Page:United States Statutes at Large Volume 26.djvu/682

 628 FIFTY-FIRST CONGRESS. Sess. I. Ch. 1246. 1890. receiver, administrator, committee, or guardian, with the consent of uma. _ the guardian of the person of such minor: Provided, however, That no court or judge who is an owner of or in any manner financially interested in the stock or business of such corporation shall commit gytorder or decree to any such corporation any trust or fiduciary u y. N¤¤¤¤¤¤¤W¤•*h*0b° Sec. 9. That whenever an cor oration operatin under this act `°°k°° by °m°"` shall be appointed such trusrtee, Iexecutor, adminigtrator, receiver, assignee, guardian, or committee as aforesaid, the president, vicepregident, secrletary, or treasurgrb og said qpampapy lshall take the oat or aiiirma ion now require y aw o ma e any trustee, _ _ executor, receiver, assignee, guardian, or committee. y .,,,,Ij‘“,{*,f2’,  Suc. 10. That when any court shall appoint the said company a ·¤r¤¤w¤.¤w- trustee, receiver, administrator, or such guardian, or committee, or shall order the deposit of money or other valuables with_said company, or where any individual or corporation shall appoint any of said companies a trustee, executor, assignee, or such guardian the capital stock of said company subscribe for or taken, and all property owned by said company, together with the liability of the stoc - holders aud_ofticers as herein provided, shall be taken and considered 3* €£° S"°‘?f§K.t°1‘}$“‘i§}"{ Writ? t*‘°..£3“h€“1 ,*?`.3"P’“i‘€‘“‘iI’ €I£.‘” u s,an a ue em eo an eau wa er. ,St?¤3] SEC 11. That any safe deposit company, trust company, surety or ucrtlusncr. guaranty company, or title insurance company, now incorporated and operating under the laws of the United States or of the istrict of Co umbia, or any of the States, and now doing business in said District, may avail itself of the (provisions of this act on filing in the office of the recorder of dee s of the District of Columbia, or with the Comptroller of the Currency, a certificate of its intention _m_{r¤¢}<>¤w to be to do so, whic certificate shall pecify which one of the three classes _ of business set out in section one it will carry on, and shall be veriiied by the oath of its president to the effect that it has in every resplect complied with the requirements of existing law, especially wit the provisions of this act; that-1tS capital stock_1s paid in as T’<>··¢~1>-¢¤¤- provided in section twenty-one of this act and is not impaired, and thereafter such company may exercise all powers and perform all dluties authoigsed byt any one of the subdivpsipns of sectipn one olf t is act in a ition o the powers now aw ·u y exercise by suc ` company. _,,,”§j"‘,Q§,,,,,""‘,,‘§“§,§ Sec. 12. That anhy company operating under this act may lease, mia purchase, hold, an convey real estate, not exceeding m va ue five undred thousand dollars, and such in addition as it may acquire in satisfaction of debts due the corporation, under sales, decrees, judg- Tm] M ments, apd mortgages. t But lno inch lassociattion shtall hold the ppp- · · session o any rea es a e um er orec osure o mo gage, or e 1 e pndtppssessfon of any rgahlestage purchased to secure any debts due o 1, or a onger perio t an ve years. D“"‘“°“ °' °’““" Sec. 13. That the charters for incorporations named in this act 'wrs. may be made perpetual, or may be limited in time by their provis- C8 w ions, subject to the approval o Congress. p' “°°"· Sec. 14. That the capital stock of every such company shall be at least one million dollars, and at least fifty per centum thereof must hmm have been paid in, in cash or by the transfer of assets as hereinafter _ provided in section twenty-one of this act, before any such company ` shall be entitled to transact business as a corporation, except wit 1llS own members, and before any company organized hereunder shall be entitled to transact the business of a trust company, or to become and act as an administrator, executor, guardian of the estate _ _ of a minor, or undertake any other kindred iiduciagy duty, it shall t,._?{§{.°s{§,“$e°°g,';,¤;j deposit, either in money or in bonds, mortgages, eed 0 trust, or muy. other securities equal in actual value to one-fourth of the capital stock paid in, with the Comptroller of the Currency, to be kept by