The Republican journal., 1919-04-10
CHAPTER io6.

A.. Da,or; .. .h,, .s,,ro+,, E2ori
an 4oe of Irt,s, Comnanies and DO
I SGrI'oi dt ~ ba,ita- fif+ttw9
S,etiioi1 Eiilel! st+,,t tt'S 'eoi
oL me i'e iHeu @'a
Sec. l. No trust company shall en-
gage IN me BUSINESS or actlng as sIrety
on official bonds or bonds tor the per
formance Of other Obligations or guar
a7teelng the 1ldeIitF OF persons M Pc
fluons OF trust private or punli', an
a. the same tfne engaged IN me uuNi-
ness OF receiving on deposit money
COM uahk-notes, evidence OF oeO0' ac-
counts OF lndlEiduaiS, compaAleS' cor
pofattohS' NuhlclpaIItleS Or states, sup
Je 70 meek or paHAnie Oh detildItS.
3ther than deposits lor the payment OF
ing lpnds- But holhlhS IN Inns SecLlos
ShaH Re construed as ehIlrslhs any OIL
the corporate powers OIL any trust coll-
pany'
der the laws OF this state snail be au--
thorlzed to guarantee the fldeiitE OF
persons in positions OF trust private Or
punllc' and 10 act as surety on ofh&lai
obligations. unless it shall have a cap
Ital fully paid: IN. of not less than two
hundred and nifty thousand dollars.
Sec J.. Section ninety OF chapter 1fty-
two Of the revised statutes is hereby
amended by inserting after. the word
and IN the twelfth line thereof the
words in the case of any trust com
paAy when also acts as surety upon
s any Don oe o. or otner 60 onllgauons me
amount OF its assets SO segregated ana
set apart snail be at least fifteen per
cent IN excess OF the aggregate
amount OF such deposits, so that said
sS e' as amended' shall read as fol-
Sec. 30. Every trust company solicit
1 1I5s :, Or reee e.. savings oeposlts wnicf
i ~ De wlIhdraWn only on presentation
" ne pass-p99k or other sihilar form
~ Js ieseip. wn it permits successive de,
tnereoh: or winch at the option o. the
tIUst company may be Withdrawn only
az me expiration Of stated period
aater he aoue 2yive OF intention to Withdraw
W w might LEAD the public to believe
mat such deposits are received or In
x y, ter in the same manner, as deposits
On I bn,ds t oa4Ks or which advertises
s s..,S Y! department. or uses the term
savings" in connection with any part
OF ITS business, shall segregate and set
apart and at all times keep on hand
least equal to the aggregate amount
OF such deposits. and in the case of
any trust company which also acts as
surety upon any bonds or other obli-
segregated and set apart shall be ut
least fifteen per cent in excess of the
aggregate amount of such deposits. The
bank commissioner shall require all such
assets as appear to him to be carried
in excess of their true value to he
charged down to such value ~ De
Sec. 4. This act shall take effect on
the first day Of July nineteen hundred
@1p'N -
An Act N Amend saat; To- No.
Cbanter - s Alnend sectlon One of
St taprel HPS ais.i or the Revised
me 1Iq'e ana HGs anag TO the Assess
Tax eiu Soiieclioh Oh inheritance
That sao.,o -.
nine or s tSa a one OF chapter sixty,
herehv W 10 's ne Tevlsed statutes be and
law exemnt f hrnpert ;ax OF which is by
tom H,,h Cd an a., eieventh lines in said sec
s wi1i' E so 5nas sa1n section as amended.
VIZ! leao as 1oIioWs:
turis ed az ~ Pr. properly within the
iiarastic .h OF tn!s state and any in
i inhab,ta .nereih; .WWhether belonging to
w 1piiaI,eah Is OF TINS state or not, and
S shnI 81, tanglole or intangible, which
snail stiaii pass by Will by the lntestate
i inIsa OF IL TINS s, state, py allowance Of