The Superior times. [volume] (Superior, Wis.) 1870-1912, 1882-02-11
Published January q, 1891

Published January q, 1882
CHAPTER ].
AN ACT To amend sections 201O 2O11 and 2O12 of the
revised statutes relating to mutual loan and build
ing societies.
The people of the state of Wisconsin, representedin
senate and assembly, do enact as follows:
Section l. Section POLO of the revised statutes IS
hereby amended by inserting after the WORD ol' Ia
the third line of said section the words: Not less
than twenty-five than so that said sectlon
shall read follows: Section @pl0. The capltaf
stock of any such corporation shall moi exceed hve
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 corporaaons
heretofore hereafter organized, shall have capt.
tai stock less than the sum of five hundred thousano
dollars, it may in the manner prescribed IN secuou
one thousand seven hundred and seventy -four, IN
its capital stock to any amount not e1ceeding
! the limit hereinbefore fixed But the resolution
proposing such increase must be offered at the regu
/ lar meeting next preceding the meeting at which
| the same shall be voted upon. Payments for such
STOCK shall be made in nstalments not exceeding TWO
dollars each each share, at such time and place as
the bylaws shall prescribe, and every share OF stock
shall be subject TO lien for the unpaid lnsalilehS
and other charges incurred therein. L he by-law7
| shall prescribe the form and mann OF er1orclnE
| such lien. The stock may be issued in one or More
| successive SERIES in such amount as the board OF
directors or the stockholders may determine, ahtA
shares of stock may be issued in lieu of shares
| withdrawn or forfeited Any stakeholder Wishing
| to withdraw from the corporation may do so by
! 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 as the by
laws may prescribe less all fines and other charges
due such corporation; but no stockhoder whose
stock is held in pledge for security shall be allowed
to withdraw; and at no time shall more than one
half of the funds then in the treasury be applicable
| to the demands of Withdrawing stockholders with
out tue consent of the board of directors. Upon the
death of stakeholder, his legal representatives
shall be entitled to eceiye the full amount paid in
by him and legal interest thereon, first deducting all
| charges that may be due the stock; but no fines
shall be charged to deceased members account
after his decease, unless his legal representative
shall have assumed the future payments on the
stock
Section . Section 2O11 of the revised statutes is
hereby amended to read follows: The by
laws of every such corporation shall provide tor the
ratio and manner of voting by its members, and tx
the time of holding periodical meetings at which the.
money in the treasury shall be offered for loan iu
opeD meeting and the stuckholder who shall bid the
highest premium for the loan shall be entitled to
loan at least the full amount of share for each
share of the stock held 10y 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 To-
Gated such other ample security az the board Of
directors may accept for the repayment OF the loan
| provided that stakeholder may borrow such frac-
tOnal part of the full amount of share as the by
laws may prescribe. In the borrower shall ne
glect 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 one months interest together with any expense
| incurred, and the money shall be reloaned at the
| next periodical meeting. The premium bid by 4
| borrower may be by certain sum or percentage on
the loan, to be deducted in advance from the
loan, or may be by certain periodical pay
meDts during the existence of such loan, as the by
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 2012 of the revised statutes is
hereby amended by inserting after the word shal,'
where it in the third line of said section, the
words sin all case where such premium was de-
Quoted from the loan in advance" that said Sec
ton shall read as follows: Section 2012. borrower
may repay loan at any time and in case of repay
ment thereof before the expiration of the term for
which the loan was made, there SHALL in all cases
where such premium deducted from the loan in
advance, be refunded to such borrower such proper
on OF the premium paid as the part OF the term I'M
expired bears to the whole term of the loan; and
when loan IL 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, or
his legal representatives, but in the corporation
shall have issued its stock series, such reoan 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 detduung
| borrower no part of such excess OF premium shall
be paid to him. Any def 4ulting 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 letain
out of the moneys due upon such withdrawal so
much as may be requisite to save it from loss in case
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 DC. 1882
Published January 2S, 1882
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 l. The general terms Of the circuit court
for the tenth judicial circuit shall be held as fol-
lows: In the county of Shawano, on Tuesday after
the second Monday in January and Tuesday after
the first Monday i'll 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
the county of Langlade on the last Monday in
March and Tuesday after the frs. Monday in Sep
TENDER. In the county of Brown, on 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
Marnette, Oconto, Brown and Outagamie shall be a
special term for the whole judicial circuit, at which
any and all business may be done arising or pend
ing in any county of said circuit which might be
done at general term for the county in which such
business arises pending, except the trial Of is
sues of fact by jury.
Section B. In the county of Brown a special term
for the whole circuit shall be held ON 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 f. All acts parts of acts inconsistent
| with this act are hereby repealed
Section 5. This act shall take effect and be in force
from aud after its passage and publication.
Approved January 81, 1882.
Published February 2, 1921
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 igIows;
Section ]. There is hereby appropriated, out Ct
any money in the general fund not otherwise appro-
priated the following of money to the insttu-
tons 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 l, 1892 to the
Northern Hospital for the Insane the of twelve
thousand dollars. for the payment of liabilities on
account OF current expenses contracted pror to Jan
nary L, 1882. To the Wisconsin Institution for the
Education of the Deaf and Dumb the sum of twelve
thousand dollars for the payment of liabilities and
for current expenses to March l. 1892 and the sum
OF eight hundred dollars to complete refrigerator,
TO the Wisconsin State Prison the of ten thou
sand dollars for the payment of liabilities and cur
rent expenses to March /, 1882
Section 2. This act shall take effect and be in force
from and after its passage and publication.
Approved February 2, 1882.
AN actor who, being lazy and having a
bad memory, insisted that all letters and
/ other documents which he had tO read on