teen, entitled "An act in relation to banking corporations, and individuals, partnerships, unincorporated associations and corporations under the supervision of the banking department, constituting chapter two of the consolidated laws," as amended, is hereby amended to read as follows: $290. Incorporation; organization certificate; amount of capital stock. When authorized by the superintendent of banks, as provided by section twenty-three of this chapter, five or more persons may form a corporation to be known as an investment company. Such persons shall subscribe and acknowledge and submit to the superintendent of banks at his office an organization certificate in duplicate which shall specifically state: 1. The name by which the investment company is to be known. 2. The place where its business is to be transacted. 3.1 That the investment company is, or is not, being organized for the purpose of exercising the powers set forth in subdivisions four and five of section two hundred and ninety-three of this chapter. 4.2 The amount of its capital stock and the number of shares into which such capital stock shall be divided, which capital stock shall amount to not less than one hundred thousand dollars, except that, if such investment company is being organized for the purpose of exercising the powers conferred by subdivisions four and five of section two hundred and ninety-three of this chapter, it may have a capital stock of not less than twenty-five thousand dollars if the place where its business is to be transacted is a city or village the population of which does not exceed fifty thousand, and a capital stock of not less than fifty thousand dollars if the place where its business is to be transacted is a city the population of which exceeds fifty thousand but does not exceed one hundred and fifty thousand. 5. The full name, residence and post-office address of each of the incorporators and the number of shares subscribed for by cach. 6.5 The term of its existence, which may be perpetual. 7. The number of its directors, which shall not be less than five, 1 Subd. 3 new. 2 Formerly subd. 3. 3 Remainder of subdivision new. Formerly subd. 4. 5 Formerly subd. 5. Formerly subd. 6. and the names and addresses of the incorporators who shall be its directors until the first annual meeting of stockholders. Such certificate may provide for the manner in which the stock of the corporation may be transferred and for the number of direc tors necessary to constitute a quorum. § 2. This act shall take effect immediately. Chap. 228. AN ACT to amend the banking law, in relation to investment companies. Became a law April 20, 1917, with the approval of the Governor. Passed, three-fifths being present. The People of the State of New York, represented in Senate and Assembly, do enact as follows: Section 1. Subdivision five of section two hundred and ninetythree of chapter three hundred and sixty-nine of the laws of nineteen hundred and fourteen, entitled "An act in relation to banking corporations, and individuals, partnerships, unincorporated associations and corporations under the supervision of the banking department, constituting chapter two of the consolidated laws," as added by chapter one hundred and thirty-nine of the laws of nineteen hundred and fifteen, is hereby amended to read as follows: 5. To impose a fine of five cents for each default in the payment of one dollar or fraction thereof at the time any periodical installment upon a certificate assigned as collateral security for the payment of a loan made pursuant to subdivision four of this section becomes due, provided, however, that such fines shall not be cumulative; 'that the aggregate of such fines collected in connection with any such loan of fifty dollars or less, or any renewal thereof, shall not exceed fifty cents, and that the aggregate of such fines collected in connection with any such loan of more than fifty dollars, or any renewal thereof, shall not exceed one per centum of such loan and shall in no event exceed five dollars. 2. This act shall take effect immediately. 1 Remainder of subdivision formerly read: "that no such fine shall be imposed for more than four successive defaults and that the aggregate of such fines collected in connection with any such loan or renewal thereof shall not exceed one dollar." Chap. 229. AN ACT to amend the town law, in relation to the care of certain burial grounds in towns. Became a law April 20, 1917, with the approval of the Governor. Passed, three-fifths being present. The People of the State of New York, represented in Senate and Assembly, do enact as follows: 1909, ch. 63, amended Section 1. Section three hundred and thirty-two of chapter L sixty-three of the laws of nineteen hundred and nine, entitled "An 232, as act relating to towns, constituting chapter sixty-two of the consoli- by L. 1909, dated laws," as amended by chapter four hundred and seventy- amended. three of the laws of nineteen hundred and nine, is hereby amended to read as follows: § 332. Title to burial grounds; care and control. The title to every lot or piece of land which shall have been used by the inhabitants of any town in this state as a cemetery or burial ground for the space of fourteen years shall be deemed to be vested in such town, and shall be subject in the same manner as other corporate property of towns, to the government and direction of the electors in town meeting. In any town in which trustees of burial grounds have not been chosen as provided in sections three hundred and thirty and three hundred and thirty-one of this chapter, the town board may adopt regulations for the proper care of any such cemetery and burial ground and regulating the burial of the dead therein. It shall be the duty of the supervisor of any such town to remove the grass and weeds from any such a cemetery or burial ground in any such town at least twice in each year, and to erect and maintain suitable fences around such cemetery or burial ground at a cost not to exceed fifty dollars unless authorized by a majority vote of such town. 'The town board of any town must also provide for the removal of grass and weeds at least twice in each year from any cemetery or burial ground, by whomsoever owned, in such town, where such control is not vested by other provisions of law in the town or in trustees or other corporate body and provide for the preservation, care and fencing of any such cemetery, all at a cost not to exceed fifty dollars in any one year, unless authorized by a majority vote of such town, and such duties shall be performed under the supervision of the supervisor of the town, 1 Remainder of section materially amended. ch. 473. L. 1909, § 290, as ch. 841, or a person whom the town board may designate; provided, however, that such duties shall not be exercised in respect to any private ground or particular lot or lots therein after the true owner or owners thereof file written objections thereto with the town clerk. The cost and expenses of any officer or person in performing any duties under or pursuant to the provisions of this section, shall be a town charge and shall be paid in the same manner as other town charges. § 2. This act shall take effect immediately. Chap. 230. AN ACT to amend the public health law, in relation to the business and practice of undertaking. Became a law April 20, 1917, with the approval of the Governor. Passed, three-fifths being present. The People of the State of New York, represented in Senate and Assembly, do enact as follows: Section 1. Section two hundred and ninety of chapter fortynine of the laws of nineteen hundred and nine, entitled "An act by L. 1911, in relation to the public health, constituting chapter forty-five and L. 1912, of the consolidated laws," as amended by chapter eight hundred amended. and forty-one of the laws of nineteen hundred and eleven and chapter seventy-one of the laws of nineteen hundred and thirteen, is hereby amended to read as follows: ch. 71, The § 290. Board of embalming examiners; compensation. board of embalming examiners of the state of New York is continued. The members of said board now in office shall continue in office until the expiration of their respective terms. The board shall consist of five members appointed by the governor, each of whom shall serve for a term of three years. Any vacancies occurring in said board shall be filled by the governor, for the unexpired term. The governor may remove from office any member of said board of examiners for continued neglect of any of the duties imposed upon him by this article, or for incompetency or improper conduct. No person shall be eligible to appointment as a member of said board unless he shall have had an experience of at least five years as undertaker and1 embalmer, and be2 duly undertaker and " new. Words a practical" omitted. 2 Words "and be" new. 1 Words 66 3 licensed in each capacity. Each member of said board shall receive an annual salary of two hundred dollars and in addition thereto all necessary expenses incurred in the performance of his duties. The secretary shall receive an annual salary of one thousand dollars in addition to his salary as a member.* amended § 2. Section two hundred and ninety-one of such chapter, as § 291, as amended by chapter seventy-one of the laws of nineteen hundred by L. 1913, and thirteen, is hereby amended to read as follows: § 291. Corporate name; powers and duties of board. Said board shall be known by the name "board of embalming examiners of the state of New York." Every person appointed to serve on said board shall receive a certificate of his appointment from the governor of the state of New York, and within fifteen days after receiving such certificate, shall take, subscribe and file, in the office of the secretary of state, the oath prescribed by the thirteenth article of the constitution of the state of New York. The board may adopt a common seal and shall elect from its membership a president and secretary. Said board shall ascertain what constitute the best tests for determining whether life is extinct, and shall prescribe the using of such tests, before embalming, as they may deem necessary; and all persons thereafter embalming the dead shall apply such tests prescribed before injecting any fluid into any body. Said board by its presiding officer may issue subpoenas and administer oaths to witnesses, and a quorum of said board, which shall consist of not less than three members, and any committees thereof, is hereby authorized to take testimony concerning matters within its jurisdiction. Said board shall, from time to time, make and adopt rules, regulations and by-laws not inconsistent with law, whereby the performance of the duties of said board and the transaction of the business and the practice of embalming and undertaking shall be regulated and performed, subject to the approval of the state department of health. A certified copy of any of said rules and regulations, attested as true and correct by the secretary of said board of embalmers, shall be presumptive evidence of the regular making, adoption and approval thereof. The said board may investigate all alleged violations of the statutes relating to embalming and undertaking, and of all rules and regulations adopted as provided 66 3 Words "in each capacity" substituted for words as such." 4 Sentence omitted which read: "the salaries provided for in this section, however, shall be payable only from the money's collected and received by said board as provided in this article." ch. 71, amended. |