capital must be paid in before commencing business.. 120 121 shall be not less than five nor more than thirteen notice of elections shall be published 121 121 Savings banks: Attorney-general: may proceed for neglect to make investments... notice to, of dissolution. Authorization: By-laws: (See certificates.) to be made by trustees... must be consistent with law.... to provide for election of officers. to prescribe powers and duties of officers... to provide for appointment and duties of committees... shall be transmitted to superintendent of banks. superintendent must be notified of amendments. may provide for loss of pass-books.. Certificates: of incorporation what to contain... to be filed with county clerk Savings banks — (Continued) : Certificates: to be filed with superintendent of banks.... to be filed by superintendent..... of authorization shall be issued within sixty days. to be filed by county clerk... duplicate to be filed in office of superintendent. superintendent may refuse to issue refusal to be filed by county clerk .... when filed persons named shall be a corporation............ Charters: to be conformed to this chapter... Definition: meaning of term savings bank... Deposits: annual report of unclaimed.... may be received after incorporation.. regulations to be prescribed by trustees regulations to be printed in pass-books. may be refused..... individual limited to $3,000..... society or corporation limited to $5,000. in trust, how paid... claimants may be interpleaded.. wife witness against husband.. may be invested in certain securities.. with banks and trust companies limited.... PAGE. 71 72 73 73 73 73 73 73 74 90 4 25 74 77 77 77 77 77 77 77 77 78 78 78 78 79 81 82 temporary, allowed with banks and trust companies... with insolvent banks and companies entitled to preference.... 89 unclaimed to be transferred to bank superintendent when Dissolution: proceedings against delinquent corporations........ when effected.. Dividends: to trustees for services prohibited... ... 91, 92 87 90 91 77 not to exceed five per cent per annum net profits beyond fifteen per cent surplus to be paid. may be regulated by classification... to be limited to period of deposit. to be declared by vote of trustees.. trustees liable for payment in excess of profits extra to be paid from surplus profits.... notice of change in rate to be posted.. Investments: value of, how estimated limited to certain securities.. in mortgages limited to sixty-five per cent of deposits. loans on certain securities. loans on personal securities prohibited temporary deposits may be made......... attorney-general may proceed for neglect in making previous, not affected by this chapter unlawful, by officers of. Loans: (See investment.) Location: manner of application......... can be authorized by superintendent. may be changed... Notice: of intention to organize to be published......... copy to be sent to other savings banks. of regulations to be posted in bank.. of refusal of certificate by superintendent to be filed by county of change in rate of interest to be posted in bank.. Savings banks-(Continued) : Notice: to superintendent of dissolution.. to attorney-general of dissolution.. Officers: post-office address must be sent to superintendent election of, provided for in by-laws....... shall give security for fidelity. to be made semi-annually to superintendent..... 18, 88 character of.... 18, 88 verification of.. penalty for failure to make. no other required 18 20 Restrictions: loans on personal property prohibited mortgaged property must be insured.. must not transact unauthorized business. must not issue certificate of deposit. payment must be made only on presentation of pass-book.... surplus limited to fifteen per cent of deposits... interest must not exceed five per cent per annum.. advertisements of unauthorized prohibited.. 86 83 83 83 83 84 84 89 Security: may be required from office for fidelity. may be accepted from surety companies.. premiums may be paid by bank..... Superintendent of banks. (See general index.) may accumulate up to fifteen per cent of deposits.. Trustees: thirteen or more required to incorporate .... |