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APPENDIX.

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to keep a record of; to require new
bond, etc.

15. Choice and appointment of officers.
Vacancies. Clerk to notify persons
elected, and publish list. Penalty for
neglect or false publication.

16. Special meetings, how called and
notified.

rum.

17. Members of the corporation.
18. Regular meetings of trustees. Quo-
Rec-
Statement of condition.
ord of meeting, and names of trustees
present. Office of trustee, how vaca-
ted and proceedings thereon. Names
of investing committee to be pub-
lished. Shall transact business where
banking house is located.

DEPOSITS, LOANS AND INVESTMENTS.
19. Limit to amount of deposits, and of
interest.

20. Investments. Exemption from taxes.
Pledge of securities.

21. No officer charged with the invest-
ment of funds to borrow of the cor-
poration, or to become surety.
22. Savings banks, etc., not to receive
brokerage, etc., on account of a loan.
Penalties.

23. Applications for loans to be made in

DIVIDENDS AND PAYMENTS.

SECTION

24. Guaranty fund.

25. Net profits to be divided among deposi-
tors, and in what manner.

26. Dividend not to be paid unless net
profits are one and one-half per cent.
except upon approval by commis-
sioners.

27. Extra dividends.

28. No dividend to be declared or paid,
until, etc.

29. Deposits, how withdrawn. Payments
to minors. Payments on orders after
death of drawer.

30. Depositor may set off the amount of
his deposit in proceedings by the
corporation.

De-

31. In actions for deposits, claimants
may be made defendants, etc.
posits may remain, or be paid into
court, etc.

32. When a deposit is made in trust,
name, etc., of persons for whom
made, to be disclosed; to whom pay-
able in case of death.

33.

Depositor to be notified when amount
entitled to dividend is exceeded.

34. List of amounts due depositors not
entitled to dividend, to be published
once in five years.

SPECIAL TRUST FUNDS.

35. Corporations may receive funds in
trust for parks, shade trees, ceme-
teries, and drinking fountains.
emption from attachment.

Ex-

36. Probate courts may authorize exec-
utors, etc., holding funds in trust for
such purposes, to deposit same.
37. Shade-tree and cemetery fund. State-
ment of the amount thereof to be
made every third year, etc.

38. If the corporation ceases to do busi-
these funds where to be deposi-
ness,
ted.

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P. S., CHAPTER 116.

[WITH AMENDMENTS AND ADDITIONAL LEGISLATION NOTED IN THE MARGIN.]

COMMISSIONERS OF SAVINGS BANKS.

and tenure of

1866, 192, §§ 1, 2.

1876, 221, §§ 1-3.

SECTION 1. The board of commissioners of savings Appointment banks shall consist of two commissioners appointed by office of board. the governor, with the advice and consent of the council, and subject to removal in like manner, each of whom shall be sworn, and shall hold office for the term of three years unless sooner removed. Upon the occurrence of a vacancy before the expiration of a term, an appointment shall be made for the remainder of the term.

and allowances.

SECT. 2. The annual salary of each of said commis- Compensation sioners shall be three thousand dollars; and the board 1856, chap. 252. shall be allowed two thousand four hundred dollars a year for clerical assistance, and also the actual expenses incurred in travelling in the discharge of its official duties.

visit and exam

annually.

1876, 231, § 3.

1888, chap. 51.

SECT. 3. The commissioners shall visit once in every The board to year, and as much oftener as they deem expedient, every ine every bank savings bank and institution for savings incorporated by 1866, 192, § 2. authority of this Commonwealth, and when such institutions are connected with a national bank they shall make such arrangements with the national bank examiner, if possible, that their visits shall be simultaneous. At such visits they shall have free access to the vaults, books and papers, and shall thoroughly inspect and examine all the affairs of each of said corporations, and make such inquiries as may be necessary to ascertain its condition and

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