The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1877-02-27

parsonages not exceeding six thousand dollars in
value and from which no rent is received, shall De
liable to taxation the same as other property
Improved February 8, 1911
Chapter 2lS.
AN ACT to revise and consolidate the laws relating
to the government, powers, duties, privileges and
liabilities of Savings Banks and Institutions for
Be 1T enacted, &c., as follows:
SECT. /. Savings Banks and Institutions incor-
porated under the authority of this state may exer
and be subject to the duties liabilities and provisions
in their charters in the following sections, and in
eaS ami to
SECT. 2. The officers of every such corporation
shall consist of president, treasurer, and when in
the opinion of the trustees necessary an assistant
treasurer and not less than five trustees, not
than three of whom shall be directors in any nat
1onal bank nor more than two Of whom shall be di.
from their number or otherwise, SUCH other officers
as they may see fit.
g., SECT g. Such officers shall be sworn to the faith;
hold their several Offices until others chosen and
qualified in their stead.
SECT A. The members Of the corporation shall
annually at such times as may be provided in their
bylaws elect from their number not less than five
trustees, who shall have the entire supervision and
so far as may be otherwise provided by their by
laws. Any trustee who shall become trustee or
SVee n my ohe9 shall there
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 treasurer
and when deemed necessary assistant treasurer to
hold their offices during the pleasure of the trustees
err if there is one, shall be exoco clerk of the
poratlon, and Of the trustees. The treasurer and
assistant treasurer shall give bonds to the corpora
ton tor the faithful discharge of the duties Of their
offices, In such sums 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 insti
tutions, and the bank examiner shall annually ex-
anime the same and inquire into and certify to the suf
bond insufficient, he shall order a new bond to be
given within time by him specified. They shall
receive compensation to be fixed by the trustees.
The trustees may receive such compensation for
their services in making examinations and returns
required by their bylaws and the laws the state
as may be affixed by the corporation at any legal
SECT g. If any office becomes vacant during the
year. the trustees may appoint person to fill the
SECT. 7. Such corporations may at any time hold
special meetings by order of the trustees; and the
treasurer shall also call special meetings upon appli-
cation in writing of ten members of the corpora
ton. Seven days previous notice of all annual
meetings shall be given by public advertisement in
some newspaper OF the county where the corpora.
ton is established, If there such paper then
in the state paper
SECT. 8. Every such corporation shall consist of
not less than thirty members, and may at any legal
meeting, by a 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 mem.
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 9. Every such corporation may receive on
deposit, for the use and benefit of depositors.
Of money offered for that purpose but shall MOI
ly, two thousand dollars and no interest shalI
be paid to any one depositor for any amount of de-