HB 410, 42nd R.S.
Relating to amending certain statutes by requiring bank and trust companies to segregate assets held in a fiduciary capacity from the general assets of the bank, to keep a separate set of books and records showing in detail certain transactions; providing that funds deposited or held in trust awaiting investment shall be carried in a separate account and not to be used by the bank in the conduct of its business unless it shall first set aside in the trust department United States bonds or other approved securities.
Author: Paul Finn
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