Litchfield enquirer., 1850-07-18

Be il enacted BY the Senate and House Of
Representative ia General Assembly conven-
ed That no vessel arriving ia the port Of New
Haven from the British North American pros
vinces. shalt be subject TO quarantine, any law
to the contrary Notwithstanding.
ORIGEN s. SEYMOUR,
Speaker House Of Representatives.
CHAs. III. PoND, Pres. 0fthe Senate.
Approved, June IL. 1850,
THoMAs II. SEYMOUR.
An Act authorizing the esiabiishmsnt elsa.
wing and Euslding Associaiious.
Secl. Belt enacted by'the Senate and HOUSE
u Representatives, in General Assembly cca-
gwheds fhat any EnmbaE u PessDns daelsAess
than twenty live may associate for the Pur-
pose Of establishing Saving and Building
Association IN any town in the State, upon the
terms and conditions, and subject to the
liabilities hereinafter prescribed IA this act
ADD such persons may provide in their arts
clss ot association Tor ~ increase Of their
aumber.
Sec Q Every such association shall assume
and adopt some name TO distinguish tito be
used ia It's dealings. and by which ii may sue
aud be sued.
sec 3. Every association formed ia accord.
ance with the provisions OF this act, shall be
4 bsdy polite aud corporate. with power to
choose such officers and make aud adopt such
aar,lcles Vi association and by-laws a. il may
Ieem necessary tor conducting and regulating
its atfairs, not Inconsistent with the laws OF
his state and of the United States--to have a
commeR seal. which il may change or renew
al pkeasure--io sue and 70 DO sued--to receive
8rroIn any person or persons any deposite or lie.
posts OF meney, in the form of stated pay
,nents upon shares Of stock or otherwise, not
Exceeding ia any one year from one personihe
sum Vi one thousand dollars 10 loan money
TO its members upon real OF personal security,
oT upon The pledge Of the borrowers stock in
said assOciation TO receive interest for mon.
Icy 30 loaned, monthly, quarterly. seni.annu.
atty. or in advance; to receive for such loan
or iUans, in addition 70 the legal rate Of infs-.
grest paid as aforesaid, such . bonus as the par.
lies IN each case may agree upon 10 loan
money to persons not members Of said associ.
alton al the legal rate Of interest, provided no
member Of said association who can furnish
gs0od AVID sufficient security therefor applies
tGr ito purchase, hold aud convey sach real
sstale and no other, ~ may be necessary for
he transaction OF its business, such a. may be-
moItgayed to il in good faith 10 secure loans
and debts, and such 40 shah be conveyed to il
10 satisfaction Of debts previously contracted
IN the regular course Of lite dealings; to pur-
chase, hold, and SELL with auch q portion Of
its iunds only a. cannot be loaned Il he men,.
bers upon go3d and SUFFICIENT security the
stock,oi any city, Of any Incorporated bank ia
this slate, and'the stock Of the states Of Mas.
sachuse,ts and New York and the stock Of the
United States, and no othegs; aRdi0 exercise
such incidentsl powers ~ may Be necessary 70
carry on is business
Sec. 4. Ne such association shall establish
any branch Office 81 agency thereof, or en-
ploy any agent OF person to make loans or d:s.
counts at any other place than the Office Of
said association. Ess ~ si,
Sec. s such association shall deposit with
The town clerk, in the toWh where it il situs
ated, TO be lodged on file in his Office, cosy
u ils articles OF association and BY .lawasand
I;s legal existence as acorpogation shall CON-
lnence from the time said copy is 80 left with
said town cie.k. Copies Of all alterations
and amendments Of said articles and by.iaws
shall alsO be left with said town clerk, TO be
lodged on file a. aforesaid and such altera.
stions aud amendments shall not take effect un-
Ill copies thereof, signed BY ito president. aud
verified by his oath. shall 20 be left.
Sec. 8. The officers and agents Of such az.
ISOLATION shalt be subject 70 the provisions Of
l2ylh section VI the act concerning crimes
land punishlnents.
Sec. 4. Upon the application Of depositors.
|shsre. holders OF creditors Of any such associas
lion, having an interest ID, or claims on, such
association, TO the amount Of FIVE thousand
dolars. stating facts, verified by affidavit. eth
pc OF the judges Of the superior or county
court. may ia his discretion, order stT,ct ek.
animation TO be made By one OF more audit.
ors, who shalt be appointed by said judges of
sH.;ra ,f assEskn ha 's,Asr~
pose Of ascertaining The safety Of deposits in
Isuch association, and the prudence off, man.
agement, and The result Of such examination,
together with the opinions 0f its auditor or
auditors and the 0pinioa Of the judge on IL /,
sha be published IN such manner as the
fudge shalt direct. Said officers may be ex-
au,ineJ under oath by said anditor-er auditors,
and in case they Or either Of them refuse to
make full disclosure, said judge may COM
Unit officers 90 refusing. 10 prison. there 10 re-
main until full disclosure 10 made. Such or
der shall be made 80 10 the cost Of such exam-
lnalion and publication as said jadSe shalt
deem proper.
Sec. 8. The shares sf every such associa.
tion shall be- deemed personal property and
.hall be transferred on the books Of The asso.
cistion in such manner 40 may be agreed on
IN The articles VI the association and every
person becoming shareholders u depositor hy
such transfer. shall, in proportion to his shares
or depo-is, succeed 10 all Of the rights and Ii.
abilities Of prior shareholders and de,iositors:&
40 change shall be made 10 the articles DC asso,
citation, BY which the rights. remedies % Sc
surities Of is creditors and members shall be
weakened orsrnpemed. such ASSOCIATION shall
At oil times have . lien upon ill the stocks.
ieposiss OF prSpaFty Of lis members, share.
holders OF deposit ~ invested thereia, for all
r.. 49,