4. The name and location of every private banker, and foreign corporation, whose authorization certificate or license has been revoked by the commissioner and the date of such revocation.

5. The name of every corporation that has applied to the commissioner for permission to open a branch office, the date of such application and the location of the proposed branch.

6. The name of every corporation that has been authorized by the commissioner to open a branch office, the date of approval and the location of such branch office.

7. The name and location of every corporation and private banker authorized by the commissioner to increase or reduce its capital stock or permanent capital, the date of such authorization and the amount of the increase or reduction.

8. The names and locations of all corporations that have merged pursuant to the provisions of this chapter and the dates of such mergers.

9. The name and residence of every person appointed by the commissioner as a deputy, examiner or employe in the banking department, the title of the office to which appointed, the compensation paid and the date of appointment.

10. The date on which a call for a quarterly report by banks, trust companies or private bankers was issued by the commissioner and the day designated as the day with reference to which such report should be made.

11. The name and location of every corporation and private banker of whose property and business the commissioner shall have taken possession and the date of taking possession, and the name and residence of every person appointed by the commissioner as a special deputy commissioner.

12. The name and location of every corporation and private banker which shall have been authorized by the commissioner to resume business, and the date of resumption.

13. The name and location of every corporation whose creditors or depositors have been paid in full by the commissioner and a meeting of whose stockholders shall have been called together with date of notice of meeting and date of meeting.

14. The name and location of every corporation subject to the provisions of this chapter whose affairs and business shall have been finally liquidated and the corporation dissolved.

15. The name and location of every private banker whose affairs have been liquidated and business discontinued. Every such statement, after having been so posted for one week, shall be placed on file and kept in the office of the commissioner. All such statements shall be public documents and at all reasonable times shall be open to public inspection.

Sec. 55. Biennial report of commissioner. The commissioner shall report biennially to the legislature as follows:

1. A summary of the state and condition of every corporation and private banker required to report to him and from which reports have been received during the preceding two years, at the

several dates to which such reports refer, with an abstract of the whole amount of capital reported by them, the whole amount of their debts and liabilities and the total amount of their resources, specifying in the case of banks, trust companies and private bankers the amount of lawful money held by them at the time of their several reports, and such other information in relation to such corporations and bankers as, in his judgment, may be useful. Such corporations shall be divided into classes so as to correspond with the several articles in this chapter.

2. A statement of all corporations authorized by him to do business during the previous year with their names and locations and the dates on which their respective certificates of incorporation were issued, particularly designating such as have commenced business during the year.

3. A statement of the corporations and private bankers whose business has been closed either voluntarily or involuntarily, during the year, with the amount of their resources and of their deposits and other liabilities as last reported by them and the amount of unclaimed and unpaid deposits, dividends and interest held by him on account of each.

4. A statement of the amount of interest earned upon all unclaimed deposits, dividends and interest held by him pursuant to the requirements of this chapter.

5. Any amendments to this chapter, which, in his judgment, may be desirable.

6. The names and compensation of the deputies, clerks, examiners, special agents and other employes employed by him, and the whole amount of the receipts and expenditures of the department during each of the last two preceding fiscal years.

7. All such reports shall be printed at the expense of the state and paid for as other public printing.

73. Assessments for encroachments on reserves against deposits.

96.

97.

98.

99.

100.

101.

102.

103.

104.

105.

Report of unclaimed deposits, dividends and interest-publicationpenalty for non-compliance.

Liability of bank for assessments by commissioner.

Preservation of books and records of bank.

Change from state to national bank.
Change from state bank to trust
company.

Prohibitions against encroachments
upon certain powers of banks.
Use of sign or words indicating bank
by unauthorized persons prohibited.
Conditions to be complied with by
foreign banking corporations apply-
ing for license.

When foreign banking corporation
may transact business in this state.
Rights and privileges of foreign
banking corporation under license-
effect of revocation.

106. Reports of foreign banking corporations-penalties.

84.

85.

107.

86.

87.

Surplus fund-of what composed,
and for what purposes used.
How net earnings credited for divi-
dend purposes-credits to surplus
fund and to undivided profits-
dividends to stockholders.

108.

109.
110.

Deposits of minors and trust deposits and deposits in the names of more than one person.

Special remedies applicable to banks doing a safe deposit business. Private bankers defined.

Requirements for private banker.
Private bank not to make loan on
personal security of owner in excess
of ten per cent of paid-up capital.
Funds of private bank not to be used
in other business-twenty per cent
of net profits to be placed to surplus.
Application of and penalty for viola-
tion of provisions of this article.
Private banker not required to pay
additional tax or license.

Moneys forfeited-to whom paid.
Definitions of terms used in chapter.

Sec. 56. Who may be incorporated. When authorized by the bank commissioner as provided in section fifty-nine of this act, any five or more persons, who shall have associated themselves by articles of agreement, in writing, as provided by law, for the purpose of establishing a bank may be incorporated under any name or title designating such business.

Sec. 57. Articles of agreement shall state, what. The articles of agreement mentioned in this article shall set out:

1. The corporate name of the proposed corporation, which shall not be the name of any corporation heretofore incorporated in this state for similar purposes, or an imitation of such name.

2. The name of the city or town and county in this state in which the corporation is to be located.

3. The amount of the capital stock of the corporation, the number of shares into which it is divided, and the par value thereof; that the same has been subscribed in good faith and all thereof actually paid up in lawful money of the United States and is in the

custody of the persons named as the first board of directors or managers: Provided, that if the subscribed capital is only $10,000, then less than the full amount thereof may be paid in at the time of filing the articles of agreement, as provided in section sixty of this article.

4. The names and places of residence of the several shareholders and the number of shares subscribed by each.

5. The number of directors or managers, and the names of those agreed upon for the first year.

The articles of agreement may designate the number of directors necessary to constitute a quorum, and may provide for the number of years the corporation is to continue, which shall not exceed fifty years, or may provide that the existence of the corporation shall continue until the corporation shall be dissolved by consent of the stockholders or by proceedings instituted by the state under any statute now in force or hereafter enacted.

Sec. 58. To be signed, recorded and filed in office of bank commissioner. The articles of agreement shall be signed and acknowledged by the parties thereto, and recorded in the office of the recorder of deeds of the county or city in which the corporation is to be located; and a certified copy of such recorded instrument shall be filed in the office of the bank commissioner.

Sec. 59. Examination and certificate as to character and capital. When any bank shall have filed with the bank commissioner a certified copy of its articles of agreement and shall have paid all incorporation and other fees in full, as required by law, and shall have provided the cash required by law, the commissioner shall, before such bank shall complete its incorporation, examine or cause an examination to be made, in order to ascertain whether the requisite capital of such bank has been subscribed in good faith and paid in actual cash and is ready for use in the transaction of business of the proposed bank, and whether the character, responsibility and general fitness of the persons named in such articles of agreement are such as to command confidence and warrant belief that the business of the proposed corporation will be honestly and efficiently conducted in accordance with the intent and purpose of this chapter. In case the commissioner shall find all the provisions of the law have been complied with and shall have satisfied himself by such investigation as to the facts as above provided, he shall grant a certificate setting forth that such corporation has been duly organized and the amount of its capital subscribed and paid up in full. Such certificate shall be recorded in the office of the recorder of deeds of the county r city in which the corporation is to be located, and such certificate, so recorded, or certified copies thereof, shall be taken in all the courts of this state as evidence of such incorporation; and the existence of such corporation shall continue for the period limited in its articles of agreement, if there fixed, and if not there fixed, then until the corporation is dissolved by consent of its stockholders or until its corporate existence ends

pursuant to the laws of this state. In case the commissioner shall not be satisfied, as the result of such examination, that the character, responsibility and general fitness of the persons named in such articles of agreement is up to the standard above provided, and on that account shall refuse to grant the certificate of incorporation, he shall forthwith give notice thereof to the proposed incorporators from whom such articles of agreement were received; who, if they so desire, may within ten days thereafter appeal from such refusal to a board composed of the governor, the attorneygeneral and the state treasurer, which board shall within twenty days thereafter finally decide the matter, and the commissioner shall act in accordance with such decision. Such board may prescribe rules and regulations for the proceedings in connection with such appeal.

Sec. 60. Cash capital required. The cash capital of such corporation shall amount to not less than:

(a) $10,000, if the place where its business is to be transacted is an unincorporated or incorporated village or town, the population of which does not exceed three thousand; and such bank of $10,000 may be incorporated when there has been paid in cash one-half of said subscribed capital and in addition thereto an amount deemed by the bank commissioner adequate for the bank's furniture and fixtures; provided that until the bank's capital has been fully paid it shall not invest any of its funds in the purchase of a banking house.

(b) $25,000, if the place where its business is to be transacted is an unincorporated or incorporated town, the population of which exceeds three thousand but does not exceed fifteen thousand.

(c) $50,000, if the place where its business is to be transacted is a town, the population of which exceeds fifteen thousand but does not exceed twenty-five thousand.

(d) $100,000, if the place where its business is to be transacted is a city, the population of which exceeds twenty-five thousand.

Provided, however, that any bank now existing, the capital of which is not equal to that limitation required of a bank in its location, may continue to do business under its present capital: Provided, that until its capital and surplus fund shall equal twenty per centum more than the minimum of capital required for a bank in its location, one-tenth of its net earnings at the close of each dividend period, as provided in section eighty-seven of this act, shall be credited to the surplus fund, and no such bank shall declare, credit or pay any dividend for any dividend period to its stockholders until it shall have made such credit to its surplus fund for that period.

Sec. 61. Capital stock to be divided into shares-vendor and vendee liable, when.-The capital stock of such corporation shall be divided into shares of not less than one hundred dollars each. If any shareholder sell or transfer his shares, or any number