Commencement of business Deposit of bond Powers granted in respect of Mennonites only Investments Protection of property Report to Number of directors may be increased enable the corporation to accept such appointment and trust. 11. The corporation shall not begin business until so authorised by an order of the Lieutenant Governor in Council. 12. Before such order is made the corporation shall deposit with the registrar of the court of king's bench at Regina one or more bonds totalling twenty-five thousand dollars ($25,000) in such form as may be approved by the Lieutenant Governor in Council, as security for the due performance of the duties and obligations arising from the exercise of the powers hereby conferred and the Lieutenant Governor in Council shall have power from time to time to demand further security. 13. The power and privileges hereby granted shall be exercised only with respect to the property and estates of persons who are or have been members of and adherents to those communities of Mennonites named in the preamble hereto excepting that it may act as agent for the purpose of investment on behalf of any person in the business of the corporaion. 14. Unless specifically authorised to the contrary by the investor in writing, the Waisenamt shall not have power to invest moneys which come into its hands otherwise than in such securities as are authorised by The Trustee Act. 15. The Waisenamt shall have power to advance moneys to protect any estate, trust or property intrusted to it, and to charge lawful interest for any such advance. 16. The said Herbert Union Waisenamt shall from time to time make reports to the Lieutenant Governor in Council in such manner and containing such information as may be required by Order in Council. 17. The directors shall have power to enlarge the number of the advisory committee and directors by bylaw permitting the conference of ministers and members of any Mennonite community not above named, to appoint a member of the advisory committee and a director respectively, as provided in section seven (7), subject to the approval of such bylaw by the Lieutenant Governor in Council. CHAPTER 96 An Act to incorporate the Saskatchewan Automobile W League. [Assented to February 4, 1920.] HEREAS certain persons are now and have been Preamble for some time past associated together in the Province of Saskatchewan under the name of the Saskatchewan Provincial Automobile League for the purposes of furthering the interests of motorists, assisting the good roads movement throughout the Province of Saskatchewan, posting signs and marking touring routes, encouraging the careful observance by motorists of all motor vehicle and traffic laws, rules and regulations from time to time in force in the province, co-operating with other associations having similar objects and promoting social intercourse among its members; And whereas the persons hereinafter named have by their petition prayed that the said association may be vested with corporate powers to better enable them to carry out the said objects, and it is expedient to grant the prayer of the said petition: Therefore His Majesty, by and with the advice and consent of the Legislative Assembly of Saskatchewan, enacts as follows: 1. L. G. Calder, of Saskatoon; W. Henderson, L. T. Incorporation McDonald, J. F. Bole, all of Regina; G. K. McEwen, of Swift Current; W. J. Hyde, of Balgonie; A. A. Symons, of Saskatoon; F. G. King, of Yorkton; E. W. Williamson, of Indian Head; Frank D. Moffet, of Weyburn; T. H. Robertson, of Kisbey; Richard Loney, of Moose Jaw; A. J. McNabb, of Cadillac; Matthew Loran, of Allan; W. J. M. Wright, of Regina, and A. L. Moffatt, of Hawarden, all in the Province of Saskatchewan, and such other persons as are now members of the said association in good standing or shall hereafter become members, are hereby declared a body corporate and politic in law and in fact by the name "Saskatchewan Automobile Name League" for the purposes and objects aforesaid. 2. The said corporation shall have power from time Corporate to time and at all times to purchase, acquire, hold, powers possess and enjoy, and to have, take and receive to it and its successors, any lands, hereditaments, premises Bylaws etc., continued in force Present property vested in corporation Borrowing powers Who to sign documents and real and immovable property and estate, not exceeding at any one time the value of twenty-five thousand dollars, and every kind of personal property, and the same to sell, alienate, mortgage, pledge, lease, exchange and otherwise dispose of whensoever the said corporation may deem it proper so to do. 3. The constitution, bylaws, rules and regulations now in force touching the admission and expulsion of members and the management and conduct generally of the affairs and concerns of the said league, in so far as they may not be inconsistent with the laws in force in this province, shall be the constitution, bylaws, rules and regulations of the said corporation: Provided always that the said corporation may from time to time alter, repeal and change such constitution, bylaws, rules and regulations in the manner provided by the constitution, bylaws, rules and regulations of the said corporation. 4. All property, effects and assets now held by the said league, or vested in trust for the said corporation, are hereby vested in the said corporation subject to any liens, charges or incumbrances affecting the same and shall be applied solely for the use and maintenance of the said corporation; and the corporation shall be responsible for and shall discharge all liabilities, debts, duties and obligations of the league existing at the date of the passing of this Act. 5. The said corporation may from time to time. borrow money not to exceed in the whole at any one time the sum of twenty-five thousand dollars, at such rate of interest and upon such terms as they may think proper, and for such purpose may execute or issue any mortgages, bonds, debentures or other instruments under the seal of the said corporation, which shall operate as a mortgage and charge against the lands and effects of the said corporation: Provided always that the consent of the majority of the members present at a special meeting duly called for the purpose and voting in person shall be first had and obtained for the issuing of bonds and debentures, or the pledging or mortgaging of the property, assets or income of the said corporation. 6. Any such mortgage, bond, debenture or other instrument shall be signed by the president of the said corporation and countersigned by the secretary, or such persons as may be designated by the constitution, hylaws, rules or regulations of the said corporation. and agencies 7. The corporation shall have power to establish Branches agencies and branches in Saskatchewan and to regulate and discontinue the same. 8. The corporation shall at all times when called Return upon so to do by the Lieutenant Governor in Counci! tender an account in writing of its property and affairs. provision 9. Nothing in this Act shall be construed as authorising Saving the corporation to interfere with the powers now or hereafter vested in any municipal council in the province. |