24. Proceedings against unsafe banks.

Whenever it shall appear to the commissioner of banking and insurance from any report submitted or examination made under the provisions of this act, that the affairs of any bank are in an unsound condition because of illegal or unsafe investments, or that its liabilities exceed its assets, or that it is transacting business without authority or in violation of law, or that it is unsafe or inexpedient for such bank to continue business, it shall be the duty of the attorney-general, on notice by the commissioner of banking and insurance, to institute such proceedings against the bank as are hereinafter authorized in the case of insolvent banks, or such other proceedings as the nature of the case may require; if from any such examination the commissioner of banking and insurance shall have reason to conclude that any such bank is in an unsound or unsafe condition to do banking business, he may forthwith take possession of such bank's property and business and retain such possession until the termination of the action or proceeding instituted by the attorneygeneral, or until the appointment of a receiver pursuant to the provisions of this act, and pending such possession by the commissioner or such proceedings by the attorney-general, all remedies at law or in equity of any creditor or stockholder against the said bank shall be suspended.

25. Proceedings against delinquent banks.

If any bank shall refuse to submit its books, papers and concerns to the inspection of the commissioner of banking and insurance or any examiner appointed by him, or if any director or officer thereof shall refuse to submit to be examined upon oath touching the concerns of such bank, the com

missioner of banking and insurance may report the fact to the attorney-general, who may proceed against said bank in the manner hereafter directed with respect to insolvent banks; if it shall appear to the commissioner of banking and insurance that any bank has violated its charter or any law of this state binding upon it, or is conducting business in an unsafe or unauthorized manner, he shall by an order under his hand and official seal, addressed to such bank, direct a discontinuance of such illegal or unsafe practices, and conformity with the requirements of its charter and safety and security in its transactions; in case such bank shall refuse or neglect to comply with such order, the commissioner may report the facts to the attorney-general, who may proceed against the bank in the manner hereinafter directed with respect to insolvent banks.

26. Examination by order of the court of chancery.

Upon the application of creditors or shareholders of any bank whose claims or shares shall amount to one thousand dollars or more, stating facts verified by affidavit, the court of chancery may, in its discretion, order a strict examination to be made by one of the masters of the court, or by any other person or persons not exceeding three, appointed by it for that purpose, of all of the affairs of such bank for the purpose of ascertaining the safety of its investments and the prudence of its management, and may make such order in respect to the expense of such examination as it may deem proper; and may also make such other order or orders and direct such further and other proceedings as it may deem necessary and proper for the due protection of the interests of the creditors and stockholders of said bank.

27. Commission to investigate and report.

It shall be the duty of the court of chancery of this state upon application made to it by a petition by two or more directors, creditors or stockholders of any bank upon a proper case made by the oath or affirmation of the petitioners or others in its behalf to appoint one or more commissioners with full power to investigate the situation and affairs of the said bank and to report thereon without delay, under oath or affirmation, to the said court of chancery, and it shall be the duty of the officers of the said bank to give the said commissioner or commissioners free access to the offices, vaults, safes, notes, bills, moneys, books, papers and every other place or thing of the said bank under pain of being declared insolvent by the said court of chancery; in case of refusal and after the said commissioner or commissioners shall have made his or their report, as aforesaid, it shall be the duty of the court of chancery, if, in its opinion, the interest of the public or of the stockholders requires it, to direct the attorney general to proceed against such bank in the manner herein directed with respect to insolvent banks.

28. Compensation of commissioners.

The said commissioner or commissioners shall receive such reasonable compensation as the court of chancery may deem just and proper to be paid by or recovered of the said petitioners in case no injunction issues after his or their report is made, but if an injunction shall be issued then such compensation shall be paid out of the funds or assets of the bank.

29. Insolvent banks. Remedy in chancery by injunction and appointment of receiver.

Whenever any bank shall become insolvent, or shall suspend its ordinary business for want of funds to carry on the same, the attorney-general or any creditor or stockholder may by petition or bill of complaint setting forth the facts and circumstances of the case apply to the court of chancery for a writ of injunction and the appointment of a receiver or receivers or trustees, and the court being satisfied by affidavit or otherwise of the sufficiency of said application, and of the truth of the allegations contained in the petition or bill, and upon such notice, if any, as the court by order may direct, may proceed in a summary way to hear the affidavits, proofs and allegations which may be offered on behalf of the parties, and if upon such inquiry it shall appear to the court that the bank has become insolvent and is not about to resume its business in a short time thereafter, with safety to the public and advantage to the stockholders, it may issue an injunction to restrain the bank and its officers and agents from exercising any of its privileges or franchises and from collecting or receiving any debts, or paying out, selling, assigning or transferring any of its estate, moneys, funds, lands, tenements or effects, except to a receiver appointed by the court, until the court shall otherwise order.

30. Court may appoint receivers. Powers of receivers.

The court of chancery, at the time of ordering said injunction, or at any time afterwards may appoint a receiver or receivers or trustees for the creditors and stockholders of the bank, with full power and authority to demand, sue for, collect, receive and take into their possession all the goods and

chattels, rights and credits, money and effects, lands and tenements, books, papers, choses in action, bills, notes and property of every description of the bank, and to institute suits at law or in equity for the recovery of any estate, property, damages or demands existing in favor of the bank, and in his or their discretion to compound and settle with any debtor or creditor of the bank, or with persons having possession of its property or in any way responsible at law or in equity to the bank at the time of its insolvency or suspension of business, or afterwards, upon such terms and in such manner as he or they shall deem just and beneficial to the bank, and in case of mutual dealings between the bank and any person to allow just set-offs in favor of such person in all cases in which the same ought to be allowed according to law and equity; a debtor who shall have in good faith paid his debt to the bank without notice of its insolvency or suspension of business, shall not be liable therefor, and the receiver or receivers or trustees shall have power to sell, convey and assign all the said estate, rights and interests, and shall hold and dispose of the proceeds thereof under the direction of the court of chancery; the word, "receiver," as used in this act shall be construed to include receivers and trustees appointed as provided in this act.

31. Fees.

On filing any certificate or other paper relative to banks in the department of banking and insurance, the following fees and taxes shall be paid to the commissioner of banking and insurance for the use of the state: for certificate of incorporation, twenty cents for each thousand dollars of the total amount of the capital stock authorized, but in no case less than twenty-five dollars; for certificate of increase