1893 - State Library Information Center

BUILDING AND LOAN ASSOCIATION LAWS.487Supplement.*further .upplemeat, ma, tan, , ham rf ,^1 ° , itan,and by the constitution or by-laws of andi «L *•amendment lawfully made theretoa8BOC^ion 8 or any2. That all shares of stock heretofore'issued in different seriesby any such assodation according to the provisions of its contftuUon or by-laws shall be as valid and eflectual to all intents andS r i "thl8 ^ ^b-.^-.Priorto the issuing3. That whenever the constitution or by-laws of any such associationmake no provision for the manner in which the samemay be amended, such association may amend its constitution orby-laws at any regular meeting of the association by a vote oftwo-thirds of its members present at such meeting; provided, thatthe proposed amendment shall have been submitted in writingand entered upon the minutes of said association at least fourweeks before a vote shall be taken thereon.4. That all acts and parts of acts inconsistent with any of theprovisions of this act be and the same are hereby repealed.Snpplement.tWHEREAS, Doubts having arisen as to the legal right of associationsformed or incorporated under or by virtue of theabove-mentioned act and the several supplements thereto,to issue new or a series of shares under their original acts ofincorporation; and whereas, a number of said associationshave issued new or a series of shares, believing that theyhad a legal right so to do; now, in order to remove alldoubts on the subject, and to legalize the same and theissuing of certificates of stock therefor, and to hereafterauthorize the formiug of such new series':* Approved March 29il), 1887 (P, L., p. 62).t Approved February 14th, 1888 (P. L., p. 36). . •