156 BANKS AND TRUST COMPANIES. [ART. 11

In addition to this detailed report as of the last day of December, the
treasurer of every savings institution without capital stock shall annu-
ally within twenty days after the last day of June make an abbreviated
report to the Bank Commissioner, showing accurately the condition
thereof at the close of business on the said last day of June, specifying
such of the foregoing particulars as may be prescribed by the Bank
Commissioner, who .shall furnish the blanks for each class of report.
These statements shall be certified and sworn to by the treasurer before
a notary public; and any corporate officer making oath to false state-
ments in such report shall be deemed guilty of perjury, and upon con-
viction shall be subject to the penalties provided by law for that offense.
The president of the savings institution shall certify as to the correct-
ness thereof and whether in his judgment the loans on mortgages or col-
lateral are properly secured.

1910, ch.; 219, sec. 36 (p. 17). 1912, ch. 194, sec. 36.

37. An abbreviated statement as of date the last day of December
of each institution so reporting shall be published during the month of
January in each year, in one or more newspapers in the city or county
in which the institution is located over the names of president and treas-
urer. This statement shall show: Amount of deposits received during
the year, amount of interest and dividends received, amount of deposits
paid out, including interest; amount of expenses paid, amount of taxes
paid, amount of premiums and other charges, book value of total amount
of bonds and stocks owned, amount of loans on collateral, amount of
loans on real estate mortgages, book value of building occupied by the
institution; if any; book value of other real estate owned; cash on hand
and on deposit in banks and trust companies, amount due depositors,
amount of guarantee funds and undivided surplus, number of deposit
accounts opened, number of deposit accounts closed, number of deposit
accounts existing.

Trust Companies.

1910, ch. 219, sec. 49 (p. 23). 1914, ch. 805, sec. 49.

50. The affairs of every such corporation shall be managed and its
corporate powers exercised by a board of directors of such number, not
less than eleven nor more than thirty, as shall from time to time be pre-
scribed in its by-laws. The number of directors necessary to form a
quorum for the transaction of business may be fixed by the organization
certificate or by the by-laws; such quorum shall not be less than one-
third of the number of directors, and in no case less than seven. No
person can be a director who is not the holder of at least five shares of
capital stock in the corporation, which stock shall represent at least
$500.00 par value. The persons named in the organization certificate,
or such of them, respectively, as shall become holders of at least five
shares of such stock, shall constitute the first board of directors, and
may add to their number, not exceeding the limit of thirty, and shall