CH. 89] LAWS OF THE THIRTY-SECOND GENERAL ASSEMBLY. 4. Bonds, mortgages and other interest bearing securities being first liens upon real estate within this state or any other state, worth at least double the amount loaned thereon and secured thereby exclusive of improvements, or two and one-half times such amount including the improvements thereon, if such improvements are constructed of brick or stone; but no such improvements shall be considered in estimating the value unless the owner shall contract to keep the same insured in some reliable fire insurance company or companies authorized to do business in the state, during the life of the loan, in a sum at least double the excess of the loan above one-half the value of the ground exclusive of the improvements, the insurance to be made payable in case of loss to the company or association investing its funds, as its interest may appear at the time of loss. All such securities shall be deposited with the auditor of state subject to his approval, and shall remain with him until withdrawn in accordance with the provisions of this act. Any fraternal beneficiary society, order or association receiving payments or partial payments on any securities deposited with the auditor of state, shall notify him of such fact giving the amount and date of payment within fifteen (15) days after such payment shall have been made. The officers of any society, order or association which fails to report the receipt of payments or partial payments as above provided shall be liable to a fine in double the amount collected and not reported within the time and in the manner above specified. Any society, order or association required to make a deposit with the auditor of state as herein contemplated, shall at the time of making such deposit, designate by what provisions of its articles of incorporation or laws such fund is accumulated and upon making request for withdrawal of any funds shall designate for what purpose such withdrawal is desired. Any society, order or association, may at any time change its securities on deposit by depositing a like amount in other securities of the same character and the auditor of state shall permit a withdrawal of the same upon satisfactory proof in writing filed with him that they are to be used for the purpose for which they were originally deposited. The auditor of state shall have authority to suspend or revoke the certificate of authority of any society, order or association failing to comply with any of the provisions of this act or for violating the same. Approved February 14, A. D. 1907. CHAPTER 89. INVESTMENT OF FUNDS OF FRATERNAL BENEFICIARY ASSOCIATIONS. S. F. 261. AN ACT to amend Senate File No. 22, as passed by the Thirty-second General Assembly February 8, 1907, and approved February 14, 1907, providing for the investment of funds of fraternal beneficiary societies, orders or associations. Be it enacted by the General Assembly of the State of Iowa: SECTION 1. Certain benevolent associations excepted. That senate file No. 22, passed by the Thirty-second General Assembly and approved February 14, 1907, be amended by adding thereto the following: "Nothing in this act shall be construed to apply to any association organized solely for benevolent purposes and composed wholly of members of any one occupation, guild, profession or religious denomination." Approved March 26, A. D. 1907. LAWS OF THE THIRTY-SECOND GENERAL ASSEMBLY. CHAPTER 90. INDEBTEDNESS OF STATE AND SAVINGS BANKS. S. F. 74. [CH. 91 AN ACT limiting the indebtedness of state and savings banks and repealing section eighteen hundred and fifty-five (1855) of the code. Be it enacted by the General Assembly of the State of Iowa: SECTION 1. Repealed. Section eighteen hundred and fifty-five (1855) of the code, be, and the same is hereby repealed. SEC. 2. Indebtedness. State and savings banks may contract indebtedness or liability for the following purposes only; for necessary expenses in managing and transacting their business, for deposits, and to pay depositors; provided, that in pursuance to an order of the board of directors previously adopted, other liabilities not in excess of amount equal to the capital stock may be incurred. SEC. 3. Acts in conflict repealed. All acts or parts of acts in conflict with this act, are hereby repealed. SEC. 4. In effect. This act, being deemed of immediate importance, shall take effect and be in force from and after its publication in the Register and Leader and the Des Moines Capital, newspapers publishd in Des Moines, Iowa. Approved April 3, A. D. 1907. I hereby certify that the foregoing act was published in the Register and Leader and the Des Moines Capital, April 4, 1907. W. C. HAYWARD, CHAPTER 91. PAY OF AND LOANS TO OFFICERS OF STATE AND SAVINGS BANKS. H. F. 107. AN ACT to repeal section eighteen hundred sixty-nine (1869) of the code relating to pay of, and loans to, officers of state and savings banks and to enact a substitute therefor. Be it enacted by the General Assembly of the State of Iowa: SECTION 1. Repealed-pay of and loan to officers. That section eighteen hundred sixty-nine of the code be, and the same is, hereby, repealed, and the following enacted in lieu thereof: "Officers of savings and state banks may receive for their services a reasonable compensation, to be fixed from time to time in the by-laws, or by vote of the board of directors, but no director, as such, shall be paid for his services. No officer or employe of the bank shall in any manner, directly or indirectly, use its funds or deposits, or any part thereof, except for the regular business transactions of the bank, and no loan shall be made by it to any of them except upon the express order of the board of directors, made in the absence of the applicant, duly entered in the records of the board proceedings, and only upon the same security as required of others. But the board of directors may, by resolution, duly entered in the records of the board proceedings, authorize loans to directors not holding any other office nor being an employe, not exceeding a maximum sum at any one time, which resolution shall be voted upon in the absence of such director and any such loan shall CH. 93] LAWS OF THE THIRTY-SECOND GENERAL ASSEMBLY. be upon the same security as required of others. Any such officer or employe of the bank violating any of the provisions of this section shall be guilty of embezzlement and shall be imprisoned in the penitentiary not exceeding ten years, or fined in a sum not less than the amount embezzled, or by both fine and imprisonment, but nothing in this act shall prevent or defeat the right to recover upon any note or notes given in violation of its provisions.' Approved March 23, A. D. 1907. AN ACT to amend section eighteen hundred and seventy-three (1873) of the code relating to publication of reports of banks. Be it enacted by the General Assembly of the State of Iowa: SECTION 1. Reports-how published. Amend section eighteen hundred and seventy-three (1873) of the code by inserting between the words "daily" and "or" in lines seven (7) and nine (9) thereof, a comma, and the words "semi-weekly, tri-weekly". Approved March 12, A. D. 1907. CHAPTER 93. UNITED STATES LEVEES. S. F. 104. AN ACT to amend section five (5) of chapter eighty-three (83) of the acts of the Thirty-first General Assembly, section nineteen hundred and eighty-six (1986) of the code as amended by section six (6) of chapter eighty-three (83) of the acts of the Thirty-first General Assembly, and section nineteen hundred and eighty-five (1985) of the code, and to amend chapter two (2) of title ten (X) of the code, relating to United States levees, as amended by chapter eighty-three (83) of the laws of the Thirty-first General Assembly, to promote the public health, convenience and welfare, by leveeing, ditching and draining the lands of the state, and providing for the assessment and collection of the costs and expenses of the same, and issuing improvement certificates, or issuing and selling bonds therefor. Be it enacted by the General Assembly of the State of Iowa: SECTION 1. Assessment. Section five (5) of chapter eighty-three (83) of the laws of the Thirty-first General Assembly is hereby amended by striking out the words "two and one-half mills" in the second line and inserting in lieu thereof the following: "shall not exceed fifty mills", and by striking out the period after the word "valuation" in the third line and adding the following: "which said assessment shall be levied at a level rate on the assessable value of the said lands, easements and railroads within the district." SEC. 2. Cost of maintaining. Section nineteen hundred eighty-six (1986) of the code as amended by section six (6) of chapter eighty-three (83) of the laws of the Thirty-first General Assembly, is hereby amended by striking out the words "three mills" and inserting in lieu thereof "fifty mills". LAWS OF THE THIRTY-SECOND GENERAL ASSEMBLY. [CH. 94 SEC. 3. Bonds. That section nineteen hundred eighty-five (1985) of the code be, and the same is, hereby amended by adding the following to said section: "If the amount of money required for the improvement under the provisions of this chapter cannot be collected in one year, or if the board of supervisors in their discretion deem it advisable that the taxes shall be paid in installments, or in case it becomes necessary to expend an extraordinary sum for the preservation of the levee in case of an emergency, the board of supervisors of the county shall have the power to issue bonds for all which cannot thus be provided for in one year substantially [in] the manner and form as provided in section twenty-eight (28) of chapter sixty-eight (68) of the laws of the Thirtieth General Assembly and acts amendatory thereto, and all acts and proceedings in relation thereto shall conform therewith, except that bonds issued in anticipation of taxes for the maintenance of a levee shall not exceed five years' taxes and shall be due in six years from the date of issue." Claims for repairs. Whenever a levee or drainage district is organized, the board or boards of supervisors, as the case may be, shall have power and authority to audit and allow claims for money and labor expended in the preservation of said levee prior to and since the organization of the said district; all sums so allowed to be payable from the levee or drainage fund. The said board or boards shall also have full power and authority to make an equitable adjustment of and credit for any taxes paid for repairing the levee where the same has been heretofore levied and collected in any manner by said board or boards of supervisors under any prior proceedings. SEC. 5. In effect. This act, being deemed of immediate importance, shall take effect and be in force from and after its publication in the Register and Leader and Des Moines Capital, newspapers published in the city of Des Moines, Iowa. Approved March 19, A. D. 1907. I hereby certify that the foregoing act was published in the Des Moines Capital, March 21, 1907, and the Register and Leader, March 22, 1907. W. C. HAYWARD, CHAPTER 94. LEVEES, DITCHES, DRAINS AND WATER COURSES. S. F. 8. AN ACT to amend the law as it appears in chapter sixty-eight (68), acts of the Thirtieth General Assembly, and in chapter eighty-five (85) of the acts of the Thirty-first General Assembly in relation to levees, ditches, drains and water courses. Be it enacted by the General Assembly of the State of Iowa: SECTION 1. Engineer to examine lands-returns. That the law as it appears in section two (2), chapter sixty-eight (68), of the acts of the Thirtieth General Assembly is hereby amended by striking out all of said section two (2), after the word "hands", in line sixteen (16) and inserting the following in lieu thereof: "And he shall proceed to examine the lands described in said petition and any other lands which would be benefited by said improvement or necessary in the carrying out of said improvement, and survey and locate such drain or drains, ditch or ditches, improvement or improvements, as may CH. 94] LAWS OF THE THIRTY-SECOND GENERAL ASSEMBLY. be practicable and feasible to carry out the purposes of the petition and which will be of public benefit or utility or conducive to public health, convenience or welfare. He shall make return of his proceedings to the county auditor, which returns shall set forth the starting point, the route, the terminus or termini of the said ditch or ditches, drain or drains, or other improvements, together with a plat and profile showing the ditches, drains or other improvements, and the course and length of the drain or drains through each tract of land and the elevation of all lakes, ponds and deep depressions in said district, and the boundary of the proposed district, and the description of each tract of land therein and names of the owners thereof as shown by the transfer books in the auditor's office, together with the probable cost, and such other facts and recommendations as he may deem material. The board of supervisors may at any time recall the appointment of any engineer made under the provisions of this act, if deemed advisable to do so, and select another to act in his place." SEC. 2. Notice of hearing-fees and mileage for serving notice. That section three (3) of said chapter is hereby amended by striking out the period after the word "served" in line fifteen (15) and inserting a comma in lieu thereof and adding thereto the following: "provided, however, no notice shall be served by the auditor upon any of the persons hereinbefore described who shall file with said auditor a statement in writing signed by said party entering his appearance at said hearing and waiving any additional notice. The officer or person serving said notice shall receive five cents per mile for the distance actually traveled and not exceeding five dollars per day of eight hours for making said services." SEC. 3. Permanent survey. That section four (4) of chapter eighty-five (85) of the acts of the Thirty-first General Assembly is hereby amended by adding after the word "located" and before the word "and", in line six (6) of said section the following: "showing the levels and elevations of each forty acre tract of land." SEC. 4. Changes in dimensions. That section eleven (11) of chapter sixty-eight (68) of the acts of the Thirtieth General Assembly is hereby amended by striking out all of said section after the word "recommend” in line eight (8) and adding thereto the following: "provided that all persons whose lands shall be taken or who may be damaged by the said change, shall first have been given like notices and like proceedings had as hereinbefore proIvided for the establishment of the levee or drainage district." SEC. 5. Pumping stations. That said chapter sixty-eight (68) of the acts of the Thirtieth General Assembly is hereby amended by adding the following thereto : "The board of supervisors of any county or counties in the state in which a drainage or levee district has been or may hereafter be organized as provided in this act may provide as a part of said drainage system for the establishment and maintenance of a pumping station or stations, when and where the same may be necessary to secure a proper outlet for the drainage of the land comprising the said district and the cost of construction and maintenance of said pumping station or stations shall be levied upon and collected from the lands in the drainage or levee district in the same manner as provided for in the construction and maintenance of ditches or drains or levees in this act." SEC. 6. Proceedings under petitions heretofore filed. That said chapter is hereby further amended by adding thereto the following: "Whenever any petition has heretofore been filed and any action thereon has been taken by the board of supervisors that is not final, it shall not be necessary that a new petition shall be filed in order to obtain the benefits of |