§ 19-3-1 Law generally applicable tofinancial institutions. – Every financial institution shall have the powers, rights, and privileges, andbe subject to all the duties, restrictions, and liabilities, conferred andimposed upon it by this title, and in addition shall have all the powers,rights and privileges, and be subject to all the duties, restrictions, andliabilities, set forth in chapters 1, 1.2, 4 to 6, and 9 of title 7, only as isnot inconsistent with the provisions of this title, notwithstanding anything tothe contrary in the institution's agreement to form. Every financialinstitution shall have the power to exercise, by its board of directors orboard of trustees or duly authorized officers or agents, all incidental powersnecessary to carry on the business of banking including but not limited to thepower:
(1) To receive money on deposit and pay interest thereon;
(2) To receive, upon deposit and for safekeeping, property ofevery description, upon terms prescribed by the financial institution and toconstruct, own, lease, and maintain safe deposit vaults, with suitable boxesand places for the reception and deposit of the property, and lease the use ofplaces and boxes to individuals and corporations, upon any terms that thefinancial institution may prescribe. The financial institution shall in no caseincur any liability on account of the deposit of any property so made with it,or by reason of the leasing of any place of deposit, other than liability thefinancial institution expressly assumes by the terms of the contract or receiptunder which it has accepted the deposit or let the place of deposit;
(3) To act as a depository of public money or a financialagent under any law, rule, or regulation;
(4) To issue capital debentures with the approval of thedirector or the director's designee;
(5) To make loans and mortgages and collect interest fromthem as may be agreed upon;
(6) To invest in any bonds, obligations, or property, real,personal, or mixed, as it may deem prudent, subject to any duties,restrictions, or limitations imposed by this title;
(7) To exercise any power authorized forinsured-deposit-taking institutions duly organized under the laws of the UnitedStates which are members of the federal deposit insurance corporation;
(8) To exercise additional powers, not inconsistent with thecarrying on of a banking business, with the approval of the director or thedirector's designee.
§ 19-3-1 Law generally applicable tofinancial institutions. – Every financial institution shall have the powers, rights, and privileges, andbe subject to all the duties, restrictions, and liabilities, conferred andimposed upon it by this title, and in addition shall have all the powers,rights and privileges, and be subject to all the duties, restrictions, andliabilities, set forth in chapters 1, 1.2, 4 to 6, and 9 of title 7, only as isnot inconsistent with the provisions of this title, notwithstanding anything tothe contrary in the institution's agreement to form. Every financialinstitution shall have the power to exercise, by its board of directors orboard of trustees or duly authorized officers or agents, all incidental powersnecessary to carry on the business of banking including but not limited to thepower:
(1) To receive money on deposit and pay interest thereon;
(2) To receive, upon deposit and for safekeeping, property ofevery description, upon terms prescribed by the financial institution and toconstruct, own, lease, and maintain safe deposit vaults, with suitable boxesand places for the reception and deposit of the property, and lease the use ofplaces and boxes to individuals and corporations, upon any terms that thefinancial institution may prescribe. The financial institution shall in no caseincur any liability on account of the deposit of any property so made with it,or by reason of the leasing of any place of deposit, other than liability thefinancial institution expressly assumes by the terms of the contract or receiptunder which it has accepted the deposit or let the place of deposit;
(3) To act as a depository of public money or a financialagent under any law, rule, or regulation;
(4) To issue capital debentures with the approval of thedirector or the director's designee;
(5) To make loans and mortgages and collect interest fromthem as may be agreed upon;
(6) To invest in any bonds, obligations, or property, real,personal, or mixed, as it may deem prudent, subject to any duties,restrictions, or limitations imposed by this title;
(7) To exercise any power authorized forinsured-deposit-taking institutions duly organized under the laws of the UnitedStates which are members of the federal deposit insurance corporation;
(8) To exercise additional powers, not inconsistent with thecarrying on of a banking business, with the approval of the director or thedirector's designee.
§ 19-3-1 Law generally applicable tofinancial institutions. – Every financial institution shall have the powers, rights, and privileges, andbe subject to all the duties, restrictions, and liabilities, conferred andimposed upon it by this title, and in addition shall have all the powers,rights and privileges, and be subject to all the duties, restrictions, andliabilities, set forth in chapters 1, 1.2, 4 to 6, and 9 of title 7, only as isnot inconsistent with the provisions of this title, notwithstanding anything tothe contrary in the institution's agreement to form. Every financialinstitution shall have the power to exercise, by its board of directors orboard of trustees or duly authorized officers or agents, all incidental powersnecessary to carry on the business of banking including but not limited to thepower:
(1) To receive money on deposit and pay interest thereon;
(2) To receive, upon deposit and for safekeeping, property ofevery description, upon terms prescribed by the financial institution and toconstruct, own, lease, and maintain safe deposit vaults, with suitable boxesand places for the reception and deposit of the property, and lease the use ofplaces and boxes to individuals and corporations, upon any terms that thefinancial institution may prescribe. The financial institution shall in no caseincur any liability on account of the deposit of any property so made with it,or by reason of the leasing of any place of deposit, other than liability thefinancial institution expressly assumes by the terms of the contract or receiptunder which it has accepted the deposit or let the place of deposit;
(3) To act as a depository of public money or a financialagent under any law, rule, or regulation;
(4) To issue capital debentures with the approval of thedirector or the director's designee;
(5) To make loans and mortgages and collect interest fromthem as may be agreed upon;
(6) To invest in any bonds, obligations, or property, real,personal, or mixed, as it may deem prudent, subject to any duties,restrictions, or limitations imposed by this title;
(7) To exercise any power authorized forinsured-deposit-taking institutions duly organized under the laws of the UnitedStates which are members of the federal deposit insurance corporation;
(8) To exercise additional powers, not inconsistent with thecarrying on of a banking business, with the approval of the director or thedirector's designee.
