Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1869-04-02
& bnptrr 61.
An ACT relating To savings banks and saving, ins


AN AC relating to savings banks and saving. in.ti-
SHOT. l. saving. bank. and saving. institution.
sha .Xerci." the powers aud Toe subject ia. duties
Liabilities sni provisions ut this act aud IF their
specuNe charters aud ct the general law the state
r-p"ctiug corporations except a. otherwise provided
>ECr. > The member. OF the corporation shaU an.
nualy such tiaes a. may be provided i'm their bv
laN-, elect from their number Ave trustees who shall
have IA" entire super, Lion aud management If tl,o
affair. the institution cept so ar A. NAV d. 9th
crwise provided nv their bylaw. The member. may
also at any legal meeting 90 the Corporation bv a
majority "f at least tNo-thiris of thoie present bv
ballot M ANY Nacancics that may occur Ga their
u'i anu MAY hiu now members IN the sam" manner
~ they go" NJ Member removing from thu stato
shall thcr"ulou c"as' to b. such.
sE,r. 2. The trustees immediately ancr their
election aud qualification. shall elect one of their
number fer president who shall also be president II
ia" corporation They shall also elect treasurer
and when ia their opinion necessary. an assistant
treasurer The ircaAfrer aud In hi. absence the a.
'iNiani treasurer 90 Their" he one shall bo oihcin
clerk Of th" corporation. aud also of the trustees
said treasurer and assistant shall both be subject To-
removal At the will OF the trustees They shall give
Of "a" dut- of their respective Office. ga such sums
respectively the trustees may decide De- uo,...a-
~ Tor h" .ai"iy - IT, funds Al said officer shall
b" under oath faithfully To- perform ia" duties If their
Office. The treasurer aud assistant shall receive
compensation. ~ l." fixed by the trustees bat tho
TRUSTEES ~hall perform their duties gratutou.lv
sECr The un.t'-- shall A. often a once In o..
cry siN months. thoroughly examine the affair. of
Ia" corporation aud -"ttI" til" tr"asurcrs account.
and ascertain the true state 90 both rec
ord of which shall b. kept fr TIA" nsI-ction If ans
member Of the corporation.
SEcr . II shall l." Tia" especial duty Of tho trus.
tees To 10 IN" proper and -afe a.
po-it- and funds 81 ih" corporation. which invest
ncnt NAV b. mad. In whatever manner the tru.,....
.balI regard perfectly >ai" except that uo loan sha
o. nad" on 'rcuTity - names alone. nor shall any
loan b" mad" dir siy indirectly any ono Of the
trustee. or any firm oi which h" . member
SGT. o The net Income or earnings 81 the corf,n-
ration. amor d"ducting the -um herein funded Tor
reserved fund. shall ." divided soml-auuuslly a.uch
times a NAV b" hN"d by the bs-iaws among tho d..
po.itors II thr months standing a. oast h. for div
id"nd day th"r representative ratsbiy; but tho
corporation may hy their by-la- include deposit. OF
lr-. standing Hut fractional p"rccutag, . IN an
On" quart"r shal De- adopted. Any halanc., II arm
iug- shall b." carried t. urx account for p.,t fvi
d'nd. No deposit hall be- received under ny arr,~,-
m"ni to- "a, any specified sum. Interest or dis idend
SHOT :. Before making any such dividend tho
TRUSTEES shai sr part from the aruiug. sum tunl
10 ON" halt Ter cont pr auuurn Viz. on. quarter ,T
cent e.. each siN months FIR I..-r, "a !ud not
subject {" be- divided but kept on hand ~
'''n'" AEAin,i losses and c'utiug"nci'a until TIA" Ii
Ir-TTrd iUHd amounts e. u.s., I-r rout ofthrlr acct.
Al losses shall be Ia-- O." tbc debit 90 .aid account
st'T : 10" TREASURER ha, fail power to ---igu
hi.charro aud f.r"ClH~" mortgage hold by tho CIR
p"Tii"n aud convey real c.iai" bold security E,r
!"an' ~ ih" THE - which accrued from Foreclosure
.a"H' A''l under section siN without vote II ia"
sreJ Tho trustee. .hall cau., all real estate ~
an tn'ur'b" ohSrsoi'r bold bl them absolutely la
mortgage e. l." ION, insgr'd ia" p"n-c OF which in
oa-' of mort gag. shall br added - the amount of
10" mortgage debt T." bc refunded In cas" Of rcdoIup
sICr 10 Money deposited by married women
- r,irr ~ sTct, r. Ron
- g. - i''' ~t'a-HT'I rHall annually max" To-
'n. 's.~ examiner report under oath OF the stand.
ing ~ ~" corporation. IA" situation 81 It, fund and
al other matter "hCh the examiner shall r,-uir.
a'oI''hg I" .nch i"Tm a. Do" may rTc-crhc And flr
Nat pHrp''" 10" examiner shall scasuuahlv furnish
ih" treasurer with proper bauk. which sha L. fully
answered hy ID" trrasurvr
St'T y No officer ct tho corporation shall H.. or
appropriate any ~ IT, fund. hi. own priyAt. pur
p'''' under Ia" i'nali, imposed Boy law FIR cmb,l-
Nrrr - Thi. act shall go into effect on the ar,t
day 81 July ucNt
Approved March r. 1862
Chapter o..