The Olneyville times. (Olneyville [Providence, R.I.]) 1887-1917, 1908-09-04
STATE OF RHODE ISLAND AND
pRnXInENrE PLANTATIONS

for the purpose Of forming a corporation
under the name OF (the name OF the cor
poration). for the purpose Cthe purpose
declared in the agreement OF association).
with a capital stock Of Che amount fixed
In the agreement OF association). and
have complied with the provisions OF the
statutes OF this state in such case made
and provided. as appears from the GER
tificate OF organization OF said corpora
ton. duly approved by the board Of bank
Incorporation and recorded in this ONCE:
Now Therefore. | (the name OF the sec
retary), secretary OF state OF the State
of Rhode Island. do hereby certify that
said the names OF the subscribers TO the
agreement OF association. their associates
and successors, are legally organized and
established as, and are hereby made, an
existing corporation for the purpose afore-
said. under the name OF (name OF the
corporation). with the powers. rights. and
privileges and subject 10 the liabilities.
duties. and restrictions, which by law ap
pertain thereto.
Witness my official signature hereunto
subscribed and the seal of the State OF
Rhode Island hereunto affixed. this
day of in the year
Sec. 10. Such corporation shall not issue
any shares of stock until the par value
Of such shares shall have been actually
paid in in cash. When the whole capital
stock has been issued. a complete list OF
the stockholders. with the names. resi-
dence. and post-office address Of each and
the number Of shares held by each shall
be filed with the board of bank incorpora-
ton, which list shall be verified under
oath by two OF the principal officers OF
the corporation. Upon receipt of such
statement said board shall cause an ex-
animation TO be made. and IT, after such
examination. II appears that the whole
capital stock has been paid in in cash
and that all requirements of law have
ha lad rd
issue a certificate authorizing such corpo-
ration to begin the transaction OF busi-
ness. and thereupon said corporators,
their associates, successors, and assigns,
shall be authorized TO transact business
as a corporation with all the powers,
rights and privileges, and subject TO the
liabilities, duties and restrictions, which
by law appertain thereto and the records
of the said first meeting of the subscrib-
ers to the articles of agreement shall be-
come and be taken rs the records of the
first meeting of said corporation. 1t shall
be unlawful for any such corporation TO
begin the transaction of business until
such a certificate has been granted.
Sec. IL. A bank or trust company may,
subject to the approval of the board OF
bank incorporation and to any notice
thereof that said board may require. in
crease or decrease its capital stock in
the manner provided for the increase or
descrease of capital stock of business cor
porations under the provisions of sections
seven and eight of Chapter one hundred
seventy-six of the General Laws and OF
acts in addition thereto or in amend
ment thereof: Provided. however that no
share or shares of such increase of stock
shall be issued by any bank or trust
company until the par value thereof shall
have been actually paid in in cash, and
until the board of bank incorporation
shall so certify; and provided, also, that
nothing in this section contained shall be
construed TO affect in any way any right
with respect to the determination of the
amount and issue of capital stock hereto
fore conferred upon any existing bank or
trust company by its act of Incorporation
or any amendment or addition thereto
except that no such capital stock shall
be issued until the par value thereof
shall have been actually paid in in cash,
and until the board of bank incorpora-
ton shall so certify.
Sec H. Any bank or trust company may
establish a branch or branches within
this state at any other place than its
principal place of business upon obtain
ing the consent of the board of bank in
corporation thereto. Said board of bank
Incorporation shall, before giving such
consent require that a notice of such in
tention to establish branch or branches
of said bank or trust company shall be
given for the same period of time and in
the same Rnanner, and hearing had
thereon as is provided in the case of in
corporation of banks trust companies
in section seven of this act; and II said
board of bank Incorporation shall decide
that public convenience and advantage
will be promoted by the establishment Of
such branch or branches, it shall; and IL
is hereby authorized to, issue a certificate
to that effect, a copy of which shall be
filed with the bank commissioner, and
thereupon said branch or branches may
begin the transaction OF business. IL
said board refuses TO Issue such certih-
cate. no further proceedings shall be had'
but the application may be renewed after
one year from the date Of such refusal,
in which case notice of public hearing
thereon shall be published as hereinbefore
provided.
INCORPORATION OF SAVINGS
BANKS.
Sec l3 Fifteen or more persons. all of
whom shall be citizens and residents OF
this state, who associate themselves by
an agreement in writing for the purpose
of forming a savings bank, may, upon
compliance with the provisions of this act,
become a corporation, with all the pow
ers, rights and privileges, and subject 10
all the duties, restrictions, and liabilities,
set forth i'm this act and any amendments
or additions thereto and in all general
laws now or hereafter in force relating TO
such corporations.
Sec. IL. Salu bSfttIlltnt SIldil set ioi eH
that the subscribers thereto associate
themselves with the intention of forming
a corporation to transact business within
this state. and shall specify:
First. The name by which the corpora
ton shall be known.
Second. The purpose for which 1t IL
formed
Third The city or town in which Its
business is to be transacted.
Each associate shall subscribe to the ar
ticles his name. occupation, residence. and
post office address.
Sec. Is. The subscribers to such agree
ment shall give notice in writing TO the
board OF bank Incorporation OF their inten.
ton to form such savings bank. and shall
apply TO said board for a certificate that
public convenience and advantage will be
promoted by the establishment OF such
savings bank. which certificate said board
Is hereby authorized to grant. Upon re-
ceipt OF such application said board shall
furnish the subscribers form OF notice
specifying the names OF the proposed in.
corporators and the name and location OF
the proposed savings bank. and assigning
a date and place for a public hearing on