Be it enacted by the General Assembly of the Commonwealth of Kentucky. That Section five hundred and thirteen of the Kentucky Statutes, (Carroll's Edition of nineteen hundred and fifteen), be and the same is hereby amended and re-enacted to read as follows: Section 513. Cross-index of Conveyance to be Kept-Duty of Clerk Concerning. The clerk of each county court shall make and keep an alphabetical cross-index of all conveyances heretofore or hereafter recorded in his office; and he shall, when a mortgage or deed of trust, or any other conveyance, lease or contract is lodged in his office for record, at once, and before attending to any other business, place the names of the parties to the same upon the cross-index in his office, and shall, within six days thereafter, record the same; Provided however, that in counties wherein there has been created by law a court house district and provision made for appointment of commissioners in said district, the said commissioners may direct that the clerk of such county shall, in said district, in addition to the alphabetical cross-index, have made in books prepared for that purpose, general indexes to the records of all the real estate in said district, by placing under the heads of the original surveyed sections or surveys, or parts of a section or survey, squares, subdivisions, or lots, on the left page of such index book, first, a plat showing the survey, or part of section thereof, subdivision, square, or lots indexed on said page; second, the name of the grantor or grantors; third, next to the right the name of the grantee or grantees; fourth, the number and page of the record where the instrument is found recorded; fifth, the character of the instrument, to be followed by a pertinent description of the property conveyed by the deed, lease, or assignment of lease or other instrument of writing affecting the lot or land described; and on the opposite page, in like manner, all the mortgages, liens, or other encumbrances affecting said real estate; The clerk of such county shall, when so directed by said commissioner, prepare the proper specifications for said additional indexing system to bring up and complete said system to the date said new system shall be installed; He shall advertise for bids for said work under the specifications prepared and shall, with the approval of the said commissioners, enter into a contract with the lowest and best bidder for said work and shall, before entering into contract with the successful bidder, require him to give bond for the faithful performance of said contract in a sum to be fixed by the said commissioners and said bond to be approved by said commissioners. The cost or expense of said work shall be paid by said commissioners out of the funds of said court house district. When general indexes, such as herein provided for are brought up and completed, they shall constitute the official indexes and the clerk of the county shall keep up the same by indexing in said general indexes within one month from the time they are lodged for record, and when so indexed the alphabetical cross-index of such instruments need no longer be preserved; and when such records or any part of them, become defaced or injured, the clerk shall transcribe the same into new books, which shall be as valid in law, as the original record, and transcript therefrom shall be received and taken as of the same force and effect; the cost of such transcription shall be paid for out of the funds of said court house district. Neither approved nor disapproved. CHAPTER 143. AN ACT relating to domestic stock fire insurance companies, permitting such companies to issue shares of stock in ten dollar certificates and validating such as may have been heretofore issued. Be it enacted by the General Assembly of the Commonwealth of Kentucky. 1. No stock fire insurance company shall be incorporated under the laws of this State with a smaller capital stock than fifty thousand dollars, which stock may be divided into shares of not less than ten dollars each. 2. All certificates of stock heretofore issued by domestic stock fire insurance companies in good faith of the par value of ten dollars each are now ratified and validated as though same had been issued after the passage of this act. Provided, however, that nothing in this act shall be construed as altering existing laws pertaining to mutual, reciprocal or any other co-operative fire insurance company, association or exchange. 3. All laws or parts of laws in conflict herewith are hereby repealed. Neither approved nor disapproved. CHAPTER 144. AN ACT entitled an Act to amend Sections 854 to 878 both inclusive of the Kentucky Statutes of 1915 compiled by the Hon. John D. Carroll and to regulate the organization, incorporation, operation and management of building and loan associations, creating the Department of Building and Loan Associations in the office of the Banking Commissioner and providing for the appointment of examiners and prescribing their duties and for the examination of all building and loan associations organized and doing business under the laws of this Commonwealth. Be it enacted by the General Assembly of the Commonwealth of Kentucky. 1. That Sections 854 and 878 both inclusive, of the Kentucky Statutes of 1915 compiled by the Hon. John D. Carroll be amended by striking out the whole thereof of said sections and in lieu thereof, there shall be inserted the following, so that said sections as amended shall read as follows: Section 854. Definition. A building and loan association to be entitled to the benefits of this act, and to be known and designated as such, shall receive payments from members only and make loans to members only on the plan herein set forth. Such associations organized under the laws of this state shall be known as "domestic" associations, and those organized under the laws of any other State or territory shall be known as "foreign" associations. Section 854a. How Incorporated. Any number of persons, not less than nine, who are residents of this State may associate themselves together for the purpose of organizing a mutual building and loan association and for that purpose they shall make, sign and acknowledge before some person authorized by the laws of this State to take ac knowledgments of deeds articles of association in writing which shall state: 1st. The name adopted by said association which shall not be the same as, nor similar to the name of any other association incorporated in this State and the words "Building Association" shall form a part of the name. 2nd. The purposes for which the association is formed. 3rd. The name of the city or town and county in which its principal office or place of business is to be located. 4th. The amount of its authorized capital stock; the number of shares into which it is divided the par value of each share and the number of shares subscribed for, which shall not be less than two hundred in cities, towns or villages of fewer than five thousand inhabitants and five hundred shares or more in cities, towns or villages of five thousand inhabitants or more. 5th. The names and places of residence of each of its incorporators and the number of shares subscribed by each. 6th. The time when it is to commence business and the period it is to continue. 7th. By what officers or persons the affairs of the corporation are to be conducted and the time and place at which they are to be elected. 8th. Whether the private property of the stockholders not subject by the provisions of the law under which it is organized shall be subject to payment of corporate debts, and if so, to what extent. Section 854, b. Filing Articles-Power and Duty of Banking Commissioner. Before filing the articles of incorporation of any proposed association in the office of the county clerk in the county in |