The Superior times. [volume] (Superior, Wis.) 1870-1912, 1891-05-16
Published May Q. 1891.
AN ACT to amend pier 625 Of the laws OF 1859
titled. AN regulating building aud loan sssoois


AN ACT to amend chapter 525 Of the laws 1859
titled AN regulating building aud loan sssods
Tie people OF the state Of Wisconsin. represented ia
SENATE and SsrulhIY, do errri - TOLL vs..
section T. section ], OF said It.Tla hereby amend
by striking after the worl state where II
cur- in the sixteenth line OF stud section, Tie words,
thc securities Tie actual cash value Of one hundred
thousand dollars OF the kind mentioned IN section Of
ms Ill 10 be approved and accepted by SAID ststa
Treasurer aud y and inserting IN lieu thereof the
words. hundred Thousand dollars 10 be" and ~
tr ir words and and such where they o,c}- in
s.ta I.u" the word upon and by striking cut tLs
tweu'yslNth line Of said section aud by inserting IN
after the word Treasurer" where IL occurs IL the
twenty seventh line Of sad section the "oTdi and II
approved by hIln after such exam nation, he"
Section OF SAID chapter is hereby amended b. sTit
ing omt tie word securities where u occurs In he
first line OF said section aud Inserting IN lieu
word "unoIut,' aud 10y sinking out hflrT the word
"sse where II occurs IN the eiEiih Ire Of said sec
ton, The words, 'or of persona! Obligations Of members
orIiTrry ,rs OF business of ruCh association and se
by mortgages real estate worth at least,
bers thereon, exclusive Of premiums"
sad section further amended by striking out after
the rJi1rs' where II occurs IN the tWeutE
eighth line said section, the words, on deposit, sud
BY siiaing ont after tue word act where II occurs In
wholly or partially eHuaguished by payments on tie
saHe otherwise OF such securities aud inserting in
~ecti.n J. 30 fgreign building .nd loan sssoci.to.
any klud and foreign association corporation
representing itself to be building aud iosn asEoeia
snd assoc atoj corporation organized under the
laws other sjuie territory and doing business
the MANNER provided for mutual loan and build
r ,prl.rn u~ by CuHpter 95, OF Tho revised statutes
OF this state similar st inns mt plan, Shall
sst, shares receive money any business
this stale, uieas such eiatiyn snail have and
Keep deposit With the state treasurer OF Wisconsin
IN TRUST Ter the brUent ana security Of oil its members
In tAs state, hundred thousand dollars to De held
in aforesaid, until all shares Of suC stion
held bv residents of this state shall have fully
redeemed ami paid OIL by such association and until its
contracts and obligations TO persons ana members
residing this state snAu bsvs been fully performed
ANA discharged. and upon such deposit the
snail renew HE certificate Tor gICb deposit,
thtTnu|pu the comm ssioneT Of insurance renew
lis certificate ~ authority 10 said association
inaftCr provided.
section :. The amount 70 b. deposited mentioned
In section J. OF thus act may consist OF bonds
ury notes OF the ited states, or national bank ttoC
bonds Of this state any other slate Of The United
states, city, town county OF TINS state
other state tie United state having legal authority
to the same. All dividends sui interest which
may securities held 10y the treasurer
provided for herein, and all dues uOuthiv payments
which become payable stock pledged security for
loans the mortgages for which deposit with the
state treasurer IN acCoi dance With the PTovsious Of
TINS at {, be collected and retained iy tie
ton teio>4tIIE sUch securities mortgage so long
s h alton remains solvent ana faithfully per
form. all contracts with It's members s-cuT lies
OH deposit provided herein, nEy from ums to tina
he Withdrawn If others 81 equal yaius aud Of The
character named in this section therefor.
IT securities provided IN tLtH sol shall depIe
added, that the deposit may At all times be kept
good and OF the value OF one hundred thousand
dollars.
section 3. This shall take effect and De IL forCs
from and after lts passage and publication.
Approved April q, l-yl.