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SEC. 8. And be it enacted, That if after thirty days
notice in the public papers aforesaid, of the time and
place appointed for the payment of the said capital
stock, or any portion or instalment thereof, in order to
carry on the work, any stockholder shall neglect to
pay the same for the space of thirty days after the time
so appointed, every such stockholder, or his or her as-
signee shall in addition to the payment or instalment
so called for, pay at the rate of two per cent, per
month for the delay of such payment, and if the same
and the additional penally shall remain unpaid for
such space of time as that the accumulated penalty
shall become equal to the sum before paid, in part and
on account of such share or shares, the same shall be
forfeited to the said company, and may be sold to any
person or persons willing to purchase the same for such
price as can be obtained therefor, or in default of pay-
ment as aforesaid, the president and directors may at
their election cause suit to be brought against such de-
linquent stockholder or assignee, before any justice of
the peace, or in any court having competent jurisdic-
tion of the same, for the sum so as aforesaid required
to be paid, together with the penally incurred by de-
fault therein, and no stockholder whether original sub-
scriber or assignee, shall be entitled to vote at any
election or at any meeting of said company, on whose
share or shares any arrearages may be due and paya-
ble, more than thirty days before said meeting or elec-
tion.
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Neglect to pay
instalment.
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SEC. 9. And be it enacted, That the president and
directors of the said company shall require and receive
of and from the treasurer, and every other officer and
other person by them employed, bonds in sufficient
penalties, and with such sureties as they shall by their
by-laws, rules and regulations determine for the faith-
ful performance of the several duties and trusts to him,
them, or any of them committed.
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Bonds of offi-
cers.
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SEC. 10. And be it enacted, That dividends of so
much of the profits of the company as shall appear
advisable to the directors, shall be declared at least
twice a year in every year, and paid to the stockhold-
ers on demand at any time after the expiration of ten
days therefrom, but the dividends shall in no case ex-
ceed the net profits actually acquired by the company,
so that the capital stock shall never thereby be impaired ;
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Dividends.
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