Little Falls transcript. [volume] (Little Falls, Morrison County, Minn.) 1876-1894, 1891-05-08

held by them OF the stock OF said association
Association coannes its sales so Of
stock within the limits aforesaid. it shall not
be subjectto the provisions hereof, and any
sales of stock outside the limits Of said eoun-
ties made after filing Of such statements BY
ton, shall subject such person to all tho PEN
alties prescribed In sec ton "a Of this aot
Provided. further, that nothing In this 40
ton shall be so construed 70 prevent the
stock Of any member Of such association.
SEC. "A. Every sucn association shall b
assessed for and pay taxes upon Its once
furniture and fixtures and oil real estate &C.
6Ec. IS. The amount standing 70 the
credit Of each member Of any such asyooia.
t1on upon Its books, shall be considered and
held as the individual credit Of such mem
held by him for taxation at their real value
in money In the county of his residence, the
same as other credits are listed, except shares
upon which loans nave been made Or money
SEC. 3d. 1t shall be the duty Of every such
association not incorporated under the laws
Of this state to make and forward to the pub
lie examiner upon the first Gay OF May IN
and the withdrawal value Of all is stock held
and owned by residents Of this state, together
with the place of residence Of every such
stockholder except those having loans q
shall be the duty Of said bubble examiner to
make out and forward to tho county auditors
of the proper counties statement OF me
stock held by them. And it shall be the duty
Of the said county auditors upon receiving
the statements provided for In this and the
foregoing sections, to furnish the assessors Of
each town In his county having such stock
holders with the names Of such stockholders,
and the value of their stock % given IN such
statements, for the purpose Of assessment.
SEC 81. Any such association shall have
authority to consolidate with one OF more
other corporations organized for the same
purpose, upon such terms as may be agreed
upon whom such consolidation shall Pc
members, and to transfer to euoh consoii-
dated corporation Its entire assets, subject to
the vested right Of its members.
SEC. -. All securities, cash, @ortgsEe1,
certificates, bonds, notes, receipts state.
ments and records heretofore deposited with
or received by the state auditor parsuant to
law shall. upon the passage OF this act, ne
transferred and delivered by him to the state
who. with his sureties, shall be liable fer tho
safe keeping thereof. The treasurer shall
deliver up such securities only upon the
written order Of the public examiner, except
snch association heretofore required to be
deposited with the state auditor shall here
after be deposited as In this act provided:
Upon filing any mortgage. tho treasurer shall
and upon withdrawal OF the same he shall
receive fee OF ten 10y cents therefor, TO b
paid by tho association 10 filing or with.
drawing It.
treasurer respectively shall retain all the fees
by this act provided to be paid 70 them OF
either of them in lieu OF any allowance Tor
clerk hire made necessary by the extra labor
hereby authorized and empowered to make
and execute any aud all orders, releses OF
other papers which the state auditor was here.
totore authorized to mako or execute in the
premises.
SEC. 40. At least thirty (oo) day. prior 70
any annual or special meeting Of the stock
holders Of any such association governed BY
this act. notice stating the time and place
postoftice at the headquarters sfsueh assecis.
ton, directed to each member to bis address
as the same appears 1t such time on the
books Of the association, and when SO de-
posted; postage prepaid sh9i b. dssm esst
Ing. and there shall be attached TO and &C.
nent or amendments 70. the articles Of in:
Of spy sSsa ses1s .b Sd
elected at such meeting. ANY. smend-
nens 50. proposed and Of which such
notice shall have been duly given
may be adopted at such meeting by tho vote
of Two thirds Of the stock repFesentea and
alton entitled to vote ut such meeting may
vote in person or by proxy; but no person
shall be appointed such proxy who shall not
reside in the same county where tho stock.
holder so appointing him resides At tho time
Of such appointment, except that stockhold-
ers residing outside Of THIS state may appoint
proxies residing In any county IN this STATE;
any case who is. at the time an officer, agent
Or employe Of any such association; and no
person shall hold proxies 70 exceed five hun
,1red votes for any such meeting.
Upon all questions to be voted upon at
such meeting the vote shall be taken by call
ing the roll Of persons entitled to vote theEest
With the number Of voles which each is en-
titled to cast, and the vote shall be by writ
ten or printed ballot, the form for which
may be prescribed by the board Of directera.
SEC. Al. This act shall take effect and be
and any or ali acts or parts Of acts incon.
aistent herewith are hereby repealed.
Approved April %, 1Sv1.