Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1913-08-29

the time Of maturity be hxed or not
/ Section 2GI4-2S The commissioner Of
banking before granting license. shall examine or
cause to be examined foreign building and loan
association applying for permission transact bust
ness IA this state and every such association sla
pay the actual cast of making such ex-
anlinaons aud shall make such annual report as is
REQUIRED OF local associations. comply with all laws
applicable TO such associations and be subject 10 tne
same penalties
Section 2o14-24 No person shall act as the agent
or representative OF any foreign building
and loan association until after he shall the re-
quest Of such association. have procured from the
commissioner OF banking license reeitang
the fact that such association is authorized and u
censed to transact business in this state and has
complied with all lawful requirements The fee for
such license shall be ten dollars. and the license
shall continue in force. unless sooner revoked by the
commissioner during and until the close q
the fiscal year of the association
Section 29l4 Is. Any foreign building and loan
association having made the deposit Of securities
required by this chapter and desiring to withdraw
the same or any of them without depositing securities
OF like character and amount. desiring to dis
continue its business Withdraw from the state may
Dc so by complying with the following provisions:
File with the commissioner Of banking a
statement rccling the reasons for desiring to with
draw such securities and the amount TO be with
drawn; and the commissioner shall there
| upon examine such association and determine the
amount of its liabilities account of all agreements
or contracts outstanding with residents Of this state
and IT convinced that the interests of such residents
viii not be injured jeoparriized by such with
drawal shall cause to be published in three news
papers in this safe for three weeks at the expense
Of the association notice Of such request for the
Withdrawal Of such securities and If written OBJ
jectien is filed by resident Of this state holding
any share, certificate bond other evidence Of in
dehtedness Of agans- such association within one
week after the last date Of the publication Of such
request the commissioner Of banking shall
issue certificate certifying 10 the state treasurer the
amount Of liabilities, if any. existing in this state
and the amount OF securities such association shall
be permitted to withdraw. and upon filing receipt
for such amount the association shall be permitted
TO withdraw the same; provided that there shall re-
main at all lines sufficient deposit to protect resi-
dents Of this state holding shares certificates bonds
or other evidences Of Indebtedness Of against such
association and that such deposit shall decrease only
as the liabilities OF such association decrease ac
count OF residents.
Section 20l4-26 1t shall be the duty Of the
commissioner of banking. upon evidence fur
nished to him that any foreign building and loan
association authorized to transact business
in this state has failed refused pay any final
Judgment rendered against 1t in any court Of this
state. to take such steps may be necessary to
secure the appointment Of receiver therefor All
expenses incurred by the commissioner in
carrying cut the provisions Of this section when
tilted TO the secretary of state actually necessary
shall be raid out of the general fund.
Section 2. This act shall take effect and be in
force from and after its passage and publication.
Approved Augugt /, 1918.