The following table is a condensed abstract of seventeen closed and two active receiverships since the organization of this Department in 1889:

Capital stock at date of failure..

$1,021,000.00

$60,000.00 $1,081,000.00

OPINIONS OF THE ATTORNEY GENERAL

INDEX.

(The references in arabic numerals are to consecutive opinions, those in roman numerals are

to pages..)
A.

ABSTRACT DEPARTMENT:

Trust companies may own and operate..

ANNUAL MEETING:

ARTICLES OF INCORPORATION:

Stockholders must be present or represented by proxy at.

Authority to subscribe, as "trustee" required..
Executor of estate may not subscribe, in his representative capacity
ASSESSMENT:

28

Directors' notes not permissible in lieu of assessment. not limited to one hundred per cent on stockholders.

15

22

Opinion.

25

50

Page.

xl

lv

3

B.

BANK:

absorbing another cannot continue to hold certain unauthorized investments

Branches:

may not be maintained in an unincorporated village by bank
incorporated in another unincorporated village.
permitted in certain instances.

Commercial (strictly), must amend articles to transact savings busi

condition of, Commissioner may require information tending to show
Foreign, not permitted to engage in business in this state.
may loan to Building and Loan Associations..

32

xlvi

9

xxxi

61

lxiii

27

xl

12

xxxiii

56

lx

51

lvi

36

xlvii

may be organized by stockholders of national bank.

12

xxxiii

may not legally close on days other than prescribed by law. may open on legal holidays with certain restrictions. not to pledge assets in lieu of bond to secure county funds. stock:

62

lxiii

corporations to invest in or possess only on certain conditions..
may be cancelled and new certificates issued.
Taxation of

house, Stock in building company cannot be carried as, under Sec. 11 Law, General, not affected by act to make uniform law of transfer

54

lix

of stock

52

lvi

BOARD OF DIRECTORS:

cannot fill vacancy on board through failure of stockholders to elect cannot increase or decrease their number..

must have fully paid for ten shares of stock at organization. Report of examining committee of, to be made matter of proper record BONDS:

Certain municipal public utility, not legal savings investments..
Joint trusteeship in certain issues of, permissible..

Officers and directors, must be commensurate with size of bank.