Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1883-04-17

Thereafter made by aid banks shall be divided ey.
cry three years rataby among the dePosiors ofone.
two and three full years standing. n extra diyi-
dends. No dividends or interest snail be declared.
credited or paid. except by the authority OF vote
Of the board Of trustees, duly entered upon their
records, whereon shall he recorded the yeas and
nays upon such vote.
Trustees o.. savings banks and saving. Institutions
are prohibited from making any semi.annual diri.
dead OF n rate per cent which will make the aggre-
gate amount OF said dividend greater than the &C
ipal earnings Of the bank or Institution Oh hand.
SEcr. :. Section twenty.four CT said chapter i
hereby amended by inserting after the word ''pur.
pose" In the fourth line, the following words and
shal also AZ least In each year cause 10 be
tered on a book for the purpose, the net sum OF
each individual depot, ~ fixed date, and ascer
tain the aggregate OF all such deposits, aud whether
Il agrees With The other books OF said bank that
when amended. said section shall read as folows:
'sKCr. "a The treasurer OF every savings bank
shall. on Saturday Of each and every week. make
and declare trial balance. which shall be recorded
IN book kept for that purpose; ana shall also, Al
least once Ia each year, cause TO be entered on n
book for the purpo.e tn. net of each individu-
nj deposit Mt n fixed date. and ascertain the asgre-
gate of all such depcsits and whether u agrees with
the other books Of aid bank: and said books shall
he open all time for the -pection OF the trus-
tees. corporators and examiner of banks
sECr :. Section thirty-three Of said chapter 10
hereby amended by striking out the word "once.
In the fifth line. and inserting the word twice. 20
that aid section, when amended, shall read rs fol-
lows;
SECT. g. Savings institutions and trust and loan
associations shall be under the charge of the bank
examiner Cor the purposes Of examination. He shall
visit every savings bank, institution for savings and
trust and loan association, incorporated by an.
thorty OF this state. twice In every year. and rs
much oftener M he may deem expedient AT such
visits hs shall have FREQ access 10 the vaults books
and pager and shall thoroughly inspect and exam.
inc all the affair. Of each OF said corporations, and
make such = Ss T 70
and whsiher Il has complied with the provisions OF
Law. He shall preserve In permanent form, full
record OF his proceedings. Including statement OF
the condition Of each OF said corporations copy
OF which statement shall be published by such cor.
poration Immediately afser the examination OF the
came, In u newspaper In the place where such cor
porsiion Is established. or II there be No newspaper
10 such place. then In newspaper published 10 The
srcr.s section ,hiriy-six of said chapter.
as amended by chapter one hundred and ninety,
laws OF eighteen hundred aud eighty, u hereby
amended so that said section, when amended, shall
'Srcr. Sc. whenever any saving. bank. institution
for saving, trust aud loan association, shal be IN
solvent by reason Of loss on or by depreciation IN
the value Of any Of ts assets without the fant OF
the trustees thereof the supreme Judicial court IN
term time or any justice thereof, Ia vacation, shall,
on petition, In writing OF n majority OF the trustees
and the bank examiner. setting forth sush facts. APP
poln, a time for the examination OF the affairs OF
such corporation, and cause notice thereof 10 be
given TO all parties in,erss,cd IN 'aca manner a.,
N. assets and liabilities and from other evidence he
shall be satisfied of the facts set forth in said PETE
ton aud that the corporation has not exceeded It's
now.r. nor failed TO comply with any OF the rules,
re.trictions and conditions provided by law, he may,
n he shai deem II for the interest OF the depostor
and the public by proper decree, reduce the deposit
account OF each deposltor 80 as 70 divide such loss
pro rata among the depo.itors. thereby rendering
The corporation solvent that Its further proceed
ing, would not be hazardous 10 the public. or those
having or placing funds In Its custody and the de-
positors shall not be authorized 10 draw from such
corporation,a larger sum than thu: liked ny Tue
court. except as hereinafter provided; provided,
however that Il shall be the duty Of the treasurer OF
such corporation, 20 keep IN accurate account OF All
ann. received for such assets of the corporation held
Inv n At The time Of fling such petition; and II
larger sum shall bc realised thcrcfrom than the
value estimated Aforesaid BY the cour he shall
M such time or times the court may prescribe,
ender 10 the court true account thereof and there
mon the court after due notice thereof TO all parties
Interested shall declare pro rata dividend OF snch
EXCESS among the depositors NJ the time Of fng the
petition. Such pro rata dividend may be declared