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Session Laws, 1894 Session
Volume 480, Page 1029   View pdf image (33K)
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FRANK BROWN, ESQUIRE, GOVERNOR.

dent of said corporation, and every president shall cease to be
a president upon his ceasing to be a stockholder or a citizen of
this State.

1029

SEC. 7. And be it enacted, That the said corporation shall
have power to borrow money, receive money on deposit and
pay interest thereon, and to loan money or to discount in
accordance with bank usage, taking such security therefor,
either real or personal, as the board of directors of said bank
may deem sufficient; may buy and sell bills of exchange, notes,
bonds or other securities; may accept and hold all such trusts
as shall or may be committed to it by any person, or by the
order and direction of any judge, or any court or tribunal ;
may make such special regulations in reference to trust funds,
and special or other deposits as the board of directors may
think advisable; may purchase and hold such real and personal
estate and property as may be necessary for the accommoda-
tion and transaction of its business; may issue letters of credit
and other commercial obligation, and generally may do and
transact a general banking business.

May borrow
and lend
money, etc.

SEC. 8. And be it enacted, That the board of directors shall
have power to regulate all matters pertaining to special or;
trust deposits, the amounts to be received at any time, and the
manner in which the same shall be received or paid, as the
case may be, and to make all needful regulations in that
behalf; provided, that the aggregate amount of said special
or trust deposits shall not at any one time exceed the capital
stock in said bank; provided, in the exercise of all trust
powers herein granted, that said corporation shall be subject at
all times to the provisions of the Act of 1892, chapter 109.

Special or
trust
deposits.

SEC. 9. And be it enacted, That whenever any deposit shall
be made by a minor or married woman, such deposits shall be
received or held and paid out on precisely the same terms and
conditions as those of adult male or adult unmarried female
depositor, and the directors of said bank may, at their discre-
tion, pay to such minor or feme covert depositor, such sum or
sums of money as may be due to him or her, and the check,
receipt or acquittance of such minor or feme covert shall be
valid, any law of this State to the contrary notwithstanding.

SEC. 10. And be it enacted, That at all elections for the

Deposits by
minors and
married
women.

directors of said bank, every stockholder shall be entitled to
one vote for every share that he, she, it or they may hold, to
the number of not exceeding twenty shares, and to one vote

Votes of
stockholders



 
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Session Laws, 1894 Session
Volume 480, Page 1029   View pdf image (33K)
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