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ROBERT BOWIE, ESQUIRE, GOVERNOR.
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. |
1804.
CHAP. 63. |
5. 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,) 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. |
To make by-laws,
&c.—Treasurer to
be appointed. |
6. AND BE IT ENACTED, That the said stockholder,
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
Chester 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 make, have and use,
a common seal, and the same break, alter and renew, at pleasure. |
Stockholders incorporated. |
7. 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, in part of the sum due thereon,
the sum of four dollars for each share, which certificate shall
be transferrable in person, or by attorney, in the presence of the
president or treasurer, subject however to the payments due, and
that may grow 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. |
Certificates of
stock to be delivered. |
8. 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 and 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 ascertain the times, manner and proportions, in which the
stockholders shall pay the money die on the respective shares, in
order to carry on their work; 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; Provided also, that
the |
Meetings—powers
of president &
directors.
Provisos. |
VOL. I.
50
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