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the treasurer of the corporation as soon as the same
shall be organised and the officers chosen as hereinafter
mentioned.
SEC. 4. And be it enacted, That as soon as two hundred
shares shall be subscribed the said commissioners, or a
majority of them, shall call a meeting of the stockholders,
who shall proceed in person or by proxy to the election
by ballot of seven directors, who shall continue in office
one year, and until a new election for directors shall there-
after be made, and the said directors shall have full pow-
er and authority to elect by ballot a president from their
body, and shall have full power to elect a treasurer for
said company, and the stockholders of said company in
one year after the day on which the election of directors
shall be made, and on the same day in every year there-
after, except the same shall happen on Sunday, and in
that case the day succeeding, shall elect by ballot from
among the stockholders seven persons as directors,
and the president and directors, for the time being, shall
give public notice for a new election, at least fifteen days,
previous to the expiration of the time for which they
are elected, and in every election as aforesaid for direc-
tors each stockholder shall be entitled to one Tote for
every share by him or her held, and in case it should
happen that an election of directors should not be made
upon any day when pursuit to this act it ought to have
been made, the said corporation shall not for that cause be
dissolved, but it shall he lawful on any other day to hold
and make an election as aforesaid, in such manner as
shall be regulated by the bye-laws or ordinances of said
corporation, and in case of the death, resignation or re-
moval of the president or a director, the said directors
shall elect another person to supply such vacancy for
the remainder of the year.
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CHAP. 191.
Directors—
how and when
elected.
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SEC. 5. And be it enacted, That the said president
and directors shall be authorised to make such bye-laws,
rules or orders and regulations, not inconsistent with
the laws of this Stale, as shall be necessary for the
well ordering and directing the affairs of the said com-
pany, and also to appoint a secretary, if they shall deem
such an officer to be necessary, and to fix the salaries of
compensation of all officers who may be so appointed
by the same.
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May make
bye-laws.
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SEC. 6. And be it enacted, That the said stockhold-
ers and their successors, from the time of the first meet-
ing before mentioned, shall and they are hereby declar-
ed incorporated by the name of the North Branch
Bridge company, and by that name may sue and be sued,
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Corporate
powers, &c.
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