Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1909-07-08

or diminished to comDlv Herewith and a
new certlncate OF such fact shall be issued
Section 2024-77k Anv such corpora
ton shall have the following powers:
First. To make all contracts necessary
ana proper 70 effect its purpose and con-
Second. To sue and be sued. to appear
ana deLend IN all actions and proceedings
tent IS a natural person
the same at pleasure
Fourth. To elect OF appoint all neces-
sary officers, agents and Servants to de-
fine their duties and obligations, GE their
compensations. dismiss them, fill vacancies,
and require bonds.
Fifth. TO make. amend, and repeal by
laws ana regulations not inconsistent with
law or It's articles or organization. for Its
own government for the orderly conduct Of
its affairs and the management Of It's prop
y eI'ty, for determining the manner Of calling
. and conducting its meeting the tenure Of
others as shall be necessary or convenient
for the accomplishment of its purpose.
Sixth. Any such corporation shall have
power, IN and by its corporate name, to
take, receive, hold, pay Tor, re-convey, and
dispose Of any effects and property real or
personal, which may be granted. committed,
sent, upon any terms or upon any trust or
trusts at any time, by eny person or per-
sons including married women and minors,
bodies corporate. or any court, including
the courts of the United States. and to ad-
minister, fulfill, and discharge the duties of
such trust or trusts for such remuneration
as may be agreed upon. Nothing herein
shall be held or construed TO give minors
or married women any other or different
power or right. than they now have as to
transferring OF disposing of any Of their
property or effects, personal or real and
when any money or other property Is en-
trusted to any such corporation by or In
the name OF any minor or married woman
the same may be held in the manner pro-
Vided in section 2024-46, and the receipt
of such minor or married woman shall have
the effect provided in said section.
And any such corporation may act gen
orally agent or attorney for the trans
action of business, the management of
estates, the collection Of rents, interests,
dividends, mortgages, bonds, bills. notes,
and other securities or moneys, and also
as agent for the purpose of issuing, negO-
tiattng, registering transferring, or counter
signing certificates of stock, bonds, or ether
obligations of any corporation. association,
or municipality, and manage any sinking
fund therefor, on such terms as may De
agreed upon and may also accept and exc
cute the offices of executor, administrator,
trustee, receiver, assignee or guardian or
any minor or insane or incompetent person,
IUnatic, or any person subject to guardian
ship; and in all cases In which appbCa-
ton shall be made to any court for, the &p-
pOintment of any person in any such capac-
Ity, 1t shall be lawful to appoint SlIch cor
poration. with its consent 70 ho.d sach
Office or Offices
In case Of such appointment, or in case
such corporation shall be named as an
executor in any viii or as assignee in any
assignment for the benefit OF credit tors, It
shall not be required 70 make and Tie any
oath or give any bond or security, except
in tho discretion Of the court making such
appointment. or having Jurisdiction Of ouch
will assignment.
The accounts Of said corporation as guch
trustee, receiver, assignee, executor, admin
tstrator, or guard an shall be regularly
Fettled and adjusted By the proper officers
or tribunals; and all proper legal. usual,
and customary charges, costs and expenses
shall be allowed to EuCh corporation tor the
care and management OF tia estate so COM
Any such corporation may transfer to
trust estates without mourning any other
legal liability than. If such transfer were
made by f third person any mortgages or
other securtties owned by It which comply
with the requirements of legal investments
for trust funds under the statutes.
Such corporation may loan money upon
real estate and upon securities othSr than
personal notes or commercial paper or Cd
legations secured solely thereby may re-
Ceive time deposits and issue Its notes,
certificates, debentures, and other obIlga-
lions therefor, payable at q, future date
only, not earlier than thirty days from the
date Of such deposit; 1t shall not receive
deposits subject to draft order, or check,
or payable upon demand, tssu3 bills 70 cir
Culate rs money, or dcal in bank exchange.
All such deposits SO received shall at sal
times be hsld or invested separate from
other funds or property helo - the .eorpo-
ration and in case of insolvency or uquidG-
tlon sI such funds and Investments made
therefrom shall ne primarily liable and
used for the payment OK such deposits
ANY such corporation may take and re-
Cslye from any Individual or corporation
Tor RaTe keeping and storage gold and silver
plata, tswelry, money, stocks, Securities ana
othSx vsIo6bIss or personnel property; and
tacIes upon It's premises upon such com
psCsation IS may be agreed upon. such
corporation shall have 6 lien for It's charges
on any gold or silver plate, tewelry, money,
stocks, securities, and other Valuable& and
personal property taken or received by u
for safe keeping and in case such lien saail
not be paid within two years from the date
Il gSCgueE, In case any property 50 taken
or received by 1t shall not ba called for by
the person or psrBons ocpostdDg the same
or his or their legal representatives or as.
signs, within two years from the Oats OF
the accrulng OF any lien upon the same,
such corporation may sell sucn property et
public auction upon like notice Is re-
Quired by law for sales of personal prop
erty on execution, and after retaining from
the proceeds Of such sale all the liens and
charges due and owing and the reasonable
expenses Of the sale. shall pay the balance
thereof TO the person or persons SO de,
posting such property, or hlA or their legal
representatives or assigns.
1t shall be lawful for any such corpora
ton to lease, purchase. hold, and convey
such land as may be necessary to carry on
It's business, and execute any trust COM
mitted to it, well as such real or per-
sOnal estate as It may deem necessary TO
acquire in the enforcement or settlement or
anv claims or demands arising out Of It's
business transactions and to execute and
issue in the transaction OF Its business Gil
necessary receipts, certificates and con-
tracts, which shall be signed By SUCH per
son. or persons as may be designed by Its
bylaws
ton shall, at al times, have in its posses
sion in lawful money. or subject to call in
any banking institutions approved py che
commissioner Of banking a reserve fund or
not less than fifteen per cant OF lcS oe-
positA
Section 2O24-77m. Every such corpora
ton shall keep its trust accounts In books
separate from Its own general BOOKS OF &c
count. All funds and property held By II
in 6 trust capacity shall. ct sl times, Do
kept separate from the funds ard property
OF thu. corporation, and all deposits, ~ II OF
such funds n any banking institution shall
be deposited ss trust funds 70 sts credit as
trustee, and not otherwise. Every security
thereof, De transferred TO It as trustee, ex-
acutcr, sd-ntnlatrstor, guaroZsn, receiver,
assignee, o. other trustee as the case may
be Tor each particular trust or FUND by
name ana Immediately entered IN ms
proper books az belonging 70 the par
t!cuIBr trust whose funds have been In
vested therein. ANY, change ~ ~, '-SQe5 IN
b vegIrseut .s1i aIL-be fully seeCf6ed in and IN
der the account OF tbs particulaT trust to
which IL belongs 40 that al truss fGnes
and progertv shall. be readily identified "
any yin. time b oa sny person shall not loan
ried officer or eaPloyet NOR shall any such
officer or employe become, IA any manner
indGbted TO it By Esans Of an oTerdraft,
promissory note, account endorsement
guaranty. or any other contract; nor EhaIl
such corporation establish unrs than one
Office Of deposit nor establish uoE7 maintain
branches . ..--1s-s- $500
Section -2024-77o Any existing trust
company heretofore organized under the
cnce under the provisions Of this sub-chap-
Ter By the adoption by unanimous vote Of