Page:United States Statutes at Large Volume 31.djvu/1356

 1304 FIFTY-SIXTH CONGRESS. Sess. II. Ch. 854. 1901. the proposed corporators, and the intention to make a plication for a charter on a specified day; and the proof of such publication shall be presented with said certiicate when presentation thereof is made to R rd hm said Commissioners. v m,°°° mg ° °”‘ Sec. 719. Rnconnmc cnmztrmz, AND so ronru.-—If the charter be granted as aforesaid, it, together with the certificate of the Commissioners granting the same indorsed thereon, shall be filed for record in the office of. the recorder of deeds for the District of Columbia, and shall be recorded by him. On the filing of the said certificate with the said recorder of deeds as herein provided, approved as aforesaid by the said Commissioners, the persons named therein and their successors shall thereupon and thereby be and become a body corporate and politic, and as such shall be vested with all the owers and charged _ with all the liabilities conferred upon and imposed) by this subchapter P'°""’°‘ upon com anies organized under the provisions hereof: Provided, t,§§*{,°§§,,‘,‘},’{f,e‘;{°° by hmmm-, '1`Ehat no corporation created and organized under the provisions hereof, or availing itself of the provisions hereof as contained in section seven hundred and twenty-five, shall be authorized to transact the business of a trust company, or any business of a iiduciary character, until it shall have tiled with the Comptroller of the Currency a g copy of its certificate of or anization and charter, and shall have obtained from him and Bled the same for record with the said recorder of deeds, a certificate that the said capital stock of said company has been paid in and_ the deposit of securities made with said Comptroller, in the manner and to the extent required by this subchapter. w{’°mp"°“"“· ’°"°’“ Sec. 720. Rnroncrs ro COMPTROLLER.r——All companies organized m¥§€§éi§<·=¢¤- hereunder, or which shall, under the provisions hereof, become entitled ’pP` ’ -to transact the business of a trust company, shall report to the Comptrollerof the Currency in the manner prescribed by sections fifty-two hundred and eleven, fifty-two hundred and twelve, and fifty-two hundred _and thirteen of the Revised Statutes of the United States in the case of national banks, and all acts amendatory thereof or supplementary _ thereto, and with similar provisions for compensating examiners, and '§{"i§‘fi“sl,§°§'§§ °,§_ shall be subject to like penalties for failure to do so. . The Comptroller _1°13q shall have and exercise the same visitorial owers over the affairs of the said corporation as is conferred upon Ifiim by section fifty-two ‘ hundred and forty of the Revised Statutes of the United States in the case of national banks. He shall also have power, when in his opinion it is necessary, to take possession of any such company for the reasons and in the manner and to the same extent as are provided in the laws of the United States with respect to national banks. m§;,’,i§iI§eS_P°W°” of Sec. 721. SPECIAL PoWERs.—All companies organized under this subchapter are hereby declared to be corporations possessed of the powers and functions of corporations generally, and shall have power- —<=<>¤t¤~<=i>¤- First. To make contracts. . . —¤¤¢ andbesued- Second. To sue and be sued, plead and be impleaded, in any court as fully as natural persons. "S°*“· Third. To make and use a common seal and alter the same at pleasure. —*°*‘““· . Fourth. To loan moneg. ¢ and every description which may be committed or transferred to them, _ and to accept the office and perform the duties of receiver, assignee, executor, administrator, collector of estate or property of any dece- ·‘ dent, guardian of the estate of minors with —the consent of the guardian of the person of such minor, and committee of the estates of lunatics · and idiots whenever any trusteeship or an such office or appointment is committed o1=transferred to them, witllr their consent, any person, body politic or corporate, or by any court in the gistrict of Columbia; and all such companies organized under the first subdivision
 * j‘$(,‘,§{*I§’,;’,§*,f,;S,‘l§‘(}§§; Fifth. When organize under subdivision one of section seven huners6i.ew- ’ dred and fifteen of this subchapter, to accept and execute trusts of any