The Laws of Texas, 1927 [Volume 25] Page: 221 of 1,111
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GENERAL AND SPECIAL LAWS. 205
daily deposits of any such Bank or Bank and Trust Company
having a capital stock exceeding $20,000.00 and not exceeding
$30,000.00 exceeds six times such capital and surplus, and where
any such Bank or Bank and Trust Company with a capital stock
exceeding $30,000.00 and not exceeding $50,000.00, has average
daily deposits exceeding seven times said capital and surplus,
and any such Bank or Bank and Trust Company having a capital
stock exceeding $50,000.00 and not exceeding $75,000.00 shall
show average daily deposits exceeding eight times such capital
stock and surplus, and any such Bank or Bank and Trust Company
having a capital stock in excess of $75,000.00 and not exceeding
$100,000.00 shall show average daily deposits exceeding nine
times the capital stock and surplus thereof, and any such Bank
or Bank and Trust Company having a capital stock of $100,000.00
or more shall show average daily deposits in excess of ten
times such capital and surplus, then in such event the Banking
Commissioner may in his discretion, if he deems it necessary for
the protection of the depositors require such Bank or Bank and'
Trust Company to increase its capital stock by twenty-five per
cent of the then existing capital stock of said Bank or Bank andl
Trust Company; and for the purpose of maintaining the ratio'
between capital stock and surplus and deposits herein fixed, the
Commissioner may, in his discretion, require a further increase
of such capital stock in an amount not exceeding twenty-five per
cent, if deemed necessary for the protection of the depositors;
and upon receipt by any such Bank or Bank and Trust Company
of an order under the hand and seal of office of the Banking
Commissioner, the directors thereof shall within ninety days
after said receipt of such order cause such increase to be made
in the capital stock as hereinbefore set out, and if the same is
not done within such time it shall be unlawful for such Bank
or Bank and Trust Company to thereafter receive any deposits
at any time when its total deposits of all kinds shall in the aggregate
amount to more than the ratio herein placed upon said
deposits, and in the event any such Bank or Bank and Trust
Company does receive deposits in violation of this provision, the
directors thereof shall become and be personally liable to the
depositors owning and holding such deposits.
SEC. 2. The fact that the present law is inadequate for the
regulation of increase of capital stock of State Banking Corporations
and there is an undue proportion of deposits to capital and
surplus, creates an emergency which requires that the constitutional
rule requiring bills to be read on three several days be and
the same is hereby suspended, and this Act shall take effect and
be in force from and after its passage; and it is so enacted.
Approved March 25, 1927.
Effective 90 days after adjournment.
[NOTE.-H. B. No. 545 passed the House of Representatives
104 yeas, 0 nays; passed the Senate by a viva voce vote.]
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Gammel, Hans Peter Mareus Neilsen. The Laws of Texas, 1927 [Volume 25], book, 1927; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth16125/m1/221/: accessed April 19, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; .