Regulations Governing the Deposit of Postal Savings Funds in Banks And the Acc
Regulations Governing the Deposit of Postal Savings Funds in Banks And the Acc
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The hoard of trustees shall taJce from such hanlcs such security in puhlic honds or other securities, supported hy the taxing power, as the hoard may prescribe, approve, and deem sufficient and necessary to insure the safety and prompt payment of such deposits on demand. The funds received at the postal savings depository offices in each city, town, village, and other locality shall he de- posited in hanlcs located therein {substantially in pro- portion to the capital and surplus of each such h...anlc) willing to receive such deposits under the terms of this act and the regulations made hy authority thereof, hut the amount deposited in any one hanlc shall at no time exceed the amount of the paid-in capital and one-half the surplus of such hanlc. If no such hanlc exist in any city, town, village, or locality, or if none where such deposits are made will receive sucJh deposits on the terms prescribed, then such funds shall he deposited under the terms of this act in the hank most convenient to s-uch locality.
What to read after Regulations Governing the Deposit of Postal Savings Funds in Banks And the Acc?
You can find similar books in the "Read Also" column, or choose other free books by United States Post Office Dept Postal Savings Sy to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
The hoard of trustees shall taJce from such hanlcs such security in puhlic honds or other securities, supported hy the taxing power, as the hoard may prescribe, approve, and deem sufficient and necessary to insure the safety and prompt payment of such deposits on demand. The funds received at the postal savings depository offices in each city, town, village, and other locality shall he de- posited in hanlcs located therein {substantially in pro- portion to the capital and surplus of each such h...anlc) willing to receive such deposits under the terms of this act and the regulations made hy authority thereof, hut the amount deposited in any one hanlc shall at no time exceed the amount of the paid-in capital and one-half the surplus of such hanlc. If no such hanlc exist in any city, town, village, or locality, or if none where such deposits are made will receive sucJh deposits on the terms prescribed, then such funds shall he deposited under the terms of this act in the hank most convenient to s-uch locality.
What to read after Regulations Governing the Deposit of Postal Savings Funds in Banks And the Acc?
You can find similar books in the "Read Also" column, or choose other free books by United States Post Office Dept Postal Savings Sy to read onlineMoreLess
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