The Laws of the State of New York Relating to Building Associations: Being the Statutes Governing the Corporations Variously Known as Building, Mutual Loan, Accumulating Fund, Coöperative Savings, and Homestead Associations, with Annotations Applicable to These Corporations GenerallyWillis Seaver Paine |
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Page vii
... deposit a first mortgage on the premises he intends to buy , but he must also pay a premium ef $ 600 , which , if deducted from the face of the loan , would leave the amount actually paid to him only $ 900 , or $ 600 less than he needs ...
... deposit a first mortgage on the premises he intends to buy , but he must also pay a premium ef $ 600 , which , if deducted from the face of the loan , would leave the amount actually paid to him only $ 900 , or $ 600 less than he needs ...
Page xii
... deposits , which was promised to all . Thus building associations increased ; borrowers increased ; and so long as their demands were unsatisfied , new associations would spring up . Disappointed in one , the applicant for money rushed ...
... deposits , which was promised to all . Thus building associations increased ; borrowers increased ; and so long as their demands were unsatisfied , new associations would spring up . Disappointed in one , the applicant for money rushed ...
Page xv
... deposits are at best but so much saved , with a small interest to be added . Under economi- cal management , with no fluctuation in trade to affect the steady earnings of labor , it can not be denied that these associations would be ...
... deposits are at best but so much saved , with a small interest to be added . Under economi- cal management , with no fluctuation in trade to affect the steady earnings of labor , it can not be denied that these associations would be ...
Page xviii
... deposits , with a small interest , claim that the association has violated the general law of its incorporation , and hence refuse to pay their monthly dues and interest . To meet this , and all cases similar , the committee would ...
... deposits , with a small interest , claim that the association has violated the general law of its incorporation , and hence refuse to pay their monthly dues and interest . To meet this , and all cases similar , the committee would ...
Page 18
... deposit as additional security to the amount of their present value . But as to loans made to new members on shares newly issued , the pledging of their shares is valueless as security . The practice of awarding loans excessive in ...
... deposit as additional security to the amount of their present value . But as to loans made to new members on shares newly issued , the pledging of their shares is valueless as security . The practice of awarding loans excessive in ...
Other editions - View all
The Laws of the State of New York Relating to Building Associations Willis S. Paine No preview available - 2017 |
The Laws of the State of New York Relating to Building Associations: Being ... Willis S. Paine No preview available - 2017 |
The Laws of the State of New York Relating to Building Associations Willis Seaver Paine No preview available - 2019 |
Common terms and phrases
accumulated actual aforesaid amended amount applicable arrears articles of association asso Attorney-General Banking Department Barb board of directors bond borrowing member Building and Loan Building Association by-laws capital stock cent centum certificate ciation committee contract corporate powers court of equity deemed deposits discount dividend duties election entitled evidence of debt examination exceed exempt fees filing forfeiture hundred dollars implied repeal incorporated company installments intended intention to withdraw investment joint stock company Legislature liability matured shares matured value membership ment monthly dues mortgage notice number of shares officers paid par value payment of dues person pledged poration premium privilege profits provisions purchase purpose real estate redemption fee repeal savings banks SECTION shareholders shares of stock statute stockholders superintendent taxation thereof tion transaction transfer trustees unpledged shares usury VOLUNTARY ASSOCIATIONS vote withdrawal value withdrawing member
Popular passages
Page 81 - ... per cent. of its capital, after deducting the assessed value of its real estate, and all shares of stock in other corporations actually owned by such company which are taxable upon their capital stock under the laws of this state, shall be assessed at its actual value and taxed in the same manner as the other real and personal estate of the county.
Page 58 - ... liable as a stockholder accordingly, and the estates and funds in the hands of such executor, administrator, guardian or trustee, shall be liable in like manner, and to the same extent as the testator or intestate. or the ward or person interested in such...
Page 30 - To hold, purchase, and convey such real and personal estate as the purposes of the Corporation shall require, not exceeding the amount limited in its charter.
Page 59 - ... any company which may be formed under this act. may increase or diminish its capital stock by complying with the provisions of this act, to any amount which may be deemed sufficient and proper for the purposes of the* corporation...
Page 45 - If the directors of any such company shall declare and pay any dividend, when the company is insolvent, or any dividend, the payment of which would render it insolvent, or...
Page 24 - ... has not defaulted in the payment of any part of either principal or interest of any funded debt authorized to be contracted by it, and...
Page 60 - ... to publish a notice, signed by at least a majority of them, in a newspaper in the county, if any shall be published therein, at least three successive weeks...
Page 36 - In case of any violation of the provisions of this section, the directors under whose administration the same may have happened, except those who may have caused their dissent therefrom to be entered at large upon the minutes of such directors...
Page 24 - No investment in any bond and mortgage shall be made by any savings bank except upon the report of a committee of its trustees charged with the duty of investigating the same, who shall certify to the value of the premises mortgaged or to be mortgaged, according to their best judgment, and such report shall be filed and preserved among the records of the corporation.
Page 42 - ... of stock subscribed for, and all previous payments made thereon, if payment shall not be made by the stockholders...