Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1909-08-13


amount Of SUCH deposit shall be increased
or diminished To comply herewith and
new certificate of such fact shall be issued
ton shall have the blowing powers
First. To maketall contracts necessary
duct it's business.
Second. To sue and be sued. TO appear
and defend in all actions and proceedings
under It's corporate name to the same ex-
telt as q natural person
Third. To have q common seal and alter
the same at: pleasure.
Foerth To elect or appoint all neces-
sary officers, agents. and servants, to de
fire 'ther duties ond obligations, fix their
eonpensa tisGs,: dismiss Them I'LL vacancies
FIFTH 70 make. amend: and repeal by
laws and feguldt.o not inconsistent win
law Or ttssartiGIeS or 'orga nizatiof. for its
own government. for the GslierIy conduct OF
its affairs 9nd= the management of its prop
ertY Tor determining the manner OF calling
office OF its several officers ana such
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 for. re-convey, and
dispose OF any effects and property. real or
transferred, conveyed to it with it's CON-
sent, upon any terms, or upon any trust or
trusts at any time, by any person or per
sons, including married women and minors
bodies corporate. or any court, lneIudng
the courts of the United States. and to adj
minister, fulfill, land 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 orr: dtsposing OF any OF their
property or effects, personal or real; ana
when, any money OF 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 as agent attorney for the trans.
action of business, the management of
estates, the collection of rents: interests
dividends, mortgages, bonds, bills notes
as agent for the purpose of issuing nego-
tiating, registering, transferring, or counter
signing certificates of stock, bonds, or other
obligations of any corporation. association,
or municipa lily, Sand manage any sinking
fund therefor, on such terms as may be
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,
lunatic, or any person subject to guardian
ship; and in all cases in Which appIlca-
ton shall be made to any court for the ap-
pointmfnt of any person in any such capac-
ity it shall be lawful to appoint sush cor
p0ration with its consent to hold Such
Office Offices.
IN case of such appointment, or in case
such corporation shall be named as an
executor in. any will or as assignee in any
assignment for the benefit of creditors it
shall not be required to make and tile any
oath give any bond or security, except
in the discretion of the court making such
appointment, or having jurisdiction of such
will or assignment.
The accounts of said corporation as such
trustee receiver, assignee, executor, admin
istTator, or guardian shall be regularly
settled and adjusted by the proper officers
or tribunals; and all proper, legal. usual
and customary charges, costs and expenses
shall be allowed to such corporation for the
care and management of the estate SO COM
nitted to it, ..> '.
Any such. corporation may transfer to
rust estatesN without mourning any other
legal liability than as if such transfer were
made by a, third person any mortgages or
witIf the requirements eff legal investments
for. trust funds under the statutes.
Such corporation may loan money upon
real estate and upon securities other than
personal notes or commercial paper or OBJ
legations secured solely thereby, may re-
ceive time, deposits and issue Its notes.
tons therefor, payable at a future date
only, not earlier than thirty days from the
date of such deposit; it shall not receive
deposits subject to draft, order,r or check,
or payable upon demand, issue bills to cir
culate as money or deal in bank exchange
All such deposits SO: received snail at an y
times be held or invested separate from
other funds or property held by the corpo-
ration and Ii case of insolvency or nquida->
LlOU all Sucl 1uQQS ana investments ndQS
,therefrom shall be primarily liable, and
used for the payment Of such deposits.
ANY such corporation may take and re-
ceive from any Individual or corporation
for safe keeping and Storage gold and silver
plate, jewelry, money, stocks, securities, and
other yaluabes or personal property and
rent out the use of safes or other recep-
taGles upon its premises upon, such COM
pensation 3as may. be agreed upon. Such
corporation shall have q lien for its charges
on any gold or silver plate, tewelry, money!
ctrS other ValuaDlSS
personal property taken or recelVed by II
for safe keeping, and in case such lien snail
not be paid within two years from the cate
it accrues, or In, case any property SO taken
or received by it Shall mot abe called for by
the person or. persons deposltlng the same,
or his or their legal representatives or as
sighs within two years from. the date of
the accruing of any lien upon the same
such corporation may sell such property at
public auction upon like notice as is re-
Quired by law for sales of personal prop
city on execution and after retaining from
8 the proceeds of such sale all the liens ana
charges due and owing and the reasonable
expenses Of the sale, shall pay the balance
thereof to the person or persons SO &C.
posting such property, or his or their legal
It shall be lawful for any such corpora
ton to lease, purchase. hold, and convey
such land as may be necessary 70 f Gerry o0 Oh
mitted to it, as WE'LL as such real or per-
sonal estate as 1t may deem necessary to
ACQUIRE in the enforcement or settlement OF
any claims or demands arising out of It's
business transactions, and to execute and ID
issue in the transaction of it's business all
necessary receipts, certificates and con-
tracts, which shall be signed by such per
son or persons as may be designed by lts
0SS section 2o2A77l Every such corpora
ton shall. at all times, have in its posses
sion, in lawful money. or subject to call in
any banking institutions approved by the
commissioner of banking. a reserve fund of
not less than fifteen per cent of its de-
posits.
Section 2024-s77m. Every such corpora
ton. shall keep its trust accounts in books
separate from its own general books OF &C 6.
count All funds and property held by 1t
in trust capacity shall at all all times be
of the corporation, and all deposits, by It Of
such funds in any banking institution shall
be deposited as trust funds to its credit as
trustee, and not otherwise Every security
in which trust funds or property are IN
vested shall, at once, upon the receipt
thereof be transferred to it as trustee ex
assignee, or other trustee as the case may
be for each particular trust or fund + BY
proper books as belonging to the par