The Appeal. [volume] (Saint Paul, Minn. ;) 1889-19??, 1901-04-20

held in this state as hereafter required. or
to pay the fees Of the public examiner as pro-.
CURED in this act to be done and performed,
shall upon violation of the provisions of this
sact any further business in this state and
the public examiner shall thereupon cause no
business to be mailed to such corporation and
published In some newspaper OF general cir
c sSa9t at the capitol Of this state, and
general of this state. who shall institute such
proceedings in the matter the case may re-
again authorized to commence ICE, business in this
aF ass Hs at ts ana the pubic bd % 9
compliance with the provisions of this act.
Sec. Is. All building and loan associations
an authorized eapitai Of two 's aiIes eS
collars at the time OF Incorporation Every
sociaton shall be s Of the par r. value Of one
hundred dollars $1,000, but this provision shall
not be construed to forbid the issue by. any
such association of paid up certificates for
less amount, in liquidation Of stock surlen-
dered for cancellation OF withdrawn before
such paid up certificates shall be certificates
OF indebtedness only, and the stock in liquida-
@ It sach and are csndse
Or Ay aanf aa1 aaa aaer Re
the amount of its capital stock by vote of
at least three.fourths of Its beard OF direc.
be made unless three-fourths Of the. capital
stock previously authorized has actually been
issued and the amount Of increase made at
any time shall not exceed the amount is
eued previously to the time Of such Increase.
ton Of any such association in any other re-
spect shall be done at an annual or special
ae ens BY vaed ary vote Of stock X
tion Of such amendment amendments, and
t enly on the notice hereinafter provided to be
Sec: II. Whenever any building and loan
association Increases its capital stock, or 9th
as provided In this act copy Of the reso1u-
tions Of the board Of directors or stockhplders
duly verified by oath Of the president aud sec
rotary Of such association. shall be recorded
county in which the home Office of pe said asoe
alton IS located and IN the Office OF the seere-
lner. and be published four successive times
IN some daily OF weekly newspaper published
at the t Capital of the ssss T in the nn
Proof OF which publication shall be filed In the
Office Of the secretary OF state and public Eek
Sec Is Every building and loan association
organized under the laws Of this state, and
ea Whn y Or d ANY er the end u
t the year for which its report to its stock
soders Is nade depssis with the public ex
operations for said year. Said report shall be
verified under, oath OF the president and score
and shall contain the following information:
First the amount Of authorized capital. and
the number Of shares sold during the year;
third. the number Of shares cancelled and
% wit ~ sTa during the year fourth the mum.
nth. a detailed statement Of the receipts and
disbursements during the year; sixth, a. de-
SHOW the total receSad f as dues sne on
stock and all deductions therefrom for ex-
p, enses, Wthdrawals. cancellations, forfeit.
any. of such profits credited to stock or sub
3ect to such credit. The report shall also show
issue or SERIES and the amount expended dur
Ing the year in payment Of salaries of officers,
Clerks agents ana ID all other employees the
s shaEgss p9f4ntins books ana stationery once
sion paid agents and other persons and all
other items Of expense. In addition to such
file with tho public examiner a detailed and
complete copy, duly certified of the semi
stockholders: Provided. that all such annual
statements herein required to be made shall
be- prescribed therefor by the public examiner,
an! and -, shall correctly show the proportion
for the term reported bears to the gross earn.
iHgs of said association for that term; and
provided further, that all reports required Of
building and loan associations organized under
the laws OF this state, and doing a general
business are also required Of all foreign and
In this state, and all the provisions Of this act
relating to such reports. the filing thereof,
sog 1he puanf ana shall aDp to such
any such association shall fall to furnish to
1 1e 9ph bI s mil Of the state report
,hall forfeit the sum Of twenty-five (25) dol
ar rso for sysry day such report shall be de-
maintain an action in his name Of Office to
recover such penalty, and the same shall be-
piled to the expenses Of tho department Of
s Sala exa am After receiving such annual
ouch corporation has complied With all the
IN Of fh the ae and is entitled to Do
days after receiving the aforesad annual '1 ~.
t saas pso Certificate the
ton is entitled to do inas I n this tas
which certificate shall be in force for the
ssrSS G5 sni in this s un les ]
shall also issue such certificate to a domestic
corporation which has complied with the lJv
the deposit Of securities, and in ali other re-
speots except a the filing of said report. which
In any year. Such certificate shall also be
issued to any foreign corporation authorized
WITH the IN ' IF ssaa ate o ~ Eb
aot ana shall be In force until the time here
each se ao5 such annual and for
Ra Fay the ets SUM hs Of tF ws
tZO collars before receiving the! same
Sec. 10. It shall be the duty q, such p,b1io
examiner, at least once in each year. and as
s bndn and to ican aa
sociatlon Incorporated under the laws of this
s Sate. Its q, 0q hs Officers directors and
upon upon him oyer banks under the laws Of this
81 PROVIDED acc ne shall not have the power
10 suspend tho operation Of any such associa-
tion, except in the manner provided in the
neX1 n. sueS ss section And such public
control over the business within this state, of
Hnaar tSs as % Of Ike kind
dHQ UtiLOnS doing business stofa AM
association examined by the public examiner
Saa f5 5oNae W. Fos H. e
hundred tIln thousand dollars of assets, or frac-
lar for each hundred thousa md iS SS
o0ars or fractional part thereof and for
a aao amounts in excess of six hundred thousa I'd
t eor dollars, the SUM Of Ave (55 dollars
sor in In h aadi sasto to
to be made an appraisal and valuation Of the
real estate which any such association may
appraisal shall be paid BY such association into
shall be placed to the credit Of the eontn P1a
fuDd of the office Of the public examiner for
The current fiscal year. ~ON
Seo 90 If 1t shall appear "a ..,d -,,,,,. .v
eminer, from any examination made by him.
81 from any report Of any examination made
report aforesaid that any corporsaon royl
erned by this act is violating its charter or
the law. or that 1t Is conducting business in
ahaI afs ~ u ma o. dishonest manner
OF Office addressed to such corporation. direct
ten arm y Win s the requirements Of It's char
poration shall refuse or neglect to make snch
fo o or account unit as may be lawfully reauire
IN thirty 900 days from date therefor or ~ -
a an become M apparent 3s that there is such
which the association was organized cannon
be carried out the public examiner may. If
such corporation be organized under the laws