| CHARLES RIDGELY, OF HAMPTON, ESQ. GOVERNOR.
day succeeding, shall elect, by ballot, from among the stockholders,
nine persons as directors; and the president and directors for
the time given, shall give public notice for a new election at least
ten days previous to the expiration of the time for which they were
elected; and in case it should happen that an election of directors
should not be made upon the day when pursuant to this act it ought
to have been made, the said corporation shall not for that cause be
dissolved, but it shall be lawful on any other day to hold and make
an election of directors, in such manner as shall be regulated by
the by-laws or ordinances of the said corporation; and in case of
the death, resignation or removal, of a director, the said directors
shall elect another person to supply such vacancy for the remainder
of the year; and in every election for directors each stockholder
shall be entitled to one vote for every share by him or her held. |
1815.
CHAP. 33. |
3. AND BE IT ENACTED, That the president and
directors shall
be authorised to make such by-laws, rules, orders and regulations,
(not inconsistent with the laws of the United States or of this
state,) as shall be necessary for the well ordering and directing
the affairs of the said company, and also to appoint a treasurer
during their pleasure, who before he proceeds to act as such, shall
give bond, with approved security, to the president and directors,
in such sum as they shall appoint, with condition for the faithful
discharge of the duties of his office. |
Authorised to
make by laws,
rules, &c. |
4. AND BE IT ENACTED, That the said stockholders,
and their
successors, from the time of the first meeting before mentioned,
shall and are hereby declared to be incorporated, by the name of
The Williamsport Bridge Company, and by that name may sue
and be sued, implead and be impleaded, answer and be answered
unto, in any court of law or equity of this state, and may have
and use a common seal, and the same break, alter and renew
at pleasure. |
Stockholders incorporated. |
5. 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, who shall keep a minute 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 engineers, superintendants, artists, or other officers, 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; 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 to
do and transact all such other acts, matters and things, as by this
act, or the by-laws, orders and regulations, of the company, shall
be committed to them. |
Powers of president
and directors. |
6. AND BE IT ENACTED, That if any stockholder
shall refuse or
neglect to pay his said several instalments, or any of them, on
each and every share held by him or her, at the times and periods
respectively limited and appointed as aforesaid for the payment
thereof, and for ten days thereafter, every such stockholder, or his
or her assignee, shall, in the discretion and election of the said |
Persons neglecting
to pay his instalments. |
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