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LAW8 RELATING TO
THE EMPLOYMENT OF LABOR AND AFFECTING
A Supplement to an act entitled "An act providing for the establishment of
schools for industrial education," approved March twenty-fourth, one thousand eight hundred and eighty-one, and making the trustees of such schools a body corporate, and giving them power to lease and purchase real and personal property, to sell and mortgage the same, and to accept and receive
donations and bequests of money and property. 1. That the board of trustees of schools for industrial education, provided for and organized under the act to which this is a supplement, be and they are hereby created a body corporate under the name and style of the board of trustees of schools for industrial education,” with the right of perpetual succession, to sue and be sued, to purchase, lease and hold personal and real property, and to sell and mortgage the same, and with power to accept donation and bequests of money and property to be used for the purposes for which the said boards are constituted and organized.
2. That this act shall take effect immediately. Approved March 3d, 1890.
• For the labor legislation of previous years, see the eighth (1885) and subsequent Bureau reports.
An Act relative to fire escapes.
1. That all buildings now or hereafter erected in which twenty or more persons live or congregate or are employed, temporarily or otherwise, a bove the first or ground floor thereof, shall have one or more, as the proper authority shall direct, external wrought iron fire escapes, of such dimensions and character and subject to such regulation and construction as the said proper authority shall designate.
2. That in all incorporated municipalities the board of aldermen, city council or borough commissioners shall provide for the enforcement of the provisions of this act by ordinance.
3. That in all sections outside of incorporated municipali'es township committees shall have power to enforce the provisions of this act.
4. That this act shall take effect immediately. Approved March 24, 1890.
An Act to authorize common councils of cities to appropriate moneys to estab
lish or aid public libraries and free reading rooms. 1. That it shall be lawful for the common council of any city of this State to appropriate, from any moneys not o herwise appropriated, such sum of money, not exceeding one thousand dollars, as may in their judgment be deemed neces sary to establish or aid public libraries and free reading rooms.
2. That this act shall take effect immediately. Approved April 2d, 1890.
An Act relative to banking, savings, trust, guarantee, safe deposit, indemnity,
mortgage, investment, loan and building corporations. 1. That every banking, savings, trust, guarantee, safe deposit, indemnity, mort. gage, investment, loan and building corporation or association organized under the laws of other states or foreign governments, on application for authority to transact business in this state, shall file in the department of State a duly authenticated copy of its charter or certificate of organization or incorporation, and a report of its condition at the close of business on the thirty-first day of December last preceding, in such form as may be prescribed by the board of bank commissioners, constituted by "An act concerning savings banks,” approved April twenty-first, one thousand eight hundred and seventy-six, which shall be verified by the affidavits of the president or vice-president and the treasurer or cashier or secretary of such corporation, and it shall be the duty of the Secretary of State to furnish blank forms for the report required, and the said board shall call for like reports at such other times as may seem to them expedient.
2. That if it shall appear by the report aforesaid that such corporation is possessed of an actually paid in, well invested and unimpaired capital stock of at least one hundred thousand dollars, it may be admitted to transact business in this State upon a certificate of authority to be issued by the Secretary of State, under the direction of the said board, which certificate shall only be issued when such corporation shall have complied with the further requirements of this act.
3. That the bank commissioners, before directing the issue of the certificate of authority as aforesaid, shall require every such corporation to deposit with the secretary of state such securities as they may prescribe, amounting to at least thirty thousand dollars, which securities shall be held by the secretary of state in trust, for the benefit of the creditors of such corporation within this state, and the bank commissioners shall have authority to order a change of such securities or any part thereof at any time, and no change or transfer of the same shall be made without their assent; such deposit shall be maintained intact in the full sum of thirty thousand dollars at all times, but the corporation shall be at liberty to receive the dividends or interest on the securities deposited ; provided, that if any such corpo, ation shall have and keep a deposit of at least one hundred thousand dollars with any department or officer of the State where organized, it may be admitted to the State without making the deposit herein required.
4. That every such corporation shall file a like report in January, annually, and if such corporation shall fail to file such annual report prior to the fifteenth day of February, or to furnish such additional reports or information as may be called for by the bank commissioners, within five days after notice to do so, it shall be liable in a penalty of two hundred and fifty dollars and costs of action, to be sued for and collected in the name and for the benefit of the State.
5. That every such corporation shall pay for filing a certified copy of its cl arter or certificate of organization or incorporation, twenty dollars ; for filing original and annual reports, twenty dollars ; for certificate of authority, annually, two hundred and fifty dollars ; for certificate for each agency, five dollars, and shall defray all expenses incurred in making any examination of its affairs as herein provided for; and the bank commissioners may maintain an action, in the name of the State, against such corporation, for the recovery of such expenses, in any court of competent jurisdiction.
6. That if any such corporation or association itself, or by agents, attorneys, solicitors, surveyors, canvassers, collectors or other representatives of whatever designation, or any agent, attorney, solicitor, surveyor, canvasser, collector or other representative, or any individual or firm, whether on behalf of such corporation cr not, shall solicit, negotiate or in anywise transact any business in this State, except in the enforcement of contracts by legal process, without having complied with the requirements of this act, they shall be liable in a penalty of two hundred and fifty dollars and all costs of suit, to be sued for and collected on complaint, in the name and for the benefit of the State, by the bank commissioners; the first process against any corporation or person complained of may