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and shall keep the said books open for the space of three days, un-
less the whole number of shares shall be sooner subscribed for,
which subscriptions may be made by person or by proxy; and in
case the whole number of shares shall not be subscribed for in that
time, the said commissioners, or any two of them, shall give no-
tice as aforesaid of the time and place when and where they will
receive subscriptions for the remaining shares.
2. And be it enacted, That as soon as five hundred shares shall
be subscribed, the said commissioners, or any two of them, shall
call a meeting of the stockholders, who shall proceed in person, or
by proxy, to the election, by ballot, often directors, and the said
directors shall elect one of their number to act as president, who shall,
with the directors, continue in office one year, and until a new elec-
tion for directors shall thereafter be made; and the said stockhold-
ers, in one year after the day on which the election shall be first
made, and on the same day in every year thereafter, except the
same shall happen on Sunday, and in that case on the day succeed-
ing, shall elect, by ballot, from among the stockholders, ten per-
sons as directors; and the president and directors for the time be-
ing shall give public notice for a new election, at least ten days
previous to the expiration of the time for which they were elected;
and in case it should happen that an election of directors should
not be made upon any day when, pursuant to this act, it ought to
have been made, the said corporation shall not for that cause be
dissolved, but it shall be lawful on any other day to hold and make
an election of directors, in such manner as shall be regulated by
the by-laws or ordinances of the said corporation; and in case of
the death, resignation or removal, of a director, the said directors
shall elect another person to supply such vacancy for the remainder
of the year; and in every election for directors each stockholder
shall be entitled to one vote for every share by him or her held.
3. And be it enacted, That the said president and directors shall
be authorised to make such by-laws, rules, orders and regulations,
(not inconsistent with the laws of the United States or of this
state) as shall be necessary for the well ordering and directing the
affairs of the said company, and also to appoint a treasurer during
their pleasure, who, before he proceeds to act as such, shall give
bond, with approved security, to the president and directors, in
such sum as they shall appoint, with condition for the faithful dis-
charge of the duties of his office.
4. And be it enacted, That the said stockholders, and their suc-
cessors, from the time of the first meeting before mentioned, shall
and are hereby declared to be incorporated, by the name of The
Nanticoke Bridge Company, and by that name may sue and be
sued, implead and be impleaded, answer and be answered unto,
in any court of law or equity of this state, and may make, have
and use, a common seal, and the same break, alter and renew, at
pleasure.
5. And be it enacted, That the president and directors first to be
chosen as aforesaid, shall procure certificates, to be written or
printed, for all the shares of stock of the said company, and Khali
deliver one such certificate, signed by the president, and counter-
signed by the treasurer, and sealed with the seal of the corporation,
to each person for every share by him or her subscribed or held,
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Dec. Ses. 1817
President and
directors to be
elected.
To make by-
laws, &c.
Incorporation
—style.
Certificates of
stock.
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