In 1890, legislation enabled such associations to incorporate for the purpose of lending money to members only for building and improving their homesteads. An association could draw up papers stating this purpose, the name of the proposed corporation, its capital stock, location, and the duration of the corporation and file them with the county probate clerk. The clerk would then issue a license to enable the organization to issue stock. Following a stock holders meeting, the election of directors, and the adoption of a charter and by-laws, the association was to file a report of their proceedings with the probate clerk. The probate clerk then sent a copy of all papers, including the license, to the territorial secretary who then issued a certificate of corporation. The association was thereby enabled to do business.
This book records a copy of the certificate in the form specified under the legislation. The preprinted forms state that a certified copy of the papers had been filed in the probate clerk's office, that copies had been filed with the territorial secretary, and that the Secretary of the Territory of Utah certified that the Building and Loan Association was a legally constituted and organized corporation. There are blanks for the name of the county, dates of filings, name of the Building and Loan Association, the individuals to whom a license was issued, and the date and signature of the territorial secretary.