Page:United States Statutes at Large Volume 53 Part 2.djvu/91

 76TH CONG., 1ST SESS.-CH. 37-APR. 5, 1939 SEC. 4. Whenever a deposit, which is in form in trust for another, shall be made by any person in any bank or trust company doing business in the District of Columbia, and no other or further notice of the existence and terms of a legal and valid trust shall have been given in writing to the bank or trust company, such deposit, or any part thereof, together with the dividends, or interest thereon, may, in the event of the death of the trustee, be paid to the person for whom such deposit was made or to his legal representative. SEC. 5. It shall be lawful for any notary public who is a stock- holder, director, officer, or employee of a bank, trust company, or other corporation to take the acknowledgment of any party to any written instrument executed to or by such corporation, or to adminis- ter an oath to any other stockholder, director, officer, employee, or agent of such corporation, or to protest for nonacceptance or nonpay- ment drafts, checks, notes, acceptances, or other negotiable instru- ments which may be owned or held for collection by such corporation: Provided, That it shall be unlawful for any notary public to take the acknowledgment of an instrument executed by or to a bank or corpo- ration of which he is a stockholder, director, officer or employee, where such notary is a party to such instrument, either individually or as a representative of such corporation, or to protest any negotiable instrument owned or held for collection by such corporation, where such notary is individually a party to such instrument: Provided further, That it shall be unlawful for any notary public to take the oath of an officer or director of any bank or trust company of which he is an officer, or to take an oath of any person verifying a report of such bank or trust company to the Comptroller of the Currency. SEC. 6. No bank or trust company doing business in the District of Columbia shall be liable to a depositor because of the nonpayment through mistake or error and without malice of a check, draft, note, acceptance, or other negotiable instrument, payable at any bank or trust company, which should have been paid unless the depositor shall allege and prove actual damage by reason of such nonpayment and in such event the liability shall not exceed the amount of damage so proved. SEC. 7. Any bank or trust company doing business in the District of Columbia receiving for collection or deposit any check, draft, note, acceptance, or other negotiable instrument drawn upon or payable at any other bank, located outside the District of Columbia, may forward such instrument for collection directly to the bank on which it is drawn or at which it is made payable, and such method of forwarding direct to the payer shall be deemed due diligence, and the failure of such payor bank, because of its insolvency or other default, to account for the proceeds thereof shall not render the forwarding bank liable therefor: Provided, hozoever, That such forwarding bank shall have used due diligence in other respects in connection with the collection of such instrument. SEC. 8. (a) Section 456 of the Act entitled "An Act to establish a code of law for the District of Columbia", approved March 3, 1901, as amended (D. C . Code, title 24, sec. 132), is amended by adding at the end thereof the following new sentence: "The garnishee, in any case in which the property or credits attached or sought to be attached is held by him in the name of or for the account of another than the defendant, shall retain such property or credits during the period pending determination by the court of the propriety of the attach- ment or the rightful owner of such property or credits, and, during such period, shall incur no liability whatsoever for such retention." (b) Section 1090 of such Act, as amended (D. C . Code, title 24, sec. 288), is amended by adding at the end thereof the following new Deposits in trust, payment in event of death of trustee. Notary public hold- ing position, etc., in corporation, acts deemed lawful. Provisos. Where notary is party to instrument. Verification of re- ports to Comptroller of the Currency. Nonpayment of ne- gotiable instruments through error, etc.; liability to depositor. Forwarding of ne- gotiable nstruments for collection. Method deemed due diligence. PPfocio. Duty of forwarding bank. Attachment before judgment. 31 Stat. 1262 . 24D. C.Code§132. Retention of prop- erty held by garnishee for another than the defendant. 31 stat. 1360 . 24D. C. Code 288. 53 STAT.] 567

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