The Bridgeport evening farmer., 1913-04-19

| ing commission. Said banking com ] mission shall hear all persons who appear and desire to be heard. If
 a majority of said banking commits l sion shall find that public convenience and advantage will be promoted by esta bHshing a bank a trust com pany in such town or city, said bank 1 ing commission shall issue a certif1- cate of authority to the persons nam i ed in the organization certificate pro- vfded for in this act, or to such num- l Der of them with other persons as the majority of those named in the or ganization certificate shall in writing g approve, which certificate shall au- | thorize the persons named therein to | become 8 corporation subject to the provisions of this act, but no person shall be named in such certificate Of authorization who shall not have ac- | knowIedged the declaration required 1 by section one of this act. The bank 1 commissioners shall transmit a copy l of such certificate of authorization to | tha secretary of the state, and to the i town clerk of such city or town, who shall file and attach the same to the 1 organization certificate previously fl- ed in their respective offices. and the
 bank commissioners shall retain a copy of such certificate.
 Sec. 6. Before issuing a certificate of authorization to such corporation the banking commission shall exam inc or cause an examination to be
 made to ascertain whether the capi- tai of such corporation has been duly
 subscribed and paid for in cash, and
 if it shall appear that the capital has not been so subscribed and paid for, such certificate of authorization shall rAot be granted. No such corporation shall commence business until such certificate of authorization has been granted as herein required.
  ness such bank or trust company shall file with the bank commission CTS and with the secretary of the state a list of it's stockholders giving the name. residence, postoffice ad-
 dress, and number of shares of stock
 held by each. Said list shall be veri- fled by the president and treasurer of
 such corporation, and said company shall pay to the treasurer of the state Q charter fee of one dollar for each one thousand dollars of the au-
 thorized capital stock, and a further
 fee of ten dollars for filing the papers required by this act.
 Sec. 8. When such certificate of authorization shall be filed, the per
 sons named therein and their success sors shall thereby be authorized to
 commence business a corporation in such town or city. Such corpora ton shall have power to transact
 general banking business. and to re- ceive on deposit, or for safe-keeping, or otherwise, all kinds of personal property including money, papers, documents and evidences of debt on such terms and conditions as may be agreed upon. Such corporation
 may receive on deposit public funds,
 or money held in a f1duciary capacity. it may loan money secured by real estate mortgages located in this state or on personal security; it may pur- | In this state, provided not more than twenty five per centum of the capital surplus, and undivided profits of any such corporation shall be at any time invested in real estate and not more than twenty-five per centum of It's comm ercial deposits shall be loaned
 on real estate security, but this Iinai- tatiOn shall not apply to funds held by any state bank or trust company in it's savings department. Such cor poration may be appointed to act as eXecutOr, administrator, or trustee of the estate of any person, or as guard ian or conservator of the estate of any ward, but not of the person of any ward, and may act as agent, reg istrar, fiscal agent, or trustee of any corporation or holder of bonds, notes or other securities, and as depository
 of court and trust funds
 Sec. g. All banks and trust com panies organized under the provisions of this act shall be supJect to the provisions of the general statutes re- lattng to state banks and trust com panies. All banks and trust com panies engaged in business at the time of the approval of this act shall possess all the powers and be sub ject to the provisions of this act, ex-
 cept in so far as they may be incon- sistent with the provisions of their respective charters.
 Sec. 10. The charters of banks and trust companies under which or ganization has not been perfected, and the charters of corporations which have not actually commenced