The Superior times. [volume] (Superior, Wis.) 1870-1912, 1883-05-26
Published April IA, 1893
CHATTER 294.
AN ACT to provide for the organization of tr1ls

i
The people OF The state of Wisconsin, represented
in senate and assembly, do enact as follows:
Section /. Ten or more adult persons, residents
! OF TINS state may form corporation in the
manner provided by chapter IS of the revised
statutes, for the following purposes to-wt: To re-
ceiye moneys IN trust, and to accumulate the same
at such rate OF interest as may be obtained or
agreed on, or to allow such interest thereon as
may be agreed, not exceeding, in either case the
| legal rate To accept and execute all such trusts
AMI perform such duties OF every description not
inconsistent with the laws of this state as NAV be
committed to 1t by any person or persons what
soeYer, or by any corporation or by order of any
court of record. 10 take and accept by grant as
| slgnmenJ transfer, device or bequest and hold
any real or personal estate on trusts created in
! accordance with the laws of this state or of the
United States and execute such legal trusts in re-
gard TO same on such terms as may be declared
established or agreed upon in regard thereto 10
act as agent for the purpose of transferring, issu
ing, registering counersigning the certificates
OF stock, bonds or other evidences of debt of any
corporation, association, municipality, state or
public authority, on such terms as may be agreed
upon. 10 accept from and execute trusts for
married women i'll respect to their separate prop
erty, whether real or PERSONAL to act agent for
them in the management of such properly and
generally 10 have and exercise such powers as are
usually had and exercised by trust companies.
Section ,. In all cases where an application
shall be made TO any court of this state for the
appointment of guardian of the estate Of any
infant the said court shall have power 10 appoint
the said corporation as guardian of the estate Of
such infant; and every court into which moneys
may be paid by parties, or be brought by order or
judgment, may by order direct the same to be de-
posted with the said company on such terms as
may be agreed upon.
Section 3. When appointed guardian receiver,
depOsitary, executor or administration the cnlrt
may in its discretion, require bonds from said
company, but II not so required, lone shah be
demanded. In case of the dissolution of said cor
poratiOn, the debts due from the corporation as
guardian, executor, administrator, or as receiver
or depositary of moneys i'll court, shall have
preference.
Section 4. The capital of corporations organ
iZed II accordance with this statute, shall be not
less than onS hundred thousand dollars (SlOO 00O)
which shall be divided into shares of one hundred
dollars (SlO0) each. The capital shall Ice invested
in bonds and mortgages on uEincumbercd real
estate within the state of Wisconsin worth
double the amount loaned thereon or in the bonds
OF the United States Of this state or in bonds OF
the incorporated cities of this state authorized to
be issued by the legislature and no such corpora
ton shall be authorized to transact any business
until said capital stock shall be actually paid in
in cash.
Section B. All the corporate powers of the said
cooperation shall be exercised by a board of trust
ees, WHO shall not be less than thirteen G3) nor
more than twenty (2Q in number, and such
officers and agents as they shall appoint.
Section o. a majority of the trustees must be
citizens Of this state, and each trustee must be a
stockhoder to the amount Of five thousand dollars
$4,000 at least.
Section Z. This act shall take effect and be In
force from and after its passage