| CHARLES RIDGELY, OF HAMPTON, ESQ. GOVERNOR.
5. AND BE IT ENACTED, That the president and
directors first to
be chosen as aforesaid, shall procure certificates, to be written or
printed, for all the shares of stock of the said company, and shall
deliver one such certificate, signed by the president, and countersigned
by the treasurer, and sealed with the seal of the corporation,
to each person for every share by him or her subscribed or held,
upon payment to the treasurer of the two first instalments on each
share of the said stock, which certificate shall be transferable in
person or by attorney, in presence of the president or treasurer,
subject, however, to the payments due, and that may become 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 corporation,
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. |
1817.
CHAP. 224.
Certificates of stock. |
6. 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 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 may 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 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. |
Meetings.—To appoint
engineers,
&c. |
7. AND BE IT ENACTED, That if any stockholder
shall refuse or
neglect to pay his 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 president
and directors, either forfeit to the company every such 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 the 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 of and from such stockholder, or his or her
assignee, in such court wherein the said stockholder may be liable
to be sued for any other debt or claim whatsoever. |
On neglect of payment
shares to be
forfeited. |
8. AND BE IT ENACTED, That the president and
directors of the
said company shall keep just and fair accounts of all monies received
by them from the commissioners, and from the subscribers to the
said undertaking, and of the amount of the profits or shares that
may be forfeited, and generally of all monies received by them for |
Accounts to be
kept and submitted
to a general
meeting. |
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