Commonwealth Ex Rel. Dollar Savings & Trust Co. v. Picard

Opinion by

Mr. Justice Kephart,

By the Net of June 19, 1911, P. L. 1060, the State regulated private banking.- It enacted in substance that no individual should thereafter engage in the business of receiving deposits of money for safekeeping or for the purpose of transmission to another without having obtained from the board a license to engage in such business, under penalty of fine and imprisonment. A board for licensing and regulating private banking, hereinafter called “board,” was created. By section 8, it was provided : “The foregoing provisions shall not apply...... (six) to any…