examiners, immediately to close said corporation or private bank, and take charge of all the property and effects thereof.

(3) Whenever any corporation or private banker subject to the provisions of this chapter so desires, it or he may place its or his affairs and assets under the control of the bank commissioner by posting a notice on its front door as follows: "This bank (or trust company) is in the hands of the bank commissioner." The posting of this notice or of a notice by the bank commissioner that he has taken possession of any such corporation or private bank shall be sufficient to place all its assets and property, of whatever nature, in the possession of the bank commissioner, and shall operate as a bar to any proceedings whatever whether in law or in equity, against any incorporated bank, private bank, or trust company, or its or their assets, and if any such action is begun, then all such proceedings shall be summarily dismissed and for naught held, upon the certificate of the bank commissioner being filed in such cause, showing that he has taken possession of the assets of such bank, banker, or trust company, and any court in which such proceedings are pending shall have no power, authority or jurisdiction to proceed further in any such cause, and any officer or other person having possession of any assets or property of any such bank, banker, or trust company, shall immediately deliver the possession of the same to the commissioner unless otherwise provided in this act: Provided, however, nothing herein shall in anywise prevent or prohibit any bank, banker or trust company from being garnished in any case. (Laws 1915, р. 116.)

See notes to preceding section.

Sec. 11701. Banks, trust companies, etc., prohibited from making assignment-duty when in failing condition. It shall be unlawful in this state for any corporation or private banker subject to the provisions of this chapter to make a voluntary general assignment of its business and affairs. In case it shall find itself to be in a failing condition, it shall immediately place itself in the hands of the bank commissioner. Any deed of voluntary general assignment executed by any such corporation or private banker, shall be null and void, and in case the officers or directors of any such institution shall endeavor to make any voluntary general assignment of its assets, the bank commissioner shall immediately take possession thereof and proceed, as provided in section 11702 and following. All transfers of the notes, bonds, bills of exchange, or other evidence of debt owing to any corporation or private banker, or of deposits to its credit; all assignments of mortgages, securities on real estate or of judgments or decrees in its favor; all deposits of money, bullion or other valuable thing for its use, or for the use of any of its shareholders or cred and all payments of money to it, made after the commi of an act of insolvency, or in contemplation thereof, made a view to prevent the application of its assets in the manner scribed by this chapter, or with a view to the preference of creditor to another, shall be utterly null and void. No ati ment, injunction or execution shall be issued against such corp tion or private banker, or its property, before final judgmen any suit, action or proceeding in any state, county or muni court. (Laws 1915, p. 117.)

This section indicates a legislative purpose to prohibit insolvent banks liquidating their business under the general law authorizing voluntary assign for the benefit of creditors, but does not prohibit creditors and stockholder others interested in its funds from making an assignment of its assets to a company for collection and distribution to liquidate its affairs and retire it business. Citizens Trust Co. v. Tindle et al., 272 Mo. 681, 199S. W. 1025.

Sec. 11702. Circumstances under which possession of c missioner may terminate. When the commissioner shall h duly taken possession of such corporation or private ban under any provision of this chapter, he may hold such posses until its affairs are finally liquidated by him, unless:

1. He shall have permitted such corporation or banke resume business pursuant to the provisions of section 11705.

2. The commissioner shall have been directed by orde court to surrender such possession, pursuant to the provision section 11704.

3. The stockholders of such corporation, at a meet called by the commissioner pursuant to the provisions of sect 11723, shall have duly determined to appoint and shall h appointed, an agent or agents to continue the liquidation of s corporation, and such agent or agents shall have qualified take possession of its remaining assets as provided in sect 11723.

4. The depositors and other creditors of such corporat or banker and the expenses of such liquidation shall have be paid in full. (Laws 1915, р. 117.)

Sec. 11703. Commissioner may report delinquencies attorney-general to procure judgment of dissolution-repo presumptive evidence. Whenever the commissioner is entitl to take possession of any such corporation for any reason s forth in section 11700, he may report to the attorney-gene and specify in such report the delinquencies of such corporatio and the attorney-general may institute an action to procure judgment dissolving such corporation. Every such report an every report of a duly instituted examination of such corporatio when duly verified by the certificate and seal of the bank cor Fated in any action or proceeding against such corporation intuted by the attorney-general. (Laws 1915, p. 118.)

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Sec. 11704. Manner and time within which action of comissioner in taking possession may be tested. At any time thin ten days after the commissioner has taken possession of e property and business of any such corporation or banker, ch corporation or banker may apply to the circuit court, or the dge thereof in vacation, in the judicial district in which the prinpal office of such corporation or banker is located, for an order quiring the commissioner to show cause why he should not be joined from continuing such possession. The court or the dge thereof in vacation, may, upon good cause shown, direct e commissioner to refrain from further proceedings and to surnder such possession. (Laws 1915, р. 118.)

Sec. 11705. Commissioner may permit resumption of busiess. The commissioner may, upon such conditions as may be pproved by him, surrender possession for the purpose of permitting such corporation or banker to resume business. (Laws 915, р. 118.)

Sec. 11706. Special deputies, assistants, counsel and other mployes. The commissioner may, by certificate, under his and and official seal, appoint one or more special deputy commissioners as agent or agents to assist him in liquidating the usiness and affairs of any corporation or private banker in his ossession. The commissioner shall file such certificate in his ffice and shall cause a certified copy thereof to be filed in the ffice of the recorder of the county or city in which the principal ffice of such corporation or banker is located. He may, from ime to time, delegate such special deputy commissioner to perorm such duties connected with such liquidation as he may leem proper. He may employ such expert assistants and counsel and may retain such of the officers or employes of such corporaion or banker as he may deem necessary in the liquidation and listribution of the assets of such corporation or banker. He hall require such security as he may deem proper from his agents and assistants appointed pursuant to the provisions of this secion. (Laws 1915, p. 118.)

Sec. 11707. Payment by commissioner of expenses of iquidation. The commissioner shall pay out of the funds in his nands, of such corporation or private banker all expenses of Liquidation, subject to the approval of the circuit court in the county or city in which the principal office of such corporation or banker is located, and upon notice of the application for such approval to such corporation or banker. He shall, in like manner, fix and pay the compensation of special deputy commissioners, assistants, counsel and other employes appointed to sist him in such liquidation pursuant to the provisions of article. But a special deputy who, as examiner acting u commission from the commissioner, has previously exam the books, papers and affairs of such corporation or banker, s not receive compensation as such special deputy which exc by more than five dollars a day the per diem compensation ceived by him as examiner at the time of making such exam tion. (Laws 1915, p. 119.)

Sec. 11708. Procedure of commissioner to obtain poss sion of pleadings, et cetera, in actions against which attorn liens are asserted. - When the commissioner is in possession the business and property of any such corporation or priv banker, and attorney's liens are asserted by attorneys of s corporation or banker against any causes of action to which s corporation or banker is a party, or against pleadings or ot papers in the possession of such attorneys relating to such cau of action, or if such liens are asserted against any evidences title to any assets or against any of the assets of such corporat or banker, then in the possession of such attorneys, the comm sioner may institute special proceedings and petition the co to fix and determine the amount of said liens. Such proceedin shall be instituted in the county or city in which the princip office of such corporation or banker is located. Upon applic tion of the commissioner and upon notice to such attorneys to prescribed by the court, the court may by order prior to final c der in such proceeding direct such attorneys to deliver to t commissioner all property of such corporation or banker, again which such liens are asserted, together with such consents substitution of attorneys as the court may direct, upon the cor missioner furnishing security to such attorneys in the mann and to an amount to be fixed by the court. (Laws 1915, p. 119

Sec. 11709. On taking possession, commissioner shall notin those holding assets-effect of notification. - When the commi sioner shall have taken possession of the property and business c any such corporation or private banker, he shall forthwith giv notice of such fact to any and all banks, trust companies, associa tions and individuals holding any assets of such corporation o banker. No corporation; association or individual having notic or knowledge that the commissioner has taken possession of suc corporation or banker, shall have a lien or charge against an of the assets of such corporation or banker for any payment advance or clearance thereafter made, or liability thereafter incurred. (Laws 1915, р. 119.)

710. Inventory of assets and where filed. After the er shall have taken possession of the property and such corporation or private banker, he shall make in ■ inventory of the assets of such corporation or banker. ommissioner shall have decided that he will not perporation or banker to resume business pursuant to the f section 11705, he shall file one copy of such invenoffice and shall cause one copy to be filed in the office der of the county or city in which the principal office poration or banker is located. (Laws 1915, p. 120.) 711. Disposition by commissioner of property held ent as bailee, or depositary for hire. The commisafter he has taken possession of any such corporation anker, cause to be mailed to all persons claiming to aring upon the books of such corporation or banker owner or owners of any personal property therein the possession of such corporation or banker depositary for hire, or the lessee of any safe, vault or e in writing in a securely closed, postpaid, registered ed to each of such persons at his postoffice address upon its books, or, if his name is not recorded in said s last known postoffice address, notifying such person all such personal property within a period stated in and not less than sixty days from the date thereof. perty shall not have been removed within the time h notice, the commissioner may apply to the circuit ge thereof in vacation of the county or city in which Ly is located for an order directing him as to the dissuch property; and he may cause any safe, vault or , or on the premises of, such corporation or banker ter opened in his presence or in the presence of one al deputy commissioners, and of a notary public, not in the employ of the corporation or banker or of the er, and the contents, if any, to be sealed and distinctly such notary public, with the name and address of the hose name such safe, vault or box stands upon the - corporation or banker, and a list and description of

therein to be attached thereto. Such package so ddressed together with the list and description of the rein, may be kept by the commissioner in one of the or boxes of the corporation or banker until delivered n whose name appears thereon or until otherwise s directed by the court. (Laws 1915, р. 120.)

712. Effect of commissioner's notice to remove up