Annual Report of the Board of Bank Commissioners of the State of New Hampshire to His Excellency the Governor, Volume 55

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Page 25 - Legislature, on or before the day of , the names and compensation of his clerks ; the receipts and expenses of his department for the year; his official acts; the condition of companies doing business in this State ; and such other information as will exhibit the affairs of his department.
Page xix - ... interest, premiums, fines, and profits arising from the business, to those of its shareholders who will pay the highest premium for such loans above the legal rate of interest, and will give satisfactory security for the payment thereof, including a pledge of shares of the capital stock of the corporation of the same amount as the loan. If it is unable to loan all its money to shareholders, it may loan it to others at a rate of interest not exceeding the lawful rate, upon mortgages of improved...
Page xviii - SECT. 8. Any such corporation may collect of its shareholders monthly dues of one dollar upon each share held by them until the ultimate value of the shares reaches two hundred dollars each, or they are withdrawn, cancelled, or forfeited : and shall loan the money so collected, together with the interest, premiums, fines, and profits arising from the business, to those of its shareholders who will pay the highest premium for such loans above the legal rate of interest, and will give satisfactory...
Page xii - October, an excise tax for the privilege of conducting the business of a savings bank or other such corporation equal in amount to three-fourths of one per cent upon the amount of the savings deposits on which it pays interest after deducting the value of all its real estate wherever situated and the value of all its loans secured by mortgage upon real estate situated in this state made at a rate not exceeding five per cent per annum...
Page 27 - That any life insurance company not desiring to engage in the business of writing life insurance in this State, but desiring to loan its funds in this State, may obtain a permit to do so by complying with the laws of this State relating to foreign corporations engaged in loaning money in this State without being required to secure a certificate of authority to write life insurance in this State.
Page xviii - ... ultimate value of the shares reaches two hundred dollars each, or they are withdrawn, cancelled, or forfeited : and shall loan the money so collected, together with the interest, premiums, fines, and profits arising from the business, to those of its shareholders who will pay the highest premium for such loans above the legal rate of interest, and will give satisfactory security for the payment thereof, including a pledge of shares of the capital stock of the corporation of the same amount as...
Page 37 - ... company should not attempt to do so. The powers and duties of the executive committee should be limited and clearly defined in the by-laws, and in such a way as to leave the actual management of the company in the hands of the directors and not with the committee. The bylaws can be amended only by members of the company and cannot be lawfully amended by the directors only. (Opinion of Attorney General, September 19, 1913.) (4) The by-laws of a mutual fire insurance comjMiny having reference to...
Page 25 - Apt. 4493, Subdivision 15.) Shall Report Annually to Governor. 25. (16) He shall report annually to the Governor the names and compensations of his clerks, the receipts and expenses of his department for the year, his official acts, the conditions of companies doing business in this State, and such other information as will exhibit the affairs of said department.
Page 37 - Such an association which collects a specified amount under the name of "admission fees" must divide such admission fee in the same proportion, and the admission fee cannot lawfully be deducted from the dues or assessments and used for expenses only, but must be divided in the same proportion as other assessments, 60 per cent to be used for paying losses and only 40 per cent for...
Page xv - ... it will never be assumed that the government intended to release any part of the property entitled to its protection from the burden incident to such protection, and it is the duty of those who assert that claim to show it in language which can admit of no other conclusion: and where doubt arises as to the meaning of the language used which it is claimed confers the exemption, it will be construed most strongly against those who maintain the exemption.

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