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• t i l tow**. vllla«e» and <*l«i <* t h e * w - r w l e» C e U w si e m on« B»a third, cUum, Kim * i<* i iiii WI | u DekW iw, clerks, enuunlnws, special S M When c o llected Shan be rwfcl I n te t h e cesm- aiveete »ed otlH r cpipl»Tee«; a ppuin U n e n t; ty treem iry to th e credit e t th e fen d to r , companaafthm; oath of office The auper- th# mmhstoeeeoa o f etate and co a a ty bteto- Intond e a t m ay appoint a first, a second, a w a y s In t l * aaaaral tow a e , locorporatad Ustrd, an d a (oorth deputy, and shaU em- ytlkW ee a n d said cltie* of t h e eeeety. p i e , trim tim e to tim e euch clerk a exam - |X T h is e e t s h a * t a k e eftocttm m e d k steJlk tnera, spanlal a»ents and other em p loye* atw te o f Wow York. Office o f t h e S e c retary i a n he m a y need to dtacharse In a proper Of S tate, e a : m a n n e r th e duties Imposed up n him by I haree eam p e red t h e prracOdVnor w tth t h e taw . T h e y shall perform such duties aa orttfinel law on Ota In th le office, and d a th e superintendent ehell assign t e them hereby eertify the* t h e earns la a eoeract and th e i r ootnpensatlon shall be fixed by traneertot therefrom a n d of t h e w h a le e f him and paid monthly. Kvery deputy said ertsto a l law. ______ shall, w ithin fifteen days a f t e r notice ef n u u r c r a M. B n x x x ' I h is appointm e n t, tak e and subscribe the Beorota r y e f S tats, im a a tm u liw a i oath of offloe, and file the LAWS OF new Y O R K —By A otherWy. state. E v e ry exam iner shall, before en- C H A p 662. tssin g upon Ms duties aa such exam iner. tak e and eebecribe t h e coaetltuU o n al oath of efltoe and file th e sam e la th e office of AW A C T t o em e n d t h e puktte health lew . In rota tion t e th e re d e t r a t lo n o f phynt- Beeasnam. tear M a r X 1«X w ith th e ap proval o f th e G o vernor. .Pnw t d. throw fiftjie bv ln r preeeot. X b e People e f th e S t a te of N e w T- epreeented In enaot a s toSdwa: r sm aaw ited In S e e a te and Asssm bt 1# * ik e s e t a #f tiro M l e n i p a r t y nin e flf chapter forty-nine of to o law n ‘ » e r m o u th < ■ 1 1 ite> 1 sm w m tea--------------------- 1WW • ___ ... a 00 to . 88 88 th e d e r * of t h e county w h e re be r e s id e s I 1 A r ticle nine of eaid chapter three bnndred mad slxty-nlne o f th e law s of nineteen hundred and fourteen Is hereby and am e n d e d to read aa fol- of nln at sea hundred aa d \A * act In relation to th e public health, eonatttuttn* chapter forty-five e f t h e eon- sottSstsd law a \ te hereby aw is d to road a a foil owe: |W . U e e n a e a On reeetoln* from th e s t a t e board a n official rep o r t th a t an ap- I pHnawt baa suooeaafaUy p a » s l th e exam - i I n e t Inns and la reeonunended fo r Itrsnoa, th e r e gen ts abed Issue to him n Masaaa to proctiao eooeedla* t o th e quaBO catioea e t th e eppOoant. E v e ry license ehaU he to- I weed by the esitventity under seal aad shell b e alsned by each a c ti n r medical eaentiner and by t h e officer e t t h e tm lror- I sh y w h o approwed th e credential w h ic h adm itted th e candid a te to raa ialaarton , told WhaH e tate t h a t t h e licensee h a s « tv e a aethtieeaery evtdenca o f fitneaa as to s e a character, preH n d n a ry and m edical edu cation and all other m a t t e r s required by law. and th a t a f ter full exam ination he h a s been found properly queUfted to proo tio n AppHcanta exam ined and licensed by eth e r abate exam lnto* bonrd# radiator- | ad by the resen ts a s m a intaining stan d a r d s n o t leanw than th o s e provided by thto artloto nod applicant* w h o iw ttriculated hi j a Wow T u rk sta t e m edical school before J a n n fifth, eighteen bandrod a a d ninety, aad w h o received th e degree of doctor e f m edicine f rom a registered m edical eohoel A i m C L K IX. P s raonat l e n n Comp a n lee; Personal Loan B rokora Section Mb. Ir jorporation; argantxation MS. W h e n oorporato ex h ten c e begins: u>ndltlta>a precedent to cerouiencbig bual- M t B o n d to be filed w ith superintendent. SO R ights of duly licensed personal loan aaew tiatioo and duly auth o r iied personal loan com p a n ies and personal loan brokers preserved and conthiued. Ml O o o e ral powers. f Mb. R e s trictions on loana, interest and MS. R e st r i c t Iona po evidences of Indebt- e d n e aa M7 Rentrtotione o n a s signm e n ts of w ages. Mg R e s trictions on place of transacting a* . R e s trictions on branch offices. * 0 . N e t earnings and dividends. J * 1 . R e v o c a tion of e u thocitation. ■ t C h a n g e of location. WL A n n u a l m e e ting of stockholders ML Qualification of d irecto r s *6, O a th of directors, e t T e n u r e of directors, B7. M e eting of directors. « t Com m u n ications from banking de- befero A u g u e t/dret. eighteen hundred and ninety-five, rfiay w ithout fu r th e r exam l- nattoo, e a paym e n t e f tw e n ty-five dollars to t h e r e g e n ts a n d »n s u b m itting euch evi dence as they m ay require, receive from e f wages from m in hr— te i them an indorsem e n t of th e i r Mcsnoso o r , e b a il he a t . t h e ro te of tw o del- j diplom as, conferring all rig h ts and prhti- lars per nxaati* to r eaoh gtx m o n tisr o f > leges o f a regents’ license c o n t i n u e s a w vlDi T h e prevtatona of thto , * mi n a tion. The com m issioner ef section w tth roepeet to the rate of wage* to be paid eeploycee to all poeW one nnm»d in th e foregoing eehedulea a h a ll supersede t h e provM o o e of any eth e r gen eral or special law . 1 1 Thle a c t shall tak e effect Immedi ately. S tats of N o w Y s rk, Office e f the S e c retary I have com p a red fb a preceding w ith t h e original tow on file In thto office, end do hereby certify th a t th e eesne to a correct transcript Uttoifirowi e n d of th e whole of aald original law . FR A N C IS M HUGO. Beeeetary ef Stafia ME Pernonal loan brokers; application. *6. P e r m a n e n t c a p it a l.1 Ml Conditions precedent to engaging hi * t Pow ers, duties and liabilities of au thorised broker. M |-a. D e signation of superintendent of banks aa atto r n e y for service of process, w h e n required. M l Title to be taken In descriptive n e m a issued a f t e r ex- i *<- R e s trictions on profits of personal loner e f ednoa- toen broker tion m a y to his discretion on t h e approval * * t° gup*rtn.t*n<1<:1?t- . ___ ot th e board of r e g e n ts Indorse a Hcenee . ^ L iability for assessm e n ts by eoper- or dlptom a of a physician from another ^ tab le practice for a period of ten years. w itness kitdiiuTTu 3 hrffip i H<><llli??|1 1 01.!n i f ^ r ^ - ^ PeIULlt:lr for Publishing etatem e c ta am lnence and authority In his prsfewtoto. calculated t o deceive. Any physician, who w a . aotuaU y angaped [ ^ ETtdeofce of violation. the practice of m edicine in this sta t e p r io r t e Septem b e r flrat, eighteen hundred STL W h a t codatitutea a loan w ithin the LAWS OF n e w YORK—By Awtherity. CH AP. MA AW ACT In r eto tt ea to etoU eervlce ero- iM p n n eepnrtoad from th e eerrtee to a la w M ay X M X w tth th e ny- e f th e Odveenor. Passed, titroe- i of WWW T e rk. do T h e People e« th e 1 t h e Mvfi enretoe ne th e result o t a eefiWro sm a u h tottnr usd w h o w h ile Ing'a puaPfiin l a th e eoaapetlttoe elaae y tfto toeffi e a rvlee iwles baa been eep- e» f t o m th e earetoe tbsough th e abe- i e f aato fiayareeiant or office of th e i g w A toanent h a t wa t o t h e first d a y ef th e first day e f totiV. sle w a e d fifteen, through no d e ig n hie pert, shell _ _____ a h e a n y provision o t th e • M l e e rsto s law e r t h e d v f i eerrtee re lee kg »setose < te th e nearest appropriate effiAkto list w tth o at -I i Stof a tlon a t t h e ■am* retbs* w h toh he b e d upon th e Met erW n s a law W lMe to ttoe office, and do haseby eaetlfy th a t th e earn , to a correct HOOD, Base al ary e f fitirta L A W S OF ffC W Y O R K —S y A e r tW R y . CH A P . fiHL AW ACT to grossid eheptor W r t y of » • law a of aihuitssn hsm d rad and ntoe. ea- tlttod “A a s e t r o tottoe to htohwaya. c m - stltuting chapt er tw e n ty - f ir . e t t h e <**»- ecUdatod la w a \ In rrtetto n to m aloto- naoee e f e ta t e aw l county Mgbarape. Becam e a tow M ay X AM, w ith t h e ap proval of th e G o v e rnor. Passed, threo- flfthe being preaent. The People of th e S t a t e e f Now T e r k . reprseentsd In B e n a U a a d AseemMy. do enact a e follow s Section L Secttoo one bandrod and eev- soty two of c h a p ter t h ir ty of the law s e t ■toeteen hundred and nine, entitled “ Aa act relating te highw a y s, oonetituting ch a p ter tw e n ty-five of the consol!dated law a ” !e hereby am e n d e d to reed ae toi- , v i tows: | l i t C o s t to tow n to r m a intenance e f ktate and county highw ays. E a c h tow n si is 11 p a y fo r th e matotvmxuca aad ftp e l r nf etate an d county highw a y r each year the sum o t fifty deU ars far eaoh ratle e r m a jor tractio n e t a mite e t th e total mtie- ags of s t a t e *n0 county hlgbw a y e w ithin the town, each Incorporated village shall pay for euch m a intenance and repair a t th e rate o f one and one-half route for « .ch square y a rd ef surfer* of such 1m- m alntalnvd by th e etate Mush city — p e r f o r s u c h m aln- a t the,\rate ef three y of , the second elaae m a intenance and repair cents, for each equare - ■’ 1 highw a y Its although eligible to d o so a t t h e time, e r any physician, w h oee registration to not legal because ef some error, m isunder sta n d i n g ot unintentional omission, m ay on t h e unaalm o u e recom m e n d a tion of the sta t e board of m edical exam iner* th a t he I hae subm itted s a tisfactory proof of having \ complied w ith all th e requirem e n ts pre scribed by law a t th e tim e of hie failure to register, o r Me laeom p lote registration, receive from the regents under eeal a car- ; ttficate e f th e facts which m a y be regis tered by any county clerk and shall m a k e valid hie registration. B e fore any Hcenee to Issued It shall be num b e red and record ed to a back kept In th e regents’ office, and its a u m b er shall be noted to th e 11- ceaee; aa d a photograph of th e Itceaaoe filed w ith records. Thle record ehell be open to public inspection, and to all legal proceedings shall have th e sam e w e ight aa evidence th a t la given te a record of comFsymnc* of l&adL | L This a c t s h a ll t a k e e ffect im m e d ia te ly S t a te of New York, Office of t h e Secretary e f B tste, ae.: I b a r e compered th e proved tag w ith th e original law on 111# In th is office, and do hereby certify th a t t h e sam e la a cerrect tran s c rip t therefrom a a d ef th e w h ole e f •aM L ertgtaal law. FR A N C IS M. HUGO. S e c retary of BtaSa L A W H O F r * e w Y O R K — B y A u t h e r t t y . MK JWCT t e em e n d th e code of to l l pro- eedero, to r e i a tt o e to tiuunsfe- eitoppeale f r o * en e appellate division t o another | MB. In c o rporation; organisation certifi cate; am o u n t o t capital stock. WHCli au thorised by the superintendent of banka a* provided tokaection tw e n ty-three ot thto C h a p ter, th f w or more persona, all of whom ahall be d tlsen s o t the United States, m a y 11 fo rm a corporation to be know n aa a personal loan company. R ich persons shall subscribe and acknow ledge and subm it to t h e superintendent of banka a t his office an organisation certificate In d u p licate w h ich ehaU specifically state: L The nam e ef the corporation which ahall include th e words \personal loan 1 T h e place w h e re Its business to to be transacted X The am o u n t of Its capital stock, and th e num b e r ot shares into w h ic h . euch capital stock shall be divided, w h ich cap ital stock al.all not be less than: (a) Ten thousand dollars. If th e place w h e re Ita bualneae.la to bo tran s a c ted li In a city o t th e first or second class; <b> F ive thousand dollars. If the place Where Its business to to be transacted to located elsew h e re In the state. t. The full name, residence and poet- office address of each o t th e Incorporators and th e num b e r of shares subscribed for X T h e term of Its existence, which m ay be perpetual. g The num b e r of Its directors which shall n o t be less th a n three, and the nam e s an d addresees of th e Incorporators w h o ahall be Ha directors until Its first ■nnaei m eeting of stockholders. -6Uch certificate may provide for the In w h ich the stock of the corpo ratio n m a y be transferred and to r the ■ of directors neoeeaary to consti tu te * Quorum | ML W h e n corporate extotonce begins; isl- m de en nt t shaU hs on certificate, as provided b; soadent to comm encing bui W h e n the superinte n d i hail h a v e his approval on the organisation section tw e n ty- throe of thle chapter, the corporate tetenoe o t th e personal lean com pany ahall beg in an d It ehaU then have .power to elect officer# and to t r a n s a c t such oth- t> a p p e lla te (Wvtotoo t o anotn e r ■ a law M ay X IMA w ith th e ap- ; ” | ef the G o v ernor. Passed, three- I “ i m * being peeeenL The People of th e S t a te o t N e w Yertc, repreeeated to S e e a te and AeeeaaMy. do eamot ae fsfiow i: Boctioa L Section t w o b a n d rod a n * Ottr- ty-eiee ef th e code of civil procedure, li hereby am ended to r e a d aa follow*. | ML R e a rgum e n t, et cetera, w h e e cases to be beard la an o th e r d e p a r t m e n t . ______ _______ ________ ________ _____ W h e re In any ease to u r justice* e f th e | „ bu^'nw ..\ r e l a t e # to Its organtoatlon. appellate dtototon In an y d e p a r tm e n t a r e ; g , , |t tran a a c t ne other business not qualified to alt thereto, or w h e re th e ; untli I ju s t i c e qualified to h e a r th e appeal a n squally divided, t h e co u r t m u s t d irect the sam e to be Sent to an o th e r departm e n t t e be apecified In t h e order t e be th e r e heard and determ ined. W h e re ffi aay case when a n appeal t e t h e appellate division e t any departm e n t comae on for argum e n t, and th e justice before (whom th e action waa tried o r who granted tn e order appealed from, to a m em b e r e f euch appellate divi sion. t h e appellant m ay m a k e a n applica tion to euch a p p e llate division to r . and the c e w t m ay grant, an order directing th a t euch appeal be sent to an adjoining de partm e n t te be eperlrloi to the order, to be th e r e h e a r ! and determ ined. The ap pellate division m ay In aay o th e r appeal m a k e a n order In the fu rth e r a n c e e f lee- , tic*, aireeting t h a t such appeal be eeet to the appellate dtvielon of any departm e n t to be th e r e heard aad determ ined. « t Thto ac t a b sll tak e effect ImmadtoteBy. State e f New T e rk, Office e t the Secretary T-f Stat*, as.: v 1 tsevo compared th e preceding w ith tiro srigtoal law on Ole In th is office, and do hereby certify th a t th e eam e U a correct h - .n .- r in , (herefrom and o t th e w hole <# ™ H i m oo. ' FR A N C IS M 1. Afi of Its capital stoat been frtly paid to cash and statin g th a t It hae been se paid, sub scribed aad sw o rn to by Its two principal officers, ahall -have been filed In the clerk'e office o t the county to w h ich Its place of busfoeee la located, nnd a certi fied copy thereof filed to the office of the L T h e bend subm itted by It to the en- pertotendent of banka ap required In sec tion th r e e hundred and forty-tw o of thto article ahall havq been approved and filed the authorisation c e r t i f i e s le* auction tw e n ty-four o t this V> b e filed w ith superintend . r> personal lean com p a n y shall subm it to the superintendent o t banka i bend, running to him officially, execute by it, a* principal, and by a corporation ed by the sooertntendent ot in to t r a n s a c t th e bust nee# ot surety » th is state, a s surety. In an aqieemt equal te oee-tenth of the capital stock of e c - h personal loan com p any and not Aae In e n y event th a n the sum o t throb thousand dollars, conditioned upon the of law an d t l * pro- authorlxaU o n eertlficat* by th e #u- ■tortntendent ef banks 1 ML R i g h t, of duly lean associations and duly authorised per- •waal loan companies, and personal loan a t th e tin * e f each paym e n t ef eatery e r broker* preserved and continued. A p e r - , w a g e # If the am o u n t of t h e loan baa not rooal Man association heretofore o r g a n - ! h e w paid finch assignm e n t or order ehaU toed and subject to article ten of the net be subject to the provision# of eecdoo banking law aa am e h d e d by chapter ene tarty -tw e e f the personal property law. hundred tw e n ty - w r e n of- the law e at finch a a ----- I— — — ~ ntoeteen hundred and ten la an d ahall be deemed duly organised under thto article, notw ithstanding the repeal of sold article ten o r of the a r t under which such association waa luoorporated If, a* th e tim e thle act tehee effect, euch elation ia law fully engaged to bu p u r s u a n t to a license duly leaned by the superintendent of banka o r an au th o r is a tion certificate leaned under the provl sIons ot chapter five hundred and eight een of th e lawe of nineteen hundred and fourteen. Any such association la hereby author ised to continue In business under the provisions of th is article until the expire- tlori of euch license o r until euch authori sation certificate haa been revoked by the superintendent of b a n k a to accordance w ith the provlatona of section tw e n ty-nine of this chapter. P r io r to th e expiration of such license, (any euch personal loan association m ay apply to th e superintend en t of banka fo r an authorisation certifi cate under th e provisions of this chapter and, It the superintendent of banka be Satisfied from euch exam ination and In vestigation aa he m ay deem necessary, th a t such personal loan association haa complied w ith the provisions of law a p plicable te It he m ay, within th ir ty days a f ter the filing of such application, tosue to It a n authorisation ertiflcate ae a per sonal loan com p any and thereupon such personal loau association ahall becam e a duly authorized personal loan company subject to all the provisions of thla article. Any such personal loan association the title of which doea not Include the words '■personal loan com p a n y \ ahall to all con tra c ts to which It la a p a r ty and In ad vertisem e n t# published by it Inaert the descriptive w o rds “a pernonal lean com pany\ to parentheses a f t e r Its legal title. A pernonal loan com p a n y which has re ceived an authorization certificate under th e provisions of chapter five hundred eighteen of the law s of nineteen hundred and f o u rteen la hereby continued and ahall be deemed duly organised under th e p r o visions of thle article, notw ithstanding the repeal of euch act. Any personal lean com pany and any personal 1c authortzat!<#n alona of chapter five hundred and eight een of the law e of nineteen hundred and fourteen la hereby authorized to continue to bustnees under th e provisions of this article until euch au thorisation certificate haa been revoked by t h e superintendent of banks, to accordance w ith the provision* *for lo an broker who haa received an ti certificate under the provt- of section tw e n ty-nine of thla chai I 344. General powers. In addition te th e pow ers conferred toy th e general and :k corporation laws, every personal contained to this article, have the following powers: 1. To m ake loana, to Ita discretion. ■took corporatio n law s, eve ry pers loan company ehaU, subject to the strlctlons and lim itations containe d In it upon loana raid* ubdlvisions the ra t e of Interaat of six per centum pet annum . 2. To act a# a paw n b roker w ithout com plying w ith any condition# o th e r than those contained In thla article. 3. To m ake email loans to needy bor rower* upon any of the following eecuri- tiea: (a) M o rtgages upon personal property w ithout the a c tu a l delivery of th e prop erty ; (b) N o tes of th e borrow e r endoraed o» guaranteed by ano th e r person; 'M e) A ssignm e n ts or orders for the pay m ent of salary or w a g e s by the borrow er o r another person. A To charge intere s t to accordance w ith sub d i tw o and three of thla eectlon. 1 846. R e s trictions on am o u n t of loan. Interest and chargee. E v e ry personal loan com p a n y ahall be subject to the folio w ing restrictions upon th e m a k ing of loana and on chargee for aervicee In connection th e r e w ith : L No loan m ade under subdivisions Two and three of section three hundred and forty-four of thla article shall exceed tw e hundred dollars, nor shall any person owe any euch corporation on account of euch loan m o re th a n tw o hundred dollars for principal a t any one tim e t Interest ahall not be charged o r col lected to advance and ahall be computed on unpaid balances. 3. Interest on loana m ade gfi9-# paw n broker shall not exceed three per^centum per m o nth and no o th e r charge oTTni?' kind shall be m ade by such corporation when acting aa paw n b roker 4. I n terest on loans m ade as provided to subdivision th ree of section three and forty-four of this article ahall not be charged lit a rate to exceed two per cen tum per m onth. 6. F o r a loan exceeding fifty dollars charge of not m o re than tw o dollars m ay b# m ade for expenses. Including an y ex am ination of th e property mortgag< Investigation of the c h a r a c ter and circum stances of the borrow e r. Indorser, o r s u re ty. and th e draw ing, taking the acknow l edgm e n t and filing of necessary papers. It the loau la fifty dollars or leas, such charge shall not be m o re t h a n one dollar. N o such charge shall be m ade on any loan or renew a l thereof o f tener than once tn each period of tw e lve m o nths. No such charge shall be Imposed upon any one borrow e r for any new o r additional loan m ade w ithin three m o n ths a f t e r any euch charge hae been Imposed, nor ahall any charge be Imposed upon any one borrow er for a loan w h ich la to be repaid w ithin lew than one calendar m o n th a f t e r the loan la made, nor Shall any charge of any kind be m ade in addition to Interest on a loan of le * than ten dollars. No charge w h n ta o e v cr shall be m ade unlew or undl a loan shall h a r e been m ade ei the result of such exam ination or Investi gation. ^ . , X No charge other t h a n coats specifical ly prescribed by law to be Included to any Judgm ent shall be m ade against any bor row e r by reason o t the Institution of any action or proceeding to appropriate se curity to the paym e n t o t any loan or qf any action to recover of t h e borrow e r any sum Eent. •S ~ S lK '- '.. I £48. R e e trictlcae on m ethod# e t m aking and paying loana Kvery personal loan com p any shall: L D tihw r to the borrow er, a t the tim e claw m ay open and occupy one i branch office*, provided th a t before any such branch or b r a n c h * ahall be opened o r occupied : L T h e .Superintendent, to hla diecretio sh a ll have given hla w ritten approval such branch or branchee, aa provided to eectkm fifty-one of thla chapter; 1 E v e ry euch corporation desiring te open and occupy a branch office shall have a capital of ten thousand dollars for every branch office established, to addi tion to the capital required by section throe hundred and forty ot this article. E v e ry personal loan com p a n y w h ich m ain tain s a branch office shall keep posted a t all tlznw In a prom inent place to such branch office a copy of Its authorisation certificate certified by the superintendent of banks, together w ith the w ritten ap proval of th e superintendent o f ‘the m a in tenance of euch branch. A n y personal loan com p a n y v itiating the provision* of this section shall forfeit to the people of the sta t e the sum of one thousand dellnss for every w eek during which any branch office s h a ll hereafter be open or occupied In violation of thla sec tion. 1 MX N e t earnings and dividends. Ev ery personal loan compaziy ’m e y pay divi dends on Its capital stock, provided th a t no dividend ahall be declared or paid ex cept u n d e r the following condition# and lim itations: L In determ ining n e t earnings no m o re th a n a reasonable deduction ahall j>e m ade f o r expenses Including salaries t The total dividends declared In any one year shall not am o u n t to m ore th a a tw e lve per centum on the capital stock. W h e n e v e r the net earning# aa determ in ed to this section am o u n t te more than twelve per centum on Ita capital, euch personal loan com p a n y shall comply w ith h 5 ? ' ^ _ a m anats m ade, a statem e n t to th e E n g - X The superintendent shall have dun- . 1 l»H .. hi clear aw l dis- ■ned to tt ' * — “ “ ’ ■* - - peellted In chapter m V. Eve ttn e t terras the am o u n t of the loan, the date of th e loan aed of Its m a turity, the security for the loan, the person to whom the loan Is made, the nem o of th e lender and the am o u n t and ro te of to tem * charged. Upon such statem e n t there alm a be printed in English a copy of thla ■ * - tion and of section three hundred dirt fertf-five of thla article 2 G iro to th e borrow e r a plain a a d com plete receipt for all paym e n ts m ade on ae count of any such loan a t Use th a a euch, paym e n ts are made. X Upon repaym e n t of t h e loan la full am i* todaltbfy-tn th e presence e f rite bor row e r e v e ry p e p * signed by Mm w ttk tfie by a m a rried m an * wom an, n e t legally separated from hla o r her spouse, akall n e t * valid unless accom p a n ied by th e w rit test assent e f hla or her spouse, | MX R e s trictions on place of traheacU W» H 5 & B | L T r a n a a c t or eoilctt bustow e e n d * any other nam e or a t any other office or place th a n th a t designated In th e authorisation oertificate Issued to such company, except aa provided In section three hundred and forty-nine e f thla article, and such eu- tiw rlaatkm certificate ahall be kept posted a t all tir e * In a prom inent place In auch X M a intain an office or place of btad- oew in th e eam e room In w h ic h any other business le tran s a c ted or to a room con necting w ith which any w ithout th e w ritten consent of the su perintendent ef banka which ahall be a t all liras* kept posted w ith euch authoriza tion certificate. , I Mi. B ranch offices and restrictions * thereon; penalty for violating. Any per- io e a l loan com p any located and doing business In a city of th* first or aecond h or opening Into a room to other business la transsift ed. and privileges of feci f thla any order of the superintendent of banka reducing the rates of Interest or charges which m a y be m ade by such personal loan company. • , „ I E l Effect of revocation by superin tendent o f a u thorization certificate, w h e n - the superintendent shall have revok- e authorisation of any such personal loan com p any and ahall have taken th# action to m ake auch r specified to section t* chapter, all th e rights such company, resulting from ceding authorisation, ahall forthw ith cegw and determ ine. './ *• I E t Change of location. Any personal loan com p a n y m a y m ake a w ritten appli cation to the jfiiperlntendent of banks tor leave to change Its principal place of busi ness to another place in the sam e village, borough or etty f If In a city not divided into boroughs The application shall state the reasons for such proposed change and shall be signed and acknowledged by a m a jority o t the board of directors and be accom panied by the w ritten assent th e r e to of stockholders owning a t least tero- thtrds in am o u n t of I ts stock. If the au- pertntendent ahall g r a n t his certificate a u thorising the change of location, a s pro vided in section fifty of this chapter, the personal loan com p a n y m a y . upon or a f ter the day specified to the certificate, re move Its'p ro p e r ty and effects te the loca tion designated thereto, and th e r e a fter Us principal place of business shall be the ocatlon eo specified; end It shall have all m t m „ . ....................................... pawtmeet m e a t be eetoatwefi to d tro e ten an d n e t e l te m teu to a - m u n lee tion directed by th e : _ e f banka or o t * of Me d e w o ii* to a pse- aonal lenn com pany * to an y t barooX rotetlo* to an teeaertg a t * n ^ai eoetsAtfng rocom ra»nda d o n a aa to t n e e e e d e r t e f 1 buetnaas of.,the corporation, ehell * * * - m ltted by- th e oO o e r receiving 1C * l * beard of director* a t t h e next w e t lug el eocb board, and duty noted te U * u t w of t h e m e e tings of such bear*. | til. Personal lean brokers, ape tion oertificate Any etrinjr to eaaaras® In loan brokers shall subscribe and acknow l edge and subm it to the snpertntoadeH t el banks a t Me offloe a certificate te dupli cate w hich shall speclflcapy etate: fV L The full n a m e rafideneo a te office ad d rew of such Indhrideal or of each m em b e r of euch p a r tn e r s h ip * en- lacorporoted association L T h a t the subscriber or eubeolbero a r t applicants for an authorisation eertlficat* to I r a n w e t the bustaeae o f a p w annal tana 3. T h e sta t e or country e f which sac* indhrfihial nam e d In th# certificate le • citizen. „ i,v 4. The am o u n t of petromser-.t capita’ which eucti Individual, partnership e r un Incorporated aaaoctetVoa h a a depoalted I# cash to be Invested and kept perm a n e n tly Invested to auch bust n ew. which. If eaid business is to b* transacted in e city ot the first or second clasq ahall be n o t leer th a n ten thousand dollars and. If r o d business la to be transacted elsew h e re hi the etate. shall he not leea than five thoo- aand dollars. X The p a rticu lar city or Incorporated * unincorporated village In which such busi ness le to be tran s a c ted and th e location by atreet and num b e r of th e office ot place of buslncw Die rein 1 180. Perm a n e n t capital; tocreane or de- 1 c rease thereof. The perm a n e n t capital of every auch personal loan broker ahall b* paid In e ia h and ahall be kept unim p a ired In hla personal loan bust n e w aa epeetfled In t h e verified certificate subm itted to the superintendent In accordance w ith the provisions of section three hundred and fifty-nine of th is a r t i c l e From tim e t# time, with the w ritten approval e f the superintendent and upon good cause shown, auch perm a n e n t capital m a y be In creased or decrea s e d, provided It shall n ot be decreased below tb a a m o u r a ■perlftari in said section. | SO. Conditions precedent to pereoeel loan broker engaging to businero Nc personal loan broker ahall exercise an y ot th# pow e rs conferred by thla article upon personal loan com p a n ie s until h e haa 1. Depoalted In cash the am o u n t ef per- ronnent c a p ital specified In hla verified c e r tificate. aa required by section t h r e e hun dred and sixty of thla article; and L Complied w ith th e requirem e n ts spec ified to subdivisions two and throe of seer tion three hundred and fo r ty - r o e e f th h article. | ML Power*, duties and tta b t it ti * of authorized broker. E v e ry personal loan broker w h o ahall have been duly a u th o r ised by the superintendent o f banks ehaU he entitled to exercise th* pow e rs een- t 88) Books and record*, e v e r y Per- eoute loan com p a n y and pernonal loan broker s h a ll eon/orm Its m ethods of keep- lag Its boa* an d ro e s r d s to such artists to roepeet thereto ae shall have m ade an d pToa.iigaU d by th e suy ----- U n d e n t p u r s u a n t to eectlon teety-ntoe of thla chapter. A n y euch com p any of bro k e r th a t refu te s or neglects to obey any aufafc b e d * shall be subject to * pen a lt y e f eoe hundred dollars t o r se e k day tisat such refuse! o r neglect continues. ffl e v e r y euch com p a n y aud bro k e r ehaU preserve th e records of final e n try used te auch business. Including c a r d s weed In th e card system , fo r a period e f a t least ate y e a rs from the d a te o t m a k ing the eam e or from the d a te of th e la s t entry thereon, u n jw e the rupertntendeot, upon application o f . such com p any ■ M ronchmen ant 1 t; vtoU tions / restriction*:’ n i Me Prohibitions ag a in s t encroeeh m on pow e rs relating to tetoree t; ' S fiR of such prohibitions or e f reetrtcrions ; H penalty therefor. No person or corpora tion except ae authorised by tl^e chapter, ■ban directly o r Indirectly ch a rg e e r re ceive any In te r e s t discount e r ooneldera- Men g r e a t e r t h a n ste p e r cenfum p a r an - ------- - nm n upon the loan, uee or toreeerenoe ot m oney, goods or things lu action of the value of tw o hundred dollars w leea. or upon th* lean, use or sale o< personal credit in any wise. T h e foregoing prohibitions shall apply to any person who. ae security for any euch loan, uee e r fofbearanoe of money, o r t o r any auch loan, uee o r sale of per sonal credit, m a k e s a pretended 'purchase o t property from any person and porml'.e th* ow n e r or pledgor to reta in th* po S r ovide?' com pany un- tlon w h ic h It possessed in Its form e r loca- 1 E3. A n n u a l m eeting of stockholders; notice. The stockholders of every per sonal loan company ahnll bold an annual m eeting for the election o f directors on the second Tuesday In Jan u h ry or srithln ten days thereafter, unless the by-lawa shall tlx some other date w hich m u st, to u iy event, be during the m o n ths of J a n uary or F e b ruary. N o tice, o t such m eet- ng shall be given as required by the ♦lock corporation law. | 164. Q u alifications of director*. A dt- rvetor of a personal loan com p a n y need not be a stockholder of such c less Ita by-law s so provide. ' 1 1 186 O a th e f directors B a c h director, when appointed or elected, shall take an o a * th a t he will, eo far as the duty de volves on him. diligently and honestly ad m inister the siTalrs of th e corporation, and srtU not knowingly violate, or willingly perm it to be violated any of the provt- dons of law appUc-M e to such corpora tion Such oath ahall be subscribed by the director m aking It, and certified by an officer authorised by law to adm inis ter oath s and Im m ediately transm itted to the s u p e rintendent of banks. | 368 T e n u re of office of directors. The e r e c t o r s shall, unlew sooner rem o v e d or JisquaUfled. hold office until the oual m eeting their sucees« auftlified- „ , I E f . Meet t o r i of directors: quorum ; statem e n t to director*. T h e direc tors of ferred upon personal loan rem pe nt* by thle article, and ahall be s u b ject to all the duties, restrictions, liabilities and penal ties Impoeed upon euch eom p a n lw by this arto.le. except t h a t no personal lean brok er ahall tra n s a c t hie buetnew a t any place o th e r th a n th a t sp e d fled In hto a u thorization certificate. I W3-S. D e signation of supertetandant o f b a n * aa atto r n e y for service of proc- ew w h e n required. An Individual w h o M not a resident of thla etate shall not, eith e r by him self or a s a m em b e r of a partnership or unincorporated association, be authorized by the superintendent ot b a n * to tra n s a c t bustoew under th e pro visions o f thla article, unless such hrtlvld- ual ahall have designated the auperlatend- ent o f banks, by a duly ex» uted Instru m ent In w riting, hla tru e and law ful at torney upon whom all procew hi any ac tion o r proceeding by any resident e f this sta t e ag a in s t auch Individual or the p a r t nership or unincorporated aeenctatkm ot w hich h e le a m em b e r m ay be se r ved Wtth the sam e effect aa If euch Individual were a resident of thto sta t e and had been law fully served w ith euch procew w ithin the etate. I 363. T itle to be tak e n In descriptive name. All m o rtgagee, notes, assignm e n ts, agreem e n ts and co n tr a c ts tak e n by any euch personal loan broker tn connection wlth stich personal loam bustoew . shall be taken In the nam e of such broker w tth the addition of th e descriptive nam e “p e r sonal loan broker.\ 1 364. R e striction* on profit* of personal loan broker. No personal tens broker ahall In any y e a f w ithdraw or tak a o u t of ng to more th a n tw e lve a:or°a of hla perm a n e n t reasons*!* de- capital a f t e r allow ing duction fo r expenses and salaries. Includ ing th e personal aerricea of such broker. W h e n e v e r hto profits during th* preceding calendar year, lew such deduction, shall have exceeded th a t am o u n t, euch broker shall comply with any order of th e su perintendent of b a n * reducing fb* rhtee of Interest or charge* w h ich m ay be m ade by such broker. | ■ ■ | 59 R e p o rts to superintendent; penalty for failure to maki- On o r before th e first day of F e b r u a r y tn each year, personal loan com p a n y and every | al loan broker shall m a * a w ritten re td office until the next an- of stockholders, and until ra are elected and have company shall hold regular meetings aa provided In the by- every personal loan my al in laws. One of th e ir num b er, to be choeen by the board, shall be the president of the board. If the num b e r of directors nreessery to constitute a quorum to not prescribed in the certificate of tn c o rpora tion or organisation certificate, or to th e by-lawa. aad ne provision Is m ade therein for determ ining the sam e , th e directors m ay fix euch num b er, which shall not be less t h a n two, w ttk the aame effect aa If swob num b e r war* prescribed tn tk a cer tificate o f Incorporation e r erfianlxation certificate. Th* treasu r e r or m a n a g e r elttUl prspfiro and subm it to th* <11 r a s ters a t each regular m eeting of th e board, er ' to a a executive coram lttw of nr-t lew than throe m em b e rs e t euch board a l least to u r tim w a year, a w ritten statem e n t show ing th* to tal am o u n t and num b e r e f leans the classes of e e c u r itlw t a k e n th e re fer, the interest charged, the e n r a g e e f lesas and s e y v ; T \ I , * | 0 1 W h a t the state W hen appltaattert te r S r i g t e t h t o port to the- superintendent of b a n * which shall contain a statem e n t ot CO adit to o eo the m o rning ot th# first day of January In such year and shall be in th e form and contain the raattcra prescribed by the superintendent. i \ffl | Every euch report shall be verified by the oaths of the president or Vice-presi dent and secretary or treasurer e f euch company or. by auch personal lean broker. The verification shall state that the report la true and cerrect In all respects te tke beet of the knowledge and belief of th# person or persons verifying tt, aed that the usual business ot th# corporatise .or broker haa been transacted at the Idea tion required by thla article an d se t atw- Rvery auch corporation at 1 ,broker shall also make any other special report* to the superintendent which he m a r from time to time require, which shall be to eueh form and filed at such date aa may be prescribed by the superintendent and shall. If required by him, be verified le auch manner ax * may prescribe E v e ry such corporation, w ithin ten days - after declaring a dividend, shall snake written report to th e eoperaiteedeat rtgt-3 tog th e am o u n t qf such d tvtdeni and the : amount of Its net earnings Id exceea thereof. Such r—port shell * the oath of the president, er troartdrw e f the corporation If any uuch corporation cr broker shall ■ ■ -r J Call to make aay report -squired by thto s , » , . <g New York. Office of tbs Buiratecy w e tion on or * to r . the d ^ d n t i p a t e d „ w . l 1 h* v<' compered th# preceding with til# .. v < , k 1 original tew on fils in this office, and do ■xsEvrourou It shad f ^ r - t t o the hw1||,y -hat th* aame to a correct “ \ . A 'Z S ’Z & S Z ? ' * •* « K n o o . A*y 08£H em ittai ni**ts?# thereof, or who, by any device pretense ot charging for hla torvlcw or otherwise, seek* to obtain a larger com pensation than la authorised by thla ar ticle. A n y person, and the etrveral officers and employees of any corporation, w h o ahall violate the foregoing prohibitions shall be guilty of a misdemeanor, and upon proof of such fact the debt ahall * dleriuu*. i and the security ahall be void. But thla eectlon ahall not apply to licensed pawn brokers, making loans upon the actual and permanent deposit of personal prop erty as security; nor shall thto section affect to any way th* Validity or legafity ot any loan of money or credit exceeding two hundred dollars In amount. Any personal loan broker and any offi cer or employee of a personal loan com- panv who ahall violate aay ot the pro visions of section three hundred and for ty-five ot thto chapter ahall be guilty of a misdemeanor and upon proof of euch tact th* debt ahall be discharged and the security shall be void. | MB Penalty tor unlawfully engaging hi personal loan bustnees N o person or corporation ahall. except aa authorised by thla chapter, make any loam ot two « hundred dollars or lata, or become en dorser upon or guarantor of or surety for any auch lean for which lean, an- doreemxnt or guarantee any charge, In terest, discount or consideration to made er taken tn exotoe of six per centum per annum. No individual, partnership, unin corporated eaeoclation or corporation shall, directly or Indirectly, engage or offer to engage to negotiating or arrang- . tog any tranaact ion herein prohibited, or to aiding the borrower o f the lender either to procure er to make any such loana. A violation o f M y of the provlalona o f title eectlon shell be a misdemeanor, Whether ot not auch loans are actually made. Any person or corporation purchasing or discounting such notes er loan# of two hundred dollars or leea, or endorsing, guaranteeing or becoming surety for the payment ot any auch note* or loans for compensation or for value of any kind, or furnishing security therefor or procuring any endorser, guarantor or surety there for. for compensation or value of any kind, without having been first author- toed eo to do under the provisions of thla ■ chapter, shall be presumed to have vio lated the provisions of thla section. | fix Offender a competent wltneea Any person offending against any provi sion of this article la a competent wit- new against any other person so offend ing, and may be compelled to attend and testily upon any trial, bearing or pro- Inveetlgallon. In the aame any other pereoty But the teeumony eo given ahall not be used In any prosecution or proceeding, civil or criminal, against the person eo testifying. A person so testifying to tbs violation of any of the provlalona of thla articla, shall . not thereafter be liable to Indictment, prosecution, er punishment for seek vio lation. and may plead or prove the giving of testimony accordingly. In bar of such an Indictment er prosecution. | 111. Penalty for publishing statem ents calculated to deceive No personal loan company or personal loan broker or other person or corporation shall print publish or distribute or cause to be printed, pub lished er distributed to any manner what soever. any written er printed statem ent with regard to the rates, term s or condi tions tor the lending of money, credit, geode or things In action, to amount* of two hundred dollars er lew , which 1* faiw or calculated to deceive Any per son partnership or corporation violating the provision* of this eectlon ahall be guilty e f * misdemeanor 1 m Evidence of violation- Evlfiante ef e violation of any provtotan of thto arti cle by an officer, agent or employe# ahall b# prtsm facle evidence of auch violation by hi* principal Evidence e f a Tl*la tino of aay pro stolon of thto article by a mem bee of a partnership shall * prime facto evidence of such violation by each mem ber of the partnership. K vide nos e f a violation Of' a ny provision of thto article by a director, trusts*, effieer, agent er •m p torw of a corporation ahall * prim s facie gridoocs e f such rtototion hr gtefc - 1 Stats. W he ten, or t o r th* purchase or aal# of a note, e r w h e n a pow e r of atto r n e y to m a * aj ioao, to marts, or- etgned by a n y paean*, \ \te partnership e r c o r p o r a te * state and t * m o n ey te ad os th* eodev*em*r.t or g u a r a a t w j T furnished, or tb s note » e r - tuesed by any person, am o c tetioe. fiffite nerehlp or corporation | w ithout thla state; th e transaction shall be deem ed t e * a loan mad* within thto state, a i r t sock ioea and th e p a rttw m a k ing It, e r ta k ing such application or power of attorney, .h a l l foo s u b ject to the provtolone e f thto! articla. This section shall not a/Toet to any w a y th e validity or legality 08 ! any loon of money o r credit a hundred dollars In am o u n t # 3. C h a p ter five hundred b r i o f th# law* of nineteen hundred ■ teen te hereby repealed. | A Thle act ahall take atsty. sad iKgtri I rad wed firar- ftw the making thereof. Include therein
