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Joint stock banks |
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JOINT STOCK BANKS. In England they are a species of quasi corporations, or companies regulated by deeds of settlement; and, in this respect, the stand in the same situation as other unincorporated bodies. But they differ from the latter in this, that they are invested by certain statutes with powers and privileges usually incident to corporations. These enactments provide for the continuance of the partnership, notwithstanding a change of partners. The death, bankruptcy, or the sale by a partner of his share, does not affect the identity of the partnership; it, continues the same body, under the same name, by virtue of the act of parliament, notwithstanding these changes. 7 Geo. IV., c. 46, s. 9. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| The number of joint stock banks and foreign banks has risen sharply since the early Nineties. It has one of the largest branch networks amongst China's joint stock banks with 27 branches nationwide and 502 outlets. NatWest traces its roots back to the 17th century through the amalgamation of nearly 200 private and joint stock banks. |
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