New Ulm weekly review. [volume] (New Ulm, Minn.) 1878-1892, 1891-04-29

same may BE surrendered to Il upon ding
with the depository the AFFIDAVIT OF the presl-
dent or VICE president and secretary OF any
auch association that such indehtednesS mas
been paid in full. which affidavit SHAH pc
first presented to the public examiner ana oy
which Default has been made may Be surren-
dered as aforesaid for foreclosure upon IKE
affidavit that default exists and that sucn
mortgage is Withdrawn for the purpose OF
foreclosure Of suit
SEC. 8. No building and loan association
0, ganized under the laws Of any other state,
territory or nation, shall do business In THIS
state unless such association shall have Sc
sann dollars 6 i00, 0oo). and of the character
mentioned In this act on deposit in trust for
all its members and creditors with soma re-
spons1ble trust company duly incorporated
under the laws of such state or territory IN
the United States. or with some authorized
officer of this or some other state OF the
United states. Certificates Of such deposit
shall be made to the public examiner OF this
state. certifying the possession OF such secus-
itiss, which shall not thereafter be surren-
dered without the authority or consent of the
public examiner or other authorized officer
OF the state or territory in which said compa-
SEC. 9. Every building and loan associa-
snon organized under the laws Of any other
state, territory or nation shall. before
ps Wfb 70 one IN TINS
state duly authenticated copy of its char
ter Or articles Of incprporation: second fle
with the public examiner OF this state the
certificate Of the authorized officer of an
other state, showing that securities to the
vaine OF one hundred thousand dollars
tSloa,N0) are on deposit with such state
ohcer or duly incor porstsd trust com pnny i'll
trust Tor all the members aud creditors Of
such building and loan association; third,
file with the public examiner Of this state 4
duly authenticated copy OF a resolution
adopted BY the board Of directors of such as
ISOLATION, STIMULATING, and asreeinssthas if
be served on such examiner, and q. copy
thereof be mailed postage prepaid by tho
party procuring the issue Of the same, or his
Its home office. then such service and mail.
Ing OF such process shall have the same eff
feet as personal service on said association
In this state, and also an agreement that SAID
menced in. any state court Of this stats
against thu same, to the United States
court and Will . pay every judgment
that may be taken against u upon
after the final Judgment shall have been en-
twenty-five dollars (sa5) as fees for fling
papers mentioned in this section.
SEC. 10; When process against or affecting
served on the public examiner the same shall
be by duplicate copies, one Of which shall be
filed in the ONCE Of the public examiner, and
the other by him immediately mailed, postage
prepaid, to the homo Office Of said ascot
alton.
SEQ: II. The word -procs6a" in this act
shall include any writ DECLARATION, summons
ings shall be commenced, or which shall be
issued In or upon any action, suit or proceed
Ing authorized by law IN this state
SEC, y. Service Of process according to
bs IN sscS2 o. hs act
ISOLATION fling such stipulation.
sso 3D. When by ths laws Of any other
state, ter! serritery or ration; any ts5es, anes,
are imposed on building and loan associa-
tons of this state doing business in such
other state, territory or nation. or upon their
agents therein. so long az such laws continns
Of whatever kind. shall be I'm osed upon all
building and loan associations OF such other
state. territory or nation. doing business In
this sss asd ng 5hss her,
organized under ehe laws Of any other state
or territory that shaSi rsmevs any acton that
. :. be eenmenSsd sgainss II IN court OF
:hs this T's s the United ss:, Ssars .ss that
against It upon salt in any eeurt Of de state
within sixty tso) days affair the tradition Of
final Judgment n such cass. or that shall
examiner as hereafter mentioned or state.
ments Of the amount and value OF its stock
held in this state a. hereafter required or to
pay the fees OF tho pubic examiner % pro-
sused IN hi o. Do IND 9s,
shall upon violation Of the provisions Of this
act have no right or authority to DO or trans
act any further business IN ibis state. md the
dee OF determination Of such authority 70 do
business TO be mailed to such cooperation
and to b published in some newspaper
Of general circulation At the capital OF this
attorney general of this state, who shall in.
stitute such proceedings In the matter - the
case may require. Provided. any such cor
poratlon may BE- again authorized 70 DOM
IS the public examiner may deem tos and
proper and upon ruu compltknss Wssh the
provisions Of this act
SEQ Is. All building and loan associations
hereafter incorporated in this state shall
dollars (S2, 0J0,0O0 at the time Of the incor-
pcration. Every share Of capital stock issued
by any such association shall be OF the par
provision shall not DO construed to forbid the
issue by any such association OF paid.np Ger.
ufcates for a less amount i'll liquidation Of
stock surrendered for cancellation or with.
Provided, that such paid-up certificates shall
be certificates of indebtedness only. and tho
stock in liquidation Of which certificates are
issued shall be thersupon surrendered and
SEC. l6. Any building and loan assoc,a-
ton heretofore or hereafter incorporated
under the laws OF this state. may ut any time
increase the amount OF its capital stock BY
directors. Provided that no such increase
shall be made unless res-fourths of the
capital stock previously authorized has actu-
ally oeen issued and the amount OF increase
It'll A..
amount Issued previou. to the time Of snch
increase. Any amendments OF the articles
OF incorporation OF any snch association In
any other respect shall be done at an annual
scented, and voted OF such annual meeting on
the question OF such amendment or amend
ments and only uDoD the notice hereinafter
provided to be given
association increases Its capital stock, or 9TH
erwise amends its articles Of Incorporation as
provided in this act q copy Of the resolution
OF the board OF directors or stockholders max
verified by oath Of the president and secre-
tary Of such association. shall be fled In the
Office Of the register Of deeds OF the county
in which the home Of said association is To-
state, and he published four successive tiInas
In some daily or weekly newspaper published
ct the capital Of the state, Or in the county
where the association has its home office.
the Office Of the secretary Of sRse.
SEC. 49,. In each yea. every building and
loan association organized under the Ia u Of
this state and dei-,s bustness ln thia or any
other terrilors shsA, within thirty (so) days
after the end Of the yeax for which its report
TO its Stockholders is made, deposit with the
public examiner an annual report Of its of.
fairs and operations for said year. Such re-
dent and secretary Or BY three directors Of
the association and shall contain the follow
ing information: First, the amount Of auth Or
lied capital. and the par value Of each share
during the year. Third, the number Of shares
cancelled and withdrawn during the year.
Fourth. the number OF shares In force
at the end Of tho year. Fifth, detailed
statement Of the rsesipts and disbursements
during the year. Sixth. a detailed statement
Of the assets and liabilities at the end Of the
year. Such report shall also show the fetal
amount received as dues on stock ander
each separate class or Kind Of stock and all
deductions therefrom for expenses, with
drawals, Cancellations forfeitures, refunded
or otherwise, and the amounts il any. Of
such profits credited to stock or SUBJECT 10
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