156 ARTICLE 11.

his deputies. The Bank Commissioner may order such additional exami-
nations as he may deem to be necessary. In January of each year each
credit union shall make a report to the Bank Commissioner of the business
of the preceding calendar year in such detail as the Bank Commissioner
may require on blank forms supplied by him for the purpose. He may
require such further reports from time to time as he may deem necessary.
All reports shall be signed and acknowledged by the president, treasurer
and a majority of the members of the supervisory committee.

For failure to file a report when due a credit union shall forfeit to the
State five dollars for each day such neglect continues and if it continues
for more than fifteen days, the said Bank Commissioner may revoke the
certificate of approval of said corporation and said corporation shall there-
upon discontinue doing business until such time as it may be permitted to
continue to do business by a re-issuance of the certificate of approval by
the Bank Commissioner. If the Bank Commissioner, upon examination,
finds that the credit union is insolvent or that it has violated any of the
provisions of this sub-title or that, in his judgment any of its practices are
unsafe, he may by an order made over his hand and official seal, order said
credit union to discontinue said illegal or unsafe practices, after a hearing
or any opportunity for a hearing has been afforded said credit union. If
said credit union fails to comply with said order within sixty days the
Bank Commissioner may take possession of the business and property of
said credit union and retain such possession until such time as he may
permit it to resume business or cause its affairs to be finally liquidated as
by law provided.

1935. ch. 501. sec. 7A.

106A. The examination of Credit Unions by the Bank Commissioner
shall be paid for by such Credit Unions at the following rate for each
examination: A charge of five dollars ($5.00) for each examination shall
be made in all cases, to which shall be added, after first deducting the sum
of ten thousand dollars ($10,000.00) from the total assets of the insti-
tution so examined, 1/20 of 1 per cent, of such remaining assets. The
Bank Commissioner shall collect the amounts named from the institution
examined and pay the same to the State Treasurer.

1929. ch. 337, sec. 8.

107. The fiscal year of every credit union shall end at the close of
business on December thirty-first. The annual meeting shall be held at
such time in January as the by-laws may provide. Special meetings may
be held by order of the directors or of the supervisory committee or at the
request of ten per cent, of the members. Notice of all meetings shall be
given in the manner provided in the by-laws. A member shall have but
one vote, irrespective of the shares held. No shareholder may vote by
proxy but a society, association, co-partnership or corporation having mem-
bership in the credit union, may be represented by one person authorized
by said society, association, co-partnership or corporation to represent it.