Page images
PDF
EPUB

1858.

Officers of sav

BUILDING ASSOCIATIONS.

SECT. 355. No president, secretary, or treasurer, of any savings ings and building and building association in this state, shall be allowed to vote in the associations may election of directors of such savings and building association, upon stock than their other stock than his own; nor shall any president, secretary or treas

not vote, on other

own, when.

Penalty.

1858.

1860. No new associa

urer, request or solicit any stockholder to make, to any person whatever, a power of attorney to vote upon the stock of such savings and building association; and no person shall be allowed to vote by virtue of a power so obtained; and any person, who shall violate the provisions of this section, shall be disqualified from holding any office in said savings and building association, for the term of one year thereafter.

SECT. 356. No new association shall hereafter be formed or estab

tion to be formed. lished, under and by virtue of the act passed May session, 1850, entitled, "an act authorizing the establishment of savings and building associations ;" and said act, and the several acts in addition thereto, are repealed; but said repeal shall not impair the rights of any association now in being, which was established under and by virtue of said acts, but said rights are confirmed and established, so far as may be necessary to enable said associations to close their affairs, as hereinafter provided; nor shall any association receive from any person any deposit of money whatever; and any savings and building association, whose officers shall violate this provision, shall forfeit a sum not less than one hundred dollars, for each violation.

Bank commis

praise stock, &c.,

when.

SECT. 357. The directors of any such association, on the request sioners to ap of ten stockholders therein, shall order the secretary to notify the bank commissioners to examine the affairs of the association; and such commissioners shall forthwith make an examination and appraisement of the stock of each stockholder, at its just value, as nearly as the same can be ascertained, due regard being had to all the circumstances of the case; and when such association has received a bonus upon its loans for the whole period, at the time of making the loan, such deduction shall be made from the profits credited to the earlier series, and such additions made to the later series as shall equalize, as nearly as practicable, the profits of the institution among the different series of stockholders, due regard being had to all the circumstances of the case; and said commissioners shall make a record of their appraisal and adjustment, and Parties may ap-lodge the same with the treasurer of the association; and any party superior court. aggrieved may, within ten days from the lodging of said record with the treasurer, take an appeal therefrom, to any judge of the superior court, who may make such order in relation thereto as justice shall require, and his decree shall be final.

peal to judge of

Fees of commissionera.

Stockholders

SECT. 358. The fees of the commissioners shall be three dollars per day, and actual expenses, while engaged in performing said duties, and shall be paid by the association whose affairs they shall thus examine and adjust; and the fees of the judge of the superior court shall be the same as on a motion to dissolve a temporary injunction in vacation, and shall be paid by the party against whom the judge shall decide the appeal.

SECT. 359. When such adjustment shall have been made, any may apply stock stockholder who shall have made a permanent loan, may have the whole of such ascertained value of his stock applied to such loan, and on the balance, if any, remaining due on his loan, no bonus of a

to payment of loans.

all

due.

greater rate than one-quarter of one per cent. a month shall be payable; and he shall thenceforth cease to be a stockholder in such association; but if the stock of any such borrower shall be more than sufficient to pay his note or loan, then enough to cancel said note or loan shall be applied to that purpose, and the remainder shall be treated as the stock of a non-borrowing stockholder; and any Borrowers may borrower shall, at all times, have the privilege of paying up the amounts pay amount due on any loan heretofore made; and in case no such application shall be made for an appraisal and adjustment, all payments made on stock by him, with interest at the rate of six per cent. per annnm, payable semi-annually, in advance, shall be credited on said loan; and if the value of said stock shall be Payments on found to be greater than the payments made on the same, with the ited on loans. interest so credited, then the whole value of said stock shall be cred

ited on said loan.

stock to be cred

not take bonus,

fusing to comply

SECT. 360. No such association shall take, on any loan hereafter Associations may made, any bonus, or a greater rate of interest than six per cent. per annum; and no association shall hereafter issue any new stock. SECT. 361. If any such association shall refuse to comply with Associations rethe foregoing provisions, it shall not be lawful for it to make any may not make further loans, upon penalty of one hundred dollars for each and every offense, payable to the treasurer of this state, and collectible in any proper form of action.

loans.

tion may close up

SECT. 362. Any association, desiring to close up its business, after How an associahaving ascertained the value of its stock in the manner herein before its business. provided, shall first pay, or secure to be paid, all debts due depositors, to the satisfaction and acceptance of the depositors; any stockholders who are borrowers, may then have the value of their stock applied in the manner herein before provided upon their loans; and the balance remaining due on said loans, unless paid in cash, shall remain a loan, with interest, payable at the rate of six per cent. per annum, semi-annually, in advance; all payments upon stock in said institution, shall thenceforth cease, and all stock shall be canceled, and the value of the stock of each stockholder shall be and remain a claim against the association; and all assets of said association, after first securing the depositors as aforesaid, shall be held by the association in trust, for the benefit of said stockholders, and the avails thereof shall be collected and be distributed rateably among them, from time to time, as the association shall order; but so long as any depositors remain unpaid, the funds shall be applied to that purpose. Any association may accept the provisions of this section, by a major vote of its stockholders, voting by shares of stock, at any meeting duly warned and held for that purpose; and it shall there after only make such loans as shall be necessary in the judicious management of its affairs, while liquidating the same; and all loans so made, shall be at a rate not exceeding six per cent. per annum, payable semi-annually, in advance.

depositors,

SECT. 363. The several savings and building associations in this 1865. state are hereby required to pay over to the depositors therein the To pay to the several sums due to the same, on or before the first day of July, 1866; when. and if any of the depositors in said savings and building associations are not known and cannot be found, the several savings and build- When to deposit ing associations shall deposit the sums due such depositors with the with treasurer of treasurer of this state, with the name and residence as far as known, of each of said depositors, on or before the first day of July, 1866, and the treasurer of this state shall give his receipt for the same, and

state.

Penalty for a violation.

shall, at least once in each year, advertise in such newspapers of this state as he shall deem expedient, the name of such depositors and the amount remaining due to each, and their last place of residence in this state, and he shall pay to such depositors, or to their order, respectively, such sums whenever the same shall be demanded.

SECT. 364. Any savings and building association, whose officers or directors shall knowingly violate or permit to be violated the provisions of the preceding section, shall forfeit to the treasurer of this state a sum not less than one hundred dollars, nor more than five hundred dollars, for each and every violation thereof, and the attor neys of the state, in their respective counties, shall prosecute every such violation; and any person residing in this state may prosecute any such violation in his own name, one half of which for feiture shall be for the use of the state and the other half to him who shall sue therefor and prosecute his suit to effect.

1841.

sociate to estab

grounds, and be

porate.

BURYING-GROUNDS, CEMETERIES, AND PLACES OF SEPULTURE.

SECT. 365. Any individuals, in any town in this state, may asso. Persons may asciate for the purpose of procuring and establishing a burying-ground, lish burying. or place of sepulture; and being so associated, they shall, on comcome a body cor- plying with the provisions of this section, be a body politic and corporate; may choose a president and other officers, may enact by-laws for regulating the affairs of such corporation, not inconsistent with the laws of the state, and compel the observance thereof by suitable penalties; may sue and be sued, and do all acts necessary and proper for the well ordering of the affairs of such corporation; but before any such association shall be entitled to the privileges granted in this chapter, it shall lodge with the secretary of this state a copy of its articles of association, and shall also cause the same to be recorded in the records of the town where such buryingground may be situated.*

1865.

association to re

for which

SECT. 366. All real and personal estate, which shall have been Estate given to given or granted to any association, duly organized according to the main to the use provisions of the preceding section, for the maintenance of any monument, the keeping in good order, or the embellishment, of any lot, or grounds, situated within the inclosure of such association, shall remain forever to the uses to which the same shall have been given or granted, according to the true intent of the grantor.

granted.

Not to be taken

warrant, or sold by creditors.

SECT. 367. Whenever any part of such burying-ground shall have by execution or been designated and appropriated by the proprietors thereof, as the burying-place of any particular person or family, the same shall not be liable to be taken or disposed of by any warrant, or execution, for any tax or debt whatever, nor shall the same be liable to be sold to satisfy the demands of creditors, when the estate of such owner shall be insolvent.

1853. 1856.

cure

&c.

a hearse,

SECT. 368. Towns shall have power to provide a hearse and pall Towns may pro- for the burial of the dead, and to procure and hold lands for burying'grounds, and to make regulations to fence the same, and to preserve the monuments erected therein, and to levy and collect the necessary taxes for that purpose, in the same manner as other taxes are collected; but this section shall not extend to affect the regulations of

An association for the pupose of enlarging an existing burying-ground may organize under this section. Edwards v. Stonington Cemetery Association, 20 C. R. 466.

such incorporated ecclesiastical societies, or other religious societies or congregations, as have separate burying-grounds; and such societies shall have all the power given by this section to towns. All incorporated burying-ground associations shall be exempt from tax

ation.

1850.

associations may

court.

SECT. 369. Whenever any community or association, which is the 1849. owner of a burying ground, or place of sepulture, wishes to enlarge Burying-ground the limits of the same, and cannot agree with the owner or owners take land of adof the land proposed to be taken for such purpose, application joining propriemay tors, on applica be made to the superior court of the county, wherein said land is tion to superior situated, giving twelve days' notice thereof to the owner or owners, by leaving an attested copy with him or them, or at their usual place of abode; and said court shall thereupon appoint a committee of three disinterested persons, who, after being sworn, and after giving reasonable notice to the owner or owners, shall proceed to examine the premises, and determine upon the propriety, public necessity, and convenience of such enlargement, and upon the quantity, boundaries, damage, and value of the land, which they shall deem proper to be taken for that purpose, and make report thereof in writing to said superior court, and the parties interested may appear before said court, and be heard thereon. And if said committee shall report that such enlargement is proper, and that public convenience and necessity require the same, and the court shall accept such report, the decision of such court thereon shall have the effect of a judgment, and execution may be issued thereon accordingly, in favor of the person or persons to whom damages may be assessed, for the amount thereof; but said land shall not be taken or inclosed, or used Proviso. for that purpose, until the damages so assessed shall be paid to said owner or owners, or deposited with the treasurer of the county, for his or their use, which shall be done within thirty days after said report shall be accepted.*

cemeteries, how

SECT. 370. Every person who shall willfully and maliciously de-_1847. 1861. stroy, mutilate, deface, injure, or remove, any tomb, monument, grave- Damages done in stone, or other structure, placed within any cemetery, graveyard or punished. place of public burial, or any fences, railing, or other work, for the protection or ornament of any tomb, monument, gravestone, or other structure aforesaid, or of any cemetery-lot within any cemetery, or shall willfully and maliciously destroy, remove, cut, break, or injure, any tree, shrub, or plant, within any cemetery, or who shall willfully and maliciously destroy, mutilate, injure, or remove and carry away, any flowers, wreaths, vases, or other ornaments, placed upon, or around, any grave, tomb, monument, or lot within any cemetery; or shall discharge any gun or other fire-arm within said cemetery, shall be punished by a fine not exceeding one hundred dollars, or by imprisonment in a common jail not exceeding six months, or by such fine and imprisonment both; but nothing contained in this section Not to prevent shall be construed so as to prevent the discharge of guns or other fire-discharge of guns arms, by any military company, by order of any commissioned offi- quies. cer of such company, while under arms, and in the performance of funeral obsequies.

obse

SECT. 371. The superintendent or keeper of any cemetery, grave- 1858. yard, or place of public burial, and any constable of the town in which Keepers of ceme

Petition may be sustained by corporation, having in its corporate capacity no ownership of burying-ground sought to be enlarged, if members of such corporation have interest in such ground. Edwards v. Stonington, 20 C. R. 466.

teries and con

persons doing

&c.

etables may ar such cemetery, grave-yard, or place of public burial, is situated, may rest, on view, arrest, on view, any person violating the preceding section of this act, malicious injury, and carry such person before the next justice of the peace, or other authority having cognizance of the offenses named in said section, to be dealt with according to law. And the justice of the peace, or other authority, before whom such person is brought, shall, on the oath of the superintendent or keeper, or of such constable, issue a warrant and cause such person to be arrested, and shall proceed to a hearing and trial of such matter of complaint.

Justice of peace,

to issue warrant and proceed to

trial.

City of New Lon

current jurisdic

ford, over New London cemetery grounds.

SECT. 372. The city of New London shall have concurrent jurisdon to have con- diction, with the town of Waterford, over so much of the territory of tion with Water. the town of Waterford as belongs to, and is inclosed by, the New the London cemetery, together with the road leading from the city of New London to the same, for criminal purposes; and all offenses committed on said cemetery grounds, and on the road leading to the same, may be proceeded with in the same manner, and be prosecuted by the same officers, and before the same court, as if said offenses had been committed within the limits of said city of New London, and said offenses may, in the complaint, be described as having been committed in said city of New London; and burials may be made in any part of said cemetery from the city of New London, in the same manner that they could be made, were the whole of said cemetery within the limits of said city.

INSURANCE COMPANIES.

1848.

tees or directors

surance

SECT. 373. At the election of trustees or directors of any mutual Election of trus life insurance company, incorporated by the legislature of this state, of mutual life in- not less than two-thirds of the whole number of such trustees or compa- directors shall be elected by members of such company entitled to vote, who reside within the limits of this state; and not exceeding one-third of the whole number of such trustees or directors as aforesaid, may be elected by members of such company entitled to vote, who reside without the limits of this state.

nies, how made.

In absence of non resident members, elec

SECT. 374. If the members of any such company, who reside without the limits of this state, shall not appear at the election of tion how made. trustees or directors of such company, either in person or by proxy, and shall fail to elect such trustees or directors, not exceeding one-third of the whole number as aforesaid, such trustees or directors shall be appointed by the trustees or directors who may be elected by the members of such company who reside within the limits of this state as aforesaid.

Officers or agents

SECT. 375. No president, secretary, director, trustee, or agent, of of mutual insur- any mutual life, fire, or, health insurance company, incorporated by may not procure the laws of this state, who may be employed or authorized to procure or vote on prox- policy-holders, or stockholders, in such company, or to receive appli

ance companies

ies.

cations, or subscriptions therefor, shall solicit or procure, directly or indirectly, or assist in procuring, any proxies from any stockholder in such company, to be used in any meeting of such company; nor shall any such officer or agent vote on any proxy in any such meeting; and any such officer or agent, who shall violate the provisions of this section, and every other person, who shall knowingly use any proxy so obtained, shall forfeit the sum of one hundred dollars, one-half to him who shall prosecute to effect, and the other half

« PreviousContinue »