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Session Laws, 1846
Volume 611, Page 308   View pdf image
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THOMAS G. PRATT, ESQUIRE, GOVERNOR.

1846.

transaction of business; and said boaid shall have full

power and authority to appoint, compensate and remove
such officers, agents and servants as they may deem ne-
cessary in the business of said company; also to con-
tract for and purchase such real and personal estate, and
erect all such buildings, improvements and machinery as
they may think necessary to carry into effect the object
of said company, and the same, or any part thereof, to
sell, convey or dispose of, at their discretion; also to
prescribe the mode of distributing, registering and trans-
ferring the capital stock of the corporation, and the cer-
tificates thereof; and to declare and pay annual or other
dividends of the net profits of said company; also to
supply vacancies in their own body, from the stockhol-
ders of said corporation; also to call special meetings of
said stockholders, and generally to do all such acts for
conducting the business of said corporation as they may
think proper, the same not being contrary to the by-laws
passed by the stockholders, nor to any law of this State.
SEC. 4. And be it enacted, That all general meetings
of the stockholders shall be called by the president and
directors, or as the by-laws may direct; and at any
meeting of the stockholders a quorum for the transaction
of business shall consist of the owner or owners, or rep-
resentatives of the owners, of at least a major part of
the capital stock, but a smaller number may adjourn from
time to time, and every such meeting shall have full
power and authority to pass, alter or repeal by-laws and
regulations for the management of the affairs of the cor-
poration.

CHAP. 320.

SEC. 6. And be it enacted, That the stockholders, or
a majority of them in interest may, from time to time,
enlarge the capital stock of said company, by selling, or
ordering their president and directors to sell all shares
therein, at such times, and in such manner, to such
amount, and at such price or prices as they, in genoral
meeting, may direct, until the said capital stock reaches
to the aforesaid amount of three hundred thousand dol-
lars; and upon such additional stock being taken, the
owners thereof shall, to all intents and purposes, be
members of the company hereby incorporated, and have
equal privileges and powers with the original stockhold-
ers, and any premium or premiums obtained on such
stock shall be the common property of all the stockhol-
ders, in proportion to the capital stock owned by them
respectively.

Stockholders
may enlarge
capital stock.



 
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Session Laws, 1846
Volume 611, Page 308   View pdf image
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