The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1876-06-16

the management of its property and the regulation
of its affairs.
Fifth. To receive money on deposit to invest the
same, and further transact'the business of savings
bank or trust and loan association, as hereinafter
provided.
SECT 2 Any number of persons not less than
thirteen, may associate themselves together for the
purpose OF organizing savings bank or trust and
loan association, in accordance with the provisions
of this act but three-tourths of such number of
persons shall reside in the county where the proposed
bank or trust and loan association shall be located
and shall have power to fill vacancies and add to
their number from time to time they may desire,
all of whom shall be residents of this State
SECT. 3. Such persons shall execute a certificate
sworn to before justice Of the peace, in duplicate,
one OF which shall be deposited with the Secretary
of State for record and the other sent to the bank
examiner, in which shall be set forth: the name of
the bank or trust and loan associations the names of
all the corporators the places where they reside;
business occupation; place where its business is to
be transacted together with the reasons why bank
or trust and loan association is needed in such place
SECT. 4. notice of intention to organize such
savings bank or trust and loan association, shall be
published once week for three weeks in some news
paper published in said county where said bank or
trust and loan association is to be located in some
newspaper published in an adjoining county if none
is published in said county, signed by all the corpo-
ratOrs
SECT. 5. When the bank examiner shall have re-
celved the certificate, together with the published
order of notice, if he shall find the provisions of the
act have been complied with, it shall be his duty
from the best Information at his command, to ascer
tain:
Flrst. whether greater convenience of access to
savings bank or trust and loan association will be
afforded to any considerable number of depositors
by opening savings bank trust and loan associa-
ton, at the place designated in such certificate.
Second. Whether the responsibility, character
and general fitness for the discharge of the duties
appertainng to such trust, of the persons named
in such certificate, are such to command the
fdence of the community in which said savings
bank trust and loan association proposed to be
located.
Scot. 6. If the examiner shall be satisfied from
his knowledge or from information gained concern
ing the several points named in the last preceding
section, that the organization of savings bank or
trust and loan association proposed in such GER
tifcate, will be public benefit, he SHALL within sixty
days after the same has been received by him for
animation issue, under his hand, certificate of au-
thorizaton to the persons named in such certificate
or to them, or to portion of them, together with
such other persons as majority of those named in
such certificate of association shall, in writing APP
prove; also duplicate to the secretary of state;
which certificate, so issued by him, shall authorize
the persons named therein to open office for the
deposit of savings designated in the certificate of
association subject to the provisions of this act
SECT. T. Upon the filing of any certificate of au-
thorization of savings bank trust and loan asso-
ciatOn as hereinbefore provided with the secreta-
of state the persons named therein and their sue
cessors, shall, thereupon and thereby, be duly and
lawfully constituted body corporate and polite,
and shall be vested with all the powers and charged
with all the liabilities conferred and imposed by this
act. [ApproVed February 49, 1851