1893 - State Library Information Center

486 STATISTICS OF LABOR AND INDUSTRIES.13. All matters not herein provided for shall be regulated bythe constitution and by-laws of said associations, respectively.14. The legislature may at any time alter, amend or repeal thecharter of any association created under this act.15. That companies organized under this act may divide orpartition the lands by them owned among their members by lot,in such way as to them may seem most advantageous 0 , and allconveyances made in pursuance of such allotment shall, for allpurposes, be valid and effectual.Supplement.*1. That any mutual loan, homestead or building associationheretofore organized under the laws of this state shall have powerto meet and reorganize and provide for the transaction of theirfuture business under the provisions of the act to which this is asupplement, by giving notice thereof by advertisement for fourweeks successively, at least once in each week, in a newspaperpublished or circulating where such company or association ialocated, which advertisement shall be signed by the secretary andstate the time, place and purpose for which such meeting iscalled, and also by sending a written or printed notice to eachstockholder containing the same information; when so assembledthey shall have power, by a two-thirds vote of the Btock present,to change, alter or repeal their present constitution and by-lawsand to adopt such new constitution and by-laws as they maydeem needful for their future government; provided, the same donot conflict with the laws or constitution of this state or of theUnited States.Supplement. (That nothing in the act to which this is a supplement shall beconstrued to prevent any association formed under the provisionsof the said act from taking a premium for priority of loan oracquisition of real estate, or discount on the redemption ofshares; and that no premium or discount so tak6n for such purposeshall be deemed to be usurious.* Approved March 25tb, 1876 (Revision, page 1272).t Approved April 21st, 1876 (Revision, page 1272).