River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1909-07-15


amount Of such deposit shall be increased
or diminished to comply herewith and a
new certificate Of such fact shall be issued
Section 2024-77k. Any such corpora
ton shall have the following powers
FIRST To make all contracts necessary
duct its business
Second. TO sue and be sued to appear
and deIend IN all actions and proceedlngs
under It's corporate name to the same ex-
tent as natural person.
Third To have a common seal and alter
the same at pleasure
Fourth. 10 elect or appoint all neces-
sary officers, agents, and servants; to de-
fine their duties and obligations, fix their
compensations dismiss them, I'LL vacancies.
Fifth. To make amend, and repeal by
laws and regulations not inconsistent with
law or it's articles or organization, for its
own government. for the orderly conduct Of
It's analrs and the management OF us prop
erty, for determining the manner OF calling
and conducting its meeting, the tenure OF
ONCE OF It's several officers; and such
others as shall be necessary or convenient
for the accomplishment of its purpose.
Sixth ANY. such corporation shall nave
power, In and by its corporate name, TO
take, receive, hold, pay for, re-conyey, and
dispose Of any effects and property. real or
personal, which may be granted, comimltIeo'
transferred, or conveyed to 1t with It's con-
sent, upon any terms, upon any trust or
trusts at any time, by any person or per-
sons, including married women and minors,
bodies corporate. or any court, including
the courts Of the United States. and to adj
minister, fulfill, and discharge the duties OF
as NAV be agreed unon. Nothing herein
shall be held or construed TO give minors
or married women any other or dlHerenC
power or right than they now nave as 70
transferring or disposinge of any OF their
property or effects, personal or rear ana
when any money or other properly 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 2o24-46, and the receipt
of such minor or married woman sha4i nave
the effect provided In said section.
And any such corporation may act gen.
orally as agent or attorney for the trans
estates, the collection Of rents, interests,
dividends, mortgages, bonds Dllls. notes,
and other securities, Or moneys, ana also
tiating, registering transferring, or counter
signing certificates of STOCK bonds, or other
obligations of any corporation. assoc!aIion.
fund therefor, on such terms as may be
agreed upon and may also accept ana exc
cute the offices Of exeeutQr,y iaornlnlsIralor;
trustee, receiver, assignee, or guarulan o1
any minor or insane or incompetent person,
lunatic,e or any person subject to guardian
ship; and in, all cases In when gappiicer
.pointment of any person In any Euch capecS
fly, 1t shall be lawful to, appoint such coz
pora tfon. with it, consent 20 aneta Bacn
ounce or OUNCES. tsYn.af me- 80 iG.S 'ss335ssI
such corporation shall. be named as an
executor in any will or as assignee In any
asslgnment for the benefit 11 eredlsG fa snT
oath or give any bond or security except
in the discretion, of the court making sucn
appoantment e. egahayinS juEtsai OF such
The accounts of said corporation as such
trustee, receiver, assignee. executor ADMIN
istFstor, Sr guardian sas1i 6s reg gSiasIg
or tribunals and all: proper, legal. usual,
and customary, charges. costs and expenses
shall be allowed to sunn corporHGter for rne
Any such corporation may transfer to-
trust ESTATES without ineurr9g any Gsass
made by a third person any mortgages or
other securities owned by it which comply
With the requirements OF legal investments
Such corporation may loan money upon
real estate and upon securities, .othsr than
personal notes Of co comm paper OF Cd
ceiye time deposits and Issue it1 notes.
certificates, debentures, and other ohliga-
lions therefor payable , at iar@ 1e o AYE
date Of. guch deposit; It shall not receive
deposits subject to draft, order, or check,
or payable upon demand issue bills to cir
cuiate as money, Or deal in bank exchange:
All such deposits so received shall at all
times be- h6ld or invested separate from
Ssass FUNDS Snd ~ or PSf % srG
ton ali such funds and Investments made
therefrom shall be primarily liable ana
u@ed 10s sse o. aDS re-
caiva from any individual or corporation
for safe keeping and storage gold and silver
plate. iewelry money, stockg' secgra1aess ana ,9
rent cut the ure az safes or other recep
tacles upon Its promises upon such COM
corporation shall have lien for its charges
on any gold or silver plate, Jeweiry, money,
stocks, securities and other valuables and
personal property taken or received py "
Tor safe keeping. and in case such lien shall
not be paid within two years from the date
It aocrues, or in caBs any property 90 taken
the person or persons depositin& tho same,
or bis or their legal representatives or as
signs, within two years from the data or
guch CORPORATION may sell such property at
public auction upon Ike notice as is re-
quired by law for sales OF personal prop
ertv on execution and after retaining from
the proceeds OF such sale all the liens ana
charges due and owing and the reasonable
expenses Of the sale, shaft pay the balance
thereof to the" person or persons SO de,
posting such property; or his or their legal
representatives or assigns.
It shall be lawful for any such corpora
tion to lease, purchase. hold, and convey
such land as may be necessary TO carry on
Its business and execute any trust com
mitted to it,s as well as such real or per-
sonai& estate. Els 1t may deem necessary 60
acquire in the enforcement or settlement OF
any sclainIe or demands arising. cut OF it's
business ,trRnsR ctionsgg and to execute and
issue In the transaction Of It's business ell
necessary receipts, certth Gates, and con-
tracts, which shall be- signed by such per
son or persons as may be designed oy It's
Section 2o24--7TI Every such corpora
ton shall, at all times, have In its possess
sion, In lawful money, or subject 20 can IN
any banking institutions approved Dy the
commissioner OF banking O. reserve fund OF
mot less than fifteen per cant. OF its oe-
posfta.gyTA gs, i. .sAsz8 8a5a}4a a
Section 2024--77m. Every such corpora
ition shall. keep tts, trust accounts In books
separate, from Its own general books OF &C.
count ALI funds and property held By It
in a, trust capacity shall, at all times, Do
kept separate from the funds and property
of the corporation, aud all depo5lIs ey lt OF
such funds In any banking institution snail
be deposited as trust funds to Its credit as
trustee, and not otherwise Every security
in which trust funds or properly are ~.
vested. shall at once; upon the receipt
thereof, be transferred to 1t as trustee ex-
iecufor, administrator, guardian, receiver,
assignee, or other trustee as the case may
be Tor each particular trust or fund ~
proper books as belonging 10 the par
ticular trust whose funds have been In
vested therein. any change IN such IN
yestment shall De fully specified In anc I'M
der the account Of the particular trust 60
which it belongs, SO that ali trust rgnds
and property shall be readily identined at
any fims by any person.
Section 2024--77n. It shall not loan
It's funds, trust or otherwise. TO any sala-
ried officer or employee. nor shall any such
indebted to It by means Of On overdraft,
promissory note, account endorsement.
guaranty or any other contract; nor shall
such corporation establish more than one
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