The Guaranty of Bank Deposits
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In our eReader you can find the full English version of the book. Read The Guaranty of Bank Deposits Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book The Guaranty of Bank Deposits
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The law has established a relationship between deposits and capital and provides that the deposits of guaranteed banks shall not exceed ten times their paid-up capital. If a bank exceeds this limit for as long as six months its charter is revoked. 2 The law limits the rate of interest which a bank may pay on deposits that are subject to the guaranty law, and an officer who promises to pay a higher rate is guilty of a misdemeanor. 3 Advertising in such a way as to imply that deposits are guarant...eed by the State of Kansas, or advertising which implies that the bank is a member of the guaranty system when it is not, is a misdemeanor. 4 If upon examination a bank is found to be violating the law it is given thirty days in which to com- ply with the statutes. If at the end of this time it is still out of harmony with the law it loses its membership in the guaranty system and forfeits to the guaranty fund the cash or bonds which it has on deposit with the state treas- urer. 6 The law governing the residence of directors and the amount of stock which bank officials must hold was also made more strict, and if the bank commissioner finds a bank official who is incompetent, reckless, or dishonest, he must order the bank directors to remove such official.
What to read after The Guaranty of Bank Deposits?
You can find similar books in the "Read Also" column, or choose other free books by Thomas Bruce Robb to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
The law has established a relationship between deposits and capital and provides that the deposits of guaranteed banks shall not exceed ten times their paid-up capital. If a bank exceeds this limit for as long as six months its charter is revoked. 2 The law limits the rate of interest which a bank may pay on deposits that are subject to the guaranty law, and an officer who promises to pay a higher rate is guilty of a misdemeanor. 3 Advertising in such a way as to imply that deposits are guarant...eed by the State of Kansas, or advertising which implies that the bank is a member of the guaranty system when it is not, is a misdemeanor. 4 If upon examination a bank is found to be violating the law it is given thirty days in which to com- ply with the statutes. If at the end of this time it is still out of harmony with the law it loses its membership in the guaranty system and forfeits to the guaranty fund the cash or bonds which it has on deposit with the state treas- urer. 6 The law governing the residence of directors and the amount of stock which bank officials must hold was also made more strict, and if the bank commissioner finds a bank official who is incompetent, reckless, or dishonest, he must order the bank directors to remove such official.
What to read after The Guaranty of Bank Deposits?
You can find similar books in the "Read Also" column, or choose other free books by Thomas Bruce Robb to read onlineMoreLess
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