INDEX. (The references in arabic numerals are to consecutive opinions, those in roman numerals are to pages..) ABSTRACT DEPARTMENT: Trust companies may own and operate. ANNUAL MEETING: Stockholders must be present or represented by proxy at. ARTICLES OF INCORPORATION: Authority to subscribe, as "trustee" required... Executor of estate may not subscribe, in his representative capacity ASSESSMENT: Directors' notes not permissible in lieu of assessment. not limited to one hundred per cent on stockholders. B. BANK: absorbing another cannot continue to hold certain unauthorized investments Branches: may not be maintained in an unincorporated village by bank cannot extend its credit to individual or bank. cannot legally sell steamship tickets.. Commercial (strictly), must amend articles to transact savings busi ness condition of, Commissioner may require information tending to show may not legally close on days other than prescribed by law. house, Stock in building company cannot be carried as, under Sec. 11 54 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. BONDS: Certain municipal public utility, not legal savings investments. Officers and directors, must be commensurate with size of bank.. stock may not be carried as banking house under Sec. 11..... xl Xxxi XXX lv xlvi xxxi lxiii xl xxxiii lx lvi xlvii xxxiii lxiii xlv liii xxxvii xxxvii xlvii lx lxi C. Opinion. Page. CAPITAL: construed Increase of, not required of banks by extension of corporate limits.. impairment, Discretionary authority vested in commissioner in CERTIFICATES: (strictly) must amend articles to transact savings business... COMMISSIONER: authority re: Consolidations... may require information tending to show bank's condition. Discretionary authority vested in, in capital stock impairment. CONDITION OF BANK: Commissioner may require information tending to show.. CORPORATE LIMITS: extension of: Requirements in connection with increase of capital stock of Increase of capital not required of banks by. CORPORATION: Banking, must incorporate under general banking law. municipal, Loans to, limited to twenty per cent of capital and surplus stock not trust company investment... to invest in or possess bank stock only on certain conditions. COUNTY FUNDS: State bank not to pledge assets in lieu of bond to secure. CREDIT: Banks cannot extend their, to an individual or bank.. CREDITOR: Banks are preferred, of building and loan associations. DEPOSIT BOXES: D. Bank's liability when rented to two individuals... Building and loan associations may not advertise for. cannot fill vacancy on board through failure of stockholders to elect examination--proper record to be made of report.. Executor cannot be member of board of, in that representative capacity cannot be director of state bank in that representative capacity. may not subscribe for stock in bank in his representative capacity.. 28 EXTENSION: of corporate limits: affects requirements in connection with increase of capital by county, State banks not to pledge assets in lieu of bond to secure.. Private Banks not depositories for public.. 46 17 liii xxxvi legal, State banks may open on with certain restrictions. State banks may not legally close other than those prescribed. 31 62 xlv lxiii not evidences of indebtedness as contemplated by banking law. not legal investments for State Banks. LEASES: Purchase price of, may be carried as banking house. Municipal corporation, limited to twenty per cent of capital and surplus M. MAKER : signer on face of note considered as such unless otherwise designated MORTGAGE : Real estate: corporations: Loans to, limited to twenty per cent of capital and surplus.. Signer on face of, considered maker unless otherwise designated.. State banks not to pledge assets in lieu of bond to secure county |