Full resolution (JPEG) - On this page / på denna sida - XI. Banking, Credit, and Insurance - 2. Banking. By I. Hultman
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other banks.
673
Office-room of the »Nordiska Kreditbanken» in Stockholm.
and 4) private persons or partnerships (handelsbolag) in which personal names
form a constituent part of the firm-name. Banking business within the Act
is such business as comprises the receiving of deposits from the general public
on such accounts as customarily occur. Thus cooperative societies are not
banks, if the receiving of deposits that they carry on is confined to the members
of the society. The term bank may only be used in the firm-name by 1) the
Riksbank, 2) the joint-stock banks, 3) the unlimited liability banking companies,
4) underwriting banks (emissionsbank),1 5) the Post-Office Savings-Bank and
other savings-banks, and 6) the Iron Institute (Jernkontoret) and the
General Mortgage Bank. — If the banking company in question is considered
likely to be of the benefit to the public, and if its articles of association
are in accordance with the law of the land, the Government grants it a
charter (oktroj) for ten years. (It is thus open to the Government to
prohibit the formation of either a limited or an unlimited liability banking
company, when any such company is manifestly not for the benefit of the
public.) The company’s capital shall be at least a million kronor; however, if
the bank has manifestly been established to serve the needs of a locality with
a slender business turnover, the minimum capital may, subject to the sanction
of the Government, be fixed, at half the above amount. The firm-name of a
joint-stock bank shall indicate the fact of the liability of the shareholders being
limited. The firm-name of unlimited liability banking companies whose capital
1 The purpose or scope of this type of bank, which was created (at any rate on paper)
by a special Act of 1909, is to assist (by the underwriting of shares) in the formation
or constitution of joint-stock trading companies.
43—133179. Sweden. II.
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