Ladysmith news-budget. [volume] (Ladysmith, Rusk County, Wis.) 1907-1927, 1913-08-22

poration for the care and management Of
the estate so committed to 1t.
(10) Any such corporation may trans
fer to trust estates without mourning any
other legal liability than as il such trans
fer were made by a third person, any
mortgages or other securities owned by 1t
which comply with the requirements OF
legal investments for trust funds under
the statutes.
CID Such corporation may loan money
upon unencumbered real estate lying and
being in the state of Wisconsin and states
Immediately adjoining the state or WIS
consin, to wit: Michigan, Illinois, iowa,
and Minnesota; and upon securities other
than personal notes or commercial paper
or obligations secured solely thefepy'
may receive time deposits ana issue us
notes, certificates deDenJureS, ana Other
obligations therefor, payable at future
date only, not earlier than thirty Gays
from the date of such deposit; 1t sfdH
not receive deposits subject to draft, Or
der, or check, or payable upon demand,
issue bills to circulate as money, Or deal
in bank exchange All such deposits SO
received shall at all times be held or IN
vested separate from other funds or prop
erty held by the corporation, ana In case
OF insolvency or liquidation, all SUCH
funds and investments made therefrom
shall be primarily liable and used for the
payment of such deposits.
Q2) Any such corporation may take
and receive from any individual or cor
poration for safe-keeping and storage
gold and silver plate. jewelry. money,
stocks, securities, and other valuaDles or
personal property; and rent out the use
Of safes or other receptacleS upon It's
premises upon such compensation as may
be agreed upon. Such corporation Snau
have lien for its charges on any gold
or silver plate, jeWelry, money, stocks'
securities, and other ValuableS ana per-
sonal property taken or received by 1t Tor
safe keeping, and in case such lien shall
not be paid within two years from the
date it accrues, or in case any property
so taken or received by it shall not be
called for by the person or persons de-
posting the same. Or his or the1r legal
representatives or assigns, within Two
years from the date OF the accruing of
any lien upon the same, such corpora
ton may sell such property at public auc-
ton upon like notice as is required by law
for sales of personal property on eXecu-
ton, and after retaining from the pro-
ceeds OF such sale all the liens and
charges due and owing and the reason
able expenses of the sale, shall pay the
balance thereof to the person or persons
so depositing such property, or his or
their legal representatives or assigns.
O3) 1t shall be lawful for any such
corporation to lease, purchase, hold, and
convey such land as may be necessary 10
carry on it's business, and execute any
trust committed to it. as well as such
real or personal 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 issue in the trans
action Of its business all necessary re-
ceipts, certificates, and contracts, which
shall be signed by such person or persons
as may be designated by it's bylaws.
Section z. This act shall take effect
and be in force from and after it's pas
sage and publication.
Approved August 2. 1913. Copy Law.