35

4rK

C.n.

1323.373

I29bs Illinois, jeneral Asser.tly. oenate.

Bills: proposed legislation introduced in the

Jenate. 35th ieneral Assent-ly, January-r'.ay 1887,

bill no. l-^2t..

Each i^ill carries a short synopsis and credits the ler^islatcrs introducing it.

Senate resolutions are at end of Lilla.

Sequential n"u:r, uers assigned at time of filing. !J'uir.oering begins anew with each ^ienni'o:;;,

Foiiowing Senate L'ills are ndssing;

U-15

132-133

229

33o-33'^

20-21

13U-137

231-23^

33S^

23

l^C

237

3i5-3it

2o

lU

239

3A8-3-i'-

30-31

1 / ','

2^2-2^3

351-353

33

153

250

3cl

^0

156-157

252

367

59-6-;

15^-lo

256-.^57

37.'

63

1l3-16^

25^}-261

37-:

O'J

172-17^

271

379

•7 ')

178

273

383-384

77-83

181-185

276

387-388

B'-^-'/J

1^<J-191

273-279

3%

93

195

281-283

392

97

197

293

399-^00

105

199-20C

297

^06

107

203

'XiO-y:!

UOB

109

205

306-y}7

ai-a2

113

211

313

a^-a5

115-116

213

320-321

A2C

120

218

32A-325

A2/,

125-128

^'20

329

130

223-225

332

.^!i^

Ai-

^^

^TJ.;JT;- . -Vir' -■

;::.t! A-.MM. SKXA'I'F— No. 1. Jan. 1887

1. liitrodiKwl by Mr. ('<H'liraii. .lanuary .*>, 1H87, aud orderwl to first

niuliiif.'. •2. l''irsf rcuiiJng January ■'>. IS^T. Hnd refernnl to Ccniniittee on Judiciary. i. I{t'|><irft il Itjuk with ;iiiuii<litKiits, |»H,ssatr<' rwoiitiiiendtHl, and ord«>j«'d

til second rcudnit;.

A BILL

For An Act to anuiid sections fom >4' and live lOi of an act entitled "Au a(;t Uj revi.se tlie law ni lelatioii tu inortga^a's of real and persoual property." approved Murcli A), 1874, in force July ... Ib74.

Section 1. Be it enacted by the People of the State of lUmois, reprcnenkd

2 /// fhe (rrnmil Asarviltlji, That s(ctio?ih four i4> a^id five ('5( of an act

:i entitled •.\ii act to reviwe tlx law in relation to mortgafjeK of real and

4 |M'rs<jiiiil iMopcHy." approved March -Ji. 1H74, in force July 1, 1H74, l)e and

5 the .siinic is liereby aniemh'd to read as follows:

(j -Sec lion 1. SmcIi niortiJ-ayes. trust deeds or other conveyance of |>erHonal

7 pro|tert>, acknowledtred as provithtl in this a^T, shall l>e a<irnitte(l to record

8 by the recorder of the county in which the tncjrtgaKor sball reside at the !) time wlien tlie instrument is executed an<l recorded, or in case the rnort-

10 •la'ior is not a resident of this State, then in the county where the

11 property is situated and kept, and shall thereupon, if hoim fide, be good

12 and valid from the time it is tiled for record until the maturity of the

13 entire debt or obligation : I'mruh-d. such tine nball not exceed two years,

14 unless witlnn thirty days nest preceding the expiration of the two years,

15 the TuortL'Hge*'. hix agent or attorney, shall make ainl annex to the instru- If) ment or uioilgage or file an affidavit, setting forth particularly the interest 17 whicli tbe mortgagee hah. by virtue of Buch mortga<?e, in tlie property

2

19 amount remaining thu- and nni)ai(l tln-nin. suxl flir \mn- fdi wliidi the said

'J* iii()itf.'Hpt' is I'xfendeil, whicli siiid »'\t»iisioii shall not t'\(<'('d n tintlifr tenii

21 ol two years, iipoji wliieli atlidavif flit- <li rk sjiull indorse tin time when

'I'l tlie same was file ', and the said iiiort;;at.'ef shall also. u,iliui the said

2;^ preeedinK thirty days, lile a certified (()|ty ot >a d aHida\its with tlie justice

■J4 of the peace heiore whom said liioitL'KUr was aciuiowled^cd, ii Jus successor

'iT) 111 otli (•»■.■

2<i "Section "j. A copy of any sncli morti/ai-'c oi other instrument. a<kn<)wi-

27 eili»ed. tiled and rccoidt'<l as afoicsaui, iiuludinf^ any aHidaviIs annexed

2H thereto, in pursuance of tliis idiaptci. ctitilicd li» the |>ropfi ic((irder. fiom

2!( the records thcieot. and also any eo|»i(- ol su -h atlidaxits tiled with the

•i<> justice of the peace lit foie whom siieli mort j.'a;;r oi other instrument was

■M aeknowledfZed, or liis successor in ottict . in purs umce of this chapter, may

."{2 he read in evidence in like cases, and upon tin same conditions as eojiies

38 of deeds and conveyances of lands, so certitiwl.

AMENDMENT TO SENATE BILE NO. 1.

First By striking out the words "expiration if the two yeai-s ' in third

2 line from the hottom. on pa^re one 'li. and ins« rtin^' the words "maturity

•S of tlie note or obhf,'ation for wlii(h sucli instrument or morfirase is ^ven

4 to »ecnre."

5 Second After the word "the" and before tlif word mort^'a^'e. in third

6 line from the bottom on ])age one (1> insert tin words ' n.. :t„';\"or and"

7 and after the word "his" and iK'fore the wor i "agent" on same line, H insert the words "or their".

t) Tfiini Strike out the words "make and annex to the iiistrument or

10 mortgagors " on tlie last and next ])reoeding line on first page, and after

11 the wonl "file" on said last line, insert the worts "for record"'.

12 /•>/«/•///— Add to the end of section four d' tlie following words "and IH t]iereii|H)n |the mortgage lien t>riginally luijuireil shall be continue*! and 14 extended for and during the temi of such extension."

.Sotl. As.(Mi.. SKNATK—No. 1. Veh. 1887

1. IiitiDilncfil li\ Ml ( (X liniti. -I.-iiiiinry ■>. 1HH7. juhI orflrn-il to first r»;i>lHit,'. «•?■:» ' J I ir-t i<!i<liiiu' Jinmiin ">. issT. jni<l r«'ft'rrf(l to (ninmittw on .Finliciarv. lii)"!! t((| liHck With ,uiii ii'iiiii-iits, |i;is,-i!)i.'f rr<(iri(iiHii.lri|. mill onlcri-ii to

sf< olid rciidnii.'. I. s.( Mini !• .tcliii;.' I-fdripd > J 1 Issy, ;iiii('riii«'il aiid onliTt'd til tlunl ?i-M<lii;i/.

A BILL

I 111 All Alt to aiiifinl >•■( tioii> ti'Ui }' iiiiil live '"n of ;i!i iu t ciititlfd "An

;irt I'l ii\i-f tlic \:i\\ i!i ithitioti t" iiiorf <.'Hi.'<'s ol leal Hint |h'1-«oiii(I

l'ii'l>iit\. ;i|>|iiio fi| Maiili Jii, ls74. Ill tor( (■ -liih 1. 1^71.

Skliio.n 1. Be it enacted by ths People of the State of Illinoui, nj... ^ /

■J III till (tint III! Assi'tiililii. J hut sections lour I' and ti\f <'ti u\ an act

> ciilitlcii "An act to rcMsc tin- law in relation to inortf.'L.i.'t's of real and I perMiiiiil |>ro|iert\. apiiroMil Manli Jfi, 1^74. in force •July 1, 1H7J. In- and ■") the saiiu |s lierele. aiiieiidtil to lead as tollows:

i ■;sieetioii 1. Such inortL'iL'e, trust deeds or otliei eon\eyance of personal 7 propeit\. aikiiou ji'dt'ei! as piii\ide<i in this act. shall \>v Hdniifte*! to record S li\ tin- ie<oiilei lit the eo,int\ III wlueli tile inoitjiaj/or shall reside at the il tiiiic when the itistriiinent is e\e<iiteil and recorded, oi in ease the moit-

1(1 i.raLliil Is not a resident nl tills State, then III the (OlintV Allele tlie

II piopelt\ Is situated and l\epl , and shall tiierellpoli. it huiin fii/t , Itc tiiiod 1-J and \aliil from the tiim it is tiled lor record until the niaturits ol the

|;; entile deht ii| oiillL'af loll I'ltiruliil. sllch tlUie shall liot exceed tWu years,

l( iiiiie~-~ w'tiiiii tliirtN iia\s iH\t piecediiiL' the maturitx ot the note or oh-

|o h^Mtli'li ti'l willrli sUil; illst I uiiieiit iil IIH at -.'aye Is ^_'l\eli to secure, the

III iihii iLi.ejiii iiiii iiiortuM'jee. Ills ,.i tieii aLieiil or attorne\'. shall file for record 17 all illilaMl. setti'ii: forth part ieii|arl\ tin- interest wliudi the inorte^aL'ee has,

is \>\ \ utile of -sIK ll 1lin|t^ilf.'f. Ill fllr |ir(iptlt \ llltlCllI llicllt iolU'il . ;ili(l it ^li. !:

1'.) iriDit^'Htri- Is tor tlir |»«\iin'>it of iiioiifv. llu' miKiiiiit ii'inaiiiiiij.' liiic itiid iiii)iMi<l

•J(l tliciciii. ;iii<l tlif tiiiif for wliicli tlif Mini iii<iit"_';i!.'i' i- t'xffii.l.d. uliK li s;ti(l

•J1 cxtciisinii nIihII not <\<»'('(i H iiirtliti tciiii ol two Mil'-, upon which ;itii.i,..;t

■I'l tllc iIitK s]{h\] illilorsf tlif tllllf whtll tllr •^•,i\ur \\;i> IIIimI. mill tin s;il<l riioii

■J:i L'aL'ff ^liiiil also, wifliiii tlif said picctdinL' tliirt\ davs. tile a (titilicd ii.px ,>\

"24 said atiida\its with tlic jiistHc of tlif pcai <• hfloir \>lioiii s;iid nioit;.'H'_'f was

'2~t a<KiioN\ lfdi.'f'i. or lii> >>iM(f>.s(i| m otliff. and tliftfi pon tin- ni'iitt.'a'_'f Ihii

•Ji\ oriijinallx acipiiifd shall hf coiitinind anil i Atendfd Km aijd diMiuL' tin iinif

'2~ ol sllfll fXtfllsioll.

•JS "Sfction "i. A fop\ ot aii\ >nidi MicrtL'aL'f oi otlin insti mn.nt . arkiM>\\l

•i^.l fd-jfd. tilfd ind ifcciidfil as aforesaid. iiK liidint: an\ a)hda\ it^ annt\ed thereto,

{(• in puisiianei' of this chapter, certitied hy tin proper neonlei. Iiom the re( ends

',\\ tlieleot. and also hII> eopio ot --lleh allidavit- tiled with the pi-~tle( nj the

;i'J peace helole wliolii ^ihIi mortL'atJe or otiiel lllst i llltlillt was acKln iW |ed;.'ed. or

\-\ his successor in otiice. m pursuance o| this eha|)fer, na> !><■ read in e\ ideiice

Vi in like cases, and upon the same conditions a.s copies (»t deeds and cunvev- ;{•") aticfs ol lands, so certitied.

1. Beoeived from Hoose Apnl 1, 1887, aaa «Aansd lo fiM4 nmS^mg, : :^

2. First; reading AjstQ 1, lm7, and referred to Comn^ttee on Fina&oe. .^^1 8. Reported back Sfsy 12, 1887, with axaeaimeaia, pxiwagel reoommendad^ '«f^

and ordered to second reading. 1:'«

.(■

-■ u>c '." /;■;; >-- .v^v-^*-

'r"-.

Ci" ;>i:i'-^K^ /-^r- ."; r-' -r * *.■„

J?'.:

A BILL - :^l^:4- .-.^-^^.^-ri.:;^-

For An Act to amend sections four <4), six (6), and eight ®, (rf an act entitled "An act to revise the law in relation to the rate of interast, and to npetH certain acts therein named," ^)proved May 24, 1879, in foroe July 1, 1879. •,_;:^;->^t'r--' ^V^^^ -•••.■--'-■::::.•;- :

m

A -■"-■''

Section 1. Be it eMcfud by th* PeopU of 1ih$ 8UUe of lUmoit, repretaUfd

2 in the General A$aenMy, That section four (4), six (6), Md mght (8) of an

3 act entitled "An act to revise the law in relation to the rate of intereat,

4 and to repeal certain acts therein named," ai^jroved May 24, 1879, in foro« V 5 July 1, 1879, be and the same are hereby so amended as to read as fc^ira:

6 "Section 4. In ^ written contracts it shall be lawful for the parties to

7 stipulate or agree that seven (7) per cent, per annum, or any leas sum of

8 interest shall be taken and paid upon every one hundred dollars ($100.00)

9 of money loaned, or in any manner due and owing from any person or cor-

10 poration, to any other person or corporation in this State, and after that

11 rate for a greater or less sum or for a longer or shorter time, except as tmwin

12 provided."

13 "Section 6. If any person or corporation in this State shall c(Mitnict to

14 receive a greater rate of interest or discoont than seven per cent, npon 16 any contract, verbal or written, soch peraon or carpontioo afaail forfeit tlie 16 whole of said interest so contracted to be received, az^ slalt be entitled only

.-■•i

St

a*-'-

m

Q

w

[a;

Hf.'

17 to recover the principal ram dtte to Booh penwik or oorporation, and lA

18 contracts executed after this act shall take effedi, which shall provide for )0 interest or oompensatiim at a greater rate than herein specified, on account do of iioD-payment at maturity, shall be deemed usarious, and only the in-incipal

21 sum dae thereon shall be recoverable."

22 "Section 8. When any written contract, wherevar payable, shaU be made

23 in this Btate, or between citizens or corporations of this State, or a citizen JM or corporation of this State and a citizen or corpotation of any oth» State, 25 territory' or country, (or shall be secured by mortgage or trust deed on S6 lands in this State,) such contract may bear any rite cd interest allowed by

27 law to be taken or contracted for by iiersons or corporations in this State, or

28 which is or may be allowe<l by law on any contract for money due or 20 owing in this State: Provided, however, that such rate of interest shall not

30 exceed seven per cent, per annum, and if any such person or corporation

31 shall contract to receive a greater rate of interest or discount than seven (7)

32 per cent, upon any such contract, such person or corporation shall foi-feit the

83 whole of said interest so contracted to l)e received, and shall be entitled only

84 to recover the principal sum due to such person ox <3orporation."

¥

SENATE AMENDMENTS TO HOUSE 3ILL No. 1. Amend section 4 by striking out the word 'seven (7)" after the word "that"

2 in third hne and insert "eight (8)" in lieu thereof.

3 Strike out section 6. and insert the following in leu thereof: "That who-

4 ever shall receive or contract to receive any greater rate of interest or di*-

5 count than is allowed by law for the loan, use or forbearance of any sum of

6 money due and payable by any contract, verbd or written, shall be deemed

7 guilt>' of a misdemeanor, and ahall be punished for each offense by a fine of

8 not less than ten dollars nor more than two hundxed dollars, and shall ako

9 forfeit all claims to interest upon saoh contraet, acd if the aame haa beoM

■■■iv

«5

^ ♦:

10 pud, the pvty ptarJBff AOi be mama^ to ittMMr Jib |lri» >Mk lif ii^

11 appropnsie aclion i& any Mmii of 4x«ip«ieai jnndidioiL"

12 Amend Beotkm 8 by striking out tiie iravA "Mvm (7)," is Hm 16, «li:};J

13 insert "eigbt (^," in liea theMot. Alao rtrike otrt flM imd "a«v«ii (7)," ii^ ^

14 line 19, and insert "eight (^," in hsn tfaemrf. ' ^:::^'f^:- ■■^' '.'':;-': :,^\^ i ^

. .^-^v? vr^-.r-::;^^;

J. ■■-'"*'

"t-t: ■>-^m^:- ' -V^-'-^^^*!

-' " .- >; .^^)^;■ ... 1 . Vr'/;.

■';

-_ - -.*• •*,"■ /-.'."v.- ■,*■■ -" . .-"-7 ' ",'"';' '.'(-■

*"-* *

.-*■' --'■"

^/^^-i

: - .- ■'•;- -■■.V;.S "-'^ ■■•.>.i;.^v,'.' "■■•/■ '

■'^■^.

""■■•: " ^ . -■ >-'•■'.-•' . ", - *'"\ \' '• -'' - '-

<4>'^^^^^

" \y^*

/^■:;•v.:■;"'^ ■.:;;■ '-■^r >'>-:>' rt: .■■■

S

.:;•.. '^i; '.r

■^/p

, ' A,,.^

i'\ V (

'■' -' ■'■-.;. ■<.;■.''-.'!■"'

:iS!J

-t^'' -^ - - , - - ■^ "■^ »'.-■"

- ,.,■ .,■■-- c.i . .\- * ^.> - .

,""'""'

': ; >•• V- ^'-W ', '■■:'■';■, -•.'^. '^ -..

.'.

-'. > r . , . * ,

v;*

;.-'^■■■^'■^^^■>■■■-V^-■r••—^■ -'--■■:'

' . " - * ■; -*■'' '" '. '

'\.-.- ,..- > J- :V^^''-*^-'-^ '":- ' "''

"'-'' ' k*' ' .~-.'' . ' ■■• ,-■,'■"'' ' " .■

.;

,■■;;'-'•'' •;'«:'){; ,^^ " -j-."i '■'- - -'":' •'

? .1

"' t-

-1

\i *:.

' ' ^:r- ' ''' ' . vi;;-;, ...._^ -^■

. * ■» ',

i-'>»^"-:

^X-s

' \>

'M':

- - 7 .

r&-

'•i^*

. .*■

'--1

>.■'

' '* ''■

'< '■

■; .k

■*'

' >'?

'.4^:

■■'..i'.

'^ -

^''

-.8:

r-

■-■>■'

■'*

M

■/*

:''^

'-'^y^

■■7»!f

'" viJ-y

-<■'

35th Assem. HOUSE— No. 2.-~In Senate. Feb. 1887

1. Receivt'd from Houw February '2, 1887, ami ordered to first reading.

2. First rtiidiijg February •], iss7, and ordere<l to second reading.

A BILL

For An Act to provide for the incidental e.vpenses of the Thirty-fifth (Jeneral .\sseiribly, and for tlie care and custody of the State House and grounds, incurred or to be incurred, and now unprovide<l for.

Section 1. Bf if fimcti'(] htf the Peoplf of the fitnte of IllinoU, repreaented

2 in the (h-rtmil Ansemhli/, That the sum of fifteen thousand dollars (^lo.OOOt,

3 or s(» juuch thereof as may be required, is hereby appropriated to pay the

4 incidental expenses of tlie Thirty-fifth Cieneral Assembly, or either branch ■~) tliereof, or by the Secretary of State in tlie discharge of the duties ini|)osed f) on him by law, or by the direction of the(rejieral Assembly, or either branch 7 thereof. All exi^'iiditurcs to be certified to by the Secretary of State and H approved by tlie (iovernor.

!$ 2. i'lic .\uditor of Public Accounts is hereV)y authorized ajid directed to •2 draw lii> warrants upon tlie State Treasurer for the sums herein sj»ecirted, ;5 upon presentation of tiif; proper vouchers, and the State Treasurer shall pay 4 the same out of any funds in tiit- State Treasury not otherwise appr<ii)riated.

jj A. Whereas, the ai)propriations above recited are necessary for the

2 ex|>eiises incurred, or to be incurred, for the transaction of the business of

3 the State and the (leneral .\ssembly, therefore an emergency exists, and

4 this act shall take effect from and after its passage.

S^i'WKP-' ,' "■'■•. '' •* -»' ^■' ' - •iV->^ il U L .1 !■

m

liTyiU AsstMii. SENATE-No. 3 Jan. 1887

I. IiitriMliictil l)y Mr. Hell. .lamiarv <i. 1MH7. and onh'rol t») first rtailiii':. .1. Fu>,t reading,' •iHimarv (>, IsnT, and rfffrn-fl to Coiinnittef on Labor a)id

Maiiiitactiin'H. {. l{ulis sus|Mii(lfd Jainiiirv \I. l^iH7, and ord»'rt'd to second reading' and

tti l)f printed.

A lULL

For .\n .\< t to |Mo\ii|i for tli»' Incorporation of Co-opcrativc Associations tor

I'niiniarv I'rofit.

Sk( rioN 1. }i,- it 'Kiiit, il iiij r/i, I'l-o/i/, lit Ihf Stiitr nf Jlliiiiiis, rritrtsriitti! ni 1 flif Cult, I'll Asai'iiililii. 'I'liat whenever any ninnWer of |M'rsoii.s not less than :> tliree nor more than se\en. nia\ desire to hecoine incorporated as a ("o-opeia- \ ti\e .\^soeiation for the purpose of prose( iitin;.' any hratudi of iii(histry. they .") sliiill n:ai\e a statement to that effect under their hands an<l seals, duly (i a( kno\sle(li.'ed hefore some olticer in the manner provided for tlie ackiiowledLTe- 7 ment of dee<ls. settiniT forth the name of the pro|»osed cori>oratioii, its caf>ital H sfo( k. It-, location, and duration of the asso«iHtion, and the particular hrancli ".I of mdii'-tiy uhicli they intend to prosecute, which statt'Un-nt shall he tiled

10 in the olli( e ot I lie Secretary ot State. The Secretary of State .shall thereupon

11 i-^>ue to such person> a license as coiiunissiouers, to open lK)oks for \1 siil)s( riptioii to the capital stock of such aHsociatioii, at such tiujc and IH place as they may rletermiiie. No license shall be issued to rwo asso<ia- 11 tions of the same name. The name of the city, villaj^e or town in 1.") which the association may lie located shall form no pail of the name.

:; 1. .No person shall be permitted to sitbs<ribe more nor less than one 1 share to the capital stock ol such axsixriation, nor shall any ikthou be ;lj^permitte(l in any manner to own or control more or lews than one share 4 in siuh a8KO<;iatioD.

•2

§ '■]. \h s<H»Ii as tt'll sliHIo or (iiuic of the CHpitul stock sludl lie siili-

•J -^(rilicil. flic (•(iiiinii>^si(iiiris sliali coiisciic :i ritfct iiiv.' ot flic ^iilis< jiliti ^ tni

i tile |>iii|i(isc (il clfctm^ director^, aiioptmj: liy-hw-- jiihI transact iiil" >iii Ii

4 otlitT liii>iiicss as sliiill pntpcrlx coiiu' lu'toic tlifin. Xolic*' tlicifut --liall

•'» III' ijncii l>\ ilcpo>if iii<^ III tlif postodicf pi(iprrl\ aildicsscd to t'iicli siili-

(i sciiln'i. at least ten <la\- licfoit tijf tunc li\f<l. a written or piinted

7 notice, stating' tlie olijeet. time and place of such nieetiiiL'. |)ire(tois ul

^ associations or^'aiii/.e<l under this act sliall lie elei ted, cJassitieil and hold

'.> their otiice for such period of tiine as is presided l'\ •.'ctieral law i;o\ciiiinL'

|(t the election and ciassitication of ihrectors, trustees or inana^'ers of cor|ioiatiotis.

^ }. Ihe < oiiMiiissioners shall inaki a full repc it of their pro< eedmiis.

1 including; tlierein a eop,\ of the notice provided foi m the loreeoin^i section.

;{ a eopv ot tlu^ siihscription list, a copx of the hy laws adopted \<\ the

1 association, and tlie names of the directors elected and then respectne ■') terms of otiice. which report shall he sworn to In at least a majorit\ ot t) the coliiPiissiiHiers. and sliall l)e tiled in tiie otiice of the Sertctais ol 7 State. The Se(r«'tai> shall tlieieiipon issue a ceititicate ot fin i nni|)|ete H ortraiii/ation ol tlie associations. iiiakinj_' a jiait tin reof a c opv ot all papers W tiled in Ills ottic (■ in and ahout the oiiraiii/.ation of the corporation, .inn

1(1 duly autiiciiticatcd under ins hand and s«-al oi State; and the s,,iii.

11 sliall he recorded in tlie ottice of tlie recorder of deeds in tlie countx in

I'i whu h the |)rintipal otiice of sucli association is located. l'|Min tin n-cord

];> intr of said copy tin- association shall \>i- di eiiicd fully orffaiiized and may

14 proceed to liiisiness. I'nless sncli association shall he ori.'ani/ed. and siiali

lo proceed to Itusiness witlim tliiec years after tlie date of such license, the

If) lic-eiise to form such association shall la- cjeemed rexoked. and all

17 ])roceedinirs tliereiiuder sliall be v(»icl.

§ "). Associations formed under tliis act shall i»e hodies corpmate am!

2 |»olitic for the period for which they are or<rani/ed. may sue and hc' Mied. M may have a common seal whidi they may alter or renew at pleasure; ma\ 4 own. poHsess and enjoy so much real and personal estate as shall he necessarv ;■) for the transHOtion of tlieir business, and may sell aid cliKpose of the same

3

) ulnii. ill tlif <)|Miii()ii nt f)i»" sliiirt'lioldt'is, it is not it't|iiire(l for the iisen of

7 tlu' !is>,<)<ii(tiiiii. TIh'V iiiav li()rr(i\\ iikdu'V at Icirai rHf«'s of iiitcrt-st. and

>> plfdiii tlifii |prii|Hrt\. Iintli leal and ixTsonal. td scciiir |»a\Mniit flificot,

'•• and riia\ lia\c and r\<'i(i^^f all ixiwci^ iicccssarv and it(|nisit<- tn caiiv into

pi t'Hict flu olijccts toi ulnc li tlif.v niav Itc toriin-d.

((. 'I'lif coilmratf |)(HS(i> >liall Ik- t-xcrcistMl hv a Ixtaid ol diit'<-toi>,

_' till niiiidx'i ol whicli *-liall i't- h\fd li\ tlit- liy laws ol tlic association.

:; iiiit ihi nundni nia\' In- im leased or iliininishfd lj\ a nia.|orit> of tjic

i ^lian linjilci-. at an\ |tro|ifil\ called incftin;,'. Tlic officers (d tiic ass<icia

.") tioii -liall consist ol a |iicsidfiit . vicc-|irtsidciit , sccrct«r,\ and Iriasiiicr.

r. ti' 1" ilcct'd l'\ the '-liaitlioldcr^ at tiicir aiiinnil inct-tiims as riia\ l>c

7 |)ri>\idi(l loi III the liy laus ol tjic association : inH\ dctctinuic ulio

s -,li;tll in clf< ted at some icMilar iiieefinij (d tiie sfiaielioideis. as ina.v i>c

•I liv li\ law proxidcd. All li\ laUs of tiie association sfiall lie adopted l)\'

1(1 jlie -^liaielioldeis of tiie association.

i 7. No otiic'-r or director -hall receive any compensation for liisser\lces

- J c\c<pt -^ll(h a-- ma> lie pro\ iilfd tor in tlie l)y laws of tlie association.

'■'} it ■'liall he the duty of flic secretary to i>e present at all meetings of tlie

I directors, and iiieetint.'s ot the sfiareholders. and faitfifuljy niafvc and

.'i preserve a record ot all tlie pioceedin^'s of sinli meetings, wJiich record

i •>hall lie f^ept in a siiitahlc place accessilile to tlie m.spi-ction of any sliare-

7 lidldei. lie shall he tlie hook keeper of the associhtioti. siiall keep file

.s account-- hetween the as-,iieiaf ion and the iii<ii\ idiial shareholders, dfiicers

!> and a'jeiits tliereot, ami hetween the association and all parties witli whom

|(i it nia\ transact hiisinrss. jind sih h otiier duties as ma> he im|M)sed ii|>on

11 hiiii h\ the hy laws of the a->sociat loll.

:; ■'-. i'lie sliares of stoc k shall not he less than S.-jtl nor more tlian S"J,(l<lli

■2 pel -'hare, and siiliscriptions therefor sliail l>e made |)ayalde to the assiaiation.

:; and in-^talinieiits and al ~.iich time or times as sliail Ik determined liy

} tilt shaielioldeis. and an action may he maintained in the name of the

."> association to recovj-r any installnieiit wlii«di shall remain due and unpaid

() for tlie period <d thirty daVs after jiersonal deiimnd therefor: oi, in cases

7 wluTf iM^rsonal ileiuHiid is not iiiiult", witliiii thiry diiys after a writtcii

S or priiitctl notice lias la'eii <lf|>ositf(l ni tin- |)ost ilHcf. |)io|>< rl\ liiii ctfii

W to the |»ostotiice address ol the siiaieliolder. The a-^soeiat ion iiriv hv

K* hy-law |ires(iii)e other iieimlties tor a laihire to |>av tlie mstalhiieiit^ liiat

11 may from tinu' to time l>eeome liiie. luit no penalty worKniL' tmleilure

12 ol stock. Ol' the amonnt |»aid thereon, shall ht declaied aLraiiist an\ \'-] shareliolder luitil the i»ersonal (hMnaiid or written or priiited notiic ahoxe 14 provided for shall lia\e heeii made. Whenever a >hare of sto( K shall he 1") forfeited Mi(di share shall then iieconie the pro| ert> ot flu isxioution ]<■) and may he re-isMied to any person not already holding.' a -li.-nc. Uut 17 an\ pioceeds receiscd from smcIi reissue, o\cr and ai>o\e the Miihiuiii Inc

IH on said share, ii\ the associntioil. slndl lie paid tu tili- deillKpielif

V.I shareliolder.

;; '.». No share of stock shall he liahle to execilt on. writ ot attachment

•J 111- clisfress. for rent, for an\ of the iiidi\idn;ii ih-lit- of tin- nwini ul *iicli

'■\ sliaic. noi shall any shareholder he peiniiit<'d lo pjedL'r Ins -ium ;is

4 seciiritN for an.\' delit or ohlisjatioii that nia\' he dm trom sinii shaiclioldei

•") to an\ person, hut such shareholder nia\ pledire not to e\ricd at an\

(i one time sixty d;i>s of his dnideluls to ali\ iiccilui. pKUidcd tin |;i(t

7 of siK h phd^'e sliiill he lirst n'>led upon the hook^ ot the issociat ion

^ 1(1. l'.\i-i\ assii_Mimciit III tiaiislei nt sfocl. mi wIikIi llnic lemains

■J any jiortion unpaid shall he recorded on the h( oks ol thi' nssocintion.

M and each shandiolder shall he jiahle jointly svith 'he associ.ii mii m- w.ll

4 as severally for the dehts ot the association to the extent of t h< iimount

.') that may he iin))aid upon the share held hv him. No assi'_Mioi ot ;i sJiHre

<■» shall he released from ati.v such indehtedness hv re» son ot aiiv assiLiiiiiient

7 of his share, hut shall remain liahle therehir join'ly with the assiirnee

M and the association, or severally, i.ntil the stock is fully paid up. I\very

W Kssipu'e ol a share shall he liahl" lor the amount un|)aid thereon, the

10 same as i' he had hee?i aji < ii;':nal sliareholder. No assifi^nment shall he

11 mail- to any person who already holds a share. No assifrin-e or transh-ree

12 of st<.<k ^l:dl have any equitahle or lepal title in i)ie sanu'; or have th»'

8 . ' * •'■■'' -"- _ ■'.

13 ri^ht to vote at any HliarelioKlerH' nteetiTif; until such asnfniBient or

14 traiisft'r sliall be recordeil as above pro\'i(led for.

>; 11. .\il (li\ i<ltii<i> of profit-. nia<le by any assfKiatioii incorjKirated nnder "2 tliis act, sbiill bt' made in projHirtion to tlie amount of work jierfornietl, or ■i prcxluct piotiiued by each sliaiebolder. and tiie association Kliall deci<b> by by- 4 biw wlictlitr each sliarelioj<lfr"> work or product >hall l>e measured by the .■) pifcc. oi liy tilt' day or limir, or may cliis-'ify tiic work, and measure t) some by the piece, some by the ilay. and some liy the liour as the exi- 7 iieiKies (if the ciise iiiiiv dernaiid. 'I'he association shall also provide by H bv-I;iw iiow dJHen nt kimis of |)ieee-work sludl be rat*^!, und how piece- (( work >li;iil I'e rnted witli i|;i\ .>r hour work, ^hull provide how ar»d by

10 whom ;dl kinds .>! work sh;;!! he recened a-^ |>roperly e\e<Mited from the

11 sharehiilderN fur the as-ocint inn : -^IihII provide tiie maimer of •.m\uil' out 1-2 matcrlMl to the diihrent shareholders with which to work, and as to what \'\ iHt>itioii> or locations shall ite assiirned to ea<li shnreholder and by whom.

14 Should any shareholder be dissHtisfied witii tlie decision upon his work, lo or witli the mateii! u'lveii liitu, or the position or location assisnied hira, M) he mav appt a! t<> the asscx iation at some re^ridar meetintr of the wliare- 17 holders, whose decision shall lie tinal. The assoemtion may provide by

15 by law how sucli appeal may be conducted. If m any kind of industry 1(» it should be impossible to assiLMi all shareliolders to equally advantageous •Jtt position- or locations in wnrk, the asscKMatioii may jirovide that sliare- 21 liolders shall periodically (baii«,'e places, or |>rovide any iru'th<Hl t)f equai- ■J.2 i/.im.' sill h matters in accord:ince with jjistice and ecplity.

;; I'i. It shall he unlawful for the association to hire any jhtsoii to I eiij^at'c III the priiK ipal busmess for whi(h the association was ortratii/ed :i to pros(( lite, it in^ the mtent of this act that such labor shall b<' |)er- 1 hiiined bv shareholders of tin- associatuui to |)reserve the co-f>perative >

;") feature. It shall be lawful bir any shareholder, in case he shall be de- (■> tained from work l>y sickness of self or family, or very urgent business,

7 to employ and furjiisli a comi>etent substitute to i>erforni Hueh lal>or as

8 wouhl be assi^'ned to tlie absent shareholder; and in sucli cane the div-

.l^{l.* 3 4 .. *J

it

^ 9 ideiids Khali he nia^lc to hucIi Hhareholder the Hunic as if lu* whs prfK«>nt

^ 10 iMM-foriniii^ his lahor hiinsflf. The HswMiHtioii sliall not Itc linhh' iii any

11 manner for the pay of such suhstituti'.

!; 13. Whctifver any liousehoMer may die, liis slian' sliall ht'conic a [xTsonal

2 asset of his estatf. and may h«' sold hy his h>j,'al rcpt'sentativc to any person,

3 or may l»e awarded as a (hvidi-nd of the estate to any })erson conipetent to

4 work the share, or to any (h'Vf)tee or le^'atee competent to work t)ic share, not

5 already a slmndioMer. and the same may Im- asKJiJiUMl or transferred in the same

6 manner, and suhject to the sanm refjulations j)res( r hed in section 10 of this

7 act. Such lefial rejm'sentative sliall have the ritrlit to furnish a competent

8 suhstitute to wctrk (he share v.f such deceased person for tin space of U two years after the death of the (h( eased, uidess the same shall ha\eiiccn

10 sooner sold, or awarded as ati estate di\i(li-nd. or devise or legacy, as this

11 section provides, and (luring' the time such sulistituti may he furnished. >ucli

12 let.'al re|iresentativc, for the use of the estate, slid) he entitled to \ote, l'.\ receive dividends and sliall mure to all the henelits to which the dtceast-d

14 if livinjr and working; his share would have heen entitled. \\ hene\t r such

15 share shall l)e(;ome a )tart of the widows allow an e in the course of the 1() administration of the estate of any deceas«'d shanholdei, she may furnish

17 a competent suhstitute to work such share, an<l >liall he entitled to all

IH privileges, dividends, etc.. to which her hiishand w luld have heen entitled,

p 19 HO lonfj; as he may desire to hold such share. S'le shall also ha\e the

20 privile<je to sell the same wheiR'\i'r she iiia\ desire under the proNi-^ions

21 of section 10 of this a<t.

■" § 14. Any association lic'eiised to oj)erate uiuh-r tliis act may in< rease

- 2 its memhership of shareholders in such manner as it may hy hy-law jtroNide

3 not inconsistent with any of the provisions of this act.

^- ^ IT). The (ieiieral Asseiiihly herehy reserve tlie power to pres< rihe such

2 regulations and provisions {jovernin*; any and all assocititions iiicor|)orat»'d

; 'A under this act as it may deem advisahle, such rejj dations and provisions

; 4 to he hinding on associatiojis incorjiorated at the -ime Hiicii regulations

I.'.

C 5 may he made as well as tliose thi'reaftei incorporat(;d.

7- - ' ■, ' ■'"V y--'-'-

'4k % l(j. All aKsociations organized" under this at't, whose powers may have '■%

2 «'xpire(l by limitation or otherwise, shall continue their corporate capacity

A durinf,' the term of two years for the purpose only of coUectintj del)ts due -^

4 the asMiciation. and sollinfr and convcyinfj the j»roperty and effects thereof,

"i

5 and duriii},' such time shall he capaMe of prosccutinff and defending suits

(■) in law or ecpiily. The dissolution for any cause wlmtevi-r, of any a+iHociation

7 iucorporatt-d under this act. shall not take away or ini]>uir any remedy

H j/i\fn aj^'ainst such association, its sliarehohhrs, orticers, or at^ents, for any ;

y hai)ilities incurred previous to dissolution.

;; 17. It shall he the duty of the directors of any aKsociation to cause

2 to he kei)t at its |»rinci|ial oflice, or place of business, in this State,

3 correct books of account u! all it-' business, and every shareholder of such

4 association shall have the rii/bt at all reaKonaWe times by himstdf or his T) attorney, to e.vainiiie tbe reconls and hooks of account of the aswH-iation.

sj bS. A failure to elect <lirectors or ollicers. or both, on the day '

2 desij^niated in the by-laws, or on the day U)\ which notice was f^iven for [

'.\ election, shall not have tbe effect of dissolvinj.' the aHwxiiation, but such •1 election may b<- held at any time after proper notice.

;:; v.). .Ml assessments or installments of the unpaid or partly uiijtaid ■'

2 shares of stock of any association shall be leviitd by the dir<'ctors in ;{ ac< ordance with th^ iiro\isions of the by-laws, hut any assessment or i

4 iiistalhiient reijuired to Ix jiaid shall la- levied pro rata upon all the shares ^> ol st(Jck. ;

;; •^). If the indebtedness of any association shall exceed the amount of

2 its capital stock, the dirtctors and officers of such association assenting ^ A thereto shall be individually liable for such access to the creditors of such '^

3 associaticm.

;j 21. If the directors or otlicers or agents of any association shall declare

2 and pay any dividend, when such a.sBociation is insolvent, or any dividend, the

3 payi'ent of which would diminish the amount of ca))ital stock, all directors,

4 otlicers and agents assenting thereto shall be jointly and severally liable for all

,■■ . u»'- -■,i.\...r-j

8

5 debts of such asHwiation then in existent-e and for ali whic}i hIirII thereafter

(j Ik' contnu'tiMl, while thi'V shall respeetively continue in oHiee.

§ 22. 'I'he i)()ar(l of directors shall liolil stated me«'tings not less frecjuent

2 than once ea«h month, as may he |)rovided hy tlie l»y-laws, and when

y such oUiceis shall he present at ajiy nirctini,', hmsever called or notified,

4 or shall sij^n a written (consent on the records of such niertiiij.'. the acts

5 of such ineetinf^' sliall he as valid as il le^'uUy cilled and tiotifiid. All 0 directors' nn-etin^js must he held within the limits of this state.

5; 2.f. The shareholders of every association shall hold reirular tTieetings

2 not less tre(|ueiitly than once each month, as m i\ he pros ided hy tlu*

H hydaws. ami shall h( presided o\cr li\ president if the !ishO<i;if ion, or

4 HI his ahseiice the vice-president shall |)re>ide. a id in liiv ai)seiice, tht;

5 meetinj,' may ele<t a president /»/■/» friti/xitf. who shill preside durin<r tliat

6 meetiiiL'. It shall require a majority of all the i-liHreholder-- eiitith^l to

7 vote, to he present, either in |)erson or hy written proxy, to con-^Iitute a

8 (juorum to transact husiness, hut a smaller niind»er may a<ljourii from time \) to time if they desire, or uiitill the next re<.'ular meetmtr.

!; 2-1. No hy-law shall he adojtted, amended or repeah'd. except hy an

2 atiirniative vot*' of a majority of all the shareholders «'ntitled to \(>te.

3 Such vote shall he taken hy a call of the roll ol shareholders hy the

4 secretary |of the meeting', noting the res|Mmse»i whetlicr a><' or no,

5 opiK)site their respec-tive nann-s, and which vote sjiall he s|)read upon the () records of the proceedintrs. Votes upon other (pu'stioiis may he rirn nuf.

7 showing' of handn. or a division of the Jiouse. unleKs three shareliolih rs hy

8 themselves or proxy shall call for the ayts and noes, when in such case the roll y shall h«' called, and the aye and no vote taken. If in callin}.' the roll

10 upon any (pn-stion, less than a «p!orum votes, the jx-ndin^' <pieslion shall

11 still remain as undecided until a quorum shall vote on the ipiestion. .\ny

12 pro|K)Hition to amend, repeal or enact any hy-law must set forth th«- hy-law IH as amended, or the one rej^aled, or tlie new one prciposed, and he read at 14 large in op«'n meeting, and its consideration postponeil until tJie next

15 nicftid^r, idiIcsh h nuijoritv of all tlic slmnOioMrrs of tli«> Hssociatioii hliiill, on lit ail avi ami iiu vot*-. I.c in fa\nr of coiisidtririi,' tlic (|iitstioii at. oiicc.

>; 'I'). If aii> a■^so(•iati()n nr its antliDri/.cil a;.'ciits sIkiII do or rifraiii

2 from (]oii!l,' uny act whiili shall siilijccf if. to a foif.>it uii' of its (liaiti-r

> or (■■ iijH.r itc ]io\\ri>, or sli.ill iiHow jmy txcriitioii or (Ifcrcr o( aiiV iMiiil

I of ricoid lor a naxinciil of id iinv aff'i' ilniiaiid ina<lf li\ the oHii <-r. to

•> !"■ rttuii,".!, '■ iio . |itoji.i i\ (otiiid." or to mnaiii iiiisati-licd tl)iit\ days

r> altir ^licii driiiand, or shall djssohr oi < t asc uodil' liusiiitss. lta\iti^ diiits

7 iiii|iaid. siijis in ('(|nit\ iriay hf hroiiL'lit airauist all |Misons who \\t re

H sharf-holdi rs at tin Iitnc. and liaidi- in aii> \\a\, for tlf d< hts ot thi.-

'• assiKiaiioii Ii\ joiiiiiiL.' till <(ir|roration ot siidi suil, and after tlic assets

!<> o| ihi- I 111 jporat loll shiiji iia\.' hiili i\liailst cd. rath sliareholdcl may hi'

[I ic(|iiii<.l to |i,iy till /iif i-'iiti sliari ol siK li dfhis to tilt- aiiioiiiit of hi-.

\1 ini|iaid stock, or 1o jin.v i \f. lit to uhuh hi' may li,\ law ha\c hrcoiiif

i-'^ mdiMdiiall> hahlf

^ JCi. (oiirts ot ic|ini\ shall Im\c full power, on ^'ood cause sliov^n. to '1 dissolxr oi (lose U|). or take cliarLie ot tile hllSIIH'S.s o| aiiv assoeiatioii '■) for the in-iielit of the creditor-, to ap|Miiiit a reeei\er therefor who shiiil I lia\e authority. !>> Ihe ijam. i>l tJM ri-eei\<i ot siicli assoeiation. iL'i^ni!,' ~) liis name to siie m all eomis. and do all thins/s neeessaiv to (lose up (■> its affairs, or to make the nioiie\ s ehaiL'id a^.'aln^t it iitid return it ha(k 7 to till shaieholders of the assiaialioii. as ma\ he eoiimiaiided jiy \\n* s (leiiee of courts. Said receiver shall lie a citizen of the Statf of Illinois, !) and shall enter into iioiids. |ia\ahle to the people of the Stat>' ot Illinois,

10 hir tile nse of all parties interested. Ill siK h penalty and with sih h sureties

11 as the court nia\', in the decree or order apitomtiim the same, reijiiire.

!; 'JTi The certitied copy ot any artules of incorporation and cliaiiycs "2 thereon, undei the ^leat seal of the State ot Illinois, shall he taken and

3 recei\ed in all courts and places as /iriimi t'urii' eNideiice of the tacts

4 tlietiiscjve,-,.

.V>tli A«s(Mn. Sr:\ATE--No.3. - Feb. 1887

1. liitiiMluc* (1 li\ Ml. IW'll, .l;iiiii)ii\ <). IHHT, Hinl onli'ivd to first n-Hdin^. ■J Fust rcadms.' •(;iiiiiar\ <>. IHS7 .iinl referred to Cornniitt*'*- on Lnfmr Hiid

Miiliiitacf lilts. i. Knits viiis|ic?jtifil .Iiiuutirv \1. IH^7. ami ((rdcrcd to Ik- priiite<l. 1. Ill |ii)itf<l haik ItliMiaiv }. 1H)S7. w itii }iiiifii(iiiif!it. pHssatrt- r«'COiiiiii»'ii(lf<l,

and iHilt'ifd tti sfcoiiil It adllij:.

A BILL

Foi .\ii Act to piciMdc loi tin Iii(t)r|)orHtioii tif Co-oin'rative Associations for

I't'cuiiiarv Frotit.

Sf.( litis 1. Brit nidrti-il hji ffw Vcoph nj' the Stnie of I/linoi-n, ri'prescnted

•J /A, (;.i,,i,il Ass.-inhlii. Tliat wlit^iifvcr any nnndxT of jhtsohs not less than

{ tliifc imi iiiorc than s("\tii. nia> dtsin- to hcronie iiu'orjmratf-d as a Co-opera-

I n\i- \-sti( iMtidn for tht pinpos*' of prost'futinjr any hrancli of industn*, they

;") shall make a stHtciiii'iit fftliat i-fffct iiiiihT thtMr hamls ami seals, duly

) acknow