|
ROBERT BOWIE, ESQUIRE, GOVERNOR.
the payments due and that may grow due thereon; and the assignee
holding any certificate, having first caused the assignment to be
entered in a book of the company which shall be kept for that
purpose, shall be a member of the company, and for every certificate
so held, shall be entitled to one share of the capital stock, and
of all the estates, benefits and emoluments of the company, and to
vote as aforesaid at the meetings thereof. |
1811.
CHAP. 139. |
7. AND BE IT ENACTED, That the president and
directors shall
meet at such times and places, and be convened in such manner as
shall be agreed on for transacting the business of the company,
and a majority shall be a quorum, who in the absence of the president,
may choose a chairman, and shall keep minutes of all their
transactions fairly entered in a book, and a quorum being met,
they shall have full power and authority to agree with, and appoint
such superintendants, artists or other persons, as they shall
think necessary to carry on the said bridge; and to contract and
agree for materials and all such articles as they shall deem necessary
for building or repairing said bridge; and to draw orders on
the treasurer for all money to pay the wages of persons by them
employed, and for the materials and labour done, provided such
orders shall be signed by the president, or in his absence, by a
majority of the attending directors, and countersigned by the secretary;
and to do and transact all other such acts, matters and
things, as by this act or the by-laws orders and regulations of the
company shall be committed to them. |
Relative to meetings,
and transaction
of business,
&c. |
8. AND BE IT ENACTED, That if any stockholder
shall refuse
or neglect to pay any balance or instalment that may be due on
any share or shares by him or her held, at the times and periods
required by the president and directors, and shall so neglect or refuse
for thirty days thereafter, every such stockholder, or his or her
assigns, shall in the discretion of the said president and directors,
either forfeit to the company every share on which any instalment
may remain due and unpaid as aforesaid, to be sold by
the said president and directors for the best price that can be obtained
therefor, for the benefit of said company, or shall be liable
to be sued for the same, and the amount thereof, with legal interest
thereon, shall and may be recovered by the said president and
directors from such stockholders, or his or her assignee, in such
manner as debts of similar amount are recoverable. |
Stockholders refusing
to pay instalments
to forfeit
their shares, or be
sued therefor. |
9. AND BE IT ENACTED, That the president and
directors of
the said company shall keep fair and just accounts of all monies
received by them from the president and managers aforesaid, or
from the stockholders of said company, and of the amount of the
profits or shares that may be forfeited, and generally of all monies
received by them for the purpose of erecting the said bridge, and
also of all monies by them expended in the prosecution of the said
work, and shall at least once in every year submit such accounts
to a general meeting of the stockholders, until the said bridge be
completed, and until all the costs, charges and expenses, for effecting
the same, shall be fully paid and discharged, and the aggregate
amount of all such expenses shall be liquidated and ascertained;
and if after the said bridge is completed, it shall be found that
more monies shall remain in the hands of the treasurer than is necessary
for the payment of all charges and expenses incurred in |
Accounts of monies
received and
expended to be
kept. |
|
 |
