The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1876-04-27
Published April 1, 1885,
CHAPTER 331.

AN ACT to confer on certain associations of the
citizens Of the State Of Wisconsin the powers ana
immunities of corporations and bodies poltlc III
law.
The people of the State of Wisconsin, represented
in Senate and Assembly, do enact as follows:
SECTION /. At any time when five or more per-
sons may desire to form mutual savings fund,
loan building association under the provisions OF
this act, they shall make and subscribe ceruhcate
of organization, and shall file the same IN the once
of the clerk of the circuit court OF the county IN
which they intend to carry the business OF such
corporation, and such certificate shall specify:
1st The name assumed by such association, and
by which it shall be known.
I'd. The amount of its capital.
Sd. The CITY, village or town in which such assoc
citation designs to carry its cooperative business
and upon filing such certificate as herelnDe1ore
provided the persons subscribing the same may
exercise all the corporate powers and privileges
conferred, and shall be subject to all the Liabilities
of this act provided, that charter granted under
or by virtue of the provisions of this act shall be for
longer term than twenty (2O) years ....-
| SEC. q The capital stock OF any corporation
created by virtue of this act shall at no time con-
sist of more than two thousand five hundred (Z5UO)
shares, of two hundred dollars ($2OO each, the IN
stailments which stock are to be paid at shcn
| time and place as the bylaws shall appoint, no
periodical payment to be made exceeding TWO DOL
lars (S2) on each share. Every share OF stock shall
| be subject to lien for the payment OF unpaid IN
stalments and other charges incurred thereon, I'M
der the provisions of the charter and bylaw, ana
| the bylaw may prescribe the form and manner OF
enforcing such lien New shares OF stock may De
|
the stock may be issued in one or III successive
series, in such amount the board OF directors or
| the stockholders may determine, and any stocK-
holder wishing to withdraw from the said corpora
ton shall have power to do by giving thirty (3V)
days notice of his or her intention to withdraw,
| when he or she shall be entitled to receive the
/ amount paid in by him her, and such proportion
of the profits as the bylaws may determine, less all
fines and other charges; provided. that at no TIME
shall more than one-half of funds IN the treasury
of the corporation be applicable to the demands OF
withdrawing stockholders, without the consent Oh
the board of directors and that stockhoder shall
be entitled to withdraw whose stock is held "a
| pledge for security. Upon the death OF a STOCK
holder, his her legal representative shall De en-
titled to receive the full amount paid IN by MN OF
her, and legal interest thereon, first deductlng al
| charges that may be due on the stock no nnes
shall be charged to a deceased members accouni
from and after his her decease, unless the lega
representatives of such descendant assume the III
| ture payments on the stock.
/ Sec 3. The number, title, functions and compen-
sation of the officers of any corporation created Dy
virtue of this act their terms of office, the time OF
their elections, well the qualifications OF elec-
| tors and the ratio and manner of voting, and the
periodical meetings of the said corporation, shall DC
| determined by the bylaws