A Treatise on the Law and Procedure of Receivers, With Forms, Vol. 2 Being a Greatly Enlarged, Newly Classified, and Entirely Re-Written (Classic Reprint)

Excerpt from A Treatise on the Law and Procedure of Receivers, With Forms, Vol. 2: Being a Greatly Enlarged, Newly Classified, and Entirely Re-Written

Banking institutions occupy such a fiduciary character toward the public that corporations performing such functions are the subject of public concern and their activities are circumscribed by statutory regulations. Corporations, which hold or deal with the money of the general public, owe such deep responsibilities to their patrons that both the federal and state governments have enacted laws tending to protect such institutions from hasty or ill-advised litigation which would likely result in their premature dissolution. On the other hand, the laws regarding banking institutions generally provide a system of legal or administrative procedure under which an institution which is insolvent or is being im properly conducted may be given an opportunity to rehabilitate itself or remove the cause for criticism in its management before being subjected to the more drastic necessity of being judicially dissolved.

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