THOMAS W. VEAZEY, ESQUIRE, GOVERNOR.

1837.

stock; to provide for taking bonds with security, con-
ditioned for the faithful performance of the duty of the
treasurer, or any other officer or agent that may be
entrusted with the care of any of the funds of the com-

CHAP. 268.

Bonds.

pany; to provide and contract for the erection and con-
struction of all such buildings and other improvements
as shall be necessary to constitute a complete and con-
venient hotel, et cetera, and if it shall be deemed ad-
visable, for furnishing the same, in a competent manner
for the accommodation of guests; to provide, if it shall

Buildings.

be deemed advisable, for renting or leasing such hotel,
either furnished or unfurnished for any term not ex-
ceeding ten years, or for carrying it on by agents and
servants in the employ and for the benefit of the com-
pany; to provide for dividing the profits that shall be
acquired by the company, among the stockholders; to

Rent or lease.

provide for a sale of any part, or all of the property of
the company, whenever by the majority of the votes of
all the stockholders, it shall be decided to make such
sale, and for the re-investment of the proceeds of suck
sale in the purchase or erection of similar or suitable
improvements, for the use and purposes authorised by

Sale authorised.

this act. or for the division of the proceeds of any such
sale, after paying all lawful claims against the com-
pany among the stockholders, and thereby dissolving

Dividends.

the corporation: provided, that no such dissolution shall
prevent the comnectivment or prosecution of any suit
at law or in equity for any claim against the corpora-

Dissolution.

tion: and generally to pass such other bye-laws as may
be necessary for the exercise of any of the powers
granted by this charter, or transacting any business
which the said company may lawfully do in virtue of
this act, and all such bye-laws and, resolutions from
time to time to alter or repeal; provided, that such bye-
laws and resolutions shall not be contrary to any law
of this State or of the United States.

General powers.

SEC 4. And be it enacted, That the right is reserved
to the Legislature, at any time after twenty years, to
make such alterations in the provisions of this charter,
to operate thereafter as to them shall appear necessary
and proper; and at all times to impose such tax as they
shall deem reasonable, on the property, estate, lands
86

Rights reserved.