The Republican journal. [volume] (Belfast, Me.) 1829-current, 1877-02-22


tain actions in their own names against the bank
to recover thev deposits but this section shall not
apply to any money traudulently deposited by or
in the maine vi married woman or minor, belong
ing to third person. The receipts of such married
woman OF minor for such deposits and interest or
any part thereof, shall be valid release and dis
charge to the corporation.
SECT 81 Two of the trustees, at least, shah once
i'll each year, thoroughly examine the affairs of the
corporation settle the treasurers account, and re-
port under oath to the bank examiner the standing
Of the corporation, the situation of its funds, and
all other matters which the examiner requires in
manner ana according to the form he prescribes
And the examiner shall seasonably give notice OF
the time and furnish blanks for said examination
and return.
association ball he under the charge OF the bank
examiner the purposes OF examination. He
shall visit every savings bank, institution for
nSS ana trurt and loan association incor ted by
authority II this state in every year and as
much 'Iie'e' as he may deem expedient. At such
VISITS he sJ have free access to the vaults books
aud pa peis. and shall thoroughly inspect and ex-
ainlne all the affairs of each of said corporations
and make such inquiries may be necessary to as
certain It's condition, ability TO fulfill its engage
ments, ana whether it has complied with the pro
visions "i law He shall preserve, in z permanent
form, a full record of his proceedings including
a statement OF the condition of each of said corp0-
ntions, II copy of which statement shall be pub
llshed by such corporation Immediately after the
examination of the same, in a newspaper In the
y ace where such corporation is established or If
there he Ii" newspaper in such place. then in a
howspar@i published at the nearest place thereto.
'PF' Lon ms cAdlllleI may summon al trustees,
officers or agents of any such corporation, and such
other witnesses as he thinks proper, in relation to
The affairs, transactions and condition of such cor
porauon, and Tor that purpose may administer
oaths; and whoever refuses, without iustiGahle
cause, to appear and testify when thereto required
or obstructs said examiner In the discharge of his
iaty, SHAH be punished by fine not exceeding one
thousand dollars. or imprisonment for term net
exceeding two years.
SECT. So. If upon examination of any such cor
poration, the examiner is of the opinion that the
lS iQSolVeDt, that its 10
render Its further proceedings hazardous the pub
lie or those having funds in its custody, he shall
apply, or Ii upon such examination he is of opinion
that such corporation has exceeded its powers
failed to comply with any of the rules restrictions
OF conditions provided by law, he may apply to one
Of the justices of the supreme judicial court to
Issue an injunction to restrain such corporation in
whole or In part from further proceeding with its
business until hearing can be had. Such Justice
may forthwith issue process for such purpose, and
after full hearing the corporation, may dissolve
or modify the injunction, or make the same per
petuai, and make such orders and DEGREES to sus-
pend restrain or prohibit the further prosecution
of the business of the corporation, may be need
in in the premises, according to the of pro-
cecdings IN equityi and he may appoint one or
more receivers trustees to take possession of the
property and effects of the corporation subject to
such rules and orders as may from time to time be
prescribed by the supreme Judicial court, or any
justice thereof in vacation. Such receivers or trus
tees shall annually, in the month Of November
and at such other times the bank examiner NAV
require, make report to him of the progress made
in the settlement of the affairs of said corporation
and the examiner shall seasonaby give notice OF the
time and furnish blanks for the report.
SECT. Sc. Whenever, any savings bank, inst:tu
ton for savings or trust and loan association shall
he insolvent by reason of loss on or by deprecia-
ton in the value Of any of its assets, without the
fault of the trustees thereof, the supreme judicial
court, In term time, any justice thereof in vaca
ton. shall, on petition, in writing, of majority of
the trustees and the bank examiner, setting forth
such facts, appoint time for the examination Of
the affairs OF such corporation, and cause notice
thereof to be given to all parties interested in such
manner may be prescribed; and, if upon an q xami