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1911

Comptroller to draw warrant.

otherwise appropriated, to be paid to said Harriet M. Wright and Lizzie B. McCarty to reimburse them for the moneys expended in making said contest according to their respective interests therein.

Sec. 2. That the Comptroller is hereby required to draw his warrant, or warrants, on the Treasurer for the said sum of $533.98 in favor of said Harriet M. Wright and Lizzie B. McCarty, or their legal representative, and the Treasurer to pay the same.

Sec. 3. That this Act shall take effect immediately upon its passage and approval by the Governor, or upon its becoming a law without approval.

Approved June 5, 1911.

CHAPTER 6153-(No. 34).

AN ACT for the Relief of the Newberry Stable Company. Whereas, During the month of January, 1911, an epidemic of Glanders broke out at Newberry, Florida, and the Newberry Stable Company, in order to help in sup pressing the outbreak, and prevent the further spread of the disease in the State of Florida, voluntarily killed and destroyed two infected horses to them belonging. both appraised at more than seventy-five dollars each; and,

Whereas, During the months of January, February and March, 1911, nineteen other horses were condemned and killed by order of the State Board of Health, to suppress the outbreak and prevent the further spread of Glanders in the State of Florida, which nineteen other horses were either owned by said Newberry Stable Company or were sold by them to other parties to whom they, the said Newberry Stable Company were responsible, and all of said horses were appraised at more than seventyfive dollars each; and,

Whereas, Said Newberry Stable Company cannot recover from the State of Florida, under Chapter 5933 of the Acts of 1909, for the value of said animals so killed, because of the same not having been in the State of Florida for one year prior to their condemnation and destruction; and,

Whereas, Said Newberry Stable Company has acted in good faith in said matter, and by their efforts and assistance to the State Board of Health, materially aided in the suppression of the disease of Glanders in the State of Florida; therefore,

Be it Enacted by the Legislature of the State of Florida:

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Section 1. That the sum of fifteen hundred and seventy- Appropriafive dollars be, and the same is hereby appropriated, and tion. the Treasurer of the State of Florida is hereby directed to pay to the said Newberry Stable Company out of the funds in his hands to the credit of the State Board of Health, in full compensation for said animals so killed for said pur

poses.

Sec. 2. This Act shall go into effect immediately upon its approval by the Governor.

Approved June 5, 1911.

CHAPTER 6154-(No. 35).

AN ACT for the relief of Lee Daniell.

Whereas, E. C. Maxwell, Judge of the Circuit Court for the First Judicial Circuit of Florida, upon application of counsel for the parties in the suit of Mary H. Gonzales against W. A. Blount, executor of the estate of M. E. King, deceased, appointed Lee Daniell official stenographer in said cause, under Section 1399 of the Revised Statutes then in effect, and the said Daniell did serve as such stenographer and became entitled to the sum of

1911

Appropriation.

eighty-one dollars and seventy-five cents ($81.75), but the same was not paid because the sum appropriated by the preceding Legislature for the payment of like claims had been exhausted prior to the presentation of his claim.

Be it Enacted by the Legislature of the State of Florida:

Section 1. That there be and is hereby appropriated out of any moneys in the Treasury not otherwise appropriated. the sum of eighty-one dollars and seventy-five cents ($81.75) to be paid to Lee Daniell for the services mentioned in the preamble of this Act.

Sec. 2. That this Act shall take effect immediately upon its passage and approval by the Governor.

Approved June 6, 1911.

Organization requirements.

CHAPTER 6155-(No. 36).

AN ACT for the Incorporation, Powers, Duties and
Liabilities of Trust and Security Companies and to
Regulate the Same.

Be it Enacted by the Legislature of the State of Florida:

Section 1. Five or more persons of full age may form and organize a trust company on the terms and conditions and subject to the liabilities prescribed in this Act. The name of every trust company formed under this Act shall contain the word "trust," but such company shall not bear the name of any other existing corporation of this State; Provided, however, that if such trust company shall be incorporated for the purpose of succeeding any other trust company, such newly formed trust company may assume the name of the trust company which it is intended to succeed; the capital stock of any trust company hereafter organized under the terms of this Act shall not be less than fifty thousand dollars, and shall be divided into shares of one hundred dollars each, all of which shall be paid in in cash before any such

trust company shall be authorized to transact any other business than such as relates to its formation and organization, and such payment shall be certified to the Comptroller of the State of Florida, under oath by the president and treasurer or secretary of the trust company; no corporation organized under this Act shall create more than one class of stock. Hereafter no corporation shall be organized for the purpose of carrying on a trust company business in the State of Florida, except under the provisions of this Act, and no company hereafter organized under any other Act shall use the word "trust" as a part of its name.

Sec. 2. Such companies shall be incorporated in accordance with the General Laws of the State of Florida prescribing the manner and regulating the incorporation of banking companies.

1911

Must be incorporated under banking laws.

ing within

Sec. 3. Every trust company hereafter organized to Powers granted the extent set forth in its certificate of incorporation, Trust Comoriginal or amended, and every trust company heretofore panies comcreated by special charter or organized under any law the provisof this State not inconsistent herewith, whether such Act. powers are set forth in its charter or certificate of incorporation or not, shall have power:

(1) To act as the fiscal or transfer agent of any State, municipality, body politic or corporation, and in such capacity to receive and disburse money.

(2) To transfer, register and countersign certificates of stock, bonds or other evidences of indebtedness, and to act as agent of any corporation, foreign or domestic, for any purpose now or hereafter required by statute or otherwise. (3) To receive deposits of trust moneys, securities or other personal property from any person or corporation, and to loan money on real or personal securities.

(4) To lease, hold, purchase and convey any and all real property necessary for and convenient in the transaction of its business, or which the purposes of the corporation may require, or which it shall acquire in satisfaction or partial satisfaction of debts due the corporation under sales, judgments or mortgages, or in settlement or partial settlement of debts due the corporation by any of its debtors.

ions of this

1911

(5) To act as trustee under any mortgage or bond issued by any municipality, body politic or corporation, and to accept and execute any other municipal or corporate trust not inconsistent with the laws of this State.

(6) To accept trusts from and execute trusts for married women in respect to their separate equitable property, and to be their agent in the management of such property, or to transact any business in relation thereto.

(7) To act, under the order or appointment of any court of record, as guardian, receiver or trustee of the estate of any minor, and as depository of any moneys paid into court, whether for the benefit of any such minor or other person, corporation or party.

(8) To take, accept and execute any and all such legal trusts, duties and powers in regard to the holding, management and disposition of any estate, real or personal, and the rents and profits thereof, or the sale thereof, as may be granted or confided to it by any court of record, or by any person, corporation, municipal or other authority, and it shall be accountable to all parties in interest for the faithful discharge of every such trust, duty or power which it may so accept.

(9) To take, accept and execute any and all trusts and powers of whatever nature or description that may be conferred upon or intrusted or committed to it by any person or persons, or any body politic, corporation or other authority, by grant, assignment, transfer, devise, bequest or otherwise, or which may be intrusted or committed or transferred to it or vested in it by order of any court of record, or any probate court, and to receive, take and hold any property or estate, real or personal, which may be the subject of any such trust.

(10) To purchase, invest in and sell stocks, promissory notes, bills of exchange, bonds and mortgages and other securities; and when moneys or securities for moneys are borrowed or received on deposit, or for investment, the bonds or obligations of the company may be given therefor, but it shall have no right to issue bills to circulate as money.

(11) To be appointed and to accept the appointment of assignee or trustee under any assignment for the benefit of creditors of any debtor made pursuant to any statute or otherwise.

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