The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-04-24

OCI. anu SIldu nave ana possess jill the
powers of corporations at common law,
and shall have power to sue and be sued
oy Its corporate name, and in such name
to acquire or receive, by purchase, gift,
real, personal, or mixed, and the same to
hold, sell, transfer, mortgage, convey,
loan, let, or otherwise use in accordance
with the laws and uSageS Of said order;
but said corporation has no power to d.
vert any gift grant, or bequest from the
specific purpose designated by the donor.
Section 2997. Whenever the charter of
any such lodge, chapter, or commandery,
or lodge of Ancient and Accepted Scot
tlsh Rites Masons of the Southern juris-
dlctIon Of the United States, shall be sur
rendered to or taken away by said grand
looge, grand chapter, or grand command
cry OF this state, or whenever by the
laws and usageS of said orders such sub
oroinate lodge, chapter, or commandery
shall become defunct the corporate pow
ers OF such lodge, chapter, or commandery
shaIl cease and determine, except that
such corporation, as such, shall have
power to sell, convey, and dispose of its
property, and collect debts due it, and
All such property and debts shall be de-
Lvered up to the grand lodge, grand chap
or, in the discretion of such grand lodges,
be disposed of in accordance with the
laws of said order
Sec. 2. This act shall take effect and
De IN force from and after its passage.
Approved Feb. u.s. 1903.
-. CHAPTER 1s-H. F. NO. 76.
AN ACT providing that villages, Dor
oUghs or cities containing a population
Of ten thousand 100000 inhabitants
or less, may designate repositories for
village, borough, or city moneys and
requiring the deposit of village, borough
or city moneys in such repositories, and
eXempting the village borough, or city
treasurer from liability for such de-
posts.
Be it enacted by the legislature Of TIE
State of Minnesota
section l. The common council, or any
body answering thereto of the several
villages, boroughs or cities containing a
population of ten thousand 10000 in
habitants or less, in this state, whether
organized and created under. any general
or special law, may, in their discretion,
select and designate as a depository or
repositories for village, borough or city
moneys, any, national, state or private
bank or banks. Such repositories shall
De required to execute and deliver good
and sufficient bond, with two (2) or more
suret1es, in at least double the amount
OF the sums deposited and to be de-
posted, such bond to be executed to, and
in favor of, the common council, or any
body answering thereto, of such viii
such village, borough or city. Such bond
10 be approved by the said common coun-
Gil, or any body answering thereto, and
such common council, or any body an
part of the village, borough or city mon
eys, as they may direct from time to time,
TO be deposited by the village, borough
or city treasurer in the depository or de-
poSitorieS designated as aforesaid
Such bank OF banks shall be designated
by such common council, or any body
answering thereto, in such manner as
they may deem best.
Such common council or any body
answering thereto, shall also have power
to make such terms and conditions as to
deposits as to them shall deem for the
best interests of the village, borough or
city;
Provided, that the length of time of
such deposits, shall not exceed the term
or ONCE OF such common council, or any
body answering thereto, and that new
repositories may be selected from time to
time as the common council, or any body
answering thereto, shall decide.
And provided further, that all such des-
ignations of repositories shall be in writ
ing, setting forth all the terms and con-
dltlonS of the deposits to be made in
pursuance thereof, and signed by the
president and recorder of such common
council, officers or members performing
similar duties of any body answering
thereto. for any such village, borough or
city and the same shall be filed in the
Office Of the clerk or recorder of any such
village, borough or city.
That thereupon such bank shall become
legal depository for village, borough
or city moneys, and thereafter the treas
urer Of any such village, borough or city
shall deposit such village, borough or city
moneys therein, as he shall be required
from time to time to deposit by such
common council, or any body answering
thereto.
Sec. 2. The village borough or city
treasurer and the suredes on his bond
shall be exempt from liability to the
village, borough or city, by reason of
the loss of any funds Of such village,
borough or city deposited in any such
bank, from the failure, bankruptcy or
other acts of such bank, to the extent and
amount of such funds in such bank at
the time of such failure or bankruptcy.
Sec. 3. All interest on moneys deposited
as hereinbefore provided, shall be and be-
come the property Of such village, Dor
ough or city.
Sec. 4. This act shall take effect and
be in force from and after the first day
of May, 1903.
Approved February 20, 1903.