|
opened by the commissioners, as herein before directed,
|
CHAP. 234.
|
to provide for declaring and paying dividends of the
|
Declare dividends
|
profits made by the company, to prescribe the manner
|
 
|
and evidence of transfering the capital stock, and for
|
 
|
the forfeiture and sale of any share or shares thereof
|
Case of ommission to pay instalment
|
on default of payment of any of the instalments called
|
 
|
for and due, and for the remission of such forfeiture on
|
General powers
|
such terms as they shall deem reasonable, and gene-
|
 
|
rally to do, make, execute or authorise all such acts,
|
 
|
deeds and other writings either with or without the
|
 
|
corporate seal, and make, revise, alter or annul all
|
 
|
such by-laws, ordinances, rules, resolutions and regu-
|
 
|
lations, not inconsistent with the laws of this State or
|
 
|
of the United States, or with any by-law or resolution
|
 
|
of the stockholders adopted at a general meeting, as
|
 
|
the said board of Directors may deem necessary and
|
 
|
useful, and shall be competent to the full and beneficial
|
 
|
exercise of and carrying into effect the powers above
|
 
|
enumerated, and all other powers granted by this act
|
 
|
and vested in the corporation hereby created.
|
Power of general
|
SEC. 5. And be it enacted, That the stockholders at
|
meeting
|
any annual or other general meeting held after ten
|
 
|
days public notice, as directed in the third section at
|
 
|
which the owners of a majority of the whole number
|
 
|
of shares of stock shall be present or represented,
|
 
|
shall have power to alter or repeal any by-laws, rules,
|
 
|
resolutions or ordinances made by the directors, and
|
 
|
make such new by-laws, rules and ordinances as a majo-
|
 
|
rity of the votes present shall approve of, which shall be
|
 
|
binding on the President and Directors, and shall have
|
 
|
power with the actual assent of the owners of a ma-
|
 
|
jority of the whole number of shares of stock, to re-
|
 
|
move from office the President or any Director, and
|
 
|
to dismiss any officer, agent or other person in the
|
 
|
employ of the company and elect or appoint another
|
 
|
or others to fill the vacancy or vacancies, so made,
|
Closing concern
|
and with such assent of such full majority may pro-
|
 
|
vide for selling or otherwise disposing of all the pro-
|
 
|
perty, estate and effects of the company, and dividing
|
 
|
the proceeds among the stockholders, and for dissolv-
|
 
|
ing the corporotion created by this act.
|