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Session Laws, 1902 Session
Volume 476, Page 137   View pdf image (33K)
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JOHN WALTER SMITH, ESQ., GOVERNOR.

137

assignee, guardian or committee, shall be subject to all orders
or decrees of the proper tribunal in the premises under the
laws of the State wherein such tribunal shall or may exercise
its jurisdiction.

Section 11. And be it enacted, That the said corporation be

CHAP. 114.

and it is hereby authorized and empowered to receive and
keep on deposit, storage or otherwise, all such valuables as
gold, silver or paper money, bullion, precious metals, jewels,
plate, certificates of stock, evidences of indebtedness, promis-
sory notes, contracts, deeds of muniments of title or other
valuable papers of any kind or any other article or thing
whatsoever, and take charge and custody of real and personal
estate and securities, and advance money thereupon, on such
terms as may be established or approved by said corporation ;
and it may be lawful for any Court of this State or United
States Court into which money, stocks, bonds or other property
may be paid or deposited by agreement of parties, order, judg-
ment or decree of such Court, to order and direct the same to
be deposited with said corporations, and that any executor,
administrator or other trustee or receiver, agent or other public
officer, having the control of any bonds, stocks, securities,
moneys or other valuables belonging to others, shall be and is
hereby authorized to deposit the same for safe keeping with
said corporation ; and that in all cases in which public officers,
municipal or private corporations may be made with said
corporation, and for the complete preservation of all articles
or things deposited for safe keeping, the said corporation may
construct, erect, purchase or lease such suitable buildings, and
all other means which may be or become necessary, and to
maintain and let for hire vaults, safes and like receptacles.

Section 12. And be it enacted, That whenever any Court

Gold, silver
or paper
money, etc.,
to be kept
on deposit.

ehali appoint the said corporation a receiver, trustee or
assignee; or shall order the deposit of money or other valuables
of any kind with said corporation, the capital stock of said
corporation shall be taken and considered as the security
required by law for the faithful performance of any duty im-
posed upon it by orders or decrees of such Court, unless the
said Court shall deem proper to require further security ; and
the said corporation shall he absolutely liable in case of any
default whatever. Such Court may, from time to time, and
whenever deemed advisable by such Court, appoint suitable
persons to investigate the affairs and management of said
corporation, who shall report to such Court the manner in
which such funds so held as receiver, trustee or assignee are
invested or held ; the expense of investigation shall be borne
by said corporation and such Court may, if it deemed neces-

Capital stock
taken
as security.




 
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Session Laws, 1902 Session
Volume 476, Page 137   View pdf image (33K)
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