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of the associations which are now, or may hereafter be formed under the general banking law.

CHAP. 91.

AN ACT for the protection of savings banks and institu-
tions receiving deposits from married women.
PASSED March 25, 1850.

The People of the State of New York, represented in Senate and Assembly, do enact as follows:

CHAP. XX.

married wo

them.

$1. When any deposit shall be made in any savings bank Deposits by or institution, by any female, being or hereafter becoming a men may be married woman, in her own name, it shall be lawful for the paid to trustees or officers of such bank or institution to pay such depositor such sum or sums as may be due such female, and the receipt or acquittance of such depositor shall be a sufficient legal discharge to the said corporation therefor.

ing to at

ing may be

$2. If any trustee of any savings bank or institution shall Trustee failfail to attend the regular meetings of the board of trustees tend meetthereof, or to perform the duties devolving on him as a mem- removed. ber of said board for the term of six successive months, withont excuse satisfactory to the board, he may be removed from the office as such trustee at the pleasure of the board.

CHAP. 72.

AN ACT to authorize savings banks or institutions for savings to deposit surplus funds in trust companies. PASSED March 21, 1854.

The People of the State of New York, represented in Senate and Assembly, do enact as follows:

$1. It shall be lawful for any savings bank or institution for savings to make temporary deposits in any trust company incorporated under the laws of this state and authorized by the supreme court to receive and hold trust funds and subject to examination by said court.

CHAP. 336.

AN ACT to regulate the distribution of the assets of Savings Banks or Institutions for Savings, by receivers thereof.

PASSED April 12, 1855; three-fifths being present. The People of the State of New York, represented in Senate and Assembly, do enact as follows:

31. The receiver or receivers of any savings bank or institution for savings, now or hereafter appointed in pursuance

PART I.

of section forty-one of article two of title four of chapter eight of the third part of the Revised Statutes, shall, after having complied with all the provisions of said title from the section aforesaid to and including section seventy-eight of said title, distribute the residue of the moneys in their hands among all the creditors of said savings bank or institution for savings, whose debts shall have been ascertained from an examination of the books of account which shall have been kept by such savings bank or institution for savings or otherwise, in the order prescribed by section seventy-nine of said title, whether such creditors shall then have exhibited their claims or not.

To make yearly report.

False swearing.

Failure to report.

CHAP. 136.

AN ACT in relation to Savings Banks.

PASSED March 20, 1857; three-fifths being present. The People of the State of New York, represented in Senate and Assembly, do enact as follows:

$1. The several savings banks or institutions for savings now incorporated, or which may hereafter be incorporated, shall, on or before the twenty-fifth day of January, and on or before the twenty-fifth day of July, in each year, make a report in writing to the superintendent of the bank depart- ment, of the condition of such savings bank or institution for savings, on the first days of January and July; which report shall be verified by the oath of the two principal officers thereof; and shall state therein the total amount due to depositors; the total amount of assets of every kind; the principal sum of each and every bond and mortgage, with the estimated value of the property on which it is based; the amount invested in stock, designating each particular kind of stock, and the estimated market value of the same; the amount loaned upon the security of stock, with a description of all stocks so held; the amount, if any, loaned on personal securities; the amount invested in real estate; the amount of cash on hand, or on deposit in bank, with the names of the banks where deposited, and the amount placed in each; and the amount loaned or deposited in any other manner than herein described. The report of January in each year, shall, in addition, also state the number of open accounts; the amount deposited, and the amount withdrawn; also, the amount of interest received, and the amount placed to the credit of depositors during the year preceding the date of such report. Any wilful false swearing in respect to such reports, shall be deemed perjury, and subject to the punishments prescribed by law for that offence. And if any savings bank or institution for savings, shall fail to furnish to the superintendent of the banking department, its report at the

times herein stated, it shall forfeit the sum of one hundred dollars per day for every day such report shall be so delayed; and the said superintendent may maintain an action in his name of office to recover such penalty, and when collected, the same shall be paid into the treasury of the state.

CHAP. XX.

perinten

§2. It shall be the duty of the superintendent of the bank Duty of su department, on or before the twentieth day of February in en each year, to communicate to the legislature a statement of the condition of every savings bank and institution for savings from which reports have been received for the preceding year; and to suggest any amendments in the laws relative to savings banks or institutions for savings, which in his judgment may be necessary or proper to increase the security of depositors.

dent to ex

fairs

$3. Whenever any savings bank or institution for savings Superintenshall fail to make a report in compliance with this act, or amine afwhenever the superintendent of the banking department shall bank of have reason to believe that any savings bank or institution for savings is loaning or investing money in violation of its charter or of law, or conducting business in an unsafe manner, it shall be his duty, either in person, or by one or more competent persons by him appointed, to examine their affairs; and whenever it shall appear to the superintendent, from such examination, that any savings bank or institution for savings has been guilty of a violation of its charter or of law, he shall communicate the fact to the attorney general, whose duty it shall then become to institute such proceedings against said savings bank or institution for savings, as are now authorised in the case of insolvent corporations. The Expense of expense of any such examinations shall be paid by the savings tione. bank or institution for savings so examined, in such amount as the superintendent of the banking department shall certify to be just and reasonable.

examina

legislature.

$4. No savings bank shall hereafter be required to make Reports to an annual report to the legislature, any provisions in their charter to the contrary notwithstanding.

$5. The superintendent of the banking department is Clerks. hereby authorised to employ from time to time so many clerks as may be necessary to discharge the duties hereby imposed; the salary of said clerks shall be paid to them Salaries. monthly, on his certificate, and upon the warrant of the comptroller, out of the treasury; and it shall be the duty of the said superintendent, in his annual report to the legislature, to state the names of the clerks so employed, and the Names. compensation allowed to them severally.

refusal to

$6. It shall be the duty of the superintendent to collect all In case of the expenses incurred in the performance of the duty hereby pay proper imposed, including the salaries of the clerks, and such ex- charges. penses shall be defrayed and paid by the savings banks and institutions for savings, in proportion to the amount of deposits held by them severally, and when collected, the same

PART I.

Rev. Stat. extended.

shall be paid into the treasury of the state. If any savings bank or institution for savings shall, after due notice, refuse or neglect to pay its proper share of said charges so allotted, then the said superintendent may maintain an action in his name of office against such savings bank or institution for savings, for the recovery of such charges.

CHAP. 336.

AN ACT concerning Marine Insurance in the State of
New York.

PASSED May 1, 1829.

The People of the State of New York, represented in Senate and Assembly, do enact as follows:

$1. All the provisions of title twenty-first of chapter twenty of the first part of the Revised Statutes, respecting insurance on property in this state, made in foreign countries, and by individuals and associations unauthorised by law, and all the prohibitions, requirements and penalties therein contained, are hereby extended and applied to contracts of insurance, or by way of insurance against marine losses and risks, or by lending money on respondentia or bottomry, and to all persons, associations or companies, and agents of the same, making, effecting or procuring any such insurance, or contracts, by way of insurance or loan, or any other business which marine insurance companies, incorporated by the laws of this state may or do trausact, by virtue of their respective acts of incorporation.

Amount to

treasury.

CHAP. 30.

AN ACT amending the Revised Statutes, in relation to insurances made on property in this state against losses by fire in foreign countries, and by individuals and associations unauthorized by law.

PASSED February 21, 1887.

The People of the State of New York, represented in Senate and Assembly, do enact as follows:

$1. Section three of title twenty-one of the first part of the Revised Statutes, is hereby so amended as to read as follows:

3. There shall be paid into the treasury of this state, on be paid into the first day of February in each year, by every person who shall act as agent for any individuals, or associations of individuals, not incorporated and authorized by the laws of this state, to effect insurances against losses by fire, or against marine losses and risks, although such individuals or associations may be incorporated for that purpose by any other state

or country, the sum of two dollars upon the hundred dollars, and at that rate upon the amount of all premiums which, during the year ending on the preceding first day of September, shall have been received by such agent or any other person for him, or shall have been agreed to be paid for any insurance effected or agreed to be effected or procured by him, as such agent, against loss or injury by fire, or against marine losses or risks.

20 B., 68; 3 E. D. S., 440, 453.

CHAP. XX.

amended.

S2. The fourth section of said title and chapter is so far Section amended, as to require the condition of the bond, in said fourth section mentioned, to be for the payment of two dollars upon each one hundred dollars, instead of ten dollars as now required by that section.

CHAP. 287.

AN ACT in relation to Mutual Insurance Companies.

PASSED May 13, 1840.

The People of the State of New York, represented in Senate and Assembly, do enact as follows:

surance

may loan

$1. Any mutual insurance company heretofore incorpo- Mutual inrated in this state whose charter limits the amount to be paid companies down upon premium notes to a sum not exceeding five per mon cent, may loan such portion of the said five per cent as may moneys. not be immediately wanted for the purposes of the corporation, upon good and ample security by bond or promissory

notes.

mortgages

2. All bonds and promissory notes heretofore taken by Bonds and any such Mutual insurance company for money loaned, shall received, be valid, and may be collected by such company.

[See in Part Third, under head of "Domestic Relations," Laws of 1840, ch. 80, for "An act in respect to insurance for lives for the benefit of married women."]

CHAP. 294.

AN ACT in relation to the insurance of public buildings.
PASSED September 18, 1847.

The People of the State of New York, represented in Senate and Assembly, do enact as follows:

valid.

to be insur

$1. The public officers having by law the care and custody Buildings of town, village, city or county buildings, are hereby autho- ed. rized to insure the same at the expense and for the benefit of the town, village, city or county owning the same.

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