| CHARLES GOLDSBOROUGH, ESQUIRE, GOVERNOR.
in June every year as aforesaid, 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 death, resignation,
or removal out of the county, 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. |
1818.
CHAP. 154. |
4. AND BE IT ENACTED, That the said president
and directors
shall be authorised to make such by-laws, rules, orders and regulations,
not inconsistent with the laws of this state or those of the
United States, as shall be necessary for the well ordering and directing
the affairs of the said company, and also to appoint a trustee
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 the trust reposed in him. |
President and directors
to make by
laws, &c. |
5. AND BE IT ENACTED, That the said stockholders,
and their
successors, from the time of their first meeting before mentioned,
shall and are hereby declared to be incorporated, by the name of
The Rising Sun 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 in this state, and may make, have
and use, a common seal, and the same alter at pleasure. |
Stockholders from
time of their first
meeting declared
to be incorporated. |
6. AND BE IT ENACTED, That the president and
directors first
to be chosen as aforesaid, shall procure certificates to be 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 three first instalments on each
share of the said stock, which certificate shall be transferrable in
person or by attorney, in presence of the president or treasurer,
subject however to the payment of the money 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 corporation, and for every certificate shall 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. |
To deliver printed
certificates of
shares. |
7. AND BE IT ENACTED, That the president and
directors of
said company shall be convened at such times and places, 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 kept for that purpose;
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 contract and agree for materials, and all such articles,
as they shall think necessary; to draw orders on the treasurer for |
Power of president
and directors. |
VOL. IV.
10
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