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SEC. 6. And be it enacted, That the directors of said corpo-
ration shall have full power to adopt such by-laws, rules and
regulations for the direction and management of said corpora-
tion as may in their judgment be necessary for the purpose of
their corporation, not inconsistent with the provisions of this
charter and the laws and Constitution of this State, and the
president and directors of said corporation, or a majority of
them, shall constitute, appoint and employ such officers,
agents and servants for the construction, preservation and
repair of said line and property, and the transaction of all
other business of said corporation, with full power to fix
their compensation, and to remove at pleasure.
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Power to
adopt by-laws,
rules, etc.
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SEC. 7. And be it enacted, That should said president and
directors determine to increase the capital stock of said cor-
poration, as authorized in the second section of this Act,
they, or a majority of them, shall give the same notice of the
time and place of subscribing such additional stock as is pro-
vided in Section three of this Act, preliminary to the election
of a president and directors.
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Shall give
notice of
increase of
capital stock.
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SEC. 8. And be it enacted, That upon every subscription of
said stock, whether under Section two or Section seven of
this Act, there shall be paid to the incorporators or their
agents the sum of ten dollars on each and every share sub-
scribed; and the residue shall be paid in such installments
and at such times as the president and directors shall pre-
scribe and require; and if any subscriber shall neglect to pay
any installment for the space of thirty days after the same
shall be due and payable, the stock on which it is due and
demanded shall, at the discretion of said president and
directors, be forfeited to the corporation; provided, neverthe-
less, that nothing herein contained shall be construed to
prevent said corporation from suing for and recovering such
unpaid installments in like manner as other debts and claims
are recoverable.
SEC. 9. And be it enacted, That this Act shall take effect
from the date of its passage.
Approved April 12, 1900.
Chapters 6, 9, 14, 51, 163, 223, 251, 345, 355, 415, 418,
440, 490, 563, 567, 621, 675, 683, 707, 721 and 728 were
vetoed by the Governor.
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Subscriptions
to stock.
How paid.
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