Literary cadet and Rhode-Island statesman. [volume] (Providence, R.I.) 1827-1829, 1828-09-10
MANUFACTURING INTERPRETATIONS

MANUFACTURING INCORPORATIONs.
The following report was made at the June
publish for the information of our readers; the
subject will probably be called up at the next
session Of the Assembly and discussed:
Section BE i, emaccd by The General Asssmb'y-That
every corporation which may hereafter be established in tins
state for the purpose of carry any kind of manufacture
shall b, OF this Act be capable IN law, by It's corporate
name as a body polite, TO have, hoi aud enjoy lands 'ene-
men. goods chae and effects of what Kind soeser and the
same grant, sell and dispose of TO sue and he sned plead
and mpeaded and be answered. defend and he de
f,nded OF Record other place whatever 10
make have and seal and the same to break al
ter and renew pleasure choose all such officers oi agents.
and adopt such rules and bylaws not inconsistent with The laws
Of Tie statc may be found convenient for It's government
and the Of its concerns, and at pleasure to repeal
or alter any such rIe byaws and to dplace any ohae
or agents by them apponted generally do and eAecui.
all acts matters and things which to such corporation
necessarily apperian to aud subject nevertheless
in all things at all the limitations and provisions here
nacr prescribed and decued aud all acts which the Gen
eral Assembly may pass in amcndnen alteration or fepta
hereof Of the act by which any such body corporate may be
created.
Sect Ind be il further enaced-That the first meeting
Of any such corporation may be called by majority, in value
OF il, ncmbe reasonable notice of the time aud place Of
mee,ins being given by them in newspaper printed III
their vicinity. And the corporation OF said s meeting shaii
choose, and all times alter shall have, clerk, who shall be
sworn by Judge Justice Of the Peace 10 the faithful dis
charge Of his du and shall record in hook kept iortha Pu
posc all votes of the corporation and OF its dneccs or man.
ayers should any such he chosen. All other meetings except
such may be appointed hy the opoatonn lis hyaw' 'haf
periodically heidi aud with the further exception" hereinafter
contancd may called with the notice, by the clerk
upon written request OF quarter part, in value Ct The
members Each n,mber shall be entitled to vote Tor each
and every share by him her held And the attendance in
person. by proxy in writing Of members holding majority
OF the whole shares the stock Of the corporation, including
the legal ntaves OF deceased members any shall be
necessary constitute legal meeting All the part owners o
any share shares may jointly empower Of themselves or
any member of the company 10 act in their stead
Sect. 8. Ind be further enac,ed-That with the consent
the members OF the corporation in conformity with
the articles Of entered into by them, AMI not other
wise such corporation may make equal assessments the
of the members for the necessary purposes of the estat
hment for payment Of which said shares shall be
held pledged, and liable TO the corporations and in
of payment within sixty days after the time appointed for
pymen the share shares of any delinquent member
he sold therefor sufficient amount by mder of the corpora
on public auction; the time place ard purpose Of such
.e being first publicly advertised three successive weeks
in some newspaper printed the vicinity Of the establishments
and the deed deed, thereof shall be executed by the clerk
Provided, that assessment shall be mlde and regulation
bylaw shall be altered eaed until reasonable notice
thereof shall have been given by the clerk 10 every member
resident being within this state, within miles Of the
establishment; which notice shall he in writing and may he
served upon the personally forwarded by mall
otherwise left at the place Of residence of each member
Sect l. And be further enactedThat the property of
every such corporation real and PERSONAL Of every description
shall be stock, divided into many shares the company
shall think proper Of which share, the shall have
certificate, under the seal OF the corporation aud the signature
of the clerk. And said shares shall be transferable (bec
the Ien thereon aoread by deed deeds under the hand
and seal Of the owner executed presence Of two witnesses
and acknowledged before Judge Justice Of the Peace and
recorded by the clerk of the corporation in book to be kept
for that purpose
Sect s. ind be fsiher enacted-That the lands, tene-
anil hereiiamen, which shall be lawful for such
poraon hold shall be only such shall be requisite to its
immediate accommodation in relation TO the convenient trans
acng of il business, and such shall have been bona de
mogaged 10 by way Of security, conveyed it in salts
faction of debt previously contracted in the Of ii, deal
conveyance i, in moman, of any and here
amen shall he deemed valid in law unless approved of and
confirmed by act Of the General Assembly.
Sect 8. 4fnd be further enued-That no such corpora
lon shall be permitted employ any part cf its funds for
banking purposes suffer he employed by others for
use but every such corporation shall conne itself strictly
and exclusively the particular branch cf bus
which shall be precisely and clearly specified in the
by which II may he incorporated.
Sect. I. dnd DC further enaeted-Tha, the widow Of
every dccca sed member orany such corporation shall be
dowed Of one part OF the profits dividends sccruing
upon the share shares owned By said member in The stock Of
said company. And an she shall be liable
pay one part Of the amount assessed the share
shares of which she shall be endowed.
Sect. B. 1nd farther enacted-That when any pro.
preor ha sens s his her interest in the corporation he
she shall give notice thereof Of the
papers published in the vicinity Of the establishment least
three successive weeks and shall be considered member Of
said corporation until the day such publication shall he made
seci. g. And be further enaeied-Tha every member Of
the corporation shall he individually liable fot all contract,
made by such corpoa while he she is member there
of provided, the he prosecuted against such member
within year. from the time he she shall have given public
notice Of the sale ofs his her interest in the stock Of said
corpoan ,he right Of scon .ha have accrued within that
time; Otherwise within year ser the right Of action shall
And in all actions brought against any such
the original writ may he served Wy leaving copy thereof with
the clerk ifto he found within the precinct, Otherwise such
copy shall be le the usual place Of business Of said corpora
ion, with person there, and The officer making such ser