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to the effect that a notice shall be published in two papers to be designated by the judge holding such term of court, and to be entitled "In the matter of the application of

(naming the petitioner) to require the bank of

...

(naming the bank) to pay over money deposited in said bank by (naming the depositor)" or in case a bond or undertaking has been given to procure the payment of such a certificate and it is sought to obtain an order from the court declaring such certificate null and void and the release, discharge and satisfaction of such bond and undertaking, then such petition is to be entitled "In the matter of the application of (naming the petitioner) to obtain an order declaring a certificate of deposit issued by the .. (naming the bank) null and void and the release, discharge and satisfaction of the bond (or the undertaking, as the case may be) given to said bank by

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(naming the party giving such bond) to secure

the payment of such certificate."

Such notice shall be published once in each week in each of such papers for thirteen consecutive weeks.

(L. 1899, ch. 451, §§ 5, 6; L. 1901, ch. 171, § 5; L. 1901, ch. 503, § 1.)

§ 117. Contents of notice. Such notice shall also contain the name of the bank issuing such certificate, the date of the certificate, the number, the amount for which it was issued; and in case it is sought to have any bond or undertaking given to secure the payment of such certificate, released, discharged and satisfied, said notice shall give the date thereof, the names of the parties by whom and to whom given and the obligors thereon; and said notice shall also provide that any person having such certificate in his or her possession, or under his or her control, shall produce the same within a time named in said notice, and present the same to the bank issuing the same, and upon default thereof shall forfeit all right or claim thereto, or to the money due thereon. Such notice shall also provide that at the expiration of the time of publication, an application will be made to the said court for an order declaring said certificate null and void; and directing the payment of the money so deposited in and held by said bank to the petitioner if the same shall not have been previously paid, and if a bond or undertaking shall have been given to secure

from such bank the payment of such certificate and its release, discharge and satisfaction is sought, in addition to having said certificate declared null and void, then said notice shall also state that said application will also be made at said time to said court to have such order declare such bond or undertaking released, discharged and satisfied and the obligors relieved therefrom.

(L. 1899, ch. 451, § 7; L. 1901, ch. 171, § 6.)

§ 118. Application for final order. At the expiration of the time of the publication of such notice, the petitioner may apply to said courts, after giving said bank and each party to said bond or undertaking, his executors, administrators or assigns, other than the petitioner, at least eight days' personal notice of such second application for a final order declaring such certificate null and void, and directing said bank to pay over the money so deposited to the petitioner if the same shall not have been previously paid, and if such bond or undertaking has been given to such bank to procure the payment of such certificate, and its release, discharge and satisfaction is sought, such notice of such second application shall give notice of an application for a final order declaring such certificate null and void and also for the release, discharge and satisfaction of such bond or undertaking and the discharge of the sureties therefrom. And if it appears on said application for said final order that the provisions of this article have been complied with the court shall grant the

same.

(L. 1899, ch. 451, § 8; L. 1901, ch. 171, § 7.)

§ 119. Order; filing, and service; refusal to pay. Such final order shall contain a recital of the first order and shall be filed and entered in the clerk's office of the county in which said bank is situated, and upon the production of a certified copy of said second order to said. bank, it shall pay to such petitioner the amount due on said certificate of deposit if the same shall not have been previously paid.

After the service upon said bank of a certified copy of the said second order if said bank shall refuse or neglect to pay over the money due on said certificate, it may be recovered of said bank in the same manner as if such certificate had not been lost or destroyed. (L. 1899, ch. 451, §§ 9, 10; L. 1901, ch. 171, § 8.)

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§ 120. Bond discharged; bank released. No claim thereafter made by any person having such certificate in his or her possession, shall be available against such bank, and the bank shall forever thereafter be fully and entirely relieved of any liability by reason of its having issued such certificate or for the money due thereon. After the granting of any such order declaring any such certificate null and void, and any bond or undertaking given to any bank to secure the payment of such a certificate, released, discharged and satisfied, no claim made on any such bond or undertaking shall be available or be enforced against any party or corporation giving such bond or any obligor thereon but each such person and corporation shall be fully and entirely relieved from all liability on such bond or undertaking.

(L. 1899, ch. 451, § 11; L. 1901, ch. 171, § 9.)

SECTION 130. Incorporation.

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ARTICLE 4.

SAVINGS BANKS.

131. Notice of intention to organize.

132. Filing of certificate by superintendent.

133. Examination by superintendent.

134. Certificate of authorization.

135. When persons named in certificate become a corporation; powers. 136. Must begin business within one year.

137. Trustees and their powers.

138. By-laws.

139. Meeting of trustees; quorum.

140. Vacancies.

141. Security may be required from employees and salaries fixed.

142. Dividends, compensation, and loans to trustees prohibited.

143. Repayment of deposits; regulations; limitation.

144. Deposits of minors, and trust deposits, and deposits in the names

of more than one person.

145. Wife witness against husband; claimants may be interpleaded. 146. In what securities deposits may be invested.

147. Limitation as to real property.

148. Available fund for current expenses; how loaned.

149. Temporary deposits.

150. Personal security prohibited; loans on bond and mortgage.

151. Mortgaged property to be insured.

152. Restrictions on methods of doing business.

153. Rate of interest; extra dividends.

154. Per centum of surplus, how determined.

155. Compensation of officers.

156. No other report or inspection required.

157. Examination of vouchers and assets by trustees.

158. Expenses to be paid.

159. Certain debts from insolvent banks and trust companies preferred.

160. Advertisements of unauthorized savings banks prohibited.

161. Charters to be conformed to this chapter.

162. Savings bank voluntarily closed.

163. When dissolution effected.

164. Deposit of unclaimed moneys.

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130. Incorporation. Thirteen or more persons, two-thirds of whom shall be residents of the county where the proposed bank shall be located, may become a savings bank by executing under their hands and seals and acknowledging a certificate in duplicate, one

duplicate to be filed in the office of the clerk of such county, and the other in the office of the superintendent of banks within sixty days after its acknowledgment, which shall set forth:

1. The name by which the corporation shall be known.

2. The place where its business is to be transacted, designating the particular city, village or town, and, if in a city, the ward therein. 3. The name, residence, and, if in a city, the street and number, occupation and post-office address, of each member of the corporation. 4. A declaration that each member of the corporation will accept the responsibilities and faithfully discharge the duties of a trustee in such corporation when authorized according to the provisions of law. (Former section 100; R. S., 1563, 1564; L. 1882, ch. 409, §§ 236-238.) Blank forms for the organization of savings institutions may be obtained from the superintendent of the banking department.

See General Corporation Law, §§ 4–6.

See New York Constitution, art. VIII, § 4.
See Tax Law, § 4, subd. 14, §§ 183, 189.

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§ 131. Notice of intention to organize. A notice of intention to organize such savings bank shall be published at least once a week for four weeks previous to filing such certificate in at least one newspaper of the largest circulation published in the city, village or town where such savings bank is proposed to be located, or, if there is no newspaper published therein, then in some newspaper published in the county; if none in the county, in an adjoining county; which notice shall specify the names of the proposed corporators, the name of the proposed savings bank, and the location of the same as set forth in the certificate; and if there is any savings bank organized and doing business in such county, a copy of such notice shall also be sent to every such savings bank so organized and doing business, at least fifteen days before the filing of such certificate.

(Former section 101; R. S., 1654; L. 1882, ch. 409, § 239.)

Certain advertisements by a National bank using the word "savings" therein, held to be prohibited. Opinions Atty. Gen'l, February 6, 1908, and November 19, 1908.

132. Filing of certificate by superintendent.

- If such certificate shall not be in form and substance as required by this article and not duly and properly acknowledged, or not accompanied by evidence satisfactory to the superintendent of the publication and service in

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