|
|
been re-elected for another year, and the same for
each succeeding year; and should it at any time
happen that an election of directors shall not be
made upon the day when pursuant to this act it
ought to have been made, the corporation for that
cause shall not be deemed to be dissolved, but it
shall be lawful upon any other day thereafter to make
an election of directors, in such manner as hereinbe-
fore directed, or as may be ordained by any by-law
of the corporation; and in case of the death, resigna-
tion or disqualification of the President, Vice Presi-
dent, or a Director, the place so becoming vacant
may, for the remainder of the year, be filled up by
the Board of Directors, for the time being. In case
of sickness or necessary absence of the President,
his place shall be supplied by the Vice-President, or
in the absence of both, by a director whom the
Board of Directors may at their next regular meeting
appoint to act as President pro. tem.; but until such
appointment by the Directors, the President may
appoint a Director to supply his place as President
pro tem. Before the Directors, at their first regular
meeting after each election, as above-mentioned,
choose a President, they shall fix the salary of that
officer; and the President and Directors shall have
power to appoint all other necessary officers and
agents of the company, shall fix their compensation,
and shall have power to fill any vacancy that may
occur among the officers of the company.
|
|
|
|
|
SEC. 5. And be it enacted, (In the stead of the
provisions of the seventh section of the original act,
so as aforesaid repealed,) That it shall be the duty of
the President and Directors to superintend the con-
cerns of the company; to hold such meetings as they
may deem necessary, or when thereunto notified by
the President; to make such by-laws, not inconsis-
tent with the constitution and laws of this State, or
with this charter, as may be deemed necessary for
the government of its officers and conduct of its af-
fairs.
|
Instead of se-
venth section.
|
|
|
|
SEC. 6. And be it enacted, (In the stead of the
provisions of the eighth section of the original act
so as aforesaid repealed) that the fiscal year of the
company shall commence on the fifteenth day of
June, and terminate on the fourteenth day of June
in each year, but no separate account or computation
shall be made or required of the fraction of the year
between the date of the adoption of this amendment,
|
Instead of
eighth section.
|
|
