Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1882-02-08

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three hundred and thirty-one of the revised stat
| utes. ERNST G. TIMJE
| Secretary OF State
Published January 81, 1897
CHAPTER 1.
AN ACT to amend sections 2010 2011 and 2012 of the
revised statutes relating to mutual loan and build
| ing societies.
The people OF the state of Wisconsin, in
senate and assembly, do enact follows:
Section !. Section POLO of the revised statutes is
hereby amended by inserting after the word "of in
the third line of said section, the words: Not less
than twenty-five than " so that said section
| shall read as follows: Section 2O1O The capital
stock OF any such corporation shall not exceed five
hundred thousand dollars and shall be divided into
shares of not less than twenty-five, nor more than
two hundred dollars each. If any such corporation
heretofore or hereafter organized shall have CAPT
tai stock less than the of five hundred thousand
dollars, it may, in the manner prescribed in section
one thousand seven hundred and seventy four, in
crease its capital stock to any amount not exceeding
the limit hereinbefore fixed. But the resolution
proposing such increase must be offered at the regT-
lar meeting next preceding the meeting at which
the same shall be voted upon. Payments for such
stock shall be made in instanents not exceeding two
dollars each on each share, at such time and place
the bylaws shall prescribe and every share of stock
shall be subject to lien for the unpaid installments
and other charges incurred therein. The bylaws
shall prescribe the form and manner of enforcing
such lien. The stock may be issued in one or more
successive series. in such amount the board of
directors the stockholders may determine and
new shares of stock may be issued in lieu of shares
withdrawn or forfeited. Any stakeholder wishing
giving thirty days notice of such intention, and
shall then be entitled to receive the amount paid in
by him and such proportion of the profits the by
laws may prescribe, less all fines and other charges
| due such corporation; but no stakeholder whose
stock s held in pledge for security shall be allowed
| to withdraw; and at no time shall than one
half OF the funds then in the treasury be applicable
to the demands of withdrawing stockholders with
out the consent of the board of directors. Upon the
death Of stakeholder, his legal representatives
shall be entitled to receive the full amount paid in
by him and legal interest thereon first deducting all
| charges that may be due on the stock; but fines
shall be charged to d deceased members account
after his decease, unless his legal representative
shall have assumed the future payments the
stock
| hereby amended as to read as follows: The by
laws of every such corporation shall provide for the
ratio and manner of voting by its members, and fix
the time OF holding periodical meetings at which the
money in the treasury shall be offered for loan in
open meeting and the stakeholder who shall bid the
highest premium for the loan shall be entitled to
loan OF at least the full amount of share for each
share OF the stock held by him. but not exceeding the
sum then in the treasury and offered for loan upon
giving good and ample security upon property sit
uated in the county where such corporation is 10
Gated, or such other ample security the board Of
directors may accept for the repayment of the loan
provided that stakeholder may borrow such frac-
tional part of the full amount of share as the by
laws may prescribe. In the borrower shall ne
gect to offer security shall offer security that is
not approved by the board of directors, within the
time prescribed by the bylaws, he shall be charged
with months interest, together with any expense
incurred, and the money shall be reloaned at the
next periodical meeting. The premium bid by
borrower may be by a certain sum or percentage on
the loan, to be deducted in advance from the
loan, or may be by certain periodical pay
1neDts during the existence of such loan, the by
laws may prescribe In of the non-payment of
installments on shares, interest premium by Dor
rowing stockholders for the space of six months
after due, payment of the whole principal and inter
est, without deduction of any premium paid, or in
terest thereon, may be enforced by proceedings on
their securities according to law
| Section 3, Section the revised St3tutps
hereby amended by inserting after the word shall,
where it in the third line of said section the
words sin all cases where such premium de-
Quoted from the loan in ADVANCE so that said Sec
| ton shall read follows: Section 2O12. borrower
may repay loan at any tine and in case of repay
ment thereof before the expiration of the term for
which the loan made there shall, in all cases
where such premium deducted from the loan in
advance, be refunded to such borrower such proper
ton of the premium paid as the part of the term
expired bears to the whole term of the loan; and
when loan is collected by process of law, and the
amount collected by the corporation exceeds the
amount of the loan taken by the borrower with the
interest and charges, the money shall be reoaned at
the next periodical meeting and the excess recov-
cred beyond the amount required to pay the loan,
with interest and charges, shall be returned to the
borrower from whom the money collected,
his legal representatives but the corporation
shall have issued its stock in SERIES such reloan shall
be made only to stockholders of the SERIES and
If the premium received for the relOan shall be
greater than that originally given by the defaulting
borrower no part of such excess OF premium shall
be paid to him. Any defaulting borrower may, at
any time after the securities given by him have been
collected by such corporation, withdraw his stock
upon the same terms prescribed in section two
thousand and ten, but the corporation may retain
out of the moneys due upon such withdrawal so
much may be requisite to it from loss in
the amount collected shall not be sufficient to pay
his loan with interest and charges.
Section This act shall take effect and be in force
from and after its passage and publication.
Approved January g. 1882
Published January %, 1897
CHAPTER 3.
AN ACT fixing the terms of court in the Tenth
judicial Circuit.
The people of the state of Wisconsin, represented in
senate and assembly, do enact as follows:
Section 1. The general terms of the circuit court
for the tenth judicial circuit shall be held fol-
lows: In the county of Shawano, on Tuesday after
the second Monday in January and. Tuesday after
the first Monday in July. In the county of Door,
on Tuesday after the third Monday in February and
Tuesday after the third Monday in July. In the
county of Marinette, on the second Monday in
March and the second Monday in November. In
the county of Langlade, on the last Monday in
March and Tuesday after the first Monday in Sep
TENDER. In the county of Brown, the first
Monday in April and the first Monday in October
In the county of Oconto, on the third Monday in
May and the third Monday in September. In the
county of Outagamie. on the first Monday in June
and the first Monday in December.
Section 2. Every general term in the counties of
Marinette, Oconto, Brown and Outaganie shall be
special term for the whole judicial circuit, at which
any and all business may be done arising pend
ing in any county of said circuit which might be
done at general term for the county in which such
business arises is pending except the trial of is
sues of fact by jury.
Section 3. In the county of Brown a special term
for the whole circuit shall be held the fourth
Monday in January, at which any and all business
may be done arising pending in any county
of said circuit which might be done at general
term for the county in which such business arises
or is pending, not requiring the Intervention of
jury.
Section 4. All acts or parts of acts inconsistent
with this act are hereby repealed.
Section 5. This act shall take effect and be in force
from and after its passage and publication.
Approved January 27, 1882.
Published February 2, 1882,
CHAPTER 4.
AN ACT to appropriate the sums of money therein
named for the payment of Deficiencies at state in
situations and for other purposes.
The people of the state of Wisconsin, represented in
senate and assembly, do enact as follows;
Section /. There is hereby. appropriated, out CT
any money the general fund not otherwise appro-
priated, the following sums of money to the nstitu-
lions below named and for the purposes specified,
to wit: To the Wisconsin State Hospital for the In
sane the sum of twenty-three thousand dollars for
the payment of liabilities account of current ex-
penses contracted prior to January 1, 1882 to the
Northern Hospital for the Insane the sum OF twelve
thousand dollars. for the payment of liabilities on
account of current expenses contracted prior to JAN
uary l. 1882 To the Wisconsin Institution tor the
Education of the Deaf and Dumb the sum of twelve