The producers news. [volume] (Plentywood, Mont.) 1918-1937, 1925-04-24

notice to depositor that his account
has been accepted under the terms of
the act. Messrs. Stewart and Brown
counsel for the Montana Bankers As
sociation, and Thos B. Patton, counsel
for the American Bankers Associa-
ton, are studying this question and
accommodation will be sent by the
Association to all members as to the
form of notice which should be used.
1t is expected that the uniform con-
tract heretofore recommended will be
sufficient with the addition of a few
words specifically referring to this
section.
Change of Place of Business
Senate Bill No. 70, which will be
Chapter 81 of the Laws of the Nine
teenth Legislative Assembly, amends
Section 6032 to permit a bank to
change its place Of business either in
the county where it is located or to
any place in an adjacent county.
Investment of Capital of Savings
Banks
Senate Bill No. 10I, which will be
Chapter u of the Laws of the Nine
teenth Legislative Assembly, refers tc
the investment of capital Of savings
banks and permits the investment of
such funds in Federal Land Bank
bonds. AS there are no banks in Mon
tana incorporated strictly as savings
banks, this has no particular impor-
lance at this time.
Increased Capital for New Banks
Senate Bill No. 105, which will be
! (Nh1v,AOra 10 90 %1o 7 6
teenth Legislative Assembly, provides
new schedule OF capital stock re-
quirements and amends Section 6O23
of the Revised Codes of Montana.
/ Hereafter any state bank organized
in Montana must have capital stock
and surplus paid up and deposited
with its reserve agents before appli-
cation is made for charter according
to the population of the city or towr
as disclosed by the last authorized
census as follows:
City or town 1000 or less: Capita
required, $4,000; surplus, $500.
City or town more than 1000, less
than 5000; Capital required, $4,000
surplus $3,5OO
City or town more than 5000, les!
than 1000: Capital required, $4,000
surplus $4,000.
City or town more than 1000, lesi
than 5000: Capital required, $4,000
surplus $4,000.
City or town more than 60OO, les
than 10000: Capital required, $75, 600
surplus $500.
City of more than 10000: Capita
/, 100000; surplus. $4,000.
No savings bank, trust company o.
investment company shall be organ
lied with less than 100000 paid VI
/; capital.
Amendment to Chattel Mortgage Law
House Bill No. 55, which will b.
, Chapter 116 Of the Laws of the Nine
teenth Legislative Assembly, amend
Section 8275 of the Revised Codes O
Z Montana as amended by Chapter 80 O
the Laws Of the Eighteenth Legisla
tive Assembly, to provide that the lie
: of chattel mortgage on crops shal
be subject to the lien for services ren
: dered by threshermen as specified i
Section 1856 of the Revised Codes o
Montana, and shall be subject also t
the lien for seed furnished for tn
purpose of growing the particula
) crop mortgaged as specified in Sec
{ ton. 1859.
Assignment of Real Estate MOrtgag
House Bill No. Ga, which will B
: Chapter IA eff the Laws of the Nine
( teenth Legislative Assembly, provide
, that no assignment of real estat
mortgages may be recorded unles
t such assignment shall contain tn
: post Office address of the assignee.
r Status of Public Deposits
q House Bill No. 225, which will b
4 Chapter 1872 of the Laws of the Nine
r teenth Legislative Assembly, provide
K that state, county and city funds sha
!. not have any preference in the |
r quotation of the affairs of an insolvel
: bank. Under Supreme Court dec
q sions state funds have heretofore bee
e considered a preference claim bl
: city and town funds have had r
: preference. This law does not ami
r to any bank now in process of LIQUID;
\ ton and is not effective until Janua1
1, 1925.
Assessment of Bank Stock
o House Bill No. 228, which will /