Vilas County news. [volume] (Eagle River, Vilas County, Wis.) 1896-1927, 1909-07-21
No. 4S5, ST. Published May 27, 1909.
CHAPTER 1875, LAWS OF 1909.

No. 4s5, 81 Published May 81, 1909.
CHAPTER 1873, LAWS OF 1909.
AN ACT to amend chapter "a of the
by adding a new sub-chapter pertaining
sections 1222k and 17e1d to 17sn-6,
The people of the State Of Wisconsin, rep
resented In Senate and Assembly, do en-
act as follows,
chapter 81 of the statutes shall hereafter
be designated and known sub-chapters
s and vi respectively .daed 80 cn.nt.r
of the statutes a new sub-chapter to be
fesgnasseSS and known 10y as ehaRter ~ sec
and to read as follows:
CHAPTER Nv.
TRUST COMPANY BANKS.
Section 2024-77i. Trust company banks
may be organized pursuant to the provi-
sions Of sub-chapter II. entitled Estate
Banks" and shall be subject to all the pro-
visions, requirements and liabilities of sub
eept Sections ane 2oasa 1a and and
except as otherwise hereinafter provided.
shall e BE- liked dan and limited By the articles
of association, and must be at least one
hundred thousand dollars. and not to ex-
coed five million dollars, except that in
cities Of less than one hundred thousand
Inhabitants it may be less than one hun
dred thousand dollars. but 1t shall not be
less than fifty thousand dollars.
Section 2O2H77j Before any such cor
poration shall commence business 1t shall
deposit with the state treasurer not less
than fifty per centum Of the amount of Its
capital stock, provided, however, that no
such corporation shall be required to deposit
more than one hundred thousand dollars,
such deposit to be In cash, bonds, or mort
cages, or notes and mortgages on unencum-
bered real estate within this state worth
double the amount secured thereby. or pub
lie stocks bonds of the United States, or
of any state of the United States that has
not defaulted on Its principal or interest
within ten years Immediately preceding the
date Of such deposit or Of any county
town, village, or city In this state and
upon all which bonds and other securities
there shall have been no default In the pay
period than thirty days; which cash,
bonds, mortgages or notes and mortgages,
public stocks or bonds shall be ap-
proved by the commissioner of banking and
as security for the faithful execution Of
any trust which may be lawfully imposed
upon and accepted by 1t; such corpora
tion may from time to time withdraw the
said securities as we'll as the cash. or any
part thereof provided that securities or
cash of the amount and value required by
this section shall, at all times, during the
existence of such corporation remain in
the possession of the state treasurer for
the purpose aforesaid and until otherwise
ordered by a court of competent Jurisdic-
ton The said treasurer shall pay over TO
such corpora ton the interest, dividends,
or other income which he shall collect upon
such securities, or he may authorize the
said corporation TO collect the same for its
own benefit. Upon such deposit being made
and approved the state treasurer shall
issue a certificate of such fact and an
amount equal to the sum stated In such
certificate shall remain with him in the
manner provided above; In case ths capital