Show I I I CHANGES INSTATE IN L STATE LOAN LAWS ASKED Present Statutes in Need of Revamping Pix- Pix ton Declares The building and loan Ioan laws should be amended or better an entirely new code ode Seth state bank banle commissioner says In his biennial report to the governor for the time period from June 1 1926 to June 30 1928 The small loan act i Is unworkable unworkable un-ork- un able Mr says in Its present resent form and should be bo amended amend ed or repealed pealed I have hae spent pent some sometime sometime time with the commission com com- mission considering the time laws applicable ap aim- to such institutions My recommendations will be incorporated incorporated incorporated In its report Mr said that the time building and loan code of Utah should be model modeled d o on that of many other states He declared that excess loaning was one of ot the tIme defects in inthe the time present law and amI that more clearly defined rules with stricter limitations were desirable The banks banis and building and loan associations have heartily cooperated cooperated cooperated cooper cooper- with his department Mr Pix ton said and It has been een only by close cooperation that the best re reI results re- re suIts have been obtained The report states that there are arc seven eighty and savings savings sayIngs sav say ings banks banIs and trust c companies twenty four building and loan associations and three industrial loan associations under the tho Jurisdiction jurisdiction jurisdiction Juris juris- diction of the time department On June 30 1926 1925 there were two ninety-two banks reporting The Time decrease Is occasioned according to the report re report report re- re port by three failures and four mergers but th the issuance of two new charters leaves a net loss OS of five lve There have havo been no changes in inthe inthe Inthe the number of domestic building and loan associations during the period covered by the report |