Act of Incorporation ... the By-laws ... and the Savings Bank Law of the State ... as Amended to 1899

Front Cover
1899 - 60 pages

From inside the book

Selected pages

Common terms and phrases

Popular passages

Page 49 - ... deal or trade in any goods, wares, merchandise or commodities whatever, except as authorized by...
Page 42 - ... not defaulted in the payment of any part of either principal or interest of any funded debt authorized to be contracted by it...
Page 52 - The trustees of such corporation acting as officers of the same, whose duties require and receive their regular and faithful attendance at the institution, and the trustees appointed as a committee to examine the vouchers and assets pursuant to section...
Page 57 - But nothing in this act shall be construed to affect the legality of investments heretofore made, or of transactions heretofore had, pursuant to any provisions of law in force when such investments were made or transactions had...
Page 41 - When any deposit shall be made by any person in trust for another, and no other or further notice of the existence and terms of a legal and valid trust shall have been given in writing to the bank, in the event of the death of the trustee, the same, or any part thereof, together with the dividends or interest thereon, may be paid to the person for whom the deposit was made.
Page 39 - ... shall borrow any of its funds or deposits or in any manner use the same except to make such current and necessary payments as are authorized by the board...
Page 51 - ... their depositors according to the character, amount, and duration of their dealings with the corporation, and regulate the interest or dividends allowed, in such manner that each depositor shall receive the same ratable proportion of interest or dividends as all others of his class.
Page 32 - Such persons shall under their hands and seals execute and acknowledge an organization certificate in duplicate, which shall specifically state: 1. The name by which the corporation shall be known. 2. The place where its business is to be transacted. 3. The amount of its capital stock, and the number of shares into which the same is to be divided.
Page 57 - ... except as the same can be done gradually by the sale or redemption of the securities so invested in, in such manner as to prevent loss or embarrassment in the business of such savings bank, or unnecessary loss or injury to the borrowers on such securities.
Page 31 - ... shall forfeit to the people of the state the sum of one hundred dollars for each refusal and answer untruthfully given, to be sued for and recovered by the commissioner in his name of office.

Bibliographic information