| CHARLES RIDGELY, OF HAMPTON, ESQ. GOVERNOR.
and all the privileges and franchises incident to a corporation,
and shall be capable of suing and being sued, answering and
being answered. |
1816.
CHAP. 197. |
8. AND BE IT ENACTED, That after thirty days
public notice of
the time and places appointed for the payment of any proportion
of the said capital stock, if any stockholder shall neglect to pay
such proportion at the time and place appointed, for the space of
forty days after the time so appointed, every stockholder, his, her,
or their assignee or assignees, shall in addition to the payment so
called for, pay at the rate of five per cent per month for delay
on
such payments; and if the said shall remain unpaid until the interest
aforesaid shall amount to a sum equal to the payments already
made on such shares, in that case the said share or shares
be forfeited to the said company, and may and shall be sold for the
benefit thereof, and assigned by the president and managers to the
purchase or purchasers aforesaid, which purchaser or purchasers,
by virtue of such assignment, shall have all the benefit and advantage
of such share or shares, as if he, she or they, had been an
original subscriber or subscribers; Provided, that no stockholder
or stockholders, whether an original subscriber or assignee, shall
be entitled to vote at any election of the said company, unless the
whole sum due and payable as aforesaid by him, her or them,
held at the time of such election, shall have been fully paid and
discharged as aforesaid. |
Penalty on stockholders
neglecting
to pay.
Proviso. |
9. AND BE IT ENACTED, That the president and
three managers
shall be a board competent to transact the business of the corporation. |
Board to transact
business. |
10. AND BE IT ENACTED, That the board shall
have power to
complete the stock by requisitions not exceeding two dollars on
each share, after thirty days notice thereof; to decide upon the rail
road to be made, and the operations to be undertaken for effecting
the same; to determine upon the manner of conducting the concerns
of the company, and the rules and forms to be observed
therein; to appoint and pay the various agents, mechanics, clerks,
officers and servants, that they may deem necessary, and to dispose
of the funds and credits of the said company, and to direct
its affairs, in all respects for the benefit of the stockholders. |
Powers of the
board. |
11. AND BE IT ENACTED, That it may be lawful
for the said
president and managers, superintendants, surveyors, engineers,
artists or chain-bearers, to enter into and upon all and every the
lands and enclosures in and through and over which a rail road
may be thought proper to pass, and also to survey, lay down, ascertain,
mark and fix, such routs or tracks for the same, as in the
best of their skill and judgment will combine shortness of distance
with the most practicable ground whereon the said road shall pass. |
President, &c. to
enter upon all
lands they may
deem proper for a
rail-way. |
12. AND BE IT ENACTED, That the said company
shall have
power to erect bridges over all sinks, gullies and water courses,
whereon the same shall be found necessary, and cause a road to be
laid out not exceeding sixty feet in width. |
To erect bridges. |
13. AND BE IT ENACTED, That if any rail road
shall be founded
and laid out over and upon any land, whereby the owner or owners
thereof may suffer damages, the person or persons sustaining
such damages may make application to the judges of the county
court, or in the recess thereof to any judge thereof, where such |
Damages to be assessed. |
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