Annual Report of the Commissioner of the Banking Department of the State of Michigan |
Other editions - View all
Common terms and phrases
00 Bonds borrowed 00 Cash 00 Commercial deposits 00 Furniture 00 Other real 00 Outside checks 00 Overdrafts 00 Total resources 00 Undivided profits Assistant Cashier banks and bankers banks in reserve Bonds and Cert borrowed or left Capital stock paid cash items Cash on hand Cashier's checks certificates of deposit Certified checks checks on banks clearing house Club savings deposits Commercial deposits subject deposits book account Dividends unpaid Due from banks Due from Federal Due from U. S. Exchange for clearing Federal Reserve bank Furniture and fixtures house and checks Individual deposits subject left for safe legal reserve Loans and discounts moneys on deposit mortgages and securities NATIONAL BANK Postal savings deposits real estate reserve cities Reserved for taxes safe keeping SAVINGS BANK Savings deposits book Statement September 14 Stock of Federal subject to check Total liabilities U. S. Bds U. S. Bonds U. S. Treasurer Vice President
Popular passages
Page xli - collateral security, shall not be personally liable as stockholders but the assets and funds In their hands constituting the trust shall be liable to the same extent as the testator, Intestate, ward or person interested In such trust funds would be If living and competent to act. Dear
Page xliv - Sixth. To prescribe by Its board of directors, by-laws not Inconsistent with law, regulating the manner In which its stock shall be transferred. Its directors and officers elected or appointed. Its stockholders convened for special meetings, Its property transferred. Its general business conducted and the privileges granted to it by law exercised and enjoyed." "Fifth. To elect or appoint directors
Page xlix - of any person or of any company, corporation or firm for moneys advanced. Including the liabilities of the company or firm, the liabilities of the several members thereof except special partners, shall at no time exceed one-tenth part of the amount of the capital and surplus of such bank, etc.
Page xliii - business, or that Its exercise would fix the dividing line between being a bank or not, or between exercising or not exercising "general banking business." "All such powers as shall be necessary to carry on the business of banking by discounting and negotiating promissory notes, drafts, bills of exchange or other evidences of debt, by receiving deposits by buying and selling exchange, coin aud bullion,
Page xxxiv - capital and surplus of such bank, but the discount of bills of exchange drawn In good faith against actually existing values and the discount of commercial or business paper actually owned by the person negotiating the same shall not be considered as money borrowed : * * * Provided, however, That by a two-thirds vote of directors, the liabilities to any bank of any person or company or corporation or
Page lii - person placing his signature upon an instrument otherwise than as maker, drawer, or acceptor, Is deemed to be an endorser unless he clearly Indicates by appropriate words his intention to be bound In some other capacity " In view of the above provisions and the numerous authorities, there can be no doubt that in an Instrument executed In the above form William
Page xxxvii - said to be necessary for a corporation to purchase and hold shares of stock In a state bank except as such stock might be taken In payment of debts In good faith owing to the corporation. "The word 'person' may extend and be applied to bodies politic and corpprate as well as to Individuals.
Page lxv - to deposit securities with the State authorities for the protection of private or court trust. national banks so acting shall be required to make similar deposits and securities so deposited shall be held for the protection of private or court trusts, as provided by the State law.
Page xliv - and officers elected or appointed. Its stockholders convened for special meetings, Its property transferred. Its general business conducted and the privileges granted to it by law exercised and enjoyed." "Fifth. To elect or appoint directors • • •" Section 12 of the present law (Section
Page lxii - When a deposit shall be made in any bank or trust company by any person in the name of such depositor or any other person, and in form to be paid to either or the survivor of them, such deposits thereupon and any additions thereto, made by either of such persons, upon the making thereof, shall become the property of such persons