THE C U B A R E V I E fV 19 



Article II. All rules which the Clearing House Manager may prescribe from time 

 to time for the conduct of internal business, shall likewise and to the same extent 

 be binding, on approval by the Clearing House Committee, provided they are not 

 in conflict with the Constitution or By-laws of the Association. 



Article III. The member banks shall make all necessary efforts to the end that 

 their clients and the public may adopt a regular and uniform system in regard to 

 endorsements and other banking usages. 



Article IV. No provision contained in these By-laws shall curtail the rights which 

 any member bank may have in any case according to law, and such rights may be 

 maintained and exercised before the Courts or other authorities, whenever any question 

 in dispute may extend beyond the jurisdiction of the Habana Clearing House. 



CHAPTER II 



Parties Engaged in the Clearing of Checks 



Article V. All member banks shall present daily, in the manner hereinafter pre- 

 scribed, all checks held by them and drawn upon other member banks, and the Clearing 

 House shall daily exchange all checks presented for that purpose. 



Article VI. Any member bank may be designated as Clearing Bank by the Clearing 

 House -Committee, and such bank shall have charge, in such manner as may be de- 

 termined, of receiving and paying out the daily balances in favor of or against the 

 respective member banks after exchanging the checks which they shall have presented 

 for the purpose. The liability of the Clearing Bank shall not exceed the amounts 

 which it may receive from debtor members and the distribution thereof among the 

 creditor members. The Clearing Bank shall issue and demand the necessary receipts. 



Article VII. No checks drawn against a bank which is not a member of the 

 Association shall be accepted in the clearings except in the cases provided by Article 

 XII of the Constitution. 



Article VIII. The transactions of the Habana Clearing House and the internal 

 administration thereof shall be in charge of a Manager, who shall have control of the 

 offices and exercise his functions in accordance with these By-laws and the Rules which 

 he shall make from time to time with the approval of the Clearing House Committee. 

 The Manager shall approve the clearings each day and shall issue over his signature 

 the certificates of credit or debit balances which pertain to each member as a result 

 of the exchanges. He shall have, morever, such authority as may be delegated to 

 him by the General Meeting of Members and the Clearing House Committee or as 

 pertains to the nature of his office. 



Article IX. During the hours of exchanges no person shall be admitted to the 

 offices of the Habana Clearing House unless accompanied or introduced by a member, 

 who shall be responsible for the acts of said person. 



CHAPTER III 

 Clearing of Checks 



Article X. The exchange of checks between member banks shall take place daily 

 at the offices of the Habana Clearing House at 10:00 o'clock a. m. sharp, with the 

 exception of Saturdays, when the hour will be 9:00 a. m. When the exchanges have 

 been effected the Manager shall deliver to each bank a certificate of its credit or debit 

 balance, together with all the documents and checks drawn against said bank and listed 

 in the clearings. The said bank shall receive such checks and documents as depositary 

 and shall not acquire title to the same until it has paid its debit balance of the same 

 day or collected the credit balance due it. 



Article XI. Should the said bank fail to pay its debit balance it shall return the 

 said documents and checks to the Manager, free of any marks or annotations, and such 

 return shall not be excused or delay incurred for any cause. On its failure to make 

 payment and return of documents, the Manager shall recall from the banks interested 



