Book Description

Excerpt from General Laws of the State of Vermont Relating to Banks: Chapter 26 Title 27; Public Statutes; In Force August 1, 1907 Sec. 4638. Trust deposits; payment if trustee dies. When a deposit is made in a savings bank, savings institution or trust company by a person in trust for another, the name and residence of the person for whom the deposit is made shall be disclosed, and the deposit shall be credited to the depositor as trustee for such person; and when no other notice of the existence and terms of a legal trust is given in writing to the corporation, at the death of the trustee, the deposit, or any part thereof, with the dividends or interest thereon, may be paid to the person for whom the de posit was made. Sec. 4639. Payment to minors. The trustees of a savings bank, savings institution or trust company may, in their dis cretion, pay to a minor such sum as is deposited to the credit of such person, and is due, as if such minor were of age; and the check and receipt or 'acquittance of such minor shall be a full discharge for the amount for which it is given. Seo. 4640. Minor's deposits exempt from trustee process. V. S. G 4088. 1884, No. 41, 21. No savings bank, savings institution or trust company shall be 3, L, 3577. Chargeable as trustee on account of funds deposited to the credit figs? 2_ of a minor, provided such funds are earned by or belong to such minor. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.