17-6106. Banking power denied.
17-6106
17-6106. Banking power denied.
(a) Unless authority is expressly conferred by another law of this
state, no corporation shall possess the power of issuing bills, notes or
other evidences of debt for circulation as money, or the power of
carrying on the business of receiving deposits of money.
(b) Corporations organized to buy, sell and otherwise deal in notes,
open accounts and other similar evidences of debt, or to loan money and
to take notes, open accounts and other similar evidences of debt as
collateral security therefor, shall not be deemed to be engaging in the
business of banking.
History: L. 1972, ch. 52, § 16; July 1.