What is BANKER? Definition of BANKER in Black's Law Dictionary - Legal dictionary - Glossary of legal terms.
A private person who keeps a bank; one who is engaged in the business of banking. People v. Doty, 80 N.Y. 228; Auten v. Bank, 19 S.Ct. 628, 174 U.S. 125, 43 L.Ed 920.
Individual Banker
Under some statutes, an individual banker, as distinguished from a "private banker" (q. v.), is a person who, having complied with the statutory requirements, has received authority from the state to engage in the business of banking, while a private banker is a person engaged in banking without having any special privileges or authority from the state. Perkins v. Smith, 116 N.Y. 441, 23 N.E. 21.
Private Banker
One who carries on the business of banking without being incorporated. State of Missouri v. Angle, C.C.A.Mo., 236 F. 644, 650; Herzog v. Transatlantic Trust Co., Sup., 172 N.Y.S. 394, 395. One who carries on the business of banking by receiving money on deposit with or without interest, by buying and selling bills of exchange, promissory notes, gold or silver coin, bullion, uncurrent money, bonds or stock, or other securities, and by loaning money without being incorporated. State ex rel. Barker v. Sage, 267 Mo. 493, 184 S.W. 984, 988. See Individual banker, supra.
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