Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1877-03-06

OF such corporation 20 keep accurate account OF
hold hv II AZ the time Sf fling such petition: and IL
4 larger sum shall Do realized theretrom than the
value estimated a aforesaid by the court n shay,
Al such time or times A. the court may prescribe
render 10 the court true account thereof, aud
therrupOn the court, afteT due notice thereof 10 al
parties interested shall declare pro rata dividend
Of such excess among the depositors NJ the time OF
fling the uattiOn No deposit shall Dc paid or rc-
cave by such corporation after the Ming OF the -
ttion till the decree Of the court reducing the
deposits As herein provided II the petition Is &c
MED e. shall be the duty Of the bank examiner to
proceed for the winding Up Of the Affairs OF the cor
poration A. provided in section thiriy-tye.
SFcr - The examiner shall annually, on or be-
FORE the first day OF December make report 10 the
governor and council, Of the general conduct and
Condition Of each Of the banks visited BY him, max
ipg such suggestions a. he deems eNpedieni. Such
report shall De printed and laid before the legislature
AZ rs next session and one copy sent 10 each saw
ms bank In the state by the secretary Of state
SECr s.. IT, In the opinion Of the examiner, any
savings bank or It's officers trustees shall be found
10 have persisieny violated any law In relation 10
sayin.s banks OF institutions for rawlings. he shall
forthwith report tie same with such remarks as ne
deems expedient, 20 the attorney general who shah
forthwith institute prosecution for such violation
In behalf Of the state. The penalty fer such viola
ton unless otherwise prescribed, shall not be less
than one hupcred dollars nor more thAh L'c nun
SE,-r So savings banks AID Institutions for saw
ings that have exercised the privileges OF saving
bank or institution for sayings and done business a.
such the term Of one year shall be held 10 DC le
gally organized.
tions tor savings shall make return Of the annual
election Of officers 10 the tnk examiner within ten
days after their election aud qualification.
SECT Il. Any person or persons not authorized
nv act Of the legislature. who shall advertise his
business as that Of savings bank, or shall receive
demo its under pretence of conducting savings
bank shall be punished by fine OF one hundred
SH,isrs for each oense but nothing in this act
tanned shall o. construed a. prohibiting any person
from advertising his business as banker and oaer'
I ing 10 take and taking deposits 10 De ioaneu upon
such terms and conditions as the depositor may
/ pre- cribe.
strictions conferred and imposed upon any savings
COMBINATIONS by whatever name known, by lis
charter or act ofincorporatiOn are hereby aordgei
, enlarged or modified. as each particular case may
require, in such manner that each ana ever! sueh
charter act Of Incorporation sha De naue 10 con-
form 20 the provisions of this act, ana 10 sueh
amendments as nay be made thereto; and eaeh ahd
every such savings corporation shall posses me
powers rights aud privileges, and he subject 10 The
duties and res riciiOns and liabilities conferred and
imposed by this act, anything In their respective
charters acts OfncOrpo alton 10 the contrary not
vthstAndinE. But nothing in this act shall DC con-
strued 10 Affect the Legality of invest heretofore
made. Of transactions heretofore had or the pay
ment OF interest al rate not exceeding SIX per
centu on deposits already made, until the dividend
next following the passage o. this act I.ut me
Sc uriti shall be valid in favor of The bank, pur'
suant to any provisions Of law IN force when sueh
investments were made, or transactions hAu NOR 10
reoui the cha ge Of investments for these named
in this act except the can be done gradually
by the sale or redemption Of the securities so invested
In in such manner as 20 prevent loss or emoarrass-
ment in the business Of such corporation, or un-
necessary loss or Injury 10 the borrowers on such
securities. Aud the Investments hereafter IN any
securities not named in this act or the amen dments
that NAV be made thereto, shall De deemed INSIDE
meanOr on the part Of the trustees authorizing. or
officers making. the same and such trustees or ON
Gers shall De subject 70 the prosecutions and punish
Inen's prescribed BY law for that ofenSe
SECr - Sections eighty-seyen 70 one hundred
and two inclusive of chapter fortyseyen OF the re-
vised statutes, chapter two hundred and twenty
of the acts Of eighteen hundred and seyenty-one,
chapter seyentyfOur of the acts OF eighties hundred
and seyentytw6 chapter one hundred an my -four
Of the acts Of eighteen hundred and seventy three,
chapter two hundred and siXty-SiX OF the acts OF
eighteen hundred md seventy. four, ard chapter
forty-seyen OF the ACTS Of eighteen hundred and
seventy-hye, are hereby repealed.
a n, q