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Securities shall be held for the redemption of bills.
All notes returned to Auditor shall be destroyed.
Mutilated notes received and good ones delivered.
Sec. 26. The securities to be deposited with the Auditor of State, in trust, by any association or banker, shall be held by him exclusively for the redemption of the bills or notes of such bank, put in circulation as money, until the same are paid and
returned to the Auditor of State, as provided in this act; but Secarities may be the Auditor of State may assign said securities to said associa
tion or banker transferring the same, upon receiving therefor equivalent securities, or an equivalent amount in circulating notes issued by such bank, as provided in section twenty-five of this act.
Sec. 27. All circulating notes of banks or banking associations, returned to the Auditor of State, shall be destroyed by him in presence of the Governor and an authorized officer of the bank, after he shall have made a record of the same, which shall specify the number of each note, its date, and by whom it was countersigned, in the books to be kept by himself for registering circulating notes.
SEC. 28. It shall be the duty of the Auditor of State to receive mutilated circulating notes issued by him, and, after making a record of them, their denomination and amount, to deliver, in lieu thereof, circulating notes to the same amount.
Sec. 29. The bills or notes of any bank or banking association shall be at all times, received by the same in payment of all debts [due] to such bank or banking association.
Sec. 30. If the declared capital of any banking association shall be reduced for any purpose whatever, while any debts of the association remain unsatisfied, no dividend or profits in the shares of the capital stock of the association shall thereafter be made, until the deficit of the capital shall be made good, either by subscription of the shareholders, or out of the subsequent accruing profits of the association; and, if it shall appear that any such dividends have been made, it shall be the duty of any Judge of the District Court of the county in which said bank is located, on application of any person in interest, to make the necessary orders and decrees for the closing of the affairs of the association, and distribute its property and effects among is cred
itors and shareholders. Officers putting Sec. 31. The officers or agents of any banking association or bilis not authentir banker, who shall pay out, to be put in circulation as money in
this State, any bill, note, certificate of deposit, or other paper Laving the similitude of a bank note, knowing the same to have
Bank shall receive its own bills.
If capital stock is reduced no dividend shall be made.
ized deemed guilty of a misdemeanor.
been issued otherwise than by the authority of this or any other State of the United States, or the Congress of the United States, or of the British Possessions, shall, for each offense, upon conviction thereof, be adjudged guilty of a misdemeanor, and shall be punished by fine of not less than one hundred dollars, or by not less than three nor more than twelve months imprisonment, or both by fine and imprisonment.
Sec. 32. Such bank or banking association may demand, and may receive rates receive, for loans on real and personal security, or for notes, bills or other evidences of debts discounted, such rates of interest as may be agreed upon by the parties, subject, however, to general laws regulating and fixing the rate of interest-and it shall be lawful to receive the interest in advance, according to the ordinary usage of banking institutions--and in general do all things and have all the privileges incident to banking associations or corporations.
SEC. 33. Every bank or banking association shall, on the first Bankery report Monday of January, April, July and October, in every year, after having commenced the business of banking as provided in this act, make and transmit to the Auditor of State a report, which shall be made on oath of the president and cashier, and shall contain a true statement of the following items, on the mornings of the first Monday of January, April, July and October, before any business of that day: Loans and discounts ; What report bhall over drafts due from banks; due from directors of said banks ; real estate ; specio; cash items; stock and promissory notes; bills of solvent banks; bills of suspended banks; loss; expense account; capital; circulation; amount due to depositers on demand ; amount due, not included under either of the above heads. And it shall be the duty of the Auditor of State to col- Auditor shall
pubiish report late and publish said report once, in some newspaper printed ben bank nego at the seat of government and in the county in which said bank or banks are located, and the expense thereof shall be defrayed by the banks; and, if any bank shall fail to furnish to the Audi. tor its quarterly report in time for such publication, or shall fail to pay the expenses incurred in the publication of its report, when they shall be demanded by him, it shall forfeit and pay the Auditor of State the sum of one hundred dollars, to be applied by him to the expense of publishing the quarterly reports; and the Auditor of State is authorized to collect said forfeiture in his name, upon his application to any court of competent jurisdiction, in the county where such delinquent bank may be loca
report to the legislature.
Banks shall annually publish
What such statements shall set forth,
Auditor shall ro- ted. The Auditor of State shall, also, transmit, annually, to the
Legislature, at the commencement of its session, a condensed summary of all the items reported to him by all the banks, which summary, verified by his oath, shall contain a true and correct statement of the condition of all the banks in the State at the time of the making of their last report.
Sec. 34. Every bank and banking association, formed under trust and accu- the provisions of this act, shall, annually, on the first Monday of
January, in each year, cause to be published, for six successive weeks, in one public newspaper printed in the county in which such bank may be located, and in some newspaper printed at the seat of government in this State, a true and accurate statement, verified by the oath of the cashier, of all deposits made with said bank, and of all dividends and interests declared and payable upon any of the stocks, bonds or other evidences of indebtedness of said bank, which, at the date of such statement, shall have remained unclaimed by any person or persons authorized to receive the same for two years then next preceding.
SEC. 35. Such statement shall set forth the time that every such deposit was made, its amount, the name and residence, if known, of the person making it, the name of the person in whose favor the dividend or interest may have been declared, its amount, and upon
what number of shares and on what amount of stocks, bond, or other evidence of indebtedness of any such bank or banking association.
Sec. 36. All plates, dies and such like materials, of and shall be destroyed.
peculiar to any individual bank or banking association, which shall have closed business, either by its own voluntary act, or by operation of law, under the direction of the Auditor of State, in presence of the Governor or Treasurer of State, shall be destroyed ; and such destruction, specifying the articles so destroyed, shall be officially certified to by all the three aforesaid officers.
Sec. 37. It shall be the duty of the Legislature, annually, to elect a joint committee, whose duty it shall be io examine the securities deposited in the Auditor of State's office, by banking associations and individual banks, together with books and papers therein relating to the business of banking ; and the said committee shall report the true state and condition of that department to the Legislature.
Sec. 38. Every officer, agent or clerk of any banking association or banker authorized by this act, who shall willfully and knowingly subscribe or make any false statements of facts,
All plates, &c.,
Legislaturo shall appoint committee to examine banks.
Penalties if found railty.
entries in the books of such person or association, or shall knowingly subscribe or exhibit false papers, with the intent to deceive any person authorized to examine as to the condition of such bank or association, or shall willfully or knowingly subscribe and make false reports, shall be deemed guilty of [a] misdemeanor, and shall be subjected to imprisonment at hard labor, in the State's prison, for such term, not less than one year nor more Imprisonment. than ten years, as the court trying him shall designate, and, likewise, any commissioner, examiner or other officer, willfully and knowingly subscribing or making any false report, shall be deemed guilty of [a] misdemeanor, and be subjected to like penalties.
Sec. 39. The Auditor of State shall, before entering upon the Auditor shall first duties prescribed by this act, give to the State of Kansas a bond in the penal sum of fifty thousand dollars, with not less than five sureties, to be approved by the Governor and Secretary of State, conditioned for the faithful discharge of all the duties of his office, provided for and incumbent upon him under this act, and deposit the same in the office of the State Treasurer; and the Auditor of State shall not be directly nor indirectly interested in any bank or banking association, or as an individual banker.
SEC. 40. Any banker or banking association that shall organ- shall popoauditor ize under this act, shall be required to pay the Auditor of State for the service performed by him or under his direction, in behalf of such banker or banking association, [according to the provisions thereof,] one-half of one per cent. on the amount of circulating notes countersigned and registered as hereinbefore provided, and may require the same to be paid at the time of the delivery of such notes.
Sec. 41. In case the securities deposited with the Auditor of In case securities State, to secure the redemption of the circulating notes of any eighth "per cent. bank, shall be sold in pursuance of the requirements hereof, oneeighth of one per cent. on the amount received for the same, shall be allowed the Auditor of State for his services in selling the stock and redeeming the notes of such bank, and the amount of such per centage together with all necessary expenses incurred in advertising and selling such stock, shall be audited by the State Treasurer, and on his certificates the Auditor of State may deduct the same from the proceeds of such sale.
SES. 42. Any person or persons violating any of the provis- Persons violating ions of this act, not hereinbefore specifically provided for, shall, doo. upon conviction thereof, pay a fine of not less than fifty dollars
this act fine.
When and how to take effect.
or more than five hundred dollars for each and every offense, to be recovered before any court having competent jurisdiction ; and all fines and penalties so recovered shall be paid into the State treasury.
SEC. 43. This act to be published in one newspaper in each county in this State, where practicable, and in one newspaper published at the Capital for six weeks previous to the next general election, and to be submitted to a vote of the electors of this State at the next general election; to be in force from and after its approval by the majority of the votes cast at such election. The ballots used ut said election shall be written or printed, as follows: “For Banking Law,” or “Against Banking Law,” as the case may be, and the returns of such election shall be made in accordance with the election law of this State.
Approved June 4th, 1861.
AN ACT to prevent the payment of certain Ponds purporting to have been
issued under the provisions of an Act entitled “An Act to provide for funding the indebtedness of the Territory,” approved February 11th, 181), and ceriain warrants and certificat s purportiny iu have been drawn under the provisions of an Act entit ed “An Act to provide for the adjustment and payment of Ciainis,” approved February 7th, 1859, and an Act supplementary to an Act entitied “An Act to provide for the payment of Claims," approved February 11th, 1859, and to prevent th issuing or putting into circu. lation of any Bank bills or notes purporting to be a promise to pay money or currency based upon any such Bonds.
Treasurer or other officer forhiden to par bonds or coupons.
Be it enacted by the Legislature of the State of Kansas :
SECTION 1. That the Treasurer of the State of Kansas, or any other disbursing oilicer of said State, be and be is hereby prohibited from paying any bonds or any of the coupons thereto åttached, issued under the provisions of an act of the late Territory of Kausas, entitled "An Act to provide for funding the indebtedness of the Territory of Kansas,” approved February 11th, 1859, so issuer upon any warrant drawn under the provisions of an act of the late Territory of Kansas, entitled "An Act tu provide for the adjustment and payment of Claims,” approved February 7th, 1859, and an act of the same, entitled "Au Act