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the amount originally advanced, with legal interest thereon ; nor shall the imposition of fines for the non-payment of dues or fees, or other violation of the articles of association, nor shall the making of any monthly payment required by the articles of association, or of any premium for loans made to members be deemed a violation of the provis
ions of any statute against usury: To make 8 2. Every corporation organized under the provisions of said act, annual
every corporation heretofore organized under the laws of this State for purposes similar to those provided for in said act, shall annually make a full report in writing of the affairs and condition of such corporation, on the first day of January in each year, to the Superintendent of the Banking Department, in such form, and by such officers of the said corporation, as the said Superintendent may designate, which report shall be in place of any report which any such corporation may now be required to make to the Supreme Court, the Comptroller, or otherwise. Such report shall be verified by the oath or affirmation of the officers making such report; and any willful false swearing in regard to such report shall be deemed perjury, and be subject to the prosecutions and punishments prescribed by law for that offense. Every such report shall be made within twenty days after the day to which it relates, and shall be in such form, and contain such statements, returns and information, as to the affairs, business, condition, obligations and resources of such corporation as the said Superintendent may, from time to time, prescribe and require. And the said Superintendent may, if he be of opinion that it is desirable, require that a like report, either wholly or in part, as, to the particulars aforesaid, be made to him at any time, by any such corporation aforesaid, within such period as he may designate.
$ 3. It shall be the duty of the said Superintendent, once in two years,
either personally or by some competent person or persons, to be 1878, Ch.96. appointed by him, to visit and examine every corporation required by Power of this act, to report as aforesaid. The said Superintendent and every examiner. such examiner shall have power to administer an oath to any person
whose testimony may be required on any such examination, and to compel the appearance and attendance of any such person, for the purpose of such examination, by summons, subpæna or attachment, in the manner now authorized in respect to the attendance of persons as witnesses in the courts of record of this State; and all books and papers which it may be deemed necessary to examine by the Superintendent,
or the examiner or examiners so appointed, shall be produced, and Expense their production may be compelled in the like manner. The expense of examination. of every such examination shall be paid by the corporation examined to
such amount as the Superintendent shall determíne. Whenever such examination shall be made by the Superintendent personally, or by one or more of the regular clerks in his department, no charge shall be made on such examination but for necessary traveling and other
actual expenses. Nature of § 4. On every such examination inquiry shall be made as to the conexamina
dition and resources of the corporation generally, the mode of conducting and managing its affairs, the action of its directors or trustees, the investment of its funds, the safety and prudence of its management, the security afforded to those by whom its engagements are held, whether the requirements of its charter and of law have been complied with in
the administration of its affairs. When 8 5. If it shall appear to the said Superintendent from the report of be violat- any such corporation, or from any examination made by him, or from
the report on any examination made to him, that any corporation has ing char committed a violation
of its charter or of law, or is conducting busi- ter. ness in an unsafe or unauthorized manner, he shall by an order under his hand and seal of office, addressed to such corporation, direct the discontinuance of such illegal or unsafe practices and conformity with the requirements of its charter and of law, and with safety and security in its transactions, and whenever any corporation shall refuse or negiect to make such report as is hereinbefore required, or to comply with any such order as aforesaid ; or whenever it shall appear to the said ProceedSuperintendent, tirat it is unsafe or inexpedient for any corporation to entero y continue to transact business, he shall communicate the facts to the General. Attorney-General, who shall thereupon be authorized to institute such proceeding against any such corporations as are now, or may hereafter be provided for by law in the case of insolvent corporations, or such other proceedings as the nature of the case may require.
$ 6. If any such corporation shall fail to furnish to the Superintend- Penalty ent of the Banking Department any report or statement required by this to report. act, at the time so required, it shall forfeit the sum of ten dollars per day for every day such report or statement shall be so delayed or withheld, 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 and be applied to the expenses of the Bank Department.
87. This act shall take effect immediately.
CHAP 567. AN ACT to amend chapter five hundred and fifty-five of the laws Public in
. of eighteen hundred and sixty-four, entitled "An act to revise and consolidate the general acts relating to public instruction.”
PASSED June 9, 1875; three-fifths being present. The People of the State of New York, represented in Senate and Assembly, do enact as follows :
SECTION 1. Section four of title one of chapter five hundred and Amending fifty-five of the laws of eighteen hundred and sixty-four, entitled “ An Llawesis act to revise and consolidate the general acts relating to public instruc- 6 Edm.304. tion,” is hereby amended so as to read as follows:
§ 4. His salary shall be five thousand dollars a year, payable quar- Salary of terly, by the Treasurer, on the warrant of the Comptroller.
tendent. $ 2. Section five of title one of. said act is hereby amended so as to read as follows:
8 5. He may appoint as many clerks as he may deem necessary, but May the compensation of such clerks shall not exceed in the aggregate the suni
clerks, of nine thousand dollars in any one year, and shall be payable monthly vol. 6, p. hy the Treasurer, on the warrant of the Comptroller, and the certificate of the Superintendent.
$ 3. Section seven of title one is hereby amended so as to read as follows:
§ 7. The Superintendent shall be ex-officio a trustee of Cornell Uni- Ex-officio versity and of the New York State Asylum for Idiots, and a Regent of the University of the State of New York. He shall also have general supervision over the State normal schools at Brockport, Buffald,
Cortland, Fredonia, Geneseo, Oswego and Potsdam, and over any other State normal schools which may hereafter be established ; and he shall provide for the education of the Indian children of the State, as required by chapter seventy-one of the laws of eighteen hundred and
fifty-six. Vol. 6, p. $ 4. Section nine of title one of said act is hereby amended so as to
read as follows: Power as $ 9. All deaf and dumb persons resident in this State, between the to indigent pupils.
ages of twelve and twenty-five years, whose parent or parents, or, if an orphan, whose nearest friend shall have been resident in this State for three years immediately preceding the application, shall be eligible to appointment as State pupils, in one of the deaf and dumb institutions of this State, authorized by law to receive such pupils; and all blind persons of suitable age and similar qualifications, shall be eligible to appointment to the institutions for the blind in the city of New York, or in the village of Batavia, as follows: All such as are residents of the counties of New York, Kings, Queens, Suffolk and Richmond, shall be sent to the institution for the blind in the city of New York; those who reside in other counties of the State, shall be sent to the institution for the blind in the village of Batavia. All such appointments, with the exception of those to the institution for the blind in the village of Batavia, shall be made by the Superintendent of Public Instruction upon application, and in those cases in which, in his opinion, the parents or guardians of the applicants are able to bear a portion of the expense, he may impose conditions whereby some proportionate share of the expense of educating and clothing such pupils shall be paid by their parents, guardians or friends, in such manner and at such times as the Superintendent shall designate, which conditions he may modify from time to time, if he shall deem it expedient to do so.
8 5. Section fifteen of title one of said act is hereby amended so as
to read as follows: Certif- $ 15. He may grant, under his hand and seal of office, a certificate
of qualification to teach, and may revoke the same. While unrevoked, such certificate shall be conclusive evidence that the person to whom it was granted is qualified by moral character, learning and ability, to teach any common school in the State. Such certificate may be granted to him only upon examination. He shall determine the manner in which such examination shall be conducted, and may designate proper persons to conduct the same, and report the result to him. He
may also appoint times and places for holding such examinations, at License to least once in each year, and cause due notice thereof to be given. He teach.
may also issue temporary licenses to teach, limited to any school commissioner district or school district, and for a period not exceeding six months, whenever, in his judgment, it may be necessary or expedient for him to do so.
8 6. Section eight of title two of said act is hereby amended so as to
read as follows: Salary of $ 8. Whenever a majority of the supervisors from all the towns comschool
posing a school commissioner district shall adopt a resolution to increase the salary of their school commissioner, beyond the eight hundred dollars payable to him from the United States deposit fund, it shall be the duty of the board of supervisors of the county to give effect to such resolution, and they shall assess the increase stated therein upon the towns composing such commissioner district, rata
cates to teachers.
ble, according to the corrected valuations of the real and personal estate of such towns.
§ 7. Subdivision one of section thirteen of title two of said act is Vol. 6, hereby amended so as to read as follows:
1. From time to time to inquire and ascertain whether the boundaries To define of the school districts within his district are definitely and plainly boundadescribed in the records of the proper town clerks; and in case the record districts. of the boundaries of any school district shall be found defective or indefinite, or if the same shall be in dispute, then to cause the same to be amended, or an amended record of the boundaries to be made. All Decessary expenses incurred in establishing such amended records, shall be a charge upon the district or districts affected, to be audited and allowed by the trustee or trustees thereof, upon the certificate of the school commissioner.
$ 8. Section three of title three of said act is hereby amended so as Vol. 6, to read as follows:
$ 3. The moneys so raised shall be paid into the State Treasury, and the Treasurer may transfer them from one depository to another, by should be bis draft, countersigned and entered by the Superintendent of Public Bande into Instruction. On the first working day of each month the Treasurer treasurv. shall make to the Superintendent of Public Instruction a written statement of the condition of the free school fund, showing the amount received and paid during the preceding month, and the balance remaining on hand. The bank in which such moneys are deposited shall furnish the Superintendent of Public Instruction a book, in which the officers of such bank shall make entries of all sums deposited therein by the Treasurer, from time to time, to the credit of said free school fund. No such money shall be paid out of the treasury except upon such warrant of the Superintendent, countersigned by the Comptroller, referring to the law under which it is drawn. The Superintendent shall countersign and enter all checks drawn by the Treasurer in payment of his warrants, and all receipts of the Treasurer for such money paid to the Treasurer, and no such receipt shall be evidence of pay- Vol. 6, ment unless it be so countersigned.
$ 9. Section six of title three of said act is hereby amended so as to Apportionread as follows :
$ 6. He shall apportion and set apart from the income of the United commis-, States deposit fund so appropriated, the amounts required to pay the annual salaries of the school commissioners elected or elective under this act, to be drawn out of the treasury and paid to the several commissioners, as herein before provided ; and he shall also apportion to each of the cities of the State, which, under a special act, employs a Tor city superintendent of common schools, or a clerk of the board of educa- superintion, who does the duty of supervision, out of the income of the said fund, and if insufficient the deficiency out of the free school fund, so
Amended appropriated, the sum of eight hundred dollars, and in case any city 374, post, p. is entitled to more than one Member of Assembly according to the 221. unit of representation adopted by the Legislature, five hundred dollars for each additional Member of Assembly, to be expended according to law, for the support of the common schools of the city. He shall
Library then set apart, from the income of the United States deposit fund, for moneys. and as library moneys, such sum as the Legislature shall appropriate for that purpose. He shall also set apart from the free school fund a Continsum not exceeding four thousand dollars for a contingent fund. He gent fund shall then set apart and apportion, for and on account of the Indian Indian schools under his supervision, a sum which will be equitably equiva- schools.
lent to their proportion of the State school money, upon the basis of distribution established by this act, such sum to be wholly payable out of the proceeds of the State tax for the support of common schools. After deducting the said amounts, he shall divide the remainder of the State school moneys into two parts, one to be one-third and the other to be two-thirds of such remainder, and shall apportion them as here
inafter specified. Vol. 6, § 10. Section fourteen of title three of said act is hereby amended
so as to read as follows: Moneys § 14. The moneys so annually apportioned by the Superintendent payable.
shall be payable on the first day of April next after the apportionment, to the treasurers of the several counties and the chamberlain of the city of New York, respectively; and the said treasurers and the chamberlain shall apply for and receive the same as soon as payable.
$ 11. Section thirty-one of title three of said act is hereby amended
so as to read as follows: Supervis- $ 31. Immediately on receiving the commissioners' certificate of ors to give apportionment, the county treasurer shall require of each supervisor, .
and each supervisor shall give to the treasurer, in behalf of the town, his bond, with two or more sufficient sureties, approved by the treasurer, in the penalty of at least double the amount of the school moneys set apart or apportioned to the town, and of any such moneys unaccounted for by his predecessor, conditioned for the faithful disbursement, safe-keeping and accounting for such moneys, and of all other school moneys, that may come into his hands from any other source. If the condition shall be broken, the county treasurer shall sue the bond in his own name, in behalf of the town, and the money recovered shall be paid over to the successor of the supervisor in default, such successor having first given security as aforesaid. Whenever the office of a supervisor shall become vacant, by reason of the expiration of his term of service or otherwise, the county treasurer shall require the person elected or appointed to fill such vacancy to execute a bond, with two or more sureties, to be approved by the treasurer, in the penalty of at least double the sum of the school moneys remaining in the hands of the old supervisor, when the office became vacant, conditioned for the faithful disbursement, safe-keeping and accounting for such moneys. But the execution of this bond shall non relieve the supervisor from the duty of executing the bond first above
mentioned. Vol. 6, § 12. Subdivision one of section six of title four of said act is
hereby amended so as to read as follows: To pay
1. To disburse the school moneys in his hands, applicable to the payteacher.
ment of teachers' wages, upon and only upon the written orders of a sole trustee, or a majority of the trustees, in favor of qualified teachers, or upon the order of the trustee of a separate neighborhood in favor of any teacher of a school in an adjoining State, recognized by him and patronized by the inhabitants of such neighborhood. Such teacher shall be deemed a qualified teacher.
8 13. Subdivision two of section six of title four of said act is
hereby amended so as to read as follows: Library 2. Yo disburse the library moneys upon, and only upon, the written
orders of a sole trustee, or of a majority of the trustees. Vol. 6, 8 14. Section nine of title six of said act is hereby amended so as to
read as follows: Supervis
$ 9. When a district is parted into portions, which are annexed to property other districts, its property shall be sold by the supervisor of the town,
ors to sell