The Superior times. [volume] (Superior, Wis.) 1870-1912, 1876-04-14

OF ther elections, well as the qualifications of
electors. and the ratio and manner of voting and
the periodical meetings of the said CORPORATION
snail De determined by the bylaws
Section 3. The said officers shall hold sta.o5
meetings, at which the money in the treasnry -
over Two hundred dollars 5000 shall be offered for
loan IN open meeting, and the STOCKHOLDERS 1pb -
enaH DID the highest premium for the preferance
or priority of loan, shall be entitled to receva a
ioan OF two hundred dollars (S2OO) er mors FOR
eacn share of stock held by sucb stockbo1aa.
| PTO0aded, that stakeholder NAV borrow sucb fran
.lonai part of two hundred dollars (s20O1 "a tbe
1S,iaws may provide, and good and ample security
aii pe gwen by the borrower to secure the re-
payment of the loan. In case the borrower shar
neglect to offer security, or shall offer secnr;+u
t 40 not approved by the board of dill ectors by
eucu ilIne as the bylaws may prescribe he ar oh.
| shall De charged with one months interest 10
setMeI with any expenses incurred and the money
snaI De RECLAIMED at the next stated meeting In
case OF non-p ment of instruments or interest bv
borrowing stockholders for the space of sly noonbs
payment OF principal and interest without deduct
rug the pre- MUM paid or interest thereon may h.
ing to law 'Ai'1e' "0ooro-
Section 5. A borrower may repay a loan at an,
iihe, and IN case of the repayment thereof before
lne expiration OF. the eighth year after the organi
eaton OF the corporation, there shall be refunded
10 such borrower one-eIghth of the premium na;d
Ior every year of the said eight years then unex
pred; and in case of recovery of loans NV nroce.s
OF law, When the amount collected bv or disttihntad
10 the said corporation shall exceed the amount of
luah, taken by the borrower, with interest and
A he NlNt
.s"'eu meeting, and the excess recovered beyond
tne amount required to pay the loan, with the in
ueeaI ana charges, shall be returned to the Dor
io"er from whom the money was collected or his
lesal representatives. prOUided that in case tho sad
corporation shall have issued its stock in series
sucn loan shall be made only to the STOCKHOLDERS
Vi the same series and provided, that if the nre
mum on cred for the re-loan shall be greater than
that originally given by the defaulting borrower.
ne alno unit OF the original premium only shall be
pald over by the said corporation: and ,rorids5
ma OF
alter said re-loaning, demand from said corpora-
IoI Tue amount required to be paid to stockhold-
az ms STOCK saving and excepting,
o"eveT TO the said corporation the right to retain
so Ihucn OF the whole thereof as may be requisite
W eaFe u from loss, in case the amount recovered
shau not suffice to pay the re-oan.
section 3. No premiums, fines or interest on such
premiums, that may accrue to the said corporation
according to the provisions of this act shall be
ueeneo usurlous, and the same may be collected
la w in this state ~
section l. NO corporation or association created
under this act, shall cease or expire from neglect
on the part of The corporation to elect oficers At
me HIne mentioned in their charter or by-laws
ana all officers elected by such corporation shall
hod tn cir offices until their successors are duly
elected. '
Section 8. ANY savings fund, loan or building as
oclaton incorporated by under this act is here
by authorized and empowered to purchase at anv
sherlts ether judicial SALE or at any other sale
public or private any real estate upon which such
association may have or hold. any mortgage iudg-
llcu VI or ground rent.
IN winch said association may lave interest and
the real estate so purchased, to SELL convey lease
or mortgage at pleasure, to any person or persons
whatsoever.
Section .. All acts parts of acts contrayeninp
the proVlsle Ms of this act are hereby repealed
section III. This act shall take effect and be in
force from and after its passage and publication
Approved March 10, 1876
Published April 4, 1876.
CHAPTER 394.
AN ACT relating to the issue of state warrants
upon the requistion of the executive of other
states.
Inc people OF the State of Wisconsin, represented
in senate and assembly, do enact as follows:
Section l. The applicant tor any state warrant
upon the requlsition of the governor OF any other
state or territory upon the executive of this state
shal pay into the state treasury the same lee for
the Issue or enseaing of the said warrant as is
charged Tor like warrant III the state from which
such requisitiOn is made.
Section 3 This act shall take effect and be in force
from and after its passage and publication.
Approved March