Page images
PDF
EPUB

by said bank for the aforesaid purposes exceeding in the aggregate the sum of one hundred and fifty thousand dollars. SECTION 2. This act shall take effect upon its passage.

Approved February 25, 1926.

Chap. 48 AN ACT RELATIVE TO THE PUBLICATION OF INFORMATION

CONCERNING THE FINANCES OF THE CITY OF GLOUCESTER.

Be it enacted, etc., as follows: 1908, 611, $ 11, Chapter six hundred and eleven of the acts of nineteen amended.

hundred and eight is hereby amended by striking out section Finances of eleven and inserting in place thereof the following: - Seccity of Gloucester,

tion 11. The municipal council shall at the end of each examination, municipal year cause a full and complete examination of all publication of information,

books and accounts of the city to be made by competent eto. accountants, and shall publish the result of such examination.

Approved February 25, 1926.

Chap. 49 An Act PLACING UNDER CIVIL SERVICE THE CLERICAL EM

PLOYEE OF THE BOARD OF SELECTMEN OF THE TOWN OF
METHUEN.

Clerical employee of selectmen of Methuen placed under civil service.

Be it enacted, etc., as follows:

SECTION 1. The provisions of chapter thirty-one of the General Laws, and the rules and regulations made thereunder, shall hereafter apply to Albert Slack, the clerical employee of the board of selectmen of the town of Methuen, but without requiring him to take an examination.

SECTION 2. This act shall take effect upon its acceptance by said board of selectmen at any time during the current year.

Approved February 25, 1926.

Submission to selectmen, etc.

fish in certain waters of

Chap. 50 An Act TO PROTECT FISH IN CERTAIN WATERS OF MENEMSHA

AND NASHAQUITSA PONDS IN THE TOWN OF CHILMARK.

Be it enacted, etc., as follows: Protection of SECTION 1. No person shall engage in beam-trawling or

otter-trawling in the waters of Menemsha pond or of NashaMenemsha and Nashaquitsa

quitsa pond which lie within the town of Chilmark without ponds in town first securing a permit therefor from the selectmen of said of Chilmark.

town. The said selectmen may, subject to such regulations as they may from time to time prescribe, grant permits in writing to engage in beam-trawling or otter-trawling in such waters, and may charge a reasonable fee therefor.

They may revoke said permits at any time. Penalty.

SECTION 2. Violation of this act shall be punished by a fine of not more than fifty dollars.

Approved February 25, 1926.

An Act ro INCORPORATE THE MONARCH LIFE INSURANCE Chap. 51

COMPANY.

ment, etc.

Be it enacted, etc., as follows:

SECTION 1. Gurdon W. Gordon, Carlton E. Nay and Monarch Life Clyde W. Young, their associates and successors, are hereby Company. made a corporation under the name of Monarch Life In- incorporated. surance Company, to be located in the city of Springfield, for the purpose of making insurance upon lives and issuing Purpose. annuities and pure endowment contracts; with all the rights, powers and privileges, and subject to all the duties, Powers, duties, liabilities and restrictions, conferred or imposed by all etc. general laws now or hereafter in force, applicable to domestic stock life insurance companies, so far as the same are not inconsistent with the provisions of this act.

SECTION 2. The capital stock of the corporation shall be Capital two hundred thousand dollars, divided into two thousand stock and shares of the par value of one hundred dollars each. The amount, paycapital stock together with a surplus of not less than one hundred thousand dollars shall be paid in, in cash, within twelve months after this act becomes effective; and no certificates of shares and no policies of insurance, annuities or pure endowment contracts shall be issued until the whole capital stock and surplus are so paid in. Said capital may, Increase of upon vote of the stockholders, be increased from time to capital. time as provided in section seventy of chapter one hundred and seventy-five of the General Laws.

SECTION 3. At any time when the net surplus of the Retirement corporation shall exceed twice the amount of the capital of capital stock, said stock may be retired, and in such case the policy Policy holders holders shall become members of the corporation and direct toebeperge its affairs as in the case of domestic mutual life insurance corporation, companies, and all general laws then or thereafter in force eto. and applicable to such companies shall apply to said corporation.

Approved February 25, 1926.

AN ACT AUTHORIZING THE FRANKLIN TYPOGRAPHICAL SOCIETY Chap. 52

TO HOLD ADDITIONAL PERSONAL ESTATE.

Be it enacted, etc., as follows:

The Franklin Typographical Society, incorporated by Franklin chapter eighty-one of the acts of eighteen hundred and Typographical twenty-four, is hereby authorized to hold, for the purposes mil hold of the society, personal estate to an amount not exceeding personal one hundred and fifty thousand dollars in value.

Approved February 25, 1926.

estate.

An Act RELATIVE TO THE REQUIREMENTS FOR THE FORMA- Chap. 53

TION OF CERTAIN MUTUAL INSURANCE COMPANIES. Be it enacted, etc., as follows: SECTION 1. Section seventy-three of chapter one hundred G. L. 175, $ 73,

amended. and seventy-five of the General Laws is hereby amended by

striking out, in the third line, the words “nor by a mutual fire company with” and inserting in place thereof the fol

lowing: -- and having no guaranty capital or having, so Issue of as to read as follows: - Section 73. No policy shall be policies by

issued by a mutual fire company organized subsequent to mutual fire insuranc April twenty-third, eighteen hundred and ninety-four, and companies.

having no guaranty capital or having a guaranty capital of less than one hundred thousand dollars, until not less than one million dollars of insurance, in not less than four hundred separate risks upon property located in the commonwealth, has been subscribed for and entered on its books. No policy shall be issued under this section until a list of the subscribers for insurance, with such other information as he may require, shall have been filed with the commissioner, nor until the president and secretary of the company shall have certified on oath that every subscription for insurance in the list so filed is genuine and made with an agreement with every subscriber for insurance that he will take the policies subscribed for by him within thirty days of the granting by the commissioner of a certificate to issue policies as provided by section thirty-two. If such officers shall make a false oath relative to such list, they shall be

guilty of perjury. G. L. 175, SECTION 2. Section ninety A of said chapter one hun$ 90A, etc., amended. dred and seventy-five, inserted by section seven of chapter

two hundred and sixty-seven of the acts of nineteen hundred and twenty-five, is hereby amended by striking out, in the fourth and fifth lines, the words “or by any such a company with” and inserting in place thereof the following: - and

having no guaranty capital or having, — so as to read as Issue of

follows: Section 90A. No policy shall be issued by a policies by certain mutual mutual company formed to transact business under the third companies.

clause of section forty-seven, or under clause (6) or (c) of section forty-eight A, and having no guaranty capital or having a guaranty capital of less than one hundred thousand dollars, until not less than one million dollars of insurance in not less than four hundred separate risks upon property located in the commonwealth, in case of a company formed under said third clause or said clause (6), or not less than two million dollars of insurance in not less than eight hundred separate risks as aforesaid, in case of a company formed under said clause (c), has been subscribed for and entered

on its books. G. L. 175, SECTION 3. Said chapter one hundred and seventy-five $ 93B, etc., amended. is hereby further amended by striking out section ninety

three B, inserted by section ten of said chapter two hundred

and sixty-seven, and inserting in place thereof the follow(ssue of ing: Section 93B. No policy shall be issued by a mutual policies by certain mutual company formed to transact business under clause (d) of

section forty-eight A, until it has secured the applications companies.

for insurance required by sections ninety-two, ninety-three and ninety-three A, or any of them, in respect to the classes of business which it proposes to transact and until it has

insurance

insurance

established the guaranty capital required by section ninety B, if it proposes to transact business under the fourth clause of section forty-seven. Approved February 25, 1926.

AN ACT TO RESTORE THE CIVIL SERVICE ST US OF URSULA Chap. 54

F. CARLETON AND PEARL M. TOWER. Be it enacted, etc., as follows:

Ursula F. Carleton and Pearl M. Tower, who now hold Restoration of positions in the division of banks and loan agencies of the status of department of banking and insurance and who, by reason Carleton and of transfer and operation of law, have been deprived of their Pearl M. civil service status, shall hereafter hold said positions subject to the provisions of chapter thirty-one of the General Laws and the rules and regulations made thereunder, notwithstanding the provisions of section five of said chapter thirty-one.

Approved February 25, 1926.

AN ACT RELATIVE TO NOMINATION PAPERS AND BALLOTS FOR Chap. 55

CITY ELECTIONS IN THE CITY OF NEWTON. Be it enacted, etc., as follows: Chapter two hundred and sixty-one of the Special Acts of 1916, 261(S)

$ 2, amended. nineteen hundred and sixteen is hereby amended by striking out section two and inserting in place thereof the following:

- Section 2. Candidates for city offices to be elected shall Nomination be nominated only by nomination papers in accordance with city elections the provisions of chapter fifty-three of the General Laws;

in Newton. provided, that nomination papers for the office of mayor Provisos. shall be signed by at least one hundred voters, for members of the school committee and for alderman at large by at least fifty voters, and for alderman by ward by at least twenty-five voters of the ward in which the election is to be held, and provided further, that every nomination paper may state, in not more than eight we ds, the public offices which he holds or has held, and, if he is an elected incumbent of an office for which he seeks re-election, that he is a candidate for such re-election. Against the name of any such Certain statecandidate there shall be printed on the official ballot for the memisati

nomination election the statement contained in the nomination paper papers to be

printed on placing him in nomination. Approved February 25, 1926. ballots,

etc.

AN ACT RELATIVE TO THE CONSTRUCTION OF SPECIAL ACTS Chap. 56

AUTHORIZING THE INCURRING OF INDEBTEDNESS BY DIS

TRICTS.
Be it enacted, etc., as follows:

Section eight of chapter four of the General Laws is hereby G. L. 4.88, amended by striking out, in the first and fifth lines, the amended words “or town” and inserting in place thereof in each instance the words: - town or district, so as to read as follows: - Section 8. In construing any special act au- Construction thorizing a city, town or district to incur indebtedness for a of special

acts authorizing

the incurring
of indebtedness
by cities,
towns or dis-
tricts.

specified purpose to a limited amount, such limitation of amount shall be deemed to apply only to the indebtedness authorized by the special act, and not to affect any other power which the city, town or district may have to incur indebtedness for said purpose under any other provisions of law; and in special acts authorizing loans to be payable by proportionate payments, such provision shall be construed to mean payments as nearly equal in amount as is possible without unreasonable fractions, but no payment of the principal shall be greater than any preceding payment.

Approved February 25, 1926.

The Northfield
Schools may

Chap. 57 AN ACT TO AUTHORIZE THE NORTHFIELD SCHOOLS TO HOLD

ADDITIONAL REAL AND PERSONAL ESTATE.
Be it enacted, etc., as follows:

The Northfield Schools, a corporation incorporated by hold additional chapter six hundred and nine of the acts of nineteen hundred real and personal estate.

and twelve, is hereby authorized to receive by gift, grant, devise, bequest or otherwise, or to purchase, and to hold and manage, property, real or personal, to an amount not exceeding four million dollars in addition to the amount now authorized by law, and from time to time to invest and reinvest such personal property and the proceeds of any sale or exchange of such real or personal property.

Approved February 25, 1926.

Chap. 58 An Act To ESTABLISH THE DATE FOR FILING ANNUAL COUNTY

ESTIMATES WITH THE DIRECTOR OF ACCOUNTS AND THE
DATE FOR REPORTING SUCH ESTIMATES TO THE GENERAL

COURT.

Be it enacted, etc., as follows: G. L. 35, $ 28,

Section twenty-eight of chapter thirty-five of the General etc., amended.

Laws, as amended by chapter three hundred and thirty-six of the acts of nineteen hundred and twenty-one, is hereby further amended by striking out, in the thirteenth line, the word “fifteenth” and inserting in place thereof the word:twentieth, — and by striking out, in the sixteenth line, the word “first” and inserting in place thereof the word: tenth, so as to read as follows: Section 28. The county commissioners shall annually prepare estimates of county receipts and expenditures for the ensuing year, in the form prescribed by the director of accounts and upon blanks by him furnished, including estimates for construction and repair of county buildings, with a statement of the corresponding appropriations for the preceding year, and expenditures for each of the three preceding years, explaining any difference between the amount of an estimate and the latest

appropriation for the same purpose, and citing the laws reRecording.

lating thereto. The clerk of the commissioners shall record the foregoing in a book kept therefor, and, on or before

Estimates of county finances, preparation, form, etc.

« PreviousContinue »