The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1884-07-24

OllICc anu III cNCTN SuCn ItloIl Sllull
state whether in their or his opinion
the balance sheet referred to in the
report is full and fair balance sheet,
properly drawn up, so rs to exhibit
a correct view Of the state of the
corporations affairs as shown by the
books of the corporation, and such
report shall be read before the cor
poration in general meeting.
The remuneration of the Auditor
or Auditors shall be fixed by the
general meeting appointing such
Auditor or Auditors.
Section 25. Every balance sheet
submitted to the annual or other
meeting of the members of the cor
poration shall be signed by the
Auditor or Auditors and by the
President, Secretary or Manager (if
any) and by the directors of the cor
poration or three of such directors
at the least.
Section 26. Every corporation
formed under the provisions of this
Act shall in addition to the powers
conferred upon bodies corporate by
the provisions of Chapter XXXI of
the Civil Code have the following
powers, subject to all the restrictions
and provisions herein contained to
carry on the business of bank of
discount and deposit in this King
dom, and to make loans of money
on cash credit accounts, promissory
notes, bills Of exchange or letters of
credit and other securities of the
like nature. And it shall also be
lawful for the corporation to deal in
money, bullion, specie, precious
metal and exchanges of and with all
countries and in notes, bills or other
securities for money; and generally
to transact all such other business
as is or shall or may at any time
hereafter be usual or lawful for
establishments carrying on banking
in all its branches, except as bank
Of issue, to do or transact, also to
take security by hypothecation of
bills of lading for the payment of
any bill or bills of exchange, drawn
against any shipment of any de-
scription of produce, bullion or
merchandise shipped for expectation
to foreign ports, or from foreign
ports to any port of this King
dom or from one port to another
in this Kingdom. Also to make any
advances of money to the proprietors
of any sugar mill or sugar, or rice
plantation ON condition of receiv-
ing in payment rs security only
for such money the crops of sugar
and other produce of such proprietor.
And also to take and accept and
| take such real estate as shall be
mortgaged to it in good faith by way
of security, such as shall be conveyed
to it in satisfaction of debts pre-
viously contracted, such as it shall
purchase at sales under judgments,
DEGREES or mortgages held by the
corporation or shall purchase to
secure debts due to it. But no such
corporation shall hold the possession
| of any real estate under mortgage
or the title and possession of any
real estate purchased to secure any
debts due to it for longer period
| than five years. 1t may hold and
dispose of every kind of personal
property, chattels, wares and mer-
chandise, franchises or incorporeal
rights and easements which it may
have taken in good faith as security
in the ordinary course of its business
as the interest of the corporation
may require.
SECTION 27. If for any reason any
corporation formed under this Act
desires to disincorporate and wind up
its affairs, it shall present petition
to the Minister of the Interior, to-
| gether with certificate setting forth
that at meeting of its stockholders,
called for that purpose, it was de-
cided by vote of three-fourths or
more Of the stockholders to dissolve
the corporation, which certificate shall
| be signed by the presiding officer and