The Republican journal. [volume] (Belfast, Me.) 1829-current, 1877-02-22
Chapter 2lS.


to the government powers, duties, privileges and
liabilities of savings banks and institutions for
savings.
BE enacted by the Senate and House Of Representa-
tsue& in Legislature assembled, as follows:
SECTION /. Savings banks and Institutions incor
porated under the authority of this state, may ex
rules and be subject to the duties, liabilities and
provisions in their charters, in the following
TONS and in the general laws relating to corpora
tons, unless otherwise specially provided.
Sect. The officers OF every such corporation
shall consist of president, treasurer, and when in
the opinion of the trustees necessary, assistant
treasurer and not less than i've trustees not
than three of whom shall be directors in any ma
tional bank, nor more than two OF whom shall be
directors in the same national bank who shall elect
from their number, or otherwise such other officers
As they may see fit.
SECT. }. Such officers shall be sworn to the faith
ful performance Of the duties of their office, and
shall hold their several offices until others are
chosen and qualified in their stead.
SECT. l. The members of the corporation shall
annually, at such times may be provided in their
bylaws elect from their number not less than five
trustees, who shnll have the entire supervision and
cept SO far as may be otherwise provided by their
bylaws. Any trustee who shall become trustee
or officer in any other say:nSs corporation shall
SECT 5. The trustees, Immediately after their
election and qualification, shall elect one of their
number for president who shall also be president
Of the corporation. They shall also elect treas
urer, and when deemed necessary, an assistant
treasurer, to hold their offices during the pleasure
the assistant treasurer, il there is one, shall be ex
oicio clerk of the corporation, and Of the trustees.
The treasurer and assistant treasurer snail give
of the duties of their offices, in such sums as the
trustees may decide to be necessary for the safety
of the funds, and such bonds hereafter given shall
continue and be valid from year to year so long as
they may be elected and hold said offices, subject to
renewal whenever ordered by the trustees or bank
examiner. Said bonds shall be recorded upon the
books of the Institutions and the bank examiner
shall annually examine the same and inquire into
AMI certify to the sufliciency thereof and when he
shall deem any such bond insufficient he shall
order new bond to be given within tune by MN
specified. They shall receive compensation to be
fixed by the trustees. The trustees may receive
such compensation for their services in making
aminations and returns required by their bylaws
and the laws of the state, as may be liked by the
corporation at any legal meeting thereof
SECT. G. If any office becomes vacant during the
year, the trustees may appoint person to NIL the
same until it is allied at the next annual meeting.
SECT. I. Such corporations may at any time
hold special meetings by order OF the trustees ana
the treasurer shall also call special meetings upon
application in writing of ten members Of the cor,
poration. Seven Gays previous notice Of all
annual meetings shah be given by public adver-
tsement in some newspaper of the county where
the corporation is Established or If there Is no such
puper, then, in the state paper.
SECT. g. Every such corporation shall consist of
not less than thirty members, and may, at any legal
meeting by q majority of at least two thirds of
those present elect, by ballot, any citizen of the
county wherein the corporation is located, to be
member thereof. No person shall continue to be
member after removing from the state. Any
Der of the corporation who shall fail to attend the
annual meetings for two successive years shall
cease to be member unless reelected by vote of
the corporation.
SECT. .. Every such corporation may receive on
deposit for the and benefit of depostors. sums
of money offered for that purpose; but shall not
not receive from any depositor directly or indi
rectly, over two thousand dollars aud no interest
shall be paid to any depositor for any amount
Vt deposit said sum. except for deposits by
widows, orphans, administrators, executors, guar
dams, charitable Institutions, and as trust funds
The trustees shall have power 10 refuse any deposit