Definition of Loan and trust company

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TeachMeFinance.com - explain Loan and trust company




historic definition...

Loan and trust company -- An incorporated banking institution empowered by its charter to accept and execute trusts as provided by law; to receive deposits of money and other personal property and issue obligations therefor and to lend money on real and personal securities. Such an institution is not permitted to issue bills to circulate as money. It cannot lend money at more than the legal rate on time and is not obliged to keep a lawful money reserve.



About the author

Mark McCracken

Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English".


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