River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1876-05-18

Section "a. The net income actually earned
by any such association shall be divided semi
annually among its dep0st0rs 10 an amount
not TO exceed six per cent. year IN their de-
p1sl's the surplus earnings aboye six per
cent alter feserving moderate sum IN
contingent fund, shall be divided among the
depusiiois as 40 extra dividend as often a.
once in every three years
Section 10. No trustee, directoror manager oil
such corporation shall he borrower or surety
y borrower otany its funds nor receive any
money or valuable thing Tor negotiating, pro-
curing or recommending any loan from such
bank, nor for selling or aiding IN the sale OF
any stock bonds or securities to such savings
bank, and any saoh officer who shall violate
any provision OF this section shall forfeit TO the
state one thousand dollars
Section 49, The treasurer shall al least ten
days before each meeting Of the corporators
mail or deliver 10 each q written or printed no
tice OF the day aud hour Of holding such meet
ing, and II he shall neglect TO give such notice
he shall pay one HUNDRED dollars into the
treasury OF the town or city where such bank
is located
Section H. The treasurer shall give bonds
with surety TO the acceptance OF tile directors
or trustees in not less Than ten thousand dol
lars, PAYABLE TO said bank said bond 10 be- in
the custody OF the president thereof No pres
ldent, director or trustee shall be surety ia the
bond of such treasurer.
Section Is Every corporation formed nm
der the provisions OF this act shall possess the
powers and be subject TO the provisions OF the
seventy-eighth chapter of the revised statutes
SO far "a the same may be- applicable.
Section 10. AT the general election TO be
held ON the Tuesday next succeeding the first
Monday in November in the year eighteen
hundred and seventy six, at the usual places of
holding such elections in this state Tor the
election Of all officers reqcired 10y law then and
there 20 I've elected, the question whether this
act shall go into effect, or in any manner he in
force, shall be submitted 10 the people. and il
the same shall be approved by q majority oi
all the votes cast on that subject, il shalt 60
into effect ami be In force from and after the
date OF said election, otherwise IL shpll not go
into effect or in any manner be in force
Section 90 The vuies cast on the subject
specified 10 the last preceding section. shall
be by separate ballot, and shall have written
or printed on each of them the words, "FOr an
act 10 incorporate savings hanks or against
an act 20 incorporate Eavings banks which
words shall indicate the vote OF the electors
Tor or against the approval of this act, and the
ballots so cast shall be eanvassed and returned
in The same manner as the votes cas-, tor state
officers and required by law 90 he cingaased,
and the secretary of state shall Immediately
on the completion of said canvass publish a
statement of the result thereof, In some news
paper printed at the seal Of government and
shall communicate the same u the next legis-
latuTe, ut the commencement OF its session,
and he sh all also deliver 10 the state treasurer
q certified c. by OF this act, II the same shall
have been approved. and statement OF the
result Of the canvass on this subject, immedi-
ately after the complt ton OF said canvas
Section q. This ic shall take effect and be
in force from and after It's passage
Approved March 10, 1916