The Chipley banner. (Chipley, Washington County, Fla.) 1893-1943, 1903-08-20
CHAPTER 51Ss-No. s1

An Act TO Amend Sections Two Thousand
Two Hundred and Five (2205) Two Thou.
sand Two Hundred and Six (22O6), and Two
thousand Two Hundred and Seven (22OO
OF Sub-Chapter Two C2), of the Revised
Statutes Of the State of Florida. FntitIed
Special Provisions for Building and Loan
Associations -1'@''
Be z Enacted BY the Legislative Of the Stat, ot
Florida: NV S'"'' "
That Sections 22O6. ZOOS and 22O7 ot s,id CT
chapter be amended to read as follows:
zzOo. Amount, Series, Terms of Payment
and Withdfawal-The capital stock of a build.
ing and Loan Association shall at no time con.
SYST IN the aggregate OF more than one r,;I;o0
dollars, to be divided into shares Of such A.
nominations not exceeding FIVE hundred dol.
lars each, payable in lawful money ~ the
United States, and in such number AZ he
charter may specify. The capital stock NAV
be issued in shares or fractions of shares. for
cash when desired, or be issued In ser;ss ~ soi
aole IN instalments, but no such series shsiI
az any issue exceed in the aggregate 6,,s
hundred thousand dollars, the instalIments IN
w , stock are to be paid at such time and
place as the bylaws shall appoint NJ -
nodical payment Of. such instaliments sbsiI n.
MADE exceeding two dollars on each share snd
sueh stock may be paid off and retired AZ AZ
bylaws direct Every share Of stock shall hs
subject to a lien for the payment ~ $3.50
installments and other charges Incurred th"."
on under the provisions Of the charter and nv
laws. and the bylaw may prescribe the g.,
ana manner OF enforcing such liens; new sbsTes
ssoek may pc issued In lieu Of shares with
HIaw or forfeited. The stock may be issued
IN one; or successive series in such amount
as the board Of directors and stoekboIders IN.
determine, and any stockholders wisbing ~
WI rom the association shall have power
70 10 so by giving sixty days notice ~ III
intention 70 withdraw, when be NAV ba -. 10
,lued 70 receive the amount paid IN nv b;s,
less all fines and other charge. brt at.s.
the seres s,,eh o. one year from the issuing Of
ADDITION thereto, TO such interest thereon IN ~,
70 sueh payment OF credit Of the profits rom
time 10 time, as the bylaws NAV provide A.
no time shall more than one-haif Of me fund.-
IN me treasury OF the corporation be appli.
cable 70 the demands Of withdrawal stoeL
holders without the consent Of the hoard -
directors, and no stakeholder SHAH he snt;,ts5
70 Withdraw whose stock Is held In pledge To-
security. Upon the death Of a stockhoider Ne
,ska Representatives shall be entitled 10 ne.
eeive me iuil amount paid in By him, and sucb
rate OF interest or profit thereon as the bv.isS,s
OF the association shall prescribe g., ~
dueting all charges that may be due m ,h.
stock. No fine shall be charged 10 4 decssssS
nS , account from and after his decease
unless the legal representatives Of such decd.
snt assume the further payment on ths 49,
zoo Stated.-buiidlng and Loan 49,.
ions Incorporated under this Chapter shall
ve snf Powsrs and from che date Of Its In.
m shan be governed, managed and contrnlisN
Is follows. They shall have the nowrr 80
fanehise OF loanng money or advancing to
he stockholders thereof the MONEYS aeerm,'
aisd IRON time 10 time and the power ana
1Rht 20 secure the repayment ~ such none,
md the performances Of the other condition,
mon which the loans are made by mote ~
'ond' secured by mortgage or other securitv
IL wen as the power and right 10 purcbase y,
rect houses md to convey. lease or rnorts.s's
ne same AZ pleasure 10 their stockhoIders ~
ihsrs Tor the benefit Of their stockholders m
ueh MANNER also In case Of non-payment ~
nstallments, premiums or interest A., -
loekholder TOR three months, payment Of pdn,