Banks which are incorporated under the State laws are designated and called State banks, deriving their power and authority from the laws enacted by the State. All incorporated banks obtain their powers directly from the statute laws authorizing their creation. These powers or rights are denominated and called statutory or expressed powers. They have also inherent, incidental, and implied powers, such as are necessary to carry out and into effect the full purposes the corporation. of The author. has endeavored, in the treatment of the subject, to define these various powers, and laws, which control and regulate the business of banking. An earnest effort has been exerted to present the law and demonstrate what a banking corporation can, or cannot, do. With this object in view all the leading cases reported, involving the rights and powers of a bank, have been reviewed and considered; and when deemed expedient the opinion of the court, as rendered in the case, has been quoted in full. This plan has been adopted for the reason that an analysis of the cases or opinion of the court frequently fails to correctly express and record the law as rendered by the court. In other instances the law principle is simply and plainly stated, and supported by citation of cases rendered by the court. And as a result, the production of this work, which may rightfully be called a ready reference or working book on banking. It is also designed and was originally intended to be a digest of the law and a work for the busy lawyer, to be used in the practice, determination, and settlement of questions arising and growing out of the business of banking and in the trial of bank cases. The author has given unlimited time and care to the selection and compilation of cases directly in point, and the labor thus performed is labor saved to the busy practitioner. All subjects and questions of importance relating to, and affecting banks and banking, are presented, including a chapter devoted to (each) The Clearing House and Trust Companies. A chapter has also been added entitled Inspection and Examination of Banks. This chapter is a discussion in a general way of the procedure and mode required to be followed by the examiner in the examination and checking up a bank. The appendix to the work contains all the laws of the Na tional Banking Act in force at the present time. In addition thereto complete and full instructions are given relative to the organization of national banks. In conclusion this work is respectfully submitted upon its merits, with the hope that it may prove (itself) to be a correct guide to lawful and honest banking, and a text-book invaluable to the banker, lawyer, and student. PASADENA, CAL., January 2, 1906. H. W. MAGEE. TABLE OF CONTENTS. Section 6. Commercial and savings bank.. 7. General definition of banking 8. When a broker becomes a banker. THE ORGANIZATION OF BANKS AND PROOF OF CORPORATE EXISTENCE. Section 20. Preliminary steps Organization of national banks... [References are to pages and sections.] Section 33. Power to make, inherent in corporations.. 35. Power delegated by statute. 71. Representatives of deceased shareholder liable. 73. Executors, administrators, guardians, or trustees not per- 78 |