Annual Report of the Commissioner of the Banking Department of the State of Michigan

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Page xxvi - The affairs of each bank shall be managed by a board of not less than five directors, who shall be elected by the stockholders and hold office for one year, and until their successors are elected and have qualified. * Section
Page xxviii - In the construction of the statutes of this state, the following rules shall be observed, unless such construction would be inconsistent with the manifest intent of the legislature, that is to say
Page xxviii - The shares of stock of such bank shall be deemed personal property, and shall be transferred on the books of the bank in such manner as the by-laws thereof may direct, but no transfer of stock shall be valid against a bank so long
Page xxv - Fifth, To elect or appoint directors, who shall choose from their members a president and one or more vice-presidents, and shall have power to appoint and employ a cashier or treasurer, and other officers
Page xxvi - state banks, trust companies or other corporations which come Into competition with national banks under the laws of the state
Page xxvi - This says, in a roundabout and polite but unmistakable way, that whatever may be the state law, national banks having the permit of the federal reserve board, may act as executors if trust companies competing with them have that power.
Page xxviii - person' may extend and be applied to bodies politic and corporate, as well as to individuals.
Page xxv - and shall have power to appoint and employ a cashier or treasurer, and other officers, including a vice-president or vice-presidents who are stockholders but not members of
Page xxvii - same in both cases. If state banks or trust companies are accorded powers in the conduct of their business that may appropriately be exercised in connection with the primary purposes of that business, neither state legislation forbidding the exercise of such powers by a national bank, nor the absence of legislation expressly
Page xxvii - No trust company, loan and trust company, loan and banking company, bank or banking company, or similar corporation, shall hereafter be appointed administrator of an estate, executor under a will, or guardian or conservator of

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