Section 6Part 3 — Rules and Certification
Trusts upon which mortgages are to be taken
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Any society may, by its rules or a schedule thereto certified and filed as herein mentioned, specify the trusts on which mortgages accepted by them shall be taken and held, and also the powers and privileges which, in all such mortgages, shall be held and enjoyed by the trustees of such society; which trusts, powers and privileges may, in every such mortgage, be referred to by apt words; and thereupon such trusts, powers and privileges shall be as absolutely vested in, and shall as fully devolve upon, the trustees for the time being of such society, as if they were fully set out in every such mortgage, and each such society may, in like manner, by its rules or schedules thereto, provide or set out forms in which mortgages and conveyances to them, and surrenders and releases of mortgages on mortgage terms, and all conveyances by them, may be taken in case where it is found practicable to adopt such forms.