E. LOUIS LOWE, ESQUIRE, GOVERNOR.
613
SEC. 3. And
be it enacted, That all the estate, property
and joint stock shall be bound and answerable
for the contracts and engagement made and liabilities
incurred by said company, and the said company shall
have full power and authority under the corporate act to
use, negotiate, bargain, sell, transfer or otherwise dispose
of and employ all the joint stock, estate, property and
income to promote their object in the purchase of said
said tavern house; Provided, the same be done in conformity
with the laws of this State and the provisions
of this act.
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Estate answerable
for
contracts.
Proviso.
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SEC. 4. And be it enacted,
That there shall be a
meeting of the stockholders on the first Tuesday in
September in each and every year, the first meeting to
be held on the first Tuesday in September eighteen
hundred and fifty-three, for the purpose of electing a
president or such officers as may be determined on by
the stockholders at said meeting to manage the concerns
of said company, for one year then next succeeding
such meeting, all of whom shall be elected by ballot,
and each share of stock shall entitle the holder to
one vote, and any general meeting of the stockholders
called pursuant to the by-laws and regulations of the
company at which a majority of the members as well
as stock taken shall be present, shall be competent to
pass or alter any by-law or regulation, and the same
shall be binding on the company.
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Meeting of
stockholders.
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SEC. 5. And be it enacted,
That nothing in this
act shall be so construed as to confer any banking privilege
on the company herein incorporated.
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Banking forbid.
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SEC. 6. And be it enacted,
That the agreement
heretofore entered into by said company, be, and is
hereby binding on said company, and nothing in this
act shall be so construed so as to annul the said agreement.
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Agreement
binding.
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SEC. 7. And be it enacted,
That the Legislature
reserves to itself the right to alter, amend or repeal this
act at pleasure.
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Reservation.
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SEC. 8. And be it enacted,
That this act shall take
effect from and after the date of its passage.
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In force.
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