§ 53-7. Statement filed before beginning business.
§53‑7. Statement filed before beginning business.
Before such company shallbegin the business of banking, banking and trust, fiduciary, or suretybusiness, there shall be filed with the Commissioner of Banks a statement underoath by the president, cashier, or secretary, containing the names of all thedirectors and officers, with the date of their election or appointment, term ofoffice, residence, and post‑office address of each, the amount of capitalstock of which each is the owner in good faith and the amount of money paid inon account of the capital stock. Nothing shall be received in payment ofcapital stock but money. (1921, c. 4, s. 7; C.S., s. 217(f); 1931, c. 243, s.5; 1989, c. 187, s. 3.)