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CHAP. 284
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books of the said new corporation in such man-
ner as the said new company by its resolution or
by-law, shall from time to time direct and ap-
point; and that the said stockholders of the said
new company shall be entitled to take and receive
all the revenues and profits of the said road and its
appurtenances, until such time as the stockholders
in the old corporation shall pay over to the party
or parties entitled, the lull amount of the purchase
money as stated in the report of sale made by said
trustee as aforesaid, with interest from the date of
said sale and the costs which have accrued or may
hereafter accrue thereon, together with the full
amount of the expenditure hereafter made in re-
pairing, improving and remarking the said road,
and that from and after said payment by the stock-
holders in said old corporation the said road and
right to the revenues thereof shall revert in the
said old stockholders.
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Assesment of
members —
payments, &c.
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SEC. 4. And be it enacted, That the stockholders
in the said new corporation, shall be and they are
hereby authorised and empowered to ascertain all
such sums us may in their judgment be necessary
for completing, carrying on, repairing and improv-
ing the said road, and all the works connected there-
with, and from time to time to assess all such sums
on the members of said new corporation, in pro-
poration to their several portions and interest, and
to appoint such times and places of payment as may
in their opinion be necessary and proper; and if
any stockholder in said new corporation, after two
months of any such assessment, and of the time
and place of payment, to be published in any news-
paper printed at Elkton, once in each of three suc-
cessive weeks, or served personally on said stock-
holder, or left at his, her or their usual place of abode,
or place of business, shall refuse or neglect to pay such
assessment at the time and place so to be fixed,
the stock of such delinquent stockholder, or so
much thereof as may be necessary for. paying such
assessment, with all costs and charges incurred by
reason of such refusal or neglect, shall be and
hereby is forfeited to the use of said new corpora-
tion, and may be sold and transferred by it, for the
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Proviso.
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purpose of raising the sum so due; Provided, that
no such assessment shall be made, unless a sufficient
number of stockholders shall concur therein, to be
present, a majority in value of the stock in said new
corporation.
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