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Les diagrammes suivants illustrent la m^thode. 1 2 3 1 2 3 4 5 6 »w CITY BUILDING ■|^ ■^»^N^»^»^M»^^*N*W»*^^*^>^^«^^ ^ ' — — ———— — — — — i - | j i . ,i _ ii r i _/ fc f i j I i ~>r » Incorporated by an Act of Provincial Legislature. the purpose of assistinpf the raenhers of the so- ciety in the acquisition of Freehold and Leasi>hold PROPERTr and in the removal of incumbrances or liabilities upon property already held hy them, and to enable them to receive the amount of their shares in advance on furnished good mortgage security. PRINTED BY EAU & MARCOTTE, No. 29, Buade Street, Upper Town, QUEBEC. 1856. i^Ty^'^ir^^rsSV^e^rmW^^r^^^^r^WS^ (Pli^^ m^ -fy ^T/ 77' ~^ -T^" ^"^^ /^" "f" ^^ I I Bl Incorj } J CITY BUILDING ^\1,1 1^ «^^^^^^^»^^^>^^^*^ * Incorporated by an Act of Provincial Legislature. For the purpose of assisting the menhcrs of the so- ciety in the acquisition of Fkeehold and Leasehold Pbopertt and in the removal of incumbrances or liabilities upon property already held by them, and to enable them to receive the amount of their shares in advance «pon furnished good mortgage security. PRINTED BY BUREAU & MARCOTTE, No. 29, Buade Street, Upper Town, QUEBEC. 1856. rf 11 7b tncourc WHER] year SDse of en ing Soci ' expedient Societies : habitants desirous visions of the Queei with the Council a Province by virtue passed m dom of ( An Act tt Lower C nada^ am of the sa twenty p Canada J selves a signed a hands ar and inte Building same wi Court of 12 Victoria, Cap. 57. AN ACT 7b encourage the establishment of huUding so- cietiei in Lower Canada. *^5tli April, 1849. WHEREAS an Act was passed in the ninth year of Her Mujestys Reign, for the pur- pose of encouraging the establishment of Buil- ding Societies in Upper Canada, and it is expedient to encourage the formation of similat Societies in Lower Canada, whenever the In- habitants of any particular locality may ba desirous of availing themselves of the rro- visions of this Act: Be it therefore enacted by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legislative Council and of the Legislative Assembly oi the Province of Canada, constituted and assembled bv virtue of and under the authority of an Act passed in the Parliament of the United King- dom of Great Britain and Ireland, intituled: An Act to re-unite the Provinoe of Upper and Lower Canada, and for the Government (f Ca- nada, and it is hereby enacted by the authority of the same, That when and so soon as any twenty persons or upwards in any part of Lower Canada shall have agreed to constitute them- selves a Building Society, and shall have signed and executed, under their respective hands and seals, a declaration of their wish and intention so to constitute themselves such Buildin^y Society, and shall have deposited the same with the Clerk or Prothonotary oftue Court of Queen's Bench of the District whe- Preambule. When twenty p«ri3ns shall agree to con- stitute a Buil- ding Society, they shall be a Corporation for that pur- Eose, after aving com- piled with cer- tain formali- ties. rein such Building Society is to be formed, and to have its principal Office or Place of Business, (who for receiving such deposit shall be entitled to receive a fee of two shillings and six pencej such persons and such other per- sons as may afterwards become members of such Society, and their several and respective heirs, executors, curators, administrators, suc- cessors, and assigns, shall be ordained, cons- tituted and declared to be, and shall be a Corporacion, body corporate and politic, by such name and style as a Building Society, as by such declaration so deposited as aforesaid, shall have been declared to be the name by which the persons so executing the same, desire su'^h Society » be known, for the purpose of raising by monthly or other periodical subs- criptions of the several members of the said Society, and in shares not exceeding tht value of one hundred pounds for each share, (such subscriptions not to exceed twenty shillings per month for each share,) a stock or found for the purpose of enabling each member thereof to receive out of the funds of the said Society the amount of value of his share or share& therein, to erect or purchase one or m.ore dwelling house or houses, or other freehold or leasehold estate, and to la secured by way of mortgage or otherwise to the said Society, until the amount or value of his share or shares shall have been fully paid to the said Society, with the interest thereon, and with all fines or liabilities incurred in respect thereof; and that, it shall and may be lawful to and for the seve- ral members of such Society, from time to time, Society may ^^ assemble together, and to make, ordain and maks rules, constitute such proper and wholesome Rules ^^' and Regulations for the government and gui- dence^f the s; ne, as the major part of the members thereof so assembled together shall deem me gnant to to the £ Lower C reason abl the sever shall of ft majority respectiv the said Rulessha amend n require, < make ne reslrictic Provided entitled 1 ty any ir other per in the sa of his shi except o accordin in force. II. Ai be lawfi hnve an hers, su Bonus 01 of receiv same l)e share or without thereof imposed by any ] to IJsur' III. I ety shal appoint Society )e formeu, • Place of 3pc)3it shall illiriKS and other per- embers of respective itors, suc- fied, cons- ihall be a politic, by Society, as aforesaid, name by ime, desire purpose of ical subs- f the said : tht value ire, (3uch '' shillings ■ found for or thereof id Society or shares 5 or more echold or y way of iety, until lares shall iety, vi^ith 1 fines or J and that. ■ the seve- le to time, )rdain and rae Rules i and gui- ut of the ither shall 3 deem meet, so as such Rules shall not be repu- gnant to the exp»-es3 provisions of this Act, or to the general laws of this Province or of Lower Canada; and to impose and inflict such reasonable fines, penalties and forfeitrires upon the several members of the said Society who shall offend against any such rules, as the majority of the members may think fit, to be respectively paid to such uses for the benefit of the said Society, as the said Society by such Rulessball direct ; and also from time to time to amend nnd alter such rules "^3 occasion may require, or annul or repeal the same, and to make new rules in lieu thereof, under such reslricticns as are in this Act cctitained : Provided. *hat no member shall receive or be entitled to receive from the funds of ^ .^h Socie- ty any inteiest or dividend by way of annual or other perio(^ leal profit upon any share or shares in the said Society, until the amount or value of his share or shares shall have been realized ; except oii the with drawal of such m^ember according to the rulesof the said Society then in force. II. And be it enacted, That it shall and may be lawful to and for every such Society to hnve and receive from any member or mem- bers, such sum or sums ot money by way of Bonus on any share or shares, for the privilege of receiving the same in advance prior to the same l)eing realized, besides interest for the share or shares so received or any part thereof, without being subject or liable on account thereof to any of the forfeitures or penalties imposed by any Act or Acts of Parliament or by any Laws in force in Lower Canada relating to Usury. III. And be it enacted, That eachsucli Soci- ety shall and may from time to time, edect arid appoint any number of the members of the said Society to be a Board of Directors, (who shall May impose 6nus on ii'cm- ber3, &c. Proviso as to Dividends, &c Society may receive money by way of BONUS with- out being lia- ble under the Usury Laws. Society to elect from time to time a liuard of Di- rectors. ifi Certain pow- ers may be as signed to the Direct' 5. Quorum. Proviso: Record of transa**tinnsto he ke^t, &t'. Rules to de- dare purposes for which {So- ciety is estab- lishment, kc. choose a President and Vice President,) the ' number and qualification thereof to be declared in the Rules of such Society; and shall and may delegate to such Directors all or any of the powers given by this Act tc be executed ; and such Directors being so elected and appointed, shall continue to act for and during such time as shall be appointed by the Rules of such Soci- ety ; the powers of such Directors being first declared in and by the said Rules ; and in all cases where Directors shall be appointed for any particular purpose, the powers delegated to them shall be reduced to writing, and entered in a book by the Secretary or Cleric of the said Society; and a majority of the number of such Directors, present at any meeting thereof, shall at all times be necessary to concur in any act of such Directors, and they shall in all things delegated to them, act for and in the name of such Society; and all acts and orders of such Directors, under the powers delegated to them, shall have the like force and effect as the acts and orders of such Society at any General Meeting thereof could or might have had in pursuance of this Act ; Provided always that the transaction of such Directors shall be ente- red in a book belonging to such Society, and shall from time to timeanr' at all times be sub- ject and liable to the review, allowance and disallowance, of such Society, in such manner and form as such Society shall by their General Rules have directed and appointed, or shall in like manner direct and appoint. IV. And be it enacted, That every such So- ciety so established as aforesaid, shall in or by one or more of their said Rules, declare all and every the interests and purposes for which such Society is intended to be established ; and shall also in and by such Rules direct all and every the uses and purposes to which the money which st I paid or gi '' said Soci( in any w shall be a shareo or si stances, a I person, s" I same or i i applicatic I pugnant I such Soci |afbresaid i nuance 01 I enforced J or given, I of the sa I not be d I Treasure] I member < under su( I shall by I offence. ^ V. An I managen I entered i i that pur] I seasonab I bers of s I containe( I alteratioi J in the v ''t Rules fb; • such raai shall froi k VI. A time to i ;. ment of i as aibre lident,) the be declared shall and r any of the n.uted ; and appointed, such time 'such Soci- being first and in all )pointed for lelegated to ind entered of the said ber of such icreof, shall in any act 1 all things le name of 2rs of snch jd to them, as the acts ly General ive had in Iways that ill be ente- )ciety, and les be sub- vance and ch manner ?ir General or shall in y such So- il in or by are all and vhich such ; and shall and every he money which shall from time to time be subscribed, i paid or given to or for the use or benefit of the i said Society, or which shall arise therefrom or I in any wise shall belong to the said Society, shall be appropriated and applied ; and in what fshareoor proportions, and under what circum- ■ stances, any member of such Society, or other ^ person, shall or may become entitled to the same or any part thereof; Provided that the application thereof shall not in any wise be re- pugnant to the uses, interests or purposes of such Society, or any of them to be declared as aforesaid ; and all such Rules during the conti- ^nuance of the same shall be complied with and ^enforced ; and the moneys so subscribed, paid ; or given, or so arising to or for the use or benefit \ of the said Society or belonging thereto, shall I not be diverted or misapplied either by the I Treasurer or Directors, or any other oflicer or ! member of such Society entrusted therewith, under such penalty or forfeiture as such Society > shall by any rule enforce and inflict for such offence. V, And be it enacted, That the Rules for the . management of every such Society shall be I entered and recorded in a book to be kept for ■ that purpose, which book shall be open at all seasonable times for the inspection of the mem- bers of such Society, but nevertheless nothing contained herein shall extend to prevent any alteration in or amendment of any such Rules in the whole or in part, or making any new Rules for the management of such Society, in such manner as by the Rules of the said Society shall from time to time be provided. VI. And be it enacted, That all Rules from time to time mado and in force for the manage- ment of such Society and entered and recorded as aforesaid, shall be binding on the several _ /^ Proviso as to purposes to which moneys may be ap- plied, &c. Rules to be recorded in a book kept for that purpose, and open to members. Rules to be binding on Members and Officers of So- ciety. Rules to be altered, &c., at General Meet- ings only. Rules to spe- cify place of meeting. Director* to appoint Offi- sers of So- ciety. members and ofSceas of the said Society, and the several contributors thereto, and their repre- sentatires, all of whom shall be deemed and taken to have full notice thereof by such entry arid record as aforesaid ; and the entry of such rules in the book or books of the said Society as aforesaid, or a true copy of the same, exami- with the original and proved to be a true copy, shall be received as evidence of such Rules respectively, in all cases. VII. And be it enacted, That no Rule ente- red as aforesaid shall be altered, rescinded or repealed, unless at a General Meeting of the Members of such Society, convened by public notice written or printed, signed by the Secre* tary or President of the said Society in pursuan- ce of a requisition for that purpose by not less than fifteen of the Members of such Society, which requisition shall state the ohjects for which the meeting is called, and shall be addressed to the President and Di/efctorsi whereupon each member shall be notified of thi, proposed alterations through the Post Oflice, within fifteen days ; such meeting to consist of not less than one-third of the shareholders, three fourths of which meeting must concur in such alterations or repeal. VIII. And be it enacted. That the Ru les of every such Society shall specify the place or places at which it is intended that the said Society shall hold its meetings, and shall con- tain provisions with respect to the powers and duties of the members at large, and of such offi^ cers as may be appointed for the management of the affairs of the said Society. IX. And be it enacted, That the Directors of every such Society shall and may from time to time at any of their usual meetings, elect and appoint such person or persons to be Officers of the said Socie'ty as they shall think proper, and |i*ant sue deem fit attendin, as may time to necessat the said such pui by the I time to and ele< those w ged ; an person ' any ofii( the rece sum of 1 said So take up( or trust, form ani determi just an( tfust, ar accordii in all t same. X. A be law: hold ai hondjui to the paymei membe loans o; such S< mortga for the ociefy, and their repre- eemed and such entnr itry of sucn aid Society me, exami- i true copy, 8uch Rules Rule ente- escinded or ting of the i by public the Secre* in pursuan- by not ies3 ih Society, objects for i shall be Bi/efctoTS i notified of ?ost Office, to consist areholders, ; concur in e Ru les of i le place or ! t the said shall con- lowers and : fsuchoffi^ magement i rectors of >m time to elect and Officers of roper, and plant such awilariesand emoluments as they may deem fit, and pay sUch necessary expenses attending the management of the said Society as may be incurred ; and shall and may from time to time elect, when it shall be deemed necessary to carry into execution the purposes of the said Society, for such space of time and for such purposes as shall be fixed and established by the Rules of the said Society, and may from time to time discharge such person or persons, and elect and appoint others in the room of those who shall vacate or die or be so dischar- ged ; and all and every such officer of other officers to person whatsoever who shall be appointed to give flecurity* any office in any wise touching or concerning the receipt, management or expenditure of any sum of money collected for the purposes of the said Society, before he shall be admitted to take upon him the execution of any such office or trust, shall become bound in a bond in such form and for such amount rs the Directors may determine, with two sufficient sureties, for the just and faithful execution of such office of tfust, and for rendering a just and true account according to the Rules of the said Society, and in all matters lawful, to pay obedience to the same. X. And "be it enacted, That it shall and may sacieiv may be lawful for eVery such Society to take and take and hold hold any real estate, or securities thereon, real estate, &c L^/^ mortgaged, assigned or hypothecated ^^r^ ^o to the said Society, either to secure the ,,^^,.6 payment payment of the shares subscribed for by its of shares, members, or to t^zme the payment of any loans or advances made by, or debts due to such Society, and may also proceed on such mortgages, assignments or other securities, for the recovery of the monies thereby secured, r otherwise- and 8 that sudh Society shall have the power of in* Investtnent of vesting in the names of the President and taoneys. Treasurer for the time being, any surplus funds in the stocks of any of the Chartered Banks or other public securities of the Province, and that all dividends, interest and proceeds arising therefrom shall be brought to account and applied to and for use of the said Society according to the Rules thereof. Mode of pro- XI. And be enacted, Tiiat if any person ^'^^Offf ^^f° ^PP°^"^^^ ^° ^"y office by such Society, and Se Sodaty^ heing entrusted with and having in his hands thall die or or possession^ by virtue of his said office, any become inaol- monies or effects belonging to such Society, or Vent. any deeds or securities relating to the same, shall die or become bankrupt or insolvent, his heirs, exe3utors, curators, administrators or assigns or other person having a legal right, shall, within fifteen days after demand made by the order of the Directors of such Society, cr the major part of them, assembled rt any meeting thereof, deliver over all things belong- ing to the said Society, to such persons, as the said Directors shall appoint, and shall pay out of the estates, assets or effects ofsu«h persons, all sums, of money remaining due which such person received by virtue of his said office, before any of his other debts are paid or satisfied, and all siich asset, estates and effects shall be bound to the payment and discharge thereof accordingly ; Provided always, that the same be not paid or satisfied to the pre- judice of mortgages or privileges on real estate, or of liens or privileges on personal estate only, duly executed previous to the appointment of such officer. Property of XII. And be it enacted, That all real and the Society heritable property, monies, goods, chattels and tested in the ^£r^^4. i-_* _ .. j _ii a"i._ .,. o President and ^"^^'^ ^"*"^^"^''"^' """ uuus, securmes for Treasurer for ^ioney or other obligatory instruments and thetime being. 'roviso. levidences < iwhatever, 'to or had t ithe Preside jfor the tim ■the said S ^thereof, th rators, adi their respe death or r shall vest surer for t former Pr and subje assignmei shall for t criminal : wise touc med and proceedin the prop offices ( ' said Soci names ( without : shall, am or defenc any actic as civil, cerniug of or be I and in a or claim and be s proper ii of the st and no disconti t persons '^ ofPresi vet of in- dent and y surplus Chartered Province, proceeds :o account I Society ly person ciety, and his hands ffice, any ociety, or he same, ilvent, his •ators or fal right, ,nd made I Society, I ft any js belong- ns, as the II pay out L persons, lich such id office, 5 paid or ad efFecta discharge ays, that the pre- lal estate, tate only, tment of real and ttels and rities for mts and 'evidences or muniments, and all other effects '^whatever, and all rights and claims belonging -to or had by such Society, shall be vested m Itbe President and Treasurer of the said Society ^for the time being, for the use and benefit ot the said Society, and the respective members ^thereof, their respective heirs, executors, cu- ^rators, administmtors or assigns, according to their respective claims and interests,and alter the death or removal of any Pipsident orTreas-irer, shall vest in the succeeding President and Irea- surer for the same estate and interest as the former President and Treasurer had therein, and subject to the same trusts, without any assignment or conveyance whatever ; and also shall for all purposes of action or suit, as well criminal as civil, in law as in equity, in any wise touching or concerning the same, be dee- med and taken to be, and shall in every such proceeding (when necessary) be stated tx) be, the propertv of the persons appointed to the offices of President and Treasurer of the ' said Society for the time being, in the proper ■ names of such President and Treasurer, without further descriptions, and such persons shall, and they are hereby authorised to bring or defend or cause to be brought or defended any action, suit or prosecution, criminal as well as civil, in law or in equity, touching or con- cerning the property, right or claim aforesaid, of or belonging to or had by the said bociety, and in all cases concerning the property, right or claim aforesaid of the said Society may sue and be sued, plead and be impleaded in their proper names as President and Treasurer of of the said Society, without other description, and no such suit, action or prosecution shall be discontinued or abated by the death of such persons or their removal from the othces of President or Treasurer, but shall continue m And shall be deemed their property for certain pur- poses. Presiuent and Treasurer may hring actions, &c. 10 As to their successora. Secretary, a competent >vitne8S. Non-liability of the Presi- dent, &c. Treasurer to prepare yearly a Statement of the funds of the Society. Particulars. Attestation, the proper name of the persons commencing the s"me, any law, usage or custom to the contrary notwithstanding; and the succeeding President and Treasurer shall have the same rights and labilities, and shall pay or receive like costs as if the action or suit or prosecution had been commenced in their names, for the benefit of or to be satisfied out of the fmids of the said Society. XIII. And be it enacted, That in all such ac- tions, suits and prosecutions aforesaid, the Secretary of such Society shall be a competent witness, notwithstanding he may also be Treasurer of the said Society, and that his name may have been used in such action, suit or prosecution as such Treasurer. XIV. And be it enacted, That the President, Vice-President and Directors of every such Society, shall in their private capacity be ex- onerated from all responsibility in relation to the liabilities of such Society. XV. And be it enacted. That the Rules of every such Society, shall provide that the Trea- surer or other principal Oflicer thereof shall once at least in every year prepare or cause to be prepared a general statement of the funds and efl^ects of and belonging to the said Society ; specifying in whose custody or possession the said funds or effects shall then be remaihing, together with an account of all and every the various sums of money received and expended by or on account of the said Society since the publication of the preceeding periodical sta- tement ; and every such periodical statement shall be attested by two or more members of the said society appointed Auditors for that purpose, who shall not be Directors, and shall be countersigned by the Secretary or Clerk of the said Society, and every member shall be fUtitled to Cf such per XVI. A] herein cont effect or ir privileges ( tiing Socie eighth yea tuled, An individual. Montreal a to effect sa XVII. J «< Lower-( tood to me lormerly c Canada ; part of th( tituted th the word include ai Institutioi ;and authc to include lations ; c number s! persons oi thing, am viduals ; number s person or things ; j culine ge to a fem " Real El moveabh the word to privile legal.) h „ and imrr 11 ommencing torn to the succeeding e the same T or receive prosecution nes, for the le funds of all such ac- resaid, the L competent ay also be at his name tion, suit or 3 President, 3very such ity be ex- relation to 5 Rules of it the Trea- ereof shall or cause to the funds id Society ; session the remaiiiing, every the I expended y since the ^dical sta- statement lembers of s for that and shall r Clerk of r shall be futitled to receive from the said Society a copy t)f such periodical statement without charge. XVI. And be it enacted, That nothing herein contained shall effect or be construed to effect or interfere with any of the rights or privileges conferred upon the <* Montreal Buil- ding Society," under the Act passed in the eighth year of Her Majesty's Reign, and inti- tuled, An Act for the incorporation of certain ^individttals under t}ie name and style of " The Montreal Building Society ^ *' nor in any wise to effect said Act. XVII. And be it enacted, That the words «* Lower-Canada" in this Act shall be unders- tood to mean that part of the Province which formerly constituted the Province of Lower- Canada ; the words '< Upper-Canada" that part of the said Province which formerly cons- tituted the Province of Upper-Canada ; and the word "Society" shall be understood to include and to mean Building Societies and ^Institutions established under the provisions 'and authority of this Act ; the word « Rules " to include Rules, Orders, By-Laws and Regu- lations ; every word importing the singular number shall extend and be applied to several persons or things as well as one person or thing, and bodies corporate as well as indi- viduals ; and every word importing the plural number shall extend and be applied to one person or thing as well as several persons or things ; and every word importing the mas- culine gender only, shall extend and be applied to a female as well as a male ; the words *' Real Estate" shall extend and apply to im- moveable estate and property generally; and the word « Securities" shall extend and apply to privileges, mortgages, (equitable as well as leffal.^ hvvotheoues and incumbrances upon real and immoveable estate, as well as to other Saving of the rights of the 3Iontreal Buiding Society, and of the Act 8 V. c. 94. Interpretation clause. 12 tend. Public 4ct. i rights and privileges upon personal estate and To whom this V^^V^^^Y '• That this Act shall extend to aliens, Act sliall ex- denizens and females, both to make them sub- ject thereto and to entitle them to all the bene* fits given thereby ; and that this Act shall be construed in the most beneficial manner for promoting the ends thereby intended. XVIII. And be it enacted, That this Act shall be deemed a Public Act, and shall extend to all Courts of Law or Equity in this Province, and be judicially taken notice of as such by all Judges, Justices and other persons what- soever without the same being specially shown or pleaded. 14 & 15 Viotoria, Cap. 23. AN ACT To amend an Act to encourage the establish* ment of Bvdldinfr Societies in Lmjoer Ca- nada* [2nl August, 1851.] Whereas in the tenth Section of the Act 12 Vic C.57. P^^*^^ ^^ ^^® Session held in the twelfth year 'of Her ^Majesty's Reign, and intituled, An act to encourage the establishment of Building Societies in Lower Canada, it is amongst other things provided, "That it shall and may be ** lawful for every such Society to take and hold *' any real estate or securities thereon, bond, fide '* mortgaged, assigned or hypothecated to the ** said Society, either to ^penre the payment of ** the shares subscribed for by its members, or " to secnre the payment of any loans or advan- ces made by or aebtg due tv> sucli Society r' and m; N( assignn et -~ ;" very o: J" at law i whereas, 'the Court as Lower means to clause, di expedient pect to th force the ; themselve Society t belonging at the tir vanced, £ such prop Be it the Excellent consent o. liegislati-^ Canada, i ■of and un the Parli .Great Bri ko re-unix Canada, and it is 1 same, Th Act, whe received hypothec, real estal the paym an autho: real estat< lated nun (as ever) estate and id to alienS) I them sub- II the bene* Let shall be nanner for d. .t this Act hall extend s Province, IS sncli by sons what- ally shown 23. *.e establish/' Lotver Co- 51.] of the Act velfth year ed, An act Building ongst other d may be le and hold n, bon&Jide ited to the Dayment of lembers, or 5 or advan- a Society, 13 ^' and may also proceed on such mortgages, « assignments or other securilies for the reco- « very of the monies thereby secured, either <' at law or in equity, or otherwise;" And whereas, owing to the forms of procedure in the Courts in that part of the Provinne, known as Lower Canada, and from the want of proper means to carry out the provisions of the said clause, difficulties may occur ; and it is also expedient that no doubt should exist with res- pect to the power and legality of carrying into force the stipulations of the share '^ Iders among themselves, or as to the power of every such Society to loan money on property actually belonging to any member thereof, before and at the time at which any momes may be ad- vanced, as well as for the actual purchase of :«uch property and erection of building thereon: ;;Be it therefore enacted by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legislative Council and of the ^liCgislative Assembly of the Province of iCanada, constituted and assembled by virtue of and under the authority of an Act passed in the Parliament of the United Kingdom of ♦Great Britain and Ireland, and intituled. An act to re-unite the Provinces of Upper and Lower Canada, and for the Government of Canada^ and it is hereby enacted by the authority of the same, That from and after the passing of this Act, whenever any such Society shall have leceived from any shareholder a mortgage or iiypothec, or an assignment or transfer of any real estate belonging to him or her, to secure the payment of any advances, and containing an authority to the said Society to sell such real estate in case of non-payment of any stipu- lated number of instalments or sums of money (as every such Society is hereby and by the B Certain agree- ments for the sale of pro- perty hypo- thecated to any Building Society, de- clared valid. u Action to enforce the same. What it shall be sufficient to alle£»e in any such action. What only need be pro- ved to main- tain such action. Advertise- ment and sale of the proper- ty- said Act was authorized to do,) and r-ontainiug also authority and power to tlie said Society to apply the ])ioceeds of such sale to the pay- ment of the advances, interest and oil other charges due to the said Society, and after per- fect payment thereof and of all costs and expenses incident thereto, to pay over the balance to the owner of such estate, such stipu- lations and agreement shall be valid and ellec- tual and binding to all intents and purposes whatsoever, and it shall be luwful for every such Society to cause the same to be enforced and executed by an action or proceeding in the usual course in any Court of Law within that pare of this Province called Lower Canada, havirg compete rft jurisdiction, and such action may be brought in the corporate name of any sucli Society, or in the names of the President and Treasurer of any such Society, describing them to be such President and Treasurer. II. And be it enacted. That in any action or proceeding to be instituted by any such Society for the purpose of realizing or bringing to sale any property or estate hypothecated, mortga- ged or assigned to the said Society, by any person or persons as aforesaid, it shall not be necessary to set forth the special matter in the declaration, but it shall be sufficient to allege that the defendant hypoehecated, mortgaged or assigr-d (as the case may be) the real es- tate, des«.iibing the same, to the said Society, and that the amount, or sufficient part of the amount stipulated by such party to be paid, has become and remains due and owing, whereby by virtue of this Act and of the Act hereby amended, an action hath accrued to the said Society, to have the said estate and property sold ; and in order to maintain such action, it shall be sufficient, in addition to the customary evidence of the hypothec, mortgage 16 "ontaining id Society the i>ay- oll other after per- costs and over the inch stipii- and efiec- 1 purposes for every ! enforced ing in the 'ithin that r Canada, ich action ne of any President describing jrer. action or h. Society ng to sale , mortga- , by any ,11 not be ter in the to allege mortgaged ! real es- i Society, ■t of the 3 be paid, :1 owing, »f the Act :crued to state and ain such on to the uiortgage or nssigninent of such properly or est!\te, to prove by any one witness, whether in the employment of, or a shareholder in such So- ciety or not, or by any other menus, that the defendant is in arrear and indebted to the said Society in or exceeding a sum on the accruing of which, by the terms of such hypothec, TnortgagCj nssignment or agreement, the said Society may have the right to have the said property or estate sold ; and thereupon the Court shall give judgment for the said amount, and by such judgmt "it order the jiroperty to be sold by the Sheriti'of the District wherein it may be, after three insertions in the course of four months in the Canada Gazette; and it shall not be necessary for the Sheriff to go through any formalities in seizing the said lands or otherwise ; but all the laws of that part of the Piovince called Lower Canada, vi^ith lespect to the protection of immoveable property under seizure, and with respect to the filing of oppositions to, and after the sale of lands or immoveable property, to the payment, return and distribution of the money, to the re-sale of such immoveable property at the fol/e enchere of any purchaser, and to the ob- taining possession of any such immoveable property after sale, shall be applicable to the proceedings authorized by this Act ; and the provisions of all laws and ordinances of Lower ^'ertain pro- i-, 1 f.,11 • n • 1 1- ii 1 visions exten- Canada, or of this Provmce, regulating the sale j^j ^^ of real estate, and the judicial proceedings proceedings relative thereto, are, in so far as applicable and under this not otherwise provided for by this Act, hereby A*^*- extended to all proceedings to be had under this Act; and if it be not otherwise herein directed, all such proceedings, in so far as may be, shall be conducted in like manner as proceedings under ordinary Writs of Execution; and the deed to be given by the Sheriff shall 16 Proviso : Sheiifls poun (lage. Forfeituro of slinrt's on whicli instal- ments are not paid Doubts under Sects, 1 and lUcfthe mended Act. recited. The said doubts remo- ved. havfi the like effect ds a deed given under ar ttrr^'y^ll-^^'^f ^"^^■^" ' Provided al way , to 1 i. r f '''"^^ -^the IJistrict slmll, in addition to li,s disbursements, be entitled to deduct only Unc per centum comission from the ijross i.ro- ceedsofsale. ° ^ nJiH' i^!!'^, ^^ '* ^^cted, That every such So- forfeited to the said {Society, the shares of any meuiber who rnay neglect or be m a.rear to pay .such number of instalments as may be or are fixed by any stipulations, or by law j and that every sue. Society may pursue the same course, exercise the same power, and use tlie same remedies to enforce the payment of any debt or demand due to such Society, as any person or persons, body corporate or politic, may now by aw take or uso for such piirpose. IV. And vherea.s, doubts have arisen as to the construction of the first and tenth Sections ot the Act hereby amended, with respects to the right of any such Society to loan and ad- vance money on property and estate, actually belonging to and acquired by the borrow es, at the time of such borrowing and advance, and 1 IS expedient to remove such doubts : Be it therefore enacted and declared, and it is there- fore dec ared to have been and to be the inten- tion of he said Act, That every such Society siic-ld have the power to advance, and every such fcociety is hereby authorized to advance in the usual manner, monies on any real estate wh-itso3ver of any member of the said Society, as wc]. for the actual purchase of the same and '-Lhcerecaon of buildings thereon, as gene- rally upon the security of any real estate be- longing to any such member at r *^ time of his borrowing such monies, and to ike and re- ceive a mortgage, hypothec or assiynment of all such real estate whatsoever in security for oucii adv with the wther rea Act authi " liypothec securities ccd in til valid anc and pur] .manner i: bU or an; Jlher capi to becom that copa fehares th viduals. , V. An be a publ .notice of fpersoiis \ pleaded. «' n under an tied always, , in addition [led net only '■ gross i)ro- ry such Se- nd declare ires of any I. airear to I may be or • by law J pursue the ir, and use payment of ety, asany or politic, h purpose, irisen as to li Sections espects to 1 and ad- e, actually ■Twv, es, at ^ance, and fs; Be it it is there- the inten- li Society uid every 3 advance •eal estate 1 Society, same and as gene- state he- me of his and re- niiient of Mirity for 17 isuch advances, on the some conditions and with the same privileges in all respects as any other real estate by the said Act, and by tljis iAct authorized and "cquired to be mortgaged, jhypotliecated or assigned ; and further, that all tsecurilies heretofore, taken for monies advan- fccd in the manner above mentioned, shall be valid and binding on the parties to all intents and purposes whatsoever, and in the same .manner as if taken under this Act; and that Anj person jbUi or any person or persons whosoever, whe- ">■ corporation 5|her capitalists or otherwise, shall be at liberty ™ejjber"^f to become members of any such Society ; and any s„ch bo- that copartners and corporate bodies may hold ciety. fehares therein, iu same manner as single indi- viduals. !( V. And be it enacted, That this Act shall Public Act. >be a public Act, and such be judicially taken .notice of by all Judges and Justices, and other persons whomsoever, without being specially pleaded. b2 18 i 12 V. c. 57. m h 18 Victoria, cap. lie. AN ACT To amend the Act for ike encouragement oj Building Societies in Lower Canada. [Assented to I'^th May, 1855.] Preambule. TTTHEREAS the great number of Share- yV holder in Building Societies oiXew ren- ders it difficult to obtain a meeting of one-third jf such Shareholders ; And whereas inconve- nierice arises from the manner in which such Societies are required to sue and be sued, and it is therefore expedient to amend the Act passed in the twelfth year of Her Majesty's Reign, intituled, An Act to encourage the esta- blishment of Building Societies in Lmver Ca- nada-. Be it therefore enacted by the Queen's Most Excellent Majesty, by and with the ad- vice and consent of the Legialative Council and of the Legislative Assembly of the Pro- . vince of Canada, constituted and assembled by virtue of and under the authority of an Act passed in the Parliament of the United King- dom of Great Britain and Ireland, and intituled. An act to reunite, the Provinces of Upper and Lower Canada, and for the Gcnernment of Canada, and it is hereby enacted by the au- thority of the 5 %me, as follows : I. So much of the seventh section of the said Act as provides that no rule shall be altered, rescinded or repealed, unless at a general mee- ting of the members of such Society, such meeting to consist of not less than one third of the Shareholders,— shall be and is hereby re- pealed. II. Provided always, that if more than one halfof the number of members of a Building I Society I neral m( f mendin« s the ruiei ? the tern limitatic 4 present, make ai i trary in I amendi] Part of sect. rei)ealed. How any Rule of a Building Society may 19 116. uragement oj Canada. 'ay, 1855.] r of Share- PS often ren- a; of one-third eas jnconve- which such be sued, and !nd the Act er Majesty's ^age the esta- i Lmver Ca- the Queen's with the ad- ive Council of the Pro- ^ ssembled by ty of an Act lited King- nd intituled, Upper and lernment of by the au- ra of the said be altered, sneral mee- ciety, such 3ne third of hereby re- I than one \ Building Society shall sign a requisition calling a ge- neral meeting of the Shareholders, and recom- mending a modification, recision or repeal of the rules of the said Society, and specifying the terms thereof, the said meeting, without limitation as to the number of Shareholders present, shall be and is hereby authorized to make and pass such modification, amendment, rescision or repeal. III. Notwithstanding any thing to the con- trary in the said Act or in any other Act amending the same, and specially the twelfth section of the said Act, such yociety, shall hereafter sue and be sued by the name and style declared in and by the declaration men- tioned in the first section of the said Act as that under which such Society shall be known. be repealed ox amended. Societies may sue by the name taken in their decla- ration under sect. 1 of 12 V. c. 57. 20 RULES OB" THB CITY BUILDING SOCIETY, T. — That the intents and purposes for which this Society is intended to be established, are, to assist the members thereof in the acquisition of freehold or leasehold property : and in the removal of incumbrances or liabilities upon pro- perty already held by them : and to enable them to receive the amount of their shares in advance, upon furnishing good mortgage security. 2. — That all monies which shall, from time to time, be subscribed, paid, or given to or for the use or benefit of the Society, or which shall in any wise belong to the Society, shall be appropriated and applied, in the first place, in loans or advances to the several members, and towards the necessary expenses of the So- ciety ; but no member shall be entitled to receive, by way of loan or advance, more than the amount of his share or shares subscribed for, except as hereinafter provided for : if not taken up among the members, any funds may be invested for the benefit of the Society in the stocks of any of the chartered Banks or other public securities of the Province. 3. — That the stock of the Society shall consist of shares of £100 currency each, paya- ble by monthly instalments of 10s. each share, on the fourth Mondy of each month. 4.W— That be under the of seven Di quorum,) w ; shares each, themselves Provided al I ^o out of of ^ manner, thi , day of the I wing that place, three . of office, ai office shall been electa and on the April, in t^ said Dire( who shall I Directors next smal second W every sub those wh( T re-electio two or m been the such of tl \ the smaV I of office ; ! rectors si number a majori which o then go place of by the e the ma I that ev( tation, < i 21 4_That the affairs of the Society shall be under the control and management of a board SsTven Directors, (of whom four shall be a ^?^ who shall hold not less than three rrreitand -ho shall choose from among Semselves a President and Vice-President Med'lways, that the said ^-f^rs^^^l ^.o out of office by rotation in the /db^^^^^«^^ &e and those who shall then go out of office shall he the Directors who shall have W elec ed by the smallest number of votes, a ,d on arsecmid Wednesday of ' »' »ie Dire ors ^^^ lO.—That extra Genera ivieeiiiJoS „. Society may be called by the Board of D.reo tors, u'pou the -^^^ .^'Sl^ef f o'thl^lse, meeting through " « J°'' ^'^'I'^^th^t vacancies at the discretion of the Board . ^ "*j , ,.„ in the board of directors by d^f ^' '"^'pnlied a a list shall be preserved) that he nas u elected to supply such vacancy. lastig'ote in'Lldition to his vote as a mem- ''"I'o That a Treasurer shall be appointed, .1 siK perform the ^U.tiesot Secretary r„d who, before entering "P°° ^-,°f ^'f the rifofD^Morter^^rmanceof his duties. Qpcretarv shall 13.— That the Treasurer becreiary be empowered to receive and pay all momes for and on behalf the society, and his receipt i I 24 He's'hJil u/soTe:,^a''casft^\' "?''"=-• jnonie. received a', i^ytentst^Z^'''' »» t>e reffularlv nn^ o... * made, are to monies as he shall receive '' "" ^"°'' ti.e'tIl"X,XXtte'on (or in case of his absence o InessoTihl' Vice-President,) and ol the Treasurer' ' thi:cTo'?;:il,tm,tt"a,i^ Tr^" *■" ^^^^^'-^ and tmnsactions om'e^ociet;!''' '""^^^''lag, shall'i;;TS?ered''!„rn^'"'i"f f ""^ S«'^'y such manner as ("fin '•" ^?.^.' '" '^<"^''> « from timetoturdifecrs"lh°"T'°'' "='y> s n-npf] Kir +1, ^ "^^eci . such entries to be cCia'l a weu'as tS/'^"^"^'''-'' »' surer. "^ "^ '">« Secretary Trea- eacMeholt Til b"'' f'""? • "'"^""'^ "^ book to be keprft.;';;;!' X'or " '" ^ '^^'^'^^ Inspe-cToSr^hotdutyll'shaU Ct °' '""^ and determiiiR H,» ,,li J , "® '° exam ne to the SocTety, a sect rtv fn'r ' ^^''^'^ <'«'^"='' oes.andlo report the, '^ ' '"^"^ or advan- ^nich reports t?be en.^LTr' ,!" ,^"""g = Society. " stored in the books of the bar of~he''soci:t?reC'''? ''T"''"S a mem- entrance fee of 2s 6d per share. ''"^ '"' in tltlSty^sha'rStr''", '"^'"^ ^''='^''' be kept for thit i^i^'ofe! ""'' '" " '''""' '» 25 [discharge. where all e, are to ; and ho all such wn frorr ['resident, >f of the ■ keeping 'ceedings Society detail, in Ts may, !S to be ident or ■y Trea- ibode of registry r more xamine offered advan- 'riting : of the mem- , lega- ay an shares 3ok to 21. — That every member shall, so long as he shall continue to be a member, and until the objects of the Society be attained, pay ten shil- lings per share per month, on or before the day appointed for that purpose; and in default thereof, shall pay a fine of 3d per share for the 1st month, 6d " '* 2nd month, Is « «' 3rd month, , doubling the fine for each succeeding month, till the expiration of the first six months, and af\er that time, if the same remains unpaid, such member shall be considered as withdrawn under the provisions of the 22nd Rule. 22. — That any member, being desirous of withdrawing from the Society, may, on giving one calender month's notice in writing to the Secretary, be allowed to do so ; and may re- ceive back (without interest) the net amount of his monthly subscriptions paid up, deducting any fines, interest or forfeitures that may be due, and also a forfeiture of twenty shillings per share. 23.— That each member changmg his lesidence shall, within one calender month thereafter, give notice in writing to the Secre- tary of such change, and of his new place of abode and address, and in default thereof be fined 2s. 6d. 24.— That a meeting shall be held on the fourth Monday of every month, for the dis- posal of such funds as the Society may have to lend or advance, of which due notice shall be given. 25. That each purchaser or borrower, at every such meeting, shall, on or before the next day, deposit with the Treasurer the sum of £2 10s., for each share so purchased or bor- rowed ; which deposit shall be forfeited unless >»A nrndncft. within ten days from the day of — r ' C 26 meeting, security satisfactory to the Board of Directors. T ^^:~'Jl}^^r^° property situate beyond the hmitsofthe District of Quebec, and seigniory ot Lauzon, be accepted as security for loans or advances to members of the Society. 27— That af^er inspection of the property proposed the purchaser shall, if the security be approved, execute a mortgage or transfer to the satisfaction of the Directors, and at his own expense, securing the monies advanced, with interest, and also the due payment of the ordinary monthly subscriptions, and any fines or forfeitures that may be incurred, and shall also bear the expenses of registration ; which mortgage shall contain a convenant by the mortgager to insure the buildings comprised therein, from loss or damage by fire, for the lull amount of the advance upon such buil- dings, and to assign over the Policy or Policies to the Society . 28.— That after such mortgage or transfer shall have been executed, together with such policies of insurance and other securities as the Directors may require, ihe mortgager shall at once receive the amount of the share or shares borrowed, purchased or advanced, deducting the bonus agreed to be paid thereon; or if one or more buildings be in progress of erection such amounL shallbe advanced upon one or more certificates from the Inspectors, and from time to time, as the Directors shall determine, according to the progress of the work. 29.--T:iat the Directors shall have power to renew, from time to time, already effected in- surances from loss by fire of all buildings, and to pay tho ground rents of all premises mort- gaged to the Society ; which naymcnts mnv hp. r 27 Board of (Tond the seigniory r loans or property curity be msfer to i at his ivanced, nt of the ny fines ind shall ; which by the unprised for the 5h buil- Policies transfer th such s as the shall at r shares ducting r if one rection, one or id from jrmine. )wer to ted in- ;s, and mort- nnv Via — J ^■^ made out of the funds of the Society, as such insurances and rents become due, and shall be charged to the mortgager, and repaid by him when the following monthly subscriptions fall due, in default whereof a forfeiture shall accrue to the Society of 20 per cent, upon the amount so paid. 30.-— That any person entering the Society after its commencement or formation (except as transferee, legatee, or legal representative,) shall pay the full amount of subscriptions which shall have been paid by the original shareholders from the date of such commen- cement ; those joining within six monhts shall pay interest upon such subscriptions, and those joining after that period, a proportionate bonus besides, according to a scale to be settled by the Directors. 31.— That any shareholder may transfer his share or shares by causing an entry of such transfer to be made in the books of the So- ciety, in such manner as the Directors may appoint, and upon payment of the sum of 2s 6d for each share so tiansferred ; and of all arrears then due, and thereupon the transferee (after sigmng the rules) shall be entitled to all the privileges of the original shareolder. 32.— That in case of the death of any mem- ber, the legatee or legal representative of such deceased member, shall before becoming en- titled to the privileges of an original share- holder, indicate his place of abode, and the particulars of his title to be registered in the books of the Society, and shall at the same time exhibit the will or probate thereof, (as the case may be,) for the inspection and satisfaction of the Directors, and pay for such registry the sum of 2s cd per share. 33. —That the directors elected at the for- rnntmn of tVip Societv. as Well as tliosc hcrc- *&&»-• WAV •« -^-^ -— — 'if -- 29 after to be elected, shall be indemnified out of the funds of the Society or otherwise, from all expenses in reference to the format on, conduct, and management of the Society. 34,. — That the Directors are empowered to allow to such shareholders who may be desirous of making an imn.ediate deposit of money ( at the rate of not less than £5 per share subscribed for,) for the purpose of meeting in advance their monthly dues, be allowed interest upon the amount so deposited at the rate of six per cent per annum, such interest to be carried to the credit of their account at the end of every twelve months. COVENANT. For the due observance and performance of all and every the foregoing Bye-Laws, Rules and Regulations, and of all and every the fu- ture Bye-Laws, Rules and Regulations, of "The City Building Society," we the members of th** said society, who have hereunto subscribed and set our hands and seals, do hereby severally, each for himself his Executors and Adminis trator!^, and not jointly or the one for the other, convenant and declare to and with the Presi- dent and Treasurer of the said society and their successors in Office, shat we and our several and respective Executor and Administrators shall and will well and truly observe, perform, fulfil and keep all and singulr^r, the said fore- going and future Bye-Laws, Rules and Regu- lations of the said society, which on our several and respective parts are, or ought to be, observed, performed, fulfilled and kept. r 1 t'