Page:United States Statutes at Large Volume 31.djvu/1355

 FIFTYZSIXTH CONGRESS. Sess. II. Ch. 854. 1901. I 303 shall be subject to all the provisions of the Revised Statutes and of all acts of Congress applicab e to national banking associations, so far as - _ the same may be ap licable to such savings orother banks: Provided, hm"; _ That any savin s banks established before eighteen hundred and b§}},*;f,°”{§,§§?*“b1‘sh°d seventy-four shaIl not be required to have a paid-up capital exceeding one hundred thousand dollars. Sec. 714. CoMr··r12oLr.EaAUrHoa1zED ·ro EXAMINE.—TllB Comptroller ex§°§§f,f°“°' m" of the Currency, in addition to the _ owers now conferred u on him by ‘ law for the examination of national) banks, is hereby furtllbr authorized, whenever he may deem it useful, to cause examination to be made into the condition of any bank in the District of Columbia organized under act of Congress. The Comptroller, at his discretion, may report to Congress the results of such examination. The expense necessarily eeincurred in the execution of this section shall be paid out of any appropriation made by Congress for special bank examinations. Soncnarrnn ELEVEN. TRUST, LOAN, MORTGAGE AND CERTAIN OTHER COR- T¤‘¤¤*· *0***- .m°"j roinirion s. — §?%$$§-‘..€fi.'F.%?" °"‘ SEO. 715. Fon WHAT PURPOSES T0 nn FonMn1>.—Corporations may mgorfvgzg 1>¤=x><>¤¤¤ be formed within the District of Columbia for the purposes hereinafter e ° ' mentioned in the following manner: At any time hereafter an number of natural persons, citizens of the United States, not less than twenty-five, may associate themselves together to form a company for the purpose of carrying on, in the District of Columbia, any one of the three classes of business herein specified, to wit: First. A safe deposit, trust, loan, and mortgage business. Second. A title insurance, loan, and mortgage business. _ Third. A security, guarantee, indemnity, oan, and mortgage busi- _ ness: Provided, That the capital stock of any of said com an1es shall g‘,§'{;‘{· ,,0,,,, mq not be less than one million dollars, and that any of said companies quiredmay also do an storage business when their ca ital stock amounts to the. sum of not less than one million two hundres thousand dollars. _ Sec. 716. Oneaurzxrrox cn1rr1mcAr1·:.—-Such persons shall, under c,§,§?““‘”““°“ "°‘““`· their hands and seals, execute before some officer in said District competent to take the acknowledgment of deeds, an organization certificate, which shall specifically state- First. The name of the corporation. Second. The purposes for which it is formed. Third. The term for which it is to exist, which shall not exceed the term of fifty years, and be subject to alteration, amendment, or repeal by Congress at any time. Fourth. The number of its directors and the names and residences of the officers who for the first year are to manage the affairs of the company. Fifth. The amount of its capital stock and its subdivision into shares. . Sec. 717. Pownn or Commssronnns or tran DISTRIGT.+ThlS certiii- ,,§{’§{,f°,j,,§’{’,,*§,’,?,’,§‘ cate shall be presented to the Commissioners of the District, who shall g;eQ1¢;g1t*gbi¤ with NF have power and discretion to grant or refuse to said persons a charter ` of incorporation upon the terms set forth in the said certificate and the provisions of this subchapter. ‘ _ _ Sec. 718. Notrxcn or APPLICATION TO "C0Mmss1oNmns.—Previous to mN§§§§$,§’f,§,}},§,l;,°§_“°“ the pxresentation of the said certificate to the said Commissioners, notice a of the intention to apply for such charter shall be inserted in two newspapers of general circulation, printed in the District of Columbia, at least four times a week for three weeks, setting forth briefly the name of the proposed company, its character and object, the names of