The Laws of Texas, 1927 [Volume 25] Page: 35 of 1,111
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GENERAL AND SPECIAL LAWS. 19
,shall be returned by said Commissioner to the bank depositing
,same, provided the depositing bank shall not have failed and no
suits are pending against it involving its said securities. Any
action against the principal or securities of any bond, or other
guaranty of indemnity, shall be brought within one year from
the date of the expiration of such bond or other guaranty of indemnity;
and not thereafter.
And provided further, that the repeal of any statute or any
portion thereof by this Act shall not affect or impair any act
done, or right vested or accrued, or any proceeding, suit or prosecution
commenced before or after this Act shall take effect,
to enforce rights vested or accrued prior to the passage of this
Act; and provided further, that no offense committed, and no
liability, penalty or forfeiture, either civil or criminal, incurred
prior to the time this Act takes effect shall be discharged or
affected hereby; and provided further, that the statutes hereby
repealed shall remain in full force and effect for the purpose
of liquidating all failed banks in the hands of the Banking Commissioner
of Texas at the time this Act shall take effect; and
provided further, that the passage of this Act shall not affect
the liability of State banks for assessments to the Guaranty
Fund as such liability existed at the time this Act takes effect;
nor shall any State bank be permitted to withdraw its interest
in the Guaranty Fund until all lawful demands against such interest
existing at the time this Act takes effect have been fully
satisfied and discharged.
SEC. la. That Article 439 of the Revised Civil Statutes of
the State of Texas, adopted at the Regular Session of the
Thirty-ninth Legislature, 1925, be and the same is hereby
amended so as hereafter to read as follows:
Article 439. The State Banking Board shall consist of the
Attorney General, the Banking Commissioner and State Treasurer.
Said board shall have the power of regulation, control and
supervision of all State Banking Corporations and Bank and
Trust Companies, in conformity to law, and shall adopt all necessary
rules and regulations in harmony with the law affecting
the regulation of the same.
SEC. 2. The importance of this Act and the fact that the
many recent changes of the statutes governing State banks
heretofore are somewhat confusing and hard to be complied
with. create an emergency and an imperative public necessity,
requiring that the constitutional rule which requires that bills
shall be read on three several days in each House, 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 February 11, 1927.
Effective Feb. 11, 1927.
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Gammel, Hans Peter Mareus Neilsen. The Laws of Texas, 1927 [Volume 25], book, 1927; Austin, Texas. (texashistory.unt.edu/ark:/67531/metapth16125/m1/35/: accessed April 23, 2017), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; .