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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..
(The references in arabic numerals are to consecutive opinions, those in roman numerals are
Trust companies may own and operate..
ARTICLES OF INCORPORATION:
Stockholders must be present or represented by proxy at.
Authority to subscribe, as "trustee" required..
Directors' notes not permissible in lieu of assessment. not limited to one hundred per cent on stockholders.
absorbing another cannot continue to hold certain unauthorized investments
may not be maintained in an unincorporated village by bank
Commercial (strictly), must amend articles to transact savings busi
condition of, Commissioner may require information tending to show
may be organized by stockholders of national bank.
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:
corporations to invest in or possess only on certain conditions..
house, Stock in building company cannot be carried as, under Sec. 11 Law, General, not affected by act to make uniform law of transfer
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..
Officers and directors, must be commensurate with size of bank.