§ 284. Agreement; filing and provisions thereof. The agreement when\napproved by the superintendent of financial services shall be executed\nby the savings banks parties thereto and filed in his office. The\nagreement may be executed in any number of counterparts, all of which\ntaken together shall constitute the original. The agreement shall name\nthe trustee and contain suitable provisions for the removal or\nresignation of the trustee, or if the trustee named be a board of\ntrustees, for the removal or resignation of any or all of them, and for\nthe appointment of a successor trustee or for the filling of vacancies\nin such board of trustees, whether caused by death, resignation,\ndisqualification or removal; it shall also provide the amount of the\ninitial contributions to the fund a
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§ 284. Agreement; filing and provisions thereof. The agreement when\napproved by the superintendent of financial services shall be executed\nby the savings banks parties thereto and filed in his office. The\nagreement may be executed in any number of counterparts, all of which\ntaken together shall constitute the original. The agreement shall name\nthe trustee and contain suitable provisions for the removal or\nresignation of the trustee, or if the trustee named be a board of\ntrustees, for the removal or resignation of any or all of them, and for\nthe appointment of a successor trustee or for the filling of vacancies\nin such board of trustees, whether caused by death, resignation,\ndisqualification or removal; it shall also provide the amount of the\ninitial contributions to the fund and the manner of making subsequent\ncalls, and may contain such limitations thereon as the superintendent\nshall approve, but all such initial contributions to the fund and\npayments pursuant to further calls shall be made ratably by all the\nmember banks in proportion to their several deposit liabilities, except\nthat the superintendent of financial services may exempt from any such\ncall in whole or in part any member bank or banks the condition of which\nmakes such exemption in his opinion desirable; it may also provide for\nthe liquidation of the fund pursuant to rules and regulations for that\npurpose acceptable to the superintendent of financial services, provided\nthat on any such liquidation the liabilities incurred or assumed by the\ntrustee pursuant to the provisions hereof shall first be paid and the\nbalance, if any, be distributed among the member banks pro rata\naccording to their contributions; and the agreement may similarly\nprovide for the change or amendment thereof with the approval of the\nsuperintendent of financial services and with such approval may be\namended in such manner as may be provided therein; and the agreement\nshall also define the powers of the trustee, which may be all or any one\nor more or the powers hereinafter set forth, together with any\nadditional powers not inconsistent with the powers herein enumerated or\nwith the purposes of the fund, set forth in the agreement.\n