INDEX TO THE LAWS.

Chap.

Sec.

CORPORATIONS, — Each stockholder who parti-

cipates in such dividend, shall also be

liable to the extent thereof,

167

13

But no administrator, guardian or

trustee. &c. shall as such, be so liable,

"

"

Such dividend of capital may be made

on three months public notice, when there

exists no debts or demands against the

company,

"

"

All the estate and property of the com-

pany shall be bound and answerable for

the contracts, engagements and liabilities

of the company.

"

14

Service, of legal processes on any of

its officers shall be deemed lawful service,

"

"

If any engagements or liabilities beyond

the actual market value of the assets of

the company be incurred, the directors

who are present when so incurred, and

do not express dissent from such engage-

ment &c. shall be bound and answerable

personally, in proportion to his stock,

and may be taken in execution on any

judgment against the company,

"

"

On any suit instituted by creditor in

such case, the court may order the books

and papers of the company into court,

"

"

Failure to produce them, with a knowl-

edge of the directors &c. shall be deemed

confession of judgment,

"

"

Whenever four fifths of the capital be

in the hands of less than tive persons, or

more than one half in the hands of one

person, for more than six months, all the

corporate powers of such company shall

cease.

"

15

If company be not organized &c. with-

in two years after passage of the act in-

corporating, all its provisions shall be

null and void,

"

"

In any case of dissolution, the capaci-

ty to sue and be sued, for debts contract-

ed &c. is reserved,

"

"

All such charters shall be limited to