condition of the corporation making the report at the close of any past day by the commissioners specified, by stating: First-The amount of its capital stock, and the number of shares into which it is divided;

Second-The names of the directors, and the number of shares of stock held by each;

Third-The total amount actually paid, in money, by stockholders for capital stock, and the total amount of reserve fund, if any;

Fourth-The total amount due to depositors;

Fifth-The total amount and character of any other liabilities it may have;

Sixth. The amount at which the lot and building occupied by the bank for the transaction of its regular business stands debited on its books, together with the market value of all other real estate held, whether acquired in settlement of loans or otherwise; the amount at which it stands debited on the bank books; in what county situated, and in what name the title is vested, if not in the name of the corporation itself;

Seventh-The amount loaned on real estate, specifying the amount secured on real estate in each county separately; also specifying the name of the person in whose name the property is held in trust, or as security, in case it is held in any name other than that of the bank, and the instrument creating the security does not of itself disclose the name of the bank;

Eighth-The amount invested in bonds, designating each particular class, and the amount thereof;

Ninth-The amount loaned on stocks and bonds, designating each particular class, and the amount thereof;

Tenth-The amount of money loaned on other securities, with a particular designation of each class, and the amount loaned on each;

Eleventh-The actual amount of money on hand or deposited in any other bank or place, with the name of the place where deposited, and the amount in each place;

Twelfth-Any other property held or any amount of money loaned, deposited, invested, or placed, not otherwise herein enumerated, with the place where situate, and the value of such property, and the amounts so loaned, deposited, or placed.

The oaths of the officers to the statements above required shall state that they, and each of them, have a personal knowledge of the matters therein contained, and that they believe every allegation, statement, matter and thing therein

Gen. Laws

contained is true; and any willfully false statement in the premises shall be perjury, and shall be punished as such. The reports as provided for by this section shall by the commissioners be required from each and every corporation herein mentioned at least three times in each year, and shall be transmitted to the commissioners within fifteen days after the receipt from them of a request or requisition therefor.

Sec. 9. Any corporation mentioned in section three of this act failing to furnish to the bank commissioners any report by them required under the provisions of this act within the time herein specified, shall forfeit the sum of one hundred dollars per day during the time of such default.

Sec. 10. If the bank commissioners, on examination of the affairs of any corporation mentioned in section three of this act, shall find that any such corporation has been guilty of violating its charter, the laws of this state, or any of the provisions of this act, or is conducting business in an unsafe manner, they shall, by an order addressed to the corporation so offending, direct discontinuance of such illegal and unsafe practices, and a conformity with the requirements of the law and its charter, and of the provisions of this act. And if such corporation shall refuse or neglect to conform with such requirements before the expiration of the time in order specified, or if it shall appear to said commissioners and they shall unanimously decide that it is unsafe for any such corporation to continue to transact business, it shall be the duty of the commissioners immediately to take such control of such corporation, and all the property and effects thereof, as may be necessary to prevent waste or diversion of assets, and to hold possession of the same until the order of court hereinafter mentioned, and to immediately notify the governor and the attorney-general of their action; and it is hereby made the duty of the attorney-general, upon receiving such notification, to immediately commence suit in the proper court against such corporation, and all the directors or trustees thereof, to enjoin and prohibit them from the transaction of any further business. If, upon the hearing of the case, the court shall find that such corporation is solvent and may safely continue busniess, it shall dismiss the action, and order that the corporation be restored to the possession of the property, but if the court shall find that it is unsafe for such corporation to continue business, or that such corporation is insolvent, said court shall by its decree order such corporation into involuntary liquidation, and shall issue the injunction applied for, and shall cause

the same to be served according to law, and shall order the commissioners to surrender the property of the corporation in their possession to a receiver appointed by the court for the purpose of liquidation in such proceeding, under the orders and direction of the court. The issuance of the injunction herein before provided for shall, by operation of law, dissolve any and all attachments levied upon any property of such corporation within one month next preceding the date of the notification by the commissioners to the gov ernor and the attorney-general as provided for in this section; and no attachment or execution shall, after the issuance of such injunction and during the process of liquidation, be levied upon any property of such corporation, nor shall any lien be created thereon. If a receiver be appointed, before surrendering to him the property of the corporation for purposes of liquidation, the person named as receiver shall execute to the people of the state of California, an undertaking, with sufficient sureties, in an amount to be fixed by the court, that he will well and truly perform all the duties devolving on him by reason of such receivership, and that he will faithfully discharge the duty of receiver in the proceeding, and obey the orders of the court therein. Every receiver appointed under the provisions of this section. shall make report of the conditions of the affairs under his charge to the bank commissioners in the same manner as the solvent banks mentioned in this article are, by law, required to do, and, in addition thereto, shall state the amount of dividends paid, debts collected, and the money_realized on property sold, if any, since the previous report. The bank commissioners shall have the power, and it is hereby made their duty, to examine the conditions of the affairs of every such corporation in liquidation, in the same manner as in case of solvent banks, businesses, and institutions, and they shall have a general supervision of the affairs of such corporation in liquidation. They shall have the power to limit the number of employees necessary to close up the business of any such corporation in liquidation, and also to limit the salaries of the same, and shall do all in their power to make such liquidation as economical and as expeditious as the interests of the creditors, depositors and stockholders will admit. If any officer or employee of any association or corporation solvent, insolvent, or in liquidation, or if any other person, shall refuse to comply with the provisions of this section, or disregard or refuse to obey the directions of said bank commissioners, given in accordance with the provisions of this act, such person, officer, or employee shall be

punished by a fine not exceeding five thousand dollars or by imprisonment in the county jail not exceeding one year, or by both such fine and imprisonment. When the receiver herein provided for shall have been appointed and qualified, the duties of the attorney-general shall end.

The bank commissioners shall, by a resolution entered upon its minutes, concurred in by at least three members, have power to employ legal counsel for any of the purposes mentioned in this section or to enforce any of the penalties prescribed by this act, without the consent of the attorneygeneral, the expense thereof to be a charge against the individual bank concerning which said services are required, and if more than one bank, then pro rata among such banks. Sec. 11. The bank commissioners shall each receive à salary of three thousand six hundred dollars per annum, and necessary traveling expenses, not to exceed, for the four commissioners, the sum of four thousand dollars per annum, to be audited by the state controller and paid by the state treasurer, in the same manner as the salaries and expenses of other state officers. No person while holding any other office, or engaged in business of any kind requiring his personal attention between the hourse of nine A. M. and four P. M., shall serve as bank commissioner.

Sec. 12. The bank commissioners shall furnish each member of the legislature with a copy of their annual report, at each session of the legislature, during the first week of the session.

Sec. 13. The bank commissioners shall have the power to appoint a secretary, at a salary of three hundred ($300) dollars per month.

It shall be the duty of the secretary whenever required by the bank commissioners to visit and make personally a full examination of any corporation mentioned in section three (3) of this act and report its condition to the bank commissioners, and the secretary shall be allowed his actual expenditures necessarily incurred in making such examination and report, and for this purpose the secretary of the bank commissioners is hereby empowered to administer oaths.

The said commissioners shall keep their office open for business from nine o'clock A. M until four o'clock P. M. every day, except nonjudicial days. They shall procure rooms necessary for their office at a rent not to exceed one hundred ($100) dollars per month. They may also provide stationery, fuel and other conveniences necessary for the

transaction of their duties, not exceeding in the aggregate the sum of four thousand ($4000) dollars per annum, and cause their annual reports to the governor of this state to be printed by the lowest bidder and distributed, at a cost not to exceed two thousand ($2,000) dollars per annum, and which printing shall be exempt from the provisions of Article XII, Chapter III, Title I, Part III, of the Political Code. All expenditures authorized in this section shall be audited and paid in the same manner as the salary of the commissioners. [Am'd. 1905, p. 305.]

Sec. 14. All reports required to be made to the bank commissioners by the provisions of this act shall be filed, and kept on file, by the bank commissioners, in their office, and shall be open to the inspection of the public during their office hours.

Sec. 15. To pay the salaries, the cost of printing the bank commissioners' annual reports, and all other necessary expenses of the commissioners, as provided for in this act, every corporation, person or partnership, receiving a license shall pay annually therefor, in advance, to the commissioners, in gold coin, the sum of forty ($40) dollars. To meet the balance of such expenses, after deducting therefrom the amount received from licenses, each of said corporations, persons and partnerships shall pay annually, in advance, to the commissioners, in gold coin, its, his or their share of the amount of said balance; the share to be paid by any such corporation, person or partnership, to be determined by the proportions which the deposits of any such corporation, person or partnership bear to the aggregate deposits of all such corporations, persons or partnerships receiving licenses, as shown by the latest reports of such corporations, persons and partnerships to the commissioners. Said commissioners shall, on demand made therefor, and without charge, furnish to every corporation, society, association, company, institution, partnership, person or persons, mentioned in this act, copies of papers, statements and reports filed in their office, and may, as provided by this act, recover any and all moneys payable to them by any corporation, association, society, company, institution, partnership, person or persons herein mentioned; and all moneys collected or received by such bank commissioners, or either of them, under or by virtue of the provisions herein, shall be by them delivered to the treasurer of this state, who shall pay the same into a fund, which is hereby created, and which shall be known as the "Bank Commissioner's Fund." And the unexpended balance of all moneys here