde Sea's Oke mo eos veces ave esid a hte es Ud wale 
 May inspect books except deposit and trust accounts........ 
 Regulations, vote necessary to amend.,......0.... 0.060.008. 
 Stock ledger open to inspection of......:.......... Jian Ee 
 PMNs RMON cant oh tigieiv eh vince ob Mens Hales abe sue eds 
 NN EE GROG) arsed Ske emcee wreid conte coe Ge S'eieiele etd s 
 
 STOCK LEDGER — 
 prasto titepectionol stockholders. 23. .0 6... ec. ek eden ee 
 
 STOCKS — (see Bonds and Investments) 
 SUITS — 
 
 Brougnt im name of stiperintendent. ... 0.5... wow eee eee 
 SOeCOMERE AMMO eCG. OL] DADKS che oc . eleccc soc clce wae oe ee ees 
 
 SUPERINTENDENT — (see Liquidation) 
 
 Pitta titer [OTe CONECTIES See oa eiees, f0o-c-c ox coe rhe atels clordes os cals ae 
 
 Appointed by Governor, term, removal..................000. 
 
 Appointment of examiners, deputies, etc., removal........... 
 Special’ deputy superintendent... oo... 6c. ee ae 
 
 Approval-ai reserve banks, disapproval...i¢:....0........6%% 
 
 ond. Preniiim On, Oath Of jOMICE.. le. kc cccace ke ccd eee weve ee 
 trailer Se DOTt SY Ol) CORMITION oe sc eeesc's cou cee oct ses ces wise 
 Gapial mipaired.shallsorder restored: .....0.0..3....cc0c0ss 
 
 care romdiake POO, GUty. Ol si s.ccks.. ths aes ene ess 
 Ceriimteare ascnee 1O-DeGin DUSINESS 24 coc 2e ds ek oe vee es 
 
 SO dc: SS ek ee a a ace, Se 
 Certified copy of articles of incorporation filed with......... 
 Certifed papers evidence in: court. 26... c cece eb ee dele 
 
 Charged with enforcement of Chattel Loan Law............ 
 LS DEST eS) Eh Cat a RR a A 
 OE EE ge oS BE 90 Sa er rate na aera ae 
 omen ie Po sna FE DANS 20.25 oo oo ings os by Wea ee Sa eee es 
 application to court to summon witnesses in............ 
 
 i py toces tier oath yo. 6 ook oS acl bese ne Sot 
 
 Pie METER ER Kel pos pian anew sis te eee wamea ks 
 special, requested by stockholders..................000- 
 CTU OS SS The SFT (ly yan ee aa eran ae ea 
 
 MPIOTE DREVINIIS TOLICE «=. arc boise wk oe ve coe os Seine bao 
 Waesses SUMmmMmoOned-tO LeStil yt =. cas; sabes ss cee sa eee 
 Examining committee reports filed with.................... 
 Pear yO AN DOTRIALION = =f oue hae csiskG oie ow aw oo sl Maas tyes 
 Papenses, atrending meetings, CC. 2 ioc... sc. cee eee es 
 ena COM SETS ATO Mees ape oe ee oe aI cys vs awa ata so cee ale cet 
 Failure to keep information secret, penalty................. 
 further penalty, removal from office.........-.+.++++55. 
 
 Ra eee ial ove nad owe 2 oo ve aed de a Wale hye og 
 BO OUNCE Nak eek tease tipi Ewe ant Oh woe sa De be ess 
 paid into state treasury.....6.... 1 cece eee see eg eee 
 Interest in any bank prohibited, borrowing restrictions...... 
 Member Board of Deposit public funds.................... 
 Oa PRS SS 1 7s a a a 
 pes cua AGG NI ATIOR. DY. ke ns y0ires sis her et eee olen es 
 PAM IoeT OMNCSTOGETOSEL VE. rota. ime lscatnaeet oe eosin cael dane 
 
 failure of bank to dispose of own stock............... - 
 
 eT A BEGTIGG LOR. ce tints apue wn wires ve wales vy ee 
 
 impairment of capital stock...... io are Gy yp eae Ae 
 due to cancellation of BEOCK Arner pores s cay sive os 
 non-compliance with any provision of Act............ 
 
 SECTION. 
 9833 
 9829 
 9795 
 9709 
 9738 
 9747 
 9730 
 
 Pace. 
 
 CO 
 
 30 
 
120 
 
 SUPERINTENDENT — Concluded. 5 Section. Pace. 
 
 refusal to submit records to inspection......... Laan oe 929 ea, 
 
 when in failing and insolvent condition................ 744-13 15 
 
 Private Banks, certificate granted when..................... 744-3 11 
 discretion of in making public any reports............. 744-7 13 4 
 notice of any change must be given to.............../. 744-5 12 4 
 reserve banks subject to approval of................... 744-6 13 2 
 special-examination..of, made when..«s,0% 4...0sanwaceeunes 72% 6 7 
 REPOLts ton sb DANS a wio eer e ee ace Sar ieee areal trae PB he 9 y 
 special: may. be -called® for, -when’--. 52. 5st Bere 740 9 ‘ 
 Dalany Of). AMONG <5. fea iat etree Ome tie es ae renee 2250 5 ‘* 
 payable. semi-annually. 2556s ee ae ee yout eeOo 5 5. 
 Salaries‘ oF -appointees: fixed -py- vice, dea thet cae, oe 713 3 i 
 Seal sai See soos ine a SE OR ne Oe a ee eee 31 4 . 
 Securities, may require charged down or sold.............. 9758e 34 3 
 may beordeted sold atic ccascoeate sacle ge ieee ree eae 9765 37 i 
 changesot, removals or-ex tensions sais vere eee 9744 32 4 
 Saits Droge nt Pyro ake set a ee ee PO eee ae ee 732 4 f 
 to: collect annual “Teegs.z.0 sc stein ewes cs eee is Sees 736-1 8 E 
 to colldch penalties os, 3s ane Seton ae kee eee 9746 32 4 
 SUPERINTENDENT OF INSURANCE — : 
 AU DOCIY: Obes Sone hie a eh Oey Tote hee wees ee tee eas 627-1 73 j 
 Dtitysor banks). sc ak oi sks Re oe eae 627-2 74 } 
 Penalty for ‘refusal to give information. 3.26/20; 6.c¢u.8. 004 627-3 74 | 
 SURPLUS — ‘ 
 Plow: createdk: ¢ wad = 2 2k, Oo ee a Ps eed a a 9735 29 4 
 Sananes societies <2 oisU\.au.eeih otis Ghee ee meee eee ee 9814 39 ; 
 TAXATION OF BANK STOCK — : 
 Bankstandvbankerssdenired? ios. o. ee he ke oe 5407 67 $ 
 Capital stock, shares listed and taxed, where................ 5408 68 F 
 certrhicate. of <value: of shanesss.ccalacsoecl asic neers cote 5620 70 i 
 increase. on decrease. Of Value’ va aecmuen Sei pee meets 5619 70 
 lien on shares by bank for taxes advanced............ 5673 70 Be 
 penalty: for fatlare: to pay ofa X ca eatie cee soy ocr oe ee 5672 70 q 
 Comnty-duditoretixées-vahues<)o..:.cuingeodes aos tar uas calnah iy aoe 5412 68 BS 
 tatliine: to make Teturn ands oe ss Roa ae ee de tet 5413 69 i 
 DOHANLY:. 60a Re eer Ae ae, eh se SAR 5414 69 4 
 List of stockholders: open: to: inspection... i ac... ne eet 5410 68 
 Report of county auditor to tax commission................ 5617 69 a 
 when “examined “bys sys. tases aoe od eee ore eee 5618 69 5 
 IREviews Dyed xs) COMMISSION. sacar ea se ae Cee 5621 70 4 
 Realsestaterta xed? 2S 5 OSS OS RO, Ps a ie cara Naan ee 5409 68 i 
 Returns by- cashier to .coulity auditors AG. wi oe eee 5411 68 4 
 Taxing authorities have no inquisitorial powers............. 5624-13 69 , 
 i 
 F; 
 TITLE GUARANTY & TRUST COMPANY — 3 
 Capital «stocks required Se eas: cle Re aera ara ee oe 9851 46 iq 
 Deposits with sstates tkeasurereinca. yes ions eat Re ee ee uae 9851 46 ; 
 Stubstitiition= Of: SCCULIITES raat acces taconite na eer eee 9852 47 1 
 Surrendéerioteatly> OxeGess.m.e oa Satan eek ane ee 9854 47 t 
 Laws “governing: occa anche See DC ante ie 9855 47 ¥ 
 Operations ‘limited *.:) 7 7280 a TLR os eae egr te eee ee 9853 47 ~% 
 PO WEES. Se LEV ohn whee bl ebahiee a! ny Bact ato ah meena ection alee orate a 9850 46 ql 
 REPOS tO KAUdifOTr >: say a wee eee ae ee ea ee 9856 47 3 
 TRUST COMPANY — q 
 Capital,,stock required. 5c -s cv one Cee ae ee oe 9704 23 
 Gourt ‘may order investigation of. trust 4.2.0, eo eens 9792 74 
 Deposits: by order .of “cotirt). - face SS ete ee 9776 48 
 collection, interest, withdrawals... i.) Apoyo ees we 9779 48 
 
bag 
 
 TRUST COMPANY — Concluded. Section. Pace. 
 WOansealae tr vestmentsy SECUrITICS fi. fo. sheen. oon cee ul. 9781 49 
 LiFORD AUG INDUE “og OFS te ote CHONG rae ae RRO y AEC ee 9782 49 
 EAMES TALC Bhs tse has CSS, oro SPO rie Re ET PR Re 9774 47 
 CAS TATSETNELD, BOVOT SS (Real ace ENS nee ae Oar in a ae eC 9784 49 
 EEF LS co cn tate ee ro a 9785 49 
 a ae ere COUIONT elitr csc Sirs ace ee Sie asie debe sicee wks 9783 49 
 a acenemitay Nano Wee oil lara al atc hbase casper adhe cokers ie ets 9792 74 
 1B YUH ETERS SE IS ico Canc MRE ERE oT nee ashe ea 9775 AT 
 “PASTE anc trio eich oO te eRe CRE hn ca 9787 50 
 Superintendent may order securities sold................... 9781 48 
 PAIS AG ONG I NI acim: ay. OlGe=- Wi llCTs yack tos ok a reinet Sark wciee wine 9780 48 
 drusecdepartnent kept separatevand- apart. ..05 ec. ch coe. 9786 50 
 MSPUSHe LULL Goa Ove aM ACCU ete. hte wiesoaia anak Ava kecdoalat ea bas 9788 50 
 TOMA LEROLMOUGteLE Dt Gen pulcusces Meneame wine athe kane 9789 50 
 UNKNOWN DEPOSITORS — 
 Painalecdse postions? GePGSItS: pairs sess cata ns hae Seta ae ake 9868 81 
 Peal perctaranure. te comply with law. ooo. e saa. vans eke ees 9870) 82 
 Permanent record in office of probate judge................. 9866 81 
 ECOL GIN OM COS en MRT ORE eT ee aed regis ote: High S oreiettn a rate 9867 8] 
 (RST yal ETS a IMC FST ac ange oan ea lS OM a 9869 81 
 REeport-to- propates mdse canirnally oy ccs. teases etek de erh wont 9864 80 
 Who considered “Unknown Depositors,” when.............. 9865 80 
 
 WVIAGCGANGY, — 
 Ee NOALGsOi: CILECLOLS: HOW -ILeGs ia. cn othe ss ened hte 9733 29 
 
INDEX BY SECTIONS. 
 SECTION. PAGE. SECTION. 
 CT bp Ee ROS Wer ee aN S Me Ry ee PP sete 
 SSC CON re to ie ties fae a BO. > TO Clore ee oe ee oe 
 RRS amet te Bite inca ek SRE oe Pe eee ie! Sms 
 Bai SS ers seen cee pene Bc.) WAG ns oe ree ee 
 BOM te tik derate me eAN op Pceg Eh seen? = ease Pn ete) Se Stace 
 Baratae (otter ah vane seihee BY = Das ee ce ge oe ae 
 Bie el pet te eae eae Be PPA OC ie Se ee nae oe 
 SOP A Sa ee eS Bis ta SADIE noe eee ies Gene eo 
 BOR goo ye Haan yeas 1h oes Bd ESS ie es en em 
 AS ack SOE eae Mev SO Mmoeay / OF Neate eis Nike ool athens 
 ok a RR a TonOp at Saed BO 6 TAD 10s. ake are ere eae 
 IO uae ore EOE aa area a emer Co ei eames Me ag eie Se Ste 
 CTE Diab Shae aaron as. BO. 3 94D 19 5 eee eee 
 Dee eRe peepee rot Mee. A Cee ee on torre OD Or 
 Ph seed es eee 505 SYA td 2 Se ed is ee 
 Gated Ce 8 hie ol ae BB. G40 18 Nea ee cg See 
 Bote eco et. | eran eee 5S ~ “GAO 167) ee ag eto 
 Ley LP AOR SO EOE BERR el: ae Ba <7. Pk “at coe aca eae ot ai 
 BAT Aehy  n oeae eee ee REY peu eee ait on ye 
 Bate B Cott: ca Acca eee NE es Ba. FRA ee eee eee 
 (OE prea alts So ae oe te CR a ree VB ea i ae are sre 
 TSA pear rae Waco Ste a eae oe eRe Kat rs ooh cos oe 
 MAL coe a te BAS AAS oe ee ee ae eae 
 RNAS Beas eee ee CEE? = anes ae pero ett = S* S, 
 yo ek meee Nr URES ee 4 OPM”, Ue ee 
 re Ge ek eek akg heroics hee 1, Ua ar) Oy Sa ae Si es Ah = 
 CO LIREE A a < eae ea ed a8 Oe NEN 8 ened Bo Gh ones eee 
 AT pin keen, BRAS en en ce eee 
 fia Cage) Spica RRR Foes oc BARAT Onc rie ane ee eae 
 ete ee es ee Bie PARTS ae Sa Rae igo eee 
 DERE ee ae SOE RNS it lots 2 BOE pg oes. 5 oS ane ee ee 
 Gielen er: 6. eae here ee VERO VRC Vn tae ee. 
 ti 8 amano eta A di OBR | ay eee 
 TEES ee aed eo tte i | ene A Rie 
 TS ah aE Sg A’ DORE! on ie ea eager ee 
 1A Se ee Spin BARS O aaae SEES Ao: ARTE te ee ee ae 
 Rete «ete ae, ee PA VALS Rape oie pine ese SS 
 (Lr rein, Ne GEE ERT ORE I Reamer Ripe ce 
 WN ee eee Se 6. OUT 
 ph otek A a aaa IRE 6 DUIS eS oe eee 
 LETRA E> MOR a ae aa 6. OR19 i eae eee 
 Eee ees oe ee ee aS 6°. (ONBO™ 2: iach ae eee are 
 FEL SAE Re SES Es Sse Re Clee etre yi be 
 OR cee hs Rea ee es CD fee en Sa See 
 Ue ea ER a Ae ay RP Ree RA) oc 
 1 EERE MOR ema t+ 2S EE) a ME EN 5: 
 Hote oa, 1 aS oe BE 1p Oa rN Ghee eS 
 ee, Oe a. i eee A TRG. ,  dae  en ee ee 
 Pemeees oie Shi o, che, he ene Bs, (2787. nc a 
 WSR. amit, Se ee 9 OTOR a ee 
 BAG iS ce ie ey, ee M ONOG s,s, cae ace eee 
 (GL Aa tere ste MRC ote AC D780 0. cy 
 TERRES i ol og teen teeth Ss ORI! aw eee 
 Le ee A SE Soe IO Oe (7 OM RT Rea ie 
 AOS Css ca eee ag ye 9 SO78R ee 
 ERE ARAN 3 OOO ES Oe 9. Ugh te ae aa 
 OD ig fects os ee ie 9 DSi As acdsee ee 
 CRANES aie lcleipee Gone nae > = 0. 9786-2. 5c 
 Ue 2 eo eee eee 9. O7B7- vr. aya eee eee 
 
123 
 
 SECTION. PAGE. 
 EPrints weet ao iiteae Leia aie 6S 5 ach 60 
 SE ae Oi ee ee 60 
 | ae Se IOS I Se a a 60 
 (EL RCE Ree RN Sa tn era 60 
 ert iree ete hore Ke Po ates o's « 60 
 Mem N OCT Sop cian SE GUE cae ha vs + « 61 
 ol Ri 2S A tae Fae a > 61 
 LAL Oe are ae acts Bo ea ae gee 61 
 Pear BAe dione Saas woe x eles 61 
 ae ae eae FP rant can ececdcs thw poe nse 5) + 62 
 Tau RR RR a oon a Se ee aC 62 
 “Le EP eRe eel: ee eee ar a 62 
 ODES A Sigg oF ce ie nia ea 62 
 We SRO Aa tote chee toe pstorsroidvens io 2 = 63 
 2 EL SB os a A te ee ae 63 
 PP eae S ae Sanh do 5° tarsi Cece s,s 63 
 Ree cere tari. Pee ui Me sie o gohan 63 
 sic) oan ee Oe apie Rae ee mee aan 64 
 © SSE ONES eg a PI 64 
 ey ears clue eae eae oS S te 64 
 Belge etek 8G ek Ps ink Tas 65 
 SR oh Aine EEO deed ae 65 
 Pe Rare nS ee sk so hdls Ssh 3's 65 
 PIO elitist eadid Point arte ee< ae Cc ee 67 
 Be ee Rate Danson wisn oe es Sede os 68 
 NNR ra os Fale als. Sp srs Soe oye ass 68 
 EL 3 RR ee 68 
 aM oetels Sito ska: Asie e ede ena sees 68 
 1S Fes ae ORC ae, cana Sol 68 
 ete Snes Sa URE ieee al 9 ont os BY 69 
 Meee Mieharnes instr Se Cees hate we apwcchey « 69 
 Pere Erect en tanihe Se ara pal ne oe TS 5 69 
 EROS CAS er eee ets chains aes 69 
 RE ees ahs wae tad oe ek S 70 
 8 CONSE RAE cg eR pa aE 70 
 OOA Bois mee PE ice pie a SO Oe te gee 70 
 © LESS SENT POI lS AE Gere oa 69 
 NEAT ET apes NE Ghana, so» 70 
 OAR c On ain eee N ai ais Bl Sine a Fs 70 
 MPO: Ag ost oa Seat yuo ters inc of one's (W' 
 SUR RS RRS ing Caan age meas 83 
 RABE Ss ashe er bak rat eee fate 83_ 
 LAO SDA ak eae 84 
 EE as Rede pt Pb oe Bess 85 
 a aa Rare Ae a Wts os ks gems: 85 
 DM te Se mae Se ose fo aid Saas 86 
 ee ey poke ate can 86 
 Ds ccs g ots Slay seh Sf aie * 87 
 a eee ea for Sea's neat. 87 
 CENT 1) OS Gap i See OR ae 87 
 MPa Rites wince Ph iisigs Salas cove 88 
 Co ne ONS eg Poe a Ee a 88 
 ios ni Cite once sors aes 89 
 ee et tone ka ce leew eee 90 
 i a aaa Be nie 91 
 SM RRER NEN Pant Pc 7 neces eee: 91 
 MO de rdcata niet RCTs oo x 50 Mw ve 08 91 
 (TE es SER es 91 
 RMR emre RRC Yt AE) ita gv a x os 92 
 TOE DENSE CAS OP a oa aera 93 
 ° lyoot  Dee ioe a ee 93 
 igo te SUE E SSCS S SORES VO arg ga 93 
 SPIN cin bevel dicks e's o.e e ¥ 0p 94 
 DS pale Ae Si ea 94 
 Re ar ae Rate Meee oa sinse oak 95 
 (OSS a a Se a 96 
 SE OEE ES irdi ec Emr tov ewe 97 
 
 SECTION. PAGE, 
 DOV OGIOS i eae ton $0 dete SAREE 97 
 AIG se US SRR CRE Ren Reape 98 
 NG SRD oe BEHRENS Ge er SNe Sse 2 98 
 SE CN OS PRR tN oe antanet 4 98 
 TS LY ens ee Seip a ied eg eae 5 OE 98 
 PE Nor Ne oe A EEE 98 
 Rel cade Gal Se ss soe he no aS 99 
 Maio neta tare «i, alt sires: see 66 
 OU Mar ean reulavinecir vcs ccee cal tea me 66 
 Acs ORGY, ale © eer ar nena eR ae ros Sob 66 
 Eee a ate Aided Ar nee 66 
 DONO Rectan einer Ha Eco eee 67 
 | SUB SS AS Ce SRD eee rp mRO At 67 
 BUDO Sa R Son Sie NolSinch 2 cbuabnor Rae a Om 76 
 TO td Se eee LRA EN ar eae APT 23 
 Serenata inlay Bric 2 ks on 23 
 CI SOEY "Og POR Aare See ae CE SY 23 
 ELS A Rt a APO Eesee OPP PES 24 
 = 1TTSL SH a a ae Re IR AR i 24 
 DOM aes ares iss Sate Rae Ee 24 
 Ea aed Sethe a ation: ckrie scion, See oe ee 24 
 LIST aod oe Sg ho ap RA aa 25 
 «LA Boot SRR IR COE Sw ane Ce cea 25 
 Sele tenance Ai. baldscs tans 25 
 Deemed er s Od Os ate nce wi cil e Revnne tee 25 
 Pile Mamie tage eecre Tip ooo et aeet 25 
 GEN EE SRN ALE te ree ort Me HOM, 25 
 Gy eH xo FEY Soo ct aco anal Ree Co PaO 26 
 SA GUUS. Ae eS RE aR an OR at ae AGS Pa 26 
 Eee ars See Pete a AAS 26 
 idl naete rad HB seer ar so hee ee 26 
 A AS RIE gE Te Eas 26 
 CR CMe Sects DAS paige aes ote fae 27 
 Ean. a Melee Mann Moe + cee 27 
 Ba eS Sorte allow Bip ie HE 8 27 
 RRR e a ett te Ie 2 alee PH ee eee 27 
 A pe Rant Pon ee OP we neath PER ae PES © 28 
 Le RAE Pian ap Re Ie a 28 
 LU ren Nein eh Oe REY oe tne Ba eae 28 
 Sela evan kets Pass oe NS aah eed a 28 
 Leelee pce 5 Sk ae ea recrer ane eR te 28 
 ere eal a ate MO Se hail gee 28 
 GOIN Se orate tata adore yy ctrl ons bans 29 
 DiS eee eae co uehe Cone name R A ot, 5 Sede 29 . 
 at fay hee war res bald chaos 29 
 Si gehen Nad cade fists sae a 2 oG cents tea 29 
 CEO RETA Ss MT kee ot ol LM eC 29 
 TA ee A A SOM ED ogee Tw 29 
 ME gr Oa ea AR ee ER AORT Det 30 
 (a Se re ee en nar tar Ca eere: att 30 
 Dt erdiPone: acs oa es sere phe eee 30 
 SS nae aepribyerr rire paar ete eerie ee 30 
 SA, * ittct aap dale alge s Sor eae Maer 31 
 1 ae NE Pg trong Pr te iat peg er Rhee 31 
 LARS Foe eo Oe POL ROLE EES 31 
 ier niet Ateneo CCR a ae aD 31 
 Dei Genie Bree do graty che he ee Ce 32 
 Peek ae Mar cad ares < opechiere NS 32 
 Piet eres YS: Vly vows abate 32 
 CR ane aad coer aiiemk pd beeas 22 
 DEN Ra tet Part sce estan a. git sich ata ae 32 
 CORN ite R Re aN ale ce ake ee oa 22 
 AI ial s 29 cle ten Yaka ee a ee OR 22 
 Tee had aint hre neta cde neu eee 32 
 Ditiec td Fie vincve thru va ed whos id ce Katee ae 32 
 i? Ee ae eas Cag re eae eae 33 
 Tee ar ale Rae a ke viak Ot CC ale 33 
 
124 
 SECTION. ; PAGE. ~— SECTION. PAGE. 
 OUEST le ee i a Oi ieee oat eg 8 aya toll Wf GUE te AE ans he aN ee aA SE 40 
 ORIG Sern Hater ec eee 34 OT Bias anata lacie RAN ee eee eae 40) 
 OE Ou s eitarsee oe Soca cee te hohe eee 34 O819E 4. Nica ee a eee eae 40 
 OTs iin pene ote a Hee neat ne ts ke or 34 UTS PA | eae ea Rr ate aeons ere | 40 
 UL oak ee Coie ce ERE he cen sueas A a ota 34 OBO Uren Wee ears eee oe ee 4l 
 SETS eon he eRe EE SE Ne UNE AR ta 35 OS 2B Hs i 555 Ee a ee ee ree 41 
 VG OR ea poe are einteng aioli ves eu eere eke 35 1s RN Rte tie Misery eee) A Aur 4] 
 OG icet oun ech eect eats bse Mace Dns 36 QB Oa t=. Son lve acs eee eae ede 41 
 G2 ter SUC saath Game RES 36 ORR Nie: Renae oe, a a ne peas 42 
 GOB sem a ear teet Seoeee ete CR RS 36 O82 OMe Gar a ee eda tarot eaemeaee 42 
 DUOLSEN tet e Oe ORe ceeen ROC alee 36 OBO Ss La, leilees et ol eee ee ie ee 42 
 ORO Hs acre cir ho ne ae 37 B28 5. ES air | eae eet ene 42 
 OO Bae tant tos Rae’ sgeite mien seer ok area En Cs 37 ORDO is scat SORE eaten, ony gta 42 
 AG ee eRe p ae Sos tC ae Palaces nes 37 ORS 0 as Pen te iee Tac een a 43 
 CAG RIN ae eae. Berean Pee 37 O83 toa Rate ce eat an RT oe 43 
 OBO ae Rin tres Se avn hyo eee 37 es Pea nai ALMA IMR Deer eaten ca ths § 43 
 DER ee tS acces CNN, Nae a crt Age nt 38 BBR ks vxtkle ae eo OEE eee 43 
 AER oa as tai ay aaNet an 38 ORB 4. ae pick Sees ROSE See ee 43 
 UTA ance sear Penta tee Aa Uwe aie Tanner th 5-8 39 OSB Bere ov tases eh a ee ae 43 
 DES RR. Hey Reces aie celyee a beeen are 39 so lctole amar any GMM ies Nea, ANE oe Oo oat 44 
 SR SN ee Ml tate Ae RTE 47 QRS TAL cae Pa oe Ra Ree ee 44 
 TUBS ea Rs Oe Nae AP gS RURENY gk is oP Reta 47 OBB Re ut seca aaitay arate NRT oe es 44 
 OLN cians Siete Corer epen see Bek MOP Bereta) Seip dats 48 D830! nites cutee katona oe 44 
 EW ete RSS Reaterk GON Pa RESETS ATAPI ee 48 OBLO Snir, See acter wee ee nae 44 
 OIC aoe: ihr othe en pe Se 48 QB Tinh, Sate Oe Sao geet test 44 
 OHA lak Obata Gas ey rater nat sie bate at tste es 48 O842 oo eas Paneat se paee ee sere 45 
 SU Fpol Scena Ra JPN ahs wh UE a 48 DRA ic itvn faeces tek ta tts Bae Det one 45 
 OSE Ree cichatect tes macs Cae CAR eA corer 49 Lo ata ene ves ASRS pK Ft era 45 
 OSB or Bier ess hes See RRO es a eee 49 A Lot LN EN AT Geet DO Rede eek Soke A 45 
 LU (fo a Yok ac ARCA a, Sra ne ae Re 49 OSA.G: 5 ok Hite ats ace Bo hae there a a eee eee 45 
 OSA RR a stra tertile ROL ak aoe Asante es 49 BA Toes Pe AL ee pate Te rae Cem 46 
 NASD a esc ttirioe es hota Sa Las aoe OP are 49 QAR sah aos a yet eens an gee aren 46 
 A lo 0 oP abet ena SO it SRA oe RS 50 DSA Oe 3°57 Sen ee nie oie aS 46 
 Seen We UC en ak Rat ee ee CY Cee cee 50 O85 Olanes Seats UL ee Re ee Ee 46 
 OES anos, © einen, faagos lr mene ee 50 Lota Be Sonia treet eters NALS See fee Oey 46 
 DUISORRAB SD ces ope ake oR Re 50 1c Beles Haranat ile ee Mee iN ee NT bee a 47 
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