ARTICLE XV.

Any violation of any ot the provisions of this agreement, or of the rules and regulations of the clearing house, any acts or declarations upon the part of any member evidencing a refusal upon its part to abide by the constitution or rules of the association, and any conduct deemed prejudicial to the interests of the association, shall be punishable by fine, suspension, or expulsion, as may be deemed proper by the association. Fines may be imposed by the executive committee, but suspension or expulsion shall be only upon the affirmative yote of three-fourths of the members of the association. Any supposed violation of the articles, rules, or regulations of the association or conduct deemed prejudicial to its interests shall be investigated by the executive committee. Any member complained of or under investigation must, on notice, appear and answer all questions pertaining to the inquiry, and submit all books and records required. This committee shall take action thereon and, in the event that the matter is deemed to be of sufficient importance to warrant either suspension or expulsion, it shall cause to be called a meeting of the association to consider the matter. Nothing herein contained shall prevent complaint being made to the association as to the conduct of any member, whether the matter complained of shall have been investigated by the executive committee or not.

ARTICLE XVI.

SECTION 1. Amendments to the preamble, or to Articles I to XVI, inclusive, of this constitution, may be made at any meeting of the association by a vote of threefourths or more of all members of the association, notice of any proposed amendment having been given in writing at least five days previously to such meeting.

SEC. 2. Any rule or regulation contained in Article XVII of this constitution may be amended, and any new rule or regulation may be added at any meeting, upon a majority vote.

ARTICLE XVII.

This article contains the rules for the government of the association, its officers and employees, in the conduct of its clearing house. These may be altered, repealed, or added to at any meeting of the association.

RULES.

1. At 10.30 a. m. on each business day, messengers from the several banks shall present at the clearing house their respective demands against each member, totalized, and. after exchanging, shall determine and make known the debit or credit balance to the manager, who will, when proof is made, issue his certificate on the following form to the creditor members or the debtor members, for the balance due: Salt Lake Clearing House Association

No.

Pay to (No.-

- $

dollars, account debit balance resulting from the adjustment of exchanges made this date, between members of this association. Not negotiable or transferable.

To (No.

Salt Lake City, Utah.

Manager.

Proper matter for the clearing house shall consist of all checks, drafts, certificates of deposit, and any other matter especially agreed upon by any member, until notice to the contrary is given.

2. It shall be the duty of the banks holding the manager's certificates issued in settlement for balances, to collect the same daily, and should any bank fail to pay the balance against it on presentation of the said certificate, the amount of that balance shall be supplied to the manager by the members to whom the defaulting bank is a debtor in proportion to the amounts due to them, respectively, from the defaulting bank according to the exchanges of that day, the manager making the necessary requisitions upon them, so that the general settlement may be completed with as little delay as possible. After clearing, the respective amounts so supplied to the clearing house on account of the defaulting bank will constitute claims on the part of the several responding members against the defaulting member, but the association shall in no wise be responsible therefor.

3. Errors in the exchanges and claims arising from the return of checks, or from any other cause, are not to be adjusted through the clearing house, but directly through the members who are parties to them; all checks, drafts, notes, or other items in the

exchanges found not good, or missent, shall be returned without mutilation, or notice of dishonor given directly to the member from whom they were received, as soon as examined, or presented, not later than 2.30 p. m. on the day of clearance in which said return vouchers were exchanged, and the said members shall immediately refund to the bank returning the same the amount for which it had received credit through the clearing house for the said checks, drafts, notes, or other items so returned to it: Provided, Such returns and refund shall on Saturdays be made not later than 11.30 a. m. 4. In case of default by any member, all checks and vouchers delivered through the clearing house to such defaulting members shall be returned, if required, to the member owning the same, without mutilation, but the association shall not be responsible therefor.

5. All negotiable paper deposited for clearance by the members of this association shall bear the stamp of the depositing bank, which shall clearly indicate the name of the bank, its clearing house number, and the date of clearance. The stamp shall be for clearing house purposes only, and shall guarantee the validity and regularity of all prior indorsements on the paper so cleared, except the indorsement of an original payee of a certificate of deposit, and it shall not be construed to supply a missing indorsement.

6. Each bank shall file with every other member of this association, a certified impression of its clearing-house stamp and certification stamp, and the signatures of persons authorized to certify and indorse checks.

7. Checks shall be made payable in current funds, except that when the executive committee authorizes the issue of clearing-house certificates, checks may be drawn payable in clearing-house funds.

8. Members of this association shall not open their respective offices for business, except between the hours of 10 a. m. and 3 p. m., on business days: Provided, That the hours of business on Saturdays shall be from 9 a. m. to 12 m.

9. No member shall directly or indirectly pay interest upon an open or checking account, excepting upon the accounts of banking institutions, and in no case shall interest be allowed to such institutions upon daily balances at a rate in excess of 23 per cent per annum: Provided, That where arrangements have heretofore been entered into between a member of the association and a depositor not a banking institution, which require the payment of interest, they shall not be disturbed, and the same arrangement may be continued by any other member succeeding to the account: And provided further. That application may be made by a member to the executive committee for permission and permission may be granted. to pay interest upon a checking or open account upon a statement in writing of the facts and reasons therefor: And provided further, That public funds shall not be subject to this rule. 10. The following charges shall be made upon escrow:

"A deposit of $2.50, payable in advance, where the sum does not exceed $1,000. A deposit fee of $5, payable in advance, where the amount involved exceeds $1,000.

In addition to said deposit fees, a charge at the rate of 50 cents per $1.000 (minimum fee. 10 cents) shall be made upon all amounts paid under the provisions of any escrow agreement.

11. A charge shall be made for all domestic exchange sold at not less than the following rates:

On all single drafts of $5 or less. 5 cents.

On all single drafts over $50 and not exceeding $100, 10 cents.

On all drafts aggregating over $100, one-tenth of 1 per cent.

No charge need be made upon drafts issued to the Government of the United States, or its disbursing officers; to express companies; to telegraph companies; to interstate railroad companies or their subsidiary companies; to nonresident customers; to banks in Salt Lake City, or their corresponding banks, or for the trading of western for eastern exchange, or vice versa, with customers outside of Utah.

A charge shall be made upon all telegraphic transfers at not less than the following

rates:

One-fourth of 1 per cent on all amounts up to $1,000, minimum charge, 50 cents. One-eighth of 1 per cent on all amounts over $1,000; minimum charge, $2.50. One-tenth of 1 per cent on all amounts transferred by telegraph, in addition to cost of telegram, shall be made to all banks.

12. Where a remittance letter contains a check or checks, including cashier's checks, dated and issued at Salt Lake City or county, drawn upon any bank in Salt Lake City, whether remitted for credit or for collection and returns, and bearing the indorsement of any person, firm, or corporation, bank or banker, located outside the States of Utah, Idaho, Montana, Wyoming, and Nevada, a charge of not less than onetenth of 1 per cent, minimum charge 15 cents, shall be made by the receiving bank

upon the total amount of such checks, provided that no charge need be made for checks of $5 or less.

Where local checks are received for credit on an account kept with the receiving bank, no charge need be made, but where checks are received from a bank with which the receiving bank keeps an account, the regular charge shall be made.

13. A charge of one-tenth of 1 per cent, minimum charge 15 cents for each item, shall be made upon all items in excess of $5, received for collection by any bank in this city and requiring returns in exchange. In the event of failure to collect a minimum charge of 15 cents for each item shall be made to defray the cost of handling same. Regular correspondents may be exempted from this charge.

A charge of 10 cents for each item, in addition to the cost of collection, may be made upon all collections received from local customers and payable outside of Salt Lake City; this charge to be payable in advance, and to be retained whether item is collected or not.

14. A charge of not less than one-tenth of 1 per cent shall be made upon sight drafts cashed or credited on receipt, when drawn upon any point where days of grace are allowed.

15. No clearing house bank shall clear checks for any bank in this city that does not comply with the constitution and rules of the clearing house.

16. No refund or rebate shall be made to effect or reduce any of the charges hereinbefore provided. Any evasion of the letter or spirit of these rules shall be considered a violation.

17. Check books and tabbed checks furnished by the clearing house banks of Salt Lake City shall be charged for according to the following schedule:

Books or tabs containing 200 checks, $1.25; books or tabs containing 300 checks, $1.50; books or tabs containing 400 checks, $1.75; books or tabs containing 500 checks, $2; books or tabs containing 1,000 checks, $4. Checks lithographed to order will be charged for at actual cost. No charge need be made for check books furnished to the disbursing officers of the United States Government. The only exceptions to the above rules are United States Government and public accounts and customers residing and doing business outside of Salt Lake County.

18. Banks will not allow overdrafts except of a temporary nature; customers to be notified with a special request not to overdraw the account.

19. Items on points other than Salt Lake City received through the clearing house from associate members and thereafter lost in transit through no negligence of the receiving bank may be charged back to the sending bank.

In receiving checks, drafts, or other paper on deposit or for collection a member acts only as agent and assumes no responsibility for the acts, omissions, neglect, or default of agents or subagents at other points. Any credit allowed for items on other banks or parties is only provisional until the proceeds thereof in money shall have been actually received by the member.

20. Applications for contributions from members of the association to charities, celebrations, excursions, local organizations, etc., shall be referred to the executive committee, provided that any member may contribute not to exceed the sum of $10 to such purpose without reference to the committee.

The names and clearing-house numbers of the members of this association and the date of subscription hereto of each is as follows, to wit:

No.

By