B—s

80

Documents to be submitted by Regional Banks yearly and periodically to National Office. V. Regional banks must submit to National Office— (1.) Quarterly —three copies of balance-sheet, floating balance, different loans. (2.) Yearly-—full report on previous year, in complete detail, — (a.) Full details affiliated local banks. Operations of all institutions in receipt of advances through mediumsliip regional bank. Form of account fixed by National Office. (6.) Certificate that accounts deposited in local Magistrate's office. (c.) Statement of properties held, showing price paid, and present value —depreciation or appreciation to be stated. (d.) Minutes of general meetings, especially the general meeting held in February, to consider years operations. (Two copies yearly, three copies quarterly.) Documents to be submitted by Local and Regional Banks. VI. Local banks will forward following to regional banks, certified by President or his Deputy : — (1.) Copy of regulations. (2.) Minutes of constitutional general meeting (as before). (3.) Subscribers (as before). (4.) Council of Administration and Inspection. (5.) Certificate of publicity; and also (a) balance-sheet and details, (6) certificate from Magistrate, (c) copy of minutes of general meeting. Regional banks may demand further proof regarding the application of borrowed moneys. Documents to be submitted yearly by Association referred to Article XXII. Those institutions mentioned in Article XXII who have received advances from the State must submit yearly to the National Office, and to the relative regional banks, all the documents mentioned in Article 111, (1) to (6) inclusive ; and in addition— (a.) Particulars of the previous year's operations ; balance of ledger account ; balance-sheet to 31st December of the previous year, showing in detail loans up to that date. (b.) Minutes of annual general meeting. (<?.) Report on the operations of the financial year, the institution for the current year. National Office and regional banks may demand additional particulars. VIII. Director-General responsible for execution of this decree. LAW AS AMENDED, JULY, 1923. To facilitate Formation of Co-operative Societies and Agricultural Societies of Common Interest. I. All agricultural co-operative societies and agricultural societies of common interest (paragraphs 1, 2, and 4, 1920 law), may constitute themselves either the regime of private civil societies provided by Article 1832, Civil Code, or under the law of 1867. All subsequent with reference to limited companies. All these institutions will be provided with civil personnel when constituted. 11. Applicable to societies constituted under paragraphs 1, 2, and 4 : The following rules, which for limited companies nullify Articles XXXIX, XXX, and XXXI of 1867, are already modified by the law of 1913 : — General meetings that have to discuss matters not mentioned hereafter must be composed of at least one-sixth of the total membership. Other forms as provided by the two following rules : Alterations to regulations must be decided by 50 per cent, of the total membership (proxies admitted). General meetings deciding important questions of the formation, finance, and the contributions, administration of the society, must be composed"of at least 50 per cent, of the subscribers of the social capital. Half of the members who must be present at such a meeting to verify the contributions must be composed of those members whose contributions are not to be verified. Provision in the event of no quorum. General meetings are not competent to alter regulations unless at least one-third of the total membership is present. Majority decisions at other meetings. Each member has the number of votes limited by regulations. 111. The two preceding articles will apply to societies constituted under the law of 1920 or 1906, provided the regulations are harmonized with the law of 1920. IV. Agricultural co-operative societies of common interest under Article I may, notwithstanding the date of their constitution, apply the law of 1920.