DANIEL MARTIN, EAQUIRE, GOVERNOR.
Sec. 7. And be it enacted, That special meetings of the
stockholders may be called by the board of directors, or by
any number of stockholders who shall be proprietors of not
less than one third of the whole number of shares of stock
subscribed, the members present, and representing a ma-
jority of the whole number of shares of stock subscribed,
shall be a quorum for the transaction of business; and the
stockholders, at any general annual meeting, or at any spe-
cial meeting, at which the holders of a majority of the
whole number of shares of stock shall be represented, shall
have full power to alter and repeal any by-law, rule or re-
gulation, made by the president and directors, and may
make such new by-laws, rules and regulations, as a majo-
rity of the whole number of votes of the stockholders shall
assent to, which shall be binding on the president and di-
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21
1830,
CHAP 23,
Special meet-
ings
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rectors; Provided, that the same be not contrary to any of
the provisions of this act
Sec. 8. And be it enacted, That the shares in the capi-
tal stock of this corporation shall be deemed personal es-
tate, and when any person shall be divested of al! his stock,
by transfer or otherwise, he shall cease to be a member of
the said corporation; and every person, co-partnership or
corporation, who shall become the owner or legally enti-
tled to any share or shares of the stock, by subscription and
payment, transfer, devise, or otherwise, shall thereupon
become a member of the said corporat ion; and all the capi
tal stock, and a'l the estate and property, real and person-
al, claims and effects, of the corporation, shall be hound
and answerable for any contracts or engagements made, or
liability incurred, by or under the authority of the said
corporation, and its agents, for its use and accounts.
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Proviso
Stock to-be
deemed perso-
nal estate
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Sec 9. And be it enacted. That nothing contained in
this act shall be construed to restrict the right of the legis-
lature to impose from time to time, and at all times hereaf-
ter, bv such reasonable tax upon the property, real, person-
al and mixed, in which the capital stock of the said com-
pany hereby incorporated shall he invested, in common
with similar property of any other corporation or individu-
al of this state.
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Legislature
may impose
tax
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Sec, 10. And be it enacted. That this act shall continue
and be in force until the first day of January, in the year
eighteen hundred and sixty, and until the end of the next
session of the general assembly that shall happen thereaf-
ter.
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Duration
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