Banking Law of New York, Chapter 2 of Consolidated Laws, Chapter 369, Laws of 1914

Cover Banking Law of New York, Chapter 2 of Consolidated Laws, Chapter 369, Laws of 1914
Banking Law of New York, Chapter 2 of Consolidated Laws, Chapter 369, Laws of 1914
Morgan, George Wilson, 1875-
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516.
VOLUNTARY DISSOLUTION.— A state bank was converted into a na- tional bank. It did business as such for about ten years, when it voluntarily dissolved. Many years thereafter an action was* brought against both the state bank and the national bank. Held, that service of summons on the former cashier of the bank was of no effect, and should be set aside. Hayden V. Bank of Syracuse, 15 N. Y. Supp. 48.
§ 138. Change from state bank to tnut company.
Any bank may become a trust company with all t
...he powers and subject to all the obligations and duties of trust companies organized under the provisions of article five of this chapter.
A bank desiring to become a trust company shall proceed in the following manner: 1. It shall call a meeting of its stockholders upon not less than twenty days' written notice to each stockholder, which notice shall be served personally or by mail, postage prepaid, directed to each stockholder at his last known post-office address, and shall contain a statement of the purpose for which such meeting is called.


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