Montgomery County sentinel., 1962-10-04

visions Of snch order. The conserVdioY
shall haze Pofoev 10 dccsft free share
accounts and additions TO ttee share &C.
counts. bat any sach amounts seceiged
BY the eoHseygdfoT may be segregated; "
so ordered, Sach amounts shall not be
subject to Offset aud shall not be used
TO iiQniddie any Indebtedness Of sueh
association existing at the time the con-
Seygd,ov srds APPOINTED for II oy aug sub
ssqusEt Indebtedness incurred for IRE
PURPOSE of iiqiHddting the indebtedness
of any sHch association exiStiHg at the
tine such conssyvdtoy spds GpboiEtsd. An
expenses Of the association during Snch
eo'iseryatorShip shall Be Paid BY the
association.
1911. RECEfVERSHIP.
(d) APPOINTMENT Of reeeipsr II ir-
YegilcritisS complained Of IN a final order
are not corrected, or if any irye0alari'ies
complained Of ii Petition for he df-
pohtpisnt Of q coHSef9dtoy are not cor
yccfcd, or in the case of dHy emergency,
the Board. II iH IT'S Judgment the public
interest requires, acting through the .4t-
tornsy General, may apply TO an equity
court for the city or county Episre the
association has IT'S principal Maryland
Office for the dbboiH.msHt of feceigef,
uho may be the Director. Such court Is
authorized to spboint a Vsceiver If IL
fnds that SBeh association: IN is in an
impaired or iHSOlGsHt condition. or (2)
is in substantial pioidtion of any ydiid
and applicable ldsU or yFgaldtion' or 30
IS coHesdliHg any Of its dsssts, books or
yecordS; or ~ IS conducting an arSdfs
and HRsoHnd oPsydtioH.
(b) Procedure. The procedure ~ sack
ysefig1shiP action, shall BE- iH all other
respects IN accordance fgith the practice
N such court, including all rights Of
APPEAL aud rssissg broyided by lac.
lolM, INCORPORATION AND OR
G.4NLZ.4TION.
(d) Selection Of chairman Of iRcorbo-
ydtors; subscriptions required general
ykSsyge fund. IN -fHy fHpber of
NATURAL persons, not less than fve
(5l, tcho shall be at least tscsntyons
(2f) years Of age, citissns of the United
States and bona fde residents Of this
State, may hereafter associate as incoY.
pordtoyS 10 establish an association andev
thts Article upon The terms and coiidi-
tions dHd subject TO the liabilities Pre-.
Seribed herein. The ineorpoYdtoys shall
dpb0iHt one Of their number as ckdiyHon
Of the incoyfoyatory. The incorboyatots
shdU pay IN cash 10 sHeh chairman az
subscriptions TO free share accounts of
the proposed association, including thai
port of the original subscription paid BY
such cdirnfaH,. az aggregate dmoaat, de-
.sn""ee gy Hs 'oea,ioH oJ re PfihciPaI
gJWss Ms NoPoSse eSSoe'aiion, as 1ol,
Jnu.., ~ D,,ssD,a'm ky ~ SAa ol 80" h4onsana
.;tS 'f.v!OVV'pvI W emifs, I9spns Q,
G5,0O0), tHhdbitdHts: mi,timpm sutn
Of tsCsnty-fvs thousand dollars (s25.s
000.60) ~ cities. toigns or villages han.
iH0 more than fftssn fhoMaad (I5,000)
bnt less than one hundred fhonsdnd
Ioc,oOOl, fnhdbtdmts; minimum says
H'V DvAss"o "os.ggS tS'g,VyV'VVi ~
LsS, 'oINs oy yMnagsS havsH0 one
hshsss hsh:.,.. 'HgSsoha TI tioo'oool Sr more ~;
~ s;s., 80, s Msnlys, V Mnaptan!s OF
,ri,,1 K, III. P..rJ "ags snaH 90 aNs,
M'"so oy shs bodrd ~ aeeoydaHes s0itb
n"a,sns ms ,a,sn Isss,a. FEDERAL census. ss Ihs "Iinina
aIgg,sga's amoHns or Jrse Shd's aecoaHts
n"smmosIo,s H,oVIaso sHdn % n'SInfoinfd
ss,sI =" .smss cy any 0Ssoe'a''o~ 'NcorP0-
III II. .
az - "s2'Ro,eiofs' ~ asaitton 70
IIy"'sw W Ws'o1 shoseytpfoHS 70
~ sssoNN's Nssein ssqHired' sHoH
s.. 'Sy p"Y ~. y, esnss 20 os paie 20 we crazy
~,'.I ~ "snVo,as'S " edgH sh'H
ss,j~sS 800, toNeI y Mf ts-
,Ls ~,sns;..:e.. ~ IsP',gns, .onsen 1S'onn,;
I.,n.,. 'I'.0" ~ ~ - n,eo,povdssa, sHdH
vsss,U. f.'.S - Jaso ~. 20 " oenf'a
h."..S t"no Ws ossoesas'oN Ir a
xoo r ~ W ysn,s or "N'I SAD
% %s 'ss"gs J.sei nss fhe amount
g.~s" . 20 pa'g wder fAis SHo-
10y ssasnsy M Asast slf per esnf
s,~.L 1vL ~ ~ w'no,aOal Va1hs or Ms
80. LII uss 5ne's aeeoh'HS' t0hich-
,ssu ~" n, ~ ceer. Jns tneorpoySfeys
y.r,.. s.,.s ss ~..: aHo "snyss 70 ths Di-
E,,ss,, - ss'~ oss.g''nsenL peace 6ha d.
",rn,, y ~ s.Jo"I15 " sHe1 essoeidfion ~
49,, r,. ~ ~ Dneeso. ~ ~ dtsevSicn
ffttV EH4htFe 70 NbQT0HIGG 9lCk G4gOCiN.
~" s0s."s. epsxe'M0 gepefs and sodfnsf
s...- W "na toh,en efessa ofhsr
~..'...J 1 Scsse,io" shan hof %
s.;,s.s aRPv'ng 70 sSseesdtioHs 90
- '"S sDs1sVs dGfs or fhts
-.
- Ys"ss Isno Iov Incorporation
css,," ss"'sss.oN. .'' ~ meoyPorafoFs shGn
~. - y" s@psrss Isag sn aMotnf
,,'".' ~ 80. . ~" oxs,neT ~ Me mint
..n,;,sI Z. ~ l,ss "a,s sHoseStptiorf
TT" Pela " bnosV s~e'sfetlon
tD ~ hvsof, whieh shall BE- ~ add.
IL ~. A' o' 'om DhteH sfpsHss fAHd
- ~ y ~9an.sD'g 'Hs essee'df'on
s'.,.J yPTasNs s1PsHsss @oy oe pas
~. s.e" .nHs ~ 1s eafHin0s are sum
aJJ,,;as ~ ~ o,gfHg sfPfHss5 ~
Je, '.en alViasnGs os may %
sis.s ssla'a... 1s Ps.g or eteaneg 70 uS TfFs
III. iscorsns.,nn nos',y J,0w ~ sarHFngs.
~. S' - M Ro,"g.s sho's tasPo'n 10 me
tors ~ III ~ ~ InaDn.Sn ~ ~ we3rpofe-
fund. TIE a,ros,,,ts rov,yib.,sS S'tp'.L ~ ~
sxbsnss fund by tEs irco,so,c,o,, ,s"n
not constitute LnbiI,tv of ~. .,,sr..
ton srcebt az b,,eiuaffsy h,o,';5sS sy''''"
lei Chairman Of ineoyboyoters "a h...
cure surety bond, ri, lhn,,n,o,, ~ ~.
iseorboratoy, shall byoeayr t,o,,, = ~ ,,,.,,. ~
company quaLfed 10 do b,,,,ur,s b ~ ~.
State OF MARYLAND a stIy,tv boad a, to,.,
abbyovsd by he Diysctoy In a.. @,se~r,