The independent-reporter. [volume] (Skowhegan, Me.) 1909-1955, 1917-04-12
CHAPTER II3.


AN ACT to Amend Section Twenty
two of Chapter Fjfty-two Of the Re-
vised Statutes with Reference to
Deposits In Savings Banks and In
Be II enacted. etc:
Section /. Section twenty-five of
chapter nfty-two OF the revised
statutes Is hereby amended by strik-
ing out the words but shall not re-
celye from any one deposition. direct
dollars. and no interest shall be paid
To any one deposltor for any amount
of deposit. all dividends included ex-
caedinR said sum erCent for deDnsiis
executors. guardians. charitable instI-
tutions and as trust funds" and in
sorting In the place thereof the fol-
lowing; but shall not receive. except
for deposits Of unmarried women.
minors administrators. executors.
guardians. charitable or religious In
situations and as trust funds. from
any one deposition over hye thousand
dollars. and no dividends shall be paid,
excepting upon the aforesaid excepted
dc posits TO any one depositor upon any
amount OF deposit exceeding said sum,
but exclusive OF dividends on said de-
posit. which may continue 10 be added
thereto and receive div idends thereon.
Deposits In more than one name may
be received. provided the total of the
amounts in any number OF deposits In
which the same name, excepting I'M
married women, minors. adm inistra-
tors. executors guardians. charitable
or religious institutions and as trust
funds. appears either singly or with
others. shall not exceed exclusive of
dividends as aforesaid, ten thousand
dollars. and also provided the amount
OF an individual deposit ehall at no
time exceed, exclusive Of dividends as
aforesaid. Ave thousand dollars 30
that said section as amended shall
read as follows:
Section az Savings banks and in
stitutions for savings may receive on
deposit for the use and benefit OF de-
positors. sums OF money offered for
that purpose but shall not receive,
except for deposits Of unmarried wom-
en-. minors. administrators. executors,
guardians. charitable or religious In
stitutions and as trust funds. from
any one depositor over Ave thousand
dollars. and no dividends shall be paid.
excepting upon the aforesaid excepted
deposits to any one depositor upon
any amount of deposit exceeding said
sum but exclusive of dividends on
said deposit which may continue TO
be added thereto and receive dividends
thereon. Deposits in more than one
name may be received. provided the
total of the amounts in any numb
OF deposits In which the same name.
excepting unmarried women. minors.
administrators. executors. guardians,
charitable or religious Institutions and
as trust funds. appears either singly
or with others. shall not exceed. ex-
elusive of dividends az aforesaid. ten
thousand dollars. and also provided
the amount of an individual deposit
shall at no time exceed. exclusive of
dividends as aforesaid. i've thousand
dollars. Whenever deposit is made
In trust the name and residence OF
the person for whom II is made, or
the purpose for which the trust Is
created shall be disclosed In writing
to the bank. and the deposit shall be
credited to the depositor as trustee
for such person or purpose; and II no
other notice OF the existence and
terms of a trust has been given in
writing to the corporation. the deposit.
with the interest thereon, may, in the
event of the death OF q trustee. be
paid to tho person for whom such de-
post was made. or to his legal repre-
sentative. or TO some trustee appoint
cd by the court for that purpose. The
trustees may refuse any deposit at
their pleasure
IApproved March 20, 1917