The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-04-24

four (234) of the General Laws of eight
cen hundred and eighty-nine QSS9), and
Dy section fve (5) of chapter two hundred
SZVol OF the General Laws of eighteen
hundred and ninety-nne QS99), be. and
the same hereby is amended, so as to
read as follows:
IMAM one hundred 900 dollars. which
snail be collected or received by any such
corporation, heretofore or hereafter or
canned In Its capacity of executor, ad-
nIlnlstrator. or guardian, or upon any
deposit under any order of any court of
record, and which money shall not be re-
CURED for the purposes of such trust, or
is not to be accounted for, within one On
year from date of such collection recent
or deposits, shall be invested by such cor
poratlon as soon as practicable and in
such securities as are mentioned i'm sec
ton four a. of said act, as herein amend
ed, either then held by ii or then spe-
caIIy procured by it; and the net interest
ana prontS OF such Investments less the
reasonable charges and disbursements Of
said corporation, in the premises, shall be
accounted for and paid over as part of
such trust; and the net accumulations OF
such interest and profits thereon shall
likewise be invested and reinvested as a
part of such principal. And such invest
ments shall be received and allowed by
the probate, other court in the settle
nlent of such trust.
And every such corporation shall keep,
In ADDITION TO its general books of &C
count, separate trust account book or
books, in which shall be entered and kept
all trust accounts. All such trust ac-
counts shall at all times be kept separate
such corporation. All funds and property
received or held by such corporation in
any trust capacity, as administrator, eX-
ecutOr, guardian receiver assignee or
trustee. shall be entered in such trust &C
count books and be at all times kept
separate and distinct from all other funds
and property of such corporation.
All deposits in any bank, or other in
sttution, made by such corporation, of
funds received or held by it in any such
trust capacity, shall be deposited as trust
FUNDS. and not in its individual name,
but as trustee. and not in any account
IN which any of its own funds shall be
deposited.
Every security in which such trust
FUNDS or property shall be by such cor
poration invested, shall at once be in
dorsed and transferred to it as trustee
executor, administrator guardian, re-
celYer or assignee, as the case may be-
and entered in the proper books OF such
corporal ton as belonging to the particular
trust the funds of which shall have been
invested therein. And any change in such
investment shall be credited, charged. or
entered under or in the account of the
particular trust to which the same be-
long, TO the end that all trust funds Sc
CurltleS and property shall be at all times
capable of immediate identification as
belonging TO the trust funds of said cor
poratlon separate and distinct from its
general property and funds. If any spe-
claI direction, agreement or trust is i'm
posed upon, made or conferred in and by
The order. judgment or decree of any
court, or by the terms and conditions of
any last will and testament or other
document, contract, conveyance, OF other
written instrument. as to the particular
| manner of keeping or investing or as To
! the particular manner in which or the
| particular class or kinds of securities.
| FUNDS or property the same shall be in
! vested in, then the said corporation shall
| 1olloW and carry out such order, judg-
ment, decree or other appointment, con
| tract deed, conveyance, or other written
| instrument
| Sec. 3. This act shall take effect and
! be in force from and after its passage
! and all acts or parts of acts inconsistent
with this act are hereby repealed.
| Approved March 49, 1903.