of its deposits. Two-fifths of said fifteen (15) per cent. shall be cash in the vaults of the bank: Provided, that in cities having a population of more than twenty-five thousand (25,000), said reserve shall be twenty (20) per cent. of the aggregate amount of the deposits: Provided further, that savings banks shall have on hand at all times, as a reserve in available funds, an amount equal to at least five (5) per cent. of their aggregate deposits.

SEC. 29. The available funds shall consist of cash on hand and balances due from other solvent banks. Cash shall include lawful money of the United States, and exchange for any clearing house association. Whenever the available funds

of any bank shall fall below the reserve herein required, such bank shall not make any new loans or discounts otherwise than by discounting or purchasing bills of exchange payable at sight; nor shall such bank make any dividends of its profits until it has on hand the available funds required by this act.

SEC. 30. Any bank examiner when appointed by the Corporation Commission, and who has filed such bond as may be required by the Commission, when ordered by said Board, shall have authority to take possession of any bank doing business under the laws of this State and retain possession of said bank for a time sufficient to make a thorough examination into the affairs and financial condition of said bank, and in case it is found by said examiner, upon said examination, that said bank is insolvent or is conducting its business in an unsafe and unauthorized manner, or is jeopardizing the interests of its depositors, then such examiner, when authorized by the Corporation Commission, shall have full power and authority to hold and retain possession of all the money, rights, credits, assets and property of every description belonging to such bank, corporation, partnership, firm or individual whose property has been taken possession of by such examiner, until the Corporation Commission can receive and act on the report made by the examiner of said bank, and have a receiver appointed, for the purpose of winding up and settling the affairs of said bank, banking institution or banker, according to law: Provided, the Commissioners in their judgment may grant such bank, corporation or individual thirty or sixty days in which to correct any errors or irregularities, and make good any deficiencies or losses shown in such reports or otherwise.

SEC. 31. That all laws and clauses of laws in conflict with this act be and are hereby repealed.

SEC. 32. That this act shall be in force from and after its ratification.

In the General Assembly read three times and ratified this the 9th day of March, A. D. 1903.