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LEVIN WINDER, ESQUIRE, GOVERNOR.
notice, and at such places, in manner and form aforesaid, as the
managers aforesaid shall direct and appoint. |
DEC. 1813.
CHAP. 126. |
" Sec. 4. And be it further enacted,
by the authority aforesaid, That
the said company shall meet on the first Monday of June in every
year, at such place as shall be fixed by their by-laws, for the purpose
of choosing officers as aforesaid for the ensuing year, in manner
aforesaid, and at such other times as they shall be summoned
by the managers, in such manner and form as shall be prescribed
by their by-laws; at which annual or special meetings they shall
have full power and authority to make, alter or repeal, by a majority
of votes in manner aforesaid, all such by-laws, rules, orders
and regulations as aforesaid, and to do and perform any other
corporate act. |
Meetings of company. |
" Sec. 5. And be it further enacted,
by the authority aforesaid, That
the president and managers first to be chosen as aforesaid, shall
procure certificates to be written or printed for all the shares of the
stock of the said company, and shall deliver one such certificate,
signed by the president and countersigned by the treasurer, and
sealed with the common seal of the said corporation, to each person
for every share by him subscribed and held, he paying to the
treasurer, in part of the sum due thereupon, the sum of five dollars
for each share, which certificate shall be transferreable at his pleasure,
in person or by attorney, in the presence of the president,
secretary or treasurer, subject however to all payments due and to
grow due thereon; and the assignee holding any certificate, having
first caused the assignment to be entered in a book of the company,
to be kept for the purpose, shall be a member of said corporation,
and for every certificate by him held shall be entitled to one share
of the capital stock, and of all the estates and emoluments of the
company, and to vote as aforesaid at the meeting thereof. |
Powers of president
& managers. |
" Sec. 6. And be it further enacted, by
the authority aforesaid, That
the said president and managers shall meet at such times and places,
and be convened in such manner as shall be agreed on for transacting
their business, at which meeting five members shall form 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 all such surveyors, superintendants,
artists and officers, as they shall judge necessary to carry
on the intended works, and to fix their salaries or wages; to ascertain
the times, manner and proportions, when and in which the
stockholders shall pay the money due on their respective shares,
in order to carry on the work; to draw orders on the treasurer for
all monies necessary to pay the salaries or wages of persons by
them employed, and for the labour done and materials provided in
the prosecution of the work, which orders shall be entered or registered
in their books of minutes, and shall be signed by the president,
or in his absence by a majority of a quorum; and generally to do
all such acts, matters and things, as by the by-laws, rules, orders
and regulations, of the company, shall be committed to them. |
Powers of president
& managers. |
" Sec. 7. And be it further enacted,
by the authority aforesaid, That
if any stockholder, whether original subscriber or assignee, after
thirty days notice in the public papers before mentioned, of the
time and place appointed for the payment of any proportion or instalment |
Instalments. Neglect
of payment. |
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