Litchfield enquirer., 1858-07-01

$50, entitled An Act authorizing the esablshmen oi Savings and Building Associallons on the reoesi o .en herein to order the secretary .y me Dank csnsiiisssQners t9 xamne the affairs o the sssoclation Ehd such commissioners u majority
 t tue m shall forthwith make m exarDisatgn and ap.
 fn,semeni o the stock ot each s0ckhoder, it's just value. as nearly the same cat be asrerisncd. due reeard being hadste all the ciroamstaaces ef shecase a''d when such association has recelved bonus upon
 It's loans tor e luie eIi0d, at the tune of making tue lnan, sIlch deduction shal he made from the profits credited the earlier series. and'esuch additions
 ns practicahe the profits of the institution among the errn series stockholders, due regard being had io all the crcgn%'a,ees of..he sase; aud sad coHmls- soIers shall make record ef ther appFasai and ad jusnen and lodge the same with the treasurer ot The s-socian; and any 2arty nggriesed may, within ten lodging said record with the treasurer, take appeal rom an, judge of tbe superior court wh may make such order n relnto thereto as justice shali reaure and his decree shall be final
 dollars per day and actual expenses while engaged a peror'nl"e ga d dai.spand s.ali te paid by the ca,ion whose aG rs tlsy shall thus examine. and at sh q. hc t'e same as on motion to dissolve temporary injunction in sacaon, and shall he paid by the party
 Sso g. When such sdnsmen, m u sbsl have been made any stockholder who shall have made a permanent loan. may have the whole of such ascertained o hts ock applied to such loan, and the balance, ! any remainlng due on his loan, no bonus of greater rate than onequarsr oi per cent month shall be payable; and e shall !henrefcr,h cease to he stock holder in snh associa ion bat if the stock Of any such borrower sa Il be more than sufficient o pay his note oan then enough cancel said note Or loan. shall he applied that purpose. and the remainder hah be treated ,le stock o aaon-horfowne stock hodes and tufsluf prOvded, that any borrower shal, al tunes, have the privilege of paying up the amount due no suc1 application shall be made for an oI- praxn and adjustment, all payments made stock hy him or her. with interest at the rate ot six p.r cent per arnusn, payable semi>annualy, in adN anee shall be credited said load and if the value of eald stock shall te found to be greater than the payments lna on tse same, with the interest credited then fnp shul1h ho I,an. Ssc 4 No such association shall take. on any loan hereafter made. any bonus greater of thsh SIX per cent per annum and no association shall issue ahy siocks f-,
 SEC II any such association shall r. fuse to com ply with the foregoing provisions it shall not be la wiu turther loans, upon psually u one hundred dlars for each aud every ftnse payable the Treasurer of this Ssuie. and cotecuble in any proper form of action.
 S,c 6. Anynssoc arion d, siring to close up it's hus ness alter ha vng ascerianed the value of stock the manner hyelnbsiore provided, shall first pay or s cure o be paid, all debts due deposors, the sat,s iactan and acceptance of the depestors any stork- holders who are borrowers may have the vaue of their stock applied n ,he manner hereinbefure provd cd upon tlaer lpa us ;and the balance ming due on said hans, afcss pAic in cash shall rema in loan, with interest payable at the rate of per cent. per anrnn,' seni-annuallv, in advanse;, all pay nenis up1. stock ln said institution shaN thencefr crsse. aud all stock shall be cancelled and the value of the stock of each stockholder shall be and remain d claim ngxiat e association and all sses of said as .craion, securing the deposors as aforesaid .ha e held by the association trust for the benefit uf ad sockheers and the ayas thereof shal be coI leced aud be distu'u,ed raieabiv among ,lieni from tune to time, as the association shall order but sn long any depositors unpaid the fun,'s shall be applied 0 tiia purpose Any a>soca.i m may ac cep the provisions of this section is act by ma r vote of its si.ckhode rs, voting hy shares stock any meeting duly Warned and held for that puipose and shall thereafter receive deposits, and shall only make snch loans sh be ssarv in the malicious maiiaeelnent of it's afias while Iiqlidn,ns tue sani; and all ioas made shall be rate i,ol exceeding SIX per cent per annum, payable semi ally in advance.
 SEC. :. No association shall herea fer be formed established. under and by virtue oi te act to which this is an nGdition.. = =
 SEC. g. This act shall affect the costs in any suit or proceeding ut law in equity, so far said costs have alrendy accrued.
 SEC. g. All and parts o acts inconsistent here. with are hereby rrpeaed. H;
 Approved Junesl7, 1858.