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12. Any councils of the Degree of Pocahontas of the Improved Order of Red Men, duly chartered and instituted according to the rules and regulations of The Great Council of New York State, Degree of Pocahontas of the Improved Order of Red Men;

13. The State Camp of New York of The Patriotic Order Sons of America and any subordinate camps of the Patriotic Order Sons of America duly chartered and instituted according to the rules and regulations of the State Camp of New York of the Patriotic Order Sons of America;

14. Any commanderies of the Knights of Malta, chartered by and instituted according to the general rules and regulations of the Supreme Grand Commandery of the Ancient and Illustrious Order of Knights of Malta;

15. Any sisterhoods of the Dames of Malta, Ladies of the Order of Saint John, Ancient and Illustrious Order, Knights of Malta, Continent of America, chartered by and instituted according to the general rules and regulations of the Zenodacia of the Dames of Malta;

16. Any number of posts of the American Legion chartered and installed according to the regulations of that organization; 17. Any number of trades unions, trades assemblies, trades associations or labor organizations;

18. Any number of subordinate lodges, tribes or other bodies of any benevolent or fraternal order or society incorporated under and pursuant to the laws of this state;

19. Any subordinate lodges within the state, chartered by and installed according to the general rules and regulations of the United States Grand Lodge, Independent Order Brith Abraham of the United States of America;

20. Any of the benevolent or fraternal orders or societies, or their subordinate bodies, enumerated in this section;

May unite in forming a corporation, providing they do not hold membership in a similar organization, for the purpose of acquiring, constructing, maintaining and managing a hall, temple or other building, or a home for the aged and indigent members of such order and their dependent widows and orphans, of acquiring, constructing, maintaining and managing an asylum, home or school for the free education of the orphans and children of the worthy, aged and indigent members of the bodies so uniting and of creating, collecting and maintaining a library for the use of the bodies uniting to form such corporation, or for any of such purposes, but the membership of any such lodge, chapter, commandery, consistory, council, temple, grotto, post, tent, nest, camp, encampment, or canton will be dependent upon its continued 5 Word " 'posts" substituted for word "chapters."

9

6 Subd. 19 new.

7 Subd. 20 new.

8 Words "of acquiring, constructing, maintaining and managing an asylum, home or school for the free education of the orphans and children of the worthy, aged and indigent members of the bodies so uniting," new.

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allegiance to the governing body by whom it was chartered, installed, and under whose general rules and regulations it exists. Each body hereafter uniting to form such corporation shall at a regular meeting thereof, held in accordance with its constitution and general rules and regulations or by-laws, elect one or more members10 thereof for a term of either one, two or three years, as the rules, regulations and by-laws of the body may prescribe, to represent it in such corporation. If the bodies, uniting to form such corporation, do not exceed thirty in number, then each representative so elected shall be a trustee of said corporation, and shall make and file in the office of the clerk of the county where such building is, or is to be located, a certificate of such election signed and acknowledged by the highest two officers of the body electing him, stating the time and place of the election, its regularity, the name of the trustee, and the name of the body from which he was elected. If the bodies uniting to form such corporation shall exceed thirty in number then the representatives elected as hereinbefore provided, shall assemble annually at a time and place fixed by the constitution, by-laws, rules and regulations of the corporation, and shall elect from amongst themselves a president, vice-president, secretary and treasurer, each of whom shall be ex-officio trustees of the corporation, and not less than nine nor more than twenty-four other trustees. Each of the bodies uniting to form such corporation shall elect not more than three representatives, "who shall be clected in the manner above prescribed and whose certificate of election shall be made and filed in the manner and form above prescribed. The trustees so elected shall make, acknowledge and file with the secretary of state a certificate stating the name of the corporation to be formed, and indorsed thereon the written consent of the grand body to which it is subordinate, if so required by the general rules and regulations of such superior body, its purposes and objects, the names and places of residence of the trustees, the names of the bodies which they respectively represent, the names of the bodies uniting to form the corporation and their location, and the name of the town, village or city and the county where such building is, or is to be located; and thereupon the several bodies so uniting shall be a corporation for the purposes specified in such certificate.

§ 3. This act shall take effect immediately.

10 Words "

one or more members" substituted for words 66 a member." 11 Sentence to here formerly read: "In case six or less bodies unite to form such corporation, the number of trustees to be elected from each body shall not be less than one or more than three."

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CHAPTER 383

AN ACT to amend the banking law, in relation to the amount of the guaranty fund of credit unions.

* Became a law April 8, 1925, with the approval of the Governor. Passed, three-fifths being present.

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The People of the State of New York, represented in Senate and Assembly, 2 do enact as follows:

8 457

Section 1. Section four hundred and fifty-seven of chapter L. 1914, three hundred and sixty-nine of the laws of nineteen hundred and ch.369, fourteen, entitled "An act in relation to banking corporations, and amended. individuals, partnerships, unincorporated associations and corporations under the supervision of the banking department, constituting chapter two of the consolidated laws," is hereby amended to read as follows:

§ 457. Guaranty fund; how created and regulated. Every credit union shall create a guaranty fund which shall in no case exceed the capital of the corporation, plus fifty per centum of its other liabilities, and which shall be held to meet contingencies until the corporation is dissolved, when it may be distributed among the shareholders.

Such guaranty fund shall be created and regulated as follows: 1. All entrance fees, transfer fees and fines remaining after the payment of organization expenses shall be set aside to such fund. 2. At the close of each fiscal year twenty-five per centum of the net earnings of the corporation for the year shall be carried to such fund, provided that, upon the recommendation of the board of directors, the shareholders, at the annual meeting, may increase or, if such fund equals or exceeds its capital, may decrease the proportion of net earnings to be thus set aside, 1and provided further that when, at the beginning of a fiscal year, the guaranty fund exceeds fifty thousand dollars, the directors may in their disEcretion reduce the amount to be carried to such fund to a sum which, added to the amount already in the fund, will equal ten percentum of the total sum due to the members on shares and deposits. 3. Any sums recovered on items previously charged to it shall be credited to such fund.

Losses incurred by a credit union may be charged to its guaranty fund.

§ 2. This act shall take effect immediately.

1 Remainder of subd. 2 new.

§ 293a added to L, 1914, ch. 369.

Tit. 12A

added to L. 1914, ch. 217.

CHAPTER 384

AN ACT to amend the banking law, in relation to the application by investment companies of collateral securities to the payment of promissory notes.

Became a law April 8, 1925, 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. Article seven of chapter three hundred and sixtynine 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," is hereby amended by inserting therein a new section to follow section two hundred and ninety-three, to be section two hundred and ninety-three-a, to read as follows:

§ 293-a. Application to the payment of promissory notes of certain collateral securities. Whenever to secure the payment of a promissory note made to an investment company there shall be deposited with such company a chose in action or other evidence of indebtedness issued by such, company, such company shall if default be made in the payment of the note so secured, receive and apply to the payment of such note the reasonable value of the security so pledged, or of the equity therein to which the pledgor thereof is entitled; and in any action instituted by such company against the maker, comaker or surety on such promissory note, to recover upon the same, such company shall show by its complaint the amount so applied against the payment of such promissory

note.

§ 2. This act shall take effect immediately.

CHAPTER 385

AN ACT to amend the charter of the city of Buffalo, in relation to the children's court.

Became a law April 8, 1925, 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. Chapter two hundred and seventeen of the laws of nineteen hundred and fourteen, entitled "An act to provide a charter for the city of Buffalo," is hereby amended by inserting therein a new title to be title twelve-a, to read as follows:

TITLE 12-A.

THE CHILDREN'S COURT OF BUFFALO.

Article I. Organization; jurisdiction.

II. Preliminary procedure,

III. Hearings; adjudications.
IV. General provisions.

ARTICLE I.

ORGANIZATION; JURISDICTION.

Section 344-a. Court established.

344-b. Judge.

344-c. Election and qualifications of judge.
344-d. Removal of judge and filling of vacancies.
344-e. Compensation.

344-f. Clerks and other employees; appointment and re-
moval.

344-g. Oaths of office.

344-h. Appointment, removal and compensation of probation officers.

344-i. Powers and duties of probation officers.

344-j. Police officers ex-officio, marshals.

344-1. Temporary absence of judge.

344-m. Definitions.

344-n. Jurisdiction; 1. Children - 2. Adults.
344-0. Adults; period of probation.

§ 344-a. Court established. The children's court is hereby created and established with the criminal jurisdiction hereinafter # provided.

I § 344-b. Judge. There shall be one judge of said court. He I shall not be allowed to hold any other public office or carry on any business, but shall devote his whole time and capacity, so far as public interest demands, to the duties of his office.

§ 344-c. Election and qualifications of judge. The judge of the #children's court of Buffalo now in office shall continue in such office until the expiration of his term and shall possess all the powers and perform all the duties provided in this act. There shall be elected at the general election in nineteen hundred and thirty-one a judge of this court for the term of ten years and his successor shall be elected for a like term of ten years. Any resident elector of the city of Buffalo shall be eligible to election.

§ 344-d. Removal of judge and filling of vacancies. The appellate division of the supreme court, fourth department, may remove the judge of this court, giving to such judge a copy of the charges against him and an opportunity of being heard in his defense. Vacancies occurring in the office of judge of this court by reason of death, resignation or removal from office shall be filled by the mayor of the city of Buffalo, who shall appoint a person qualified under the provisions of this act as judge of said court, until the first day of January succeeding the holding of an election at which such vacancy could be filled. At the first election at which such vacancy could be filled a judge shall be elected for the unexpired term of the judge by whose death, resignation or removal from office the vacancy was caused.

§ 344-e. Compensation. The annual salary of the judge of this court and the salaries of all clerks, officers, attendants and employees shall be fixed by ordinance of the common council of the city of Buffalo, such salary to be paid in monthly installments, and

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