INDEX TO THE LAWS.

Chap.

Sec.

CORPORATIONS, — And may sell at public sale

the stock of said delinquent, without

judgement,

267

8

And transfer upon the books to the

purchaser,

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And pay over balance, if any,

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If stockholder sells stock before pay-

ment of the full amount subscribed for,

he shall remain liable for payment of

the residue, in case the purchaser fails to

pay up.

"

9

Stock so transferred may be sold to

satisfy arrearages as if no transfer had

been made.

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All stock of, shall be deemed personal

estate.

"

10

And as such, pass to executors, ad-

ministrators, &c.

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And be transferable only upon the

books of the company and according to

the rules adopted by them.

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"

Until so transferred, the company under

no obligation to recognize assignments,

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But real estate purchased by the com-

pany shall be conveyed by deed, and as

such, liable for debts and to be sold under

execution.

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Certificates of stock signed and scaled,

shall be delivered to each stockholder,

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11

The president and directors shall keep

a regular journal of their proceeding,

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12

And enter therein the names of mem-

bers present at each meeting, and the

vote of each member upon each question

when demanded by any member,

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Shall keep regular books of accounts,

and balance them at least once a year,

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13

Shall divide dividends of profits from

time to time as the by-laws may direct,

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Should any portion of the capital be

included in such dividend, each director

by whom so declared, shall he liable to

all persons having claims upon the com-

pany.

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