The Vermont watchman. [volume] (Montpelier, Vt.) 1883-1911, 1884-12-10

| the rules, restrictions and conditions provided
| by law, he shall by written order delivered
| to the treasurer of such corporation direct
such corporation to discontinue such Illegal
| unsafe or unauthorized practices, and to proceed
in strict conformity with the requirements of
| law. And whenever such corporation shall re-
fuse or neglect to comply with such order
or whenever it shall appear to the inspector of
| finance that 1t is unsafe or inexpedent for such
| corporation to continue to transact business,
he shall proceed against such corporation as
provided in the preceding sections regulating
proceedings against insolvent savings banks
and trust companies. But the court of chan
Gerry before which such proceedings shall be
instituted, before the appointment of re-
ceiver, shall have power to allow such cor
poration to proceed and continue to transact
business in conformity with the requirements
of law, subject to such orders, conditions or
restrictions as the evidence in the case, and
the situation of the parties and the interests
| involved shall seem to require.
MISCELLANEOUS.
SEC. 43. The msnomer of savings bank
or savings institution in q deed, grant con
veyance contract or other instrument, shall
not vitate nor impair the same, if such cor
poration is sufficiently described therein to
ascertain the intention of the parties.
SEC. Al. The powers, privileges, duties
! and restrictions conferred and imposed upon
savings bank savings institution or trust
company by its charter or act of incorpora-
ton, are hereby abridged, enlarged or modified,
as each particular case requires, in such man.
ner that each charter act of incorporation is
made to conform to the provisions of this
chapter, and to such amendments as may be
made thereto; and each corporation shall pos
sess the powers, rights and privileges and be
subject to the duties and restrictions and liza
bilities conferred and imposed by this chapter,
anything in their respective charters or acts of
incorporation to the contrary Notwithstanding
But nothing in this act shall affect the legality
of investments heretofore made, or of trans
actions heretofore had, pursuant to the law in
force when such investments were made or
transactions had, nor to require the change OF
investments for those named in this chapter,
except as the same can be done gradually by
the sale redemption of the securities so in.
vested, in such manner to prevent loss OF
embarrassment in the business of such cor
poration, or unnecessary loss or injury to the
borrowers on such securities
SEC. 40. A trustee or other officer of
savings bank, savings institution or trust com
pany, who Intentionally violates any of the
provisions of this chapter, shall be fined moi
less than one hundred nor more than ter
thousand dollars, or imprisoned not less thar
one year nor more than ten years, or both such
fine and Imprisonment, in the discretion OF
the court: and the states attorney for the
county where such savings bank or institution
is located shall prosecute such violation CT
complaint thereof by the inspector of finance
Approved Nov. %, 1884.
No. 42-An act relating to officers of saving.
banks, savings institutions and trust com
panies
1t is hereby enacted ETC..
SEC. 1. When the treasurer of a saving
bank, savings institution or trust company
shall hold the office of secretary or clerk il
the said corporation, the records of such cor
poratlon shall be counterSgned and atteSteC
by the president thereof or by director OF
trustee appointed for that purpose.
SEC. :. All acts and parts of acts inconsis
tent herewith are hereby repealed.
Approved Nov. %, 1891.
No. 43.-An act to equalize the tax on depos
its in Savings Banks Savings Institutions
and Trust Companies.
1t is hereby enacted etc:
SEC. l. Section eighteen of an act entitled
an act to provide revenue for the paymen
OF State expenses" approved Nov. %, 1882, il
hereby amended so as to read as follows
Every Savings Bank, Savings Institution ant
Trust Company incorporated by this State
and doing business herein. shall pay a tax t,
the State, which is hereby assessed at the rat,
OF slX-tenths OF one per cent annually upol
the average amount of its deposits, including
money or securities received as trustee under
order OF court otherwise, and accumula
lions, deducting therefrom the average amount
OF its assets invested in real estate, owned by
such corporation, and also average amount i
any, of individual deposits in excess of fifteeI
hundred dollars each, listed to depositors il
towns in this State where such depositor
reside
SEC. 2. Section twenty of the act of 1852
referred to in the preceding section il
hereby amended SO as to read as follows: The
tax assessed by the preceding section shall
be payable One-half semi-annually in the
months of February and August, and shall be
based upon the average amount of its deposits
and accumuations during the six months
terminating with the last day of December OF
June next preceding No other tax shall b,
assessed on such deposits or accumulations o.
against the depositors thereof except indi
yidual deposits exceeding in the aggregat,
fifteen hundred dollars
SEC. 3. Section nineteen of the act of 1882
referred to in the first section OF this act, il
hereby repealed.
SEC. 4. This act shall take effect from it
passage.
Approved Nov. 26, 1884.
No. 50-An act in addition TO chapter eighty
seven of the Revised Laws.
1t is hereby enacted, etc:
SEC. |. Any person now confined or who ma,
hereafter be confined in any insane asylum il
this State. under an orderof the court. pursu
ant to sections 1902 and 1903 of the Revise,
Laws shall, II he have not sufficient estate o
his own for that purpose, be supported a
such asylum at the expense of the State.
SEC. ,. This act shall take effect from it
passage
Approved Nov. %, 1854
No 51-An act in amendment of numbe
forty eight of the acts of 1882 relating TO tn
insane.
1t is herby enacted, ETC.:
SEC. |. Section one of act number forty
eight of the acts of 1889, is hereby amended s.
as to read as follows No person, except Il
hereinafter provided, shall be admitted To, o
detained in an insane asylum as a patient o
inmate, except upon the certificate OF sucl
persons insanity, made by two physicians
legally qualified, and residents of this State
and such certificate shall contain statemen
that he is legally qualified to practice as
physician, and the reasons for adjudging sucl
person insane, and shall be sworn to by sal,
physicians before person duly qualified Il
administer oaths. And the two physician
making such certificate shall not be member
of the same firm and neither shall be an Off
Ger of an insane asylum in this State.
SEC, .. This act shall take effect from it
! passage.
i Approved Nov. %, 1884.
No. 52.-An act relating TO the insane
Fit is hereby enacted, ETC.:
SEC. /. Section 2S9S of the Revised Law
lss hereby amended so as to read as follows
The, supervisors shall visit the Vernon