1903_private laws_389_10
CHAPTER 388 AN ACT TO INCORPORATE THE SPENCER SAVINGS BANK. The General Assembly of North Carolina do enact:
Said corporation shall have power to receive moneys in trust, and shall have power to accept and execute any trust that may be committed to it by any court, corporation, company, person or persons, and it shall have power to accept any grant, assignment, transfer, desire [devise] or bequest, and hold any personal or real estate in trust created in accordance with the laws of this State, and then to execute the same on such terms as [may] be established and agreed upon by its board of directors; and said corporation is hereby authorized and empowered to act as trustee or assignee, and to receive on deposit all funds in litigation in the various courts in this State, and pay therefor such interest as may be agreed on, not exceeding the lawful rate. It shall have power and authority to receive for safe keeping on deposit all money, bonds, stock, diamonds and silver plate and other valuables, and charge and collect a reasonable compensation for the same, which charges shall be a lien upon said deposit until the same be paid; and generally to do and carry on the business of a deposit company; and any receiver, executor, administrator, assignee, guardian or committee of a lunatic, and any public officer is hereby authorized, in their discretion, to deposit with said company for safe keeping any money or bonds, stocks, securities or other valuables which have or may come into his possession or under his control by virtue of his office or appointment aforesaid.