Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1923-03-15

ofawn by any person who has funds
on deposit to meet the same, notwith-
standing the death Of the drawer In the
interval OF time between signing such
oroer ana its Presentation for payment
wnen said Presentation is made within
thlrty days after the date Of such or
uer' ana at any subsequent period pro-
vIuco the corporation has not received
actual notice Of the death Of the
drawer"
amend said Senate Document No. 100
aurther by adding at the end OF Section
20 the following. VIZ: mo deposit ac-
count payable to two or more persons
OF the survivor or SURVIVORS shall here
atter DE opened in any bank, savings
oank or trust company. and no shares
SO payable shall hereafter be issued
py any loan and building association,
unless and until the person opening
sucn account or taking such shares
snail nle with such bank or associa-
tion written statement that each Of
such depositors or share holders has a
present bona f1de legal interest there
III. and that such account is not onencd
or SUCH shares taken out for the pur-
pose OF transferring title to the same
OF any part thereof after the decease
VI any OF the joint depositors or share
noiders, nor for the purpose of evading
the inheritance tax laws of this State"
so mat said section as amended shall
read as follows: viz:
hen a deposit has been made or
snail M CATER be made in any bank
institution for savings. trust company,
or loan and building association trans
acting business in this State, i'm the
| names OF two persons. payable to
either. or payable to either Of the sur
NlVors. such deposit. or any part there
OF, or the interest or dividends thereon,
may ne paid to either or said persons,
Whether the other be living or not. or
10 the legal representative of the sur
NlVor OIL SAID persons, and the receipt
or acquittance of the person to whom
sald payment is so made shall be a
valid and sufficient release and dis
| charge to such bank, institution for
savings. trust company or loan and
building association, for any payment
SO made. No deposit account payable
| TO two or more persons or the survivor
| or survivors Shall hereafter be opened
IN any bank, savings bank. or trust
| company, and no shares SO payable
snail hereafter be issued by any loan
anT building association, unless and
until the person opening such account
or taking such shares shall file with
such bank or association a written
statement that each of such depositors
| or share holders has a.present bona f1de
| legal interest therein. and that such
| account is not opened or such shares
| taken out for the purpose Of transfer
ring title to the same or any par.
| thereof after the decease of any of the
Joint depositors or share holders, nor
for the purpose of evading the in
hcritance tax laws Of this State"
| On further motion by the same sen.
ator the amendment was tabled and SOC
copies ordered printed, pending adop-
ton Of the same.
On motion by Mr. Spcirs Of Cumber-
| land. II. u. 2SS. An Act to promote the
production and sale of certified seed
and to protect the branding thereof
and repeating Chapter 141. Public Laws
of 1917. was taken from tho table.
On further motion by the same SEN
ator, the bill was passed to be en-.
crossed in concurrence.
The PRESIDENTS: There is another
matter that has come over from the
House. An Act to amend Section of
Chapter III of the Revised Statutes. as
amended. relating to the compensation
| of judges upon retirement.
| On motion hy Mr.. Hinckley Of Cum
berland, the bill was passed to be
enacted in concurrence.
| On motion by Mr.. Wilson Of Aroos-
| took,
Adjourned until tomorrow morning
! at 8 O'Clock,