Litchfield enquirer., 1837-06-29


 such times and places as they shall think proper by giving such notice thereof the bylaws of said conn pany shall prescribe. And in case any StockhOld9r ment for the space of sixty days after the same shall become duo and payable, and after he, sne oL tney shall have been notified theroo the stock or socn % g hgent Stockholders shal by the Directors pc scLa a1 public auction, giving ct least thirty days nouce ere oG in some ne ewspaper printed in the County where (" s1Ga suS s proceeds of such sale bc first applied in payment of the nstailmeHt caLeo for and the expenses attending it, ana the balance nee shall be refunded to the owner thereof and such sale shall in All respects entte the purchaser to all the rights of Stockhoder, to the extent o te snaleS So
 SEC g. A majority of the Directors of every such corperason according to their bylaws shall constitute quorum for the transaction ot business, and majority of the Stockholders present at any le- gal meeting shall be capable of transacng the busi- 1 ness of that meeting, and at all meetings Of such stockholders each share shall entite the holder there
 SEC. 10. The Directors of every such corporation for the time being, shall have power to fill any vacan- cy which may happen in their Board by death resg- ! nation or otherwise, for the then current year.
 SEC. II. If it shall so happen that an election of l Directors in any such corporation shall not take place the annual meeting thereof, in any year. sald corporation shall not thereby he dissolved, but an election may be had at any time within year, to be fixed upon, and notice thereo to De gwen oy 'ne l Directors
 tainng their accounts shall at all reasonable times be open for the inspection of any of the Stockholders, and often once Tn each year statement ot the ac. counts of said company, shall be made by order ot SEC. l3. Every such corporation may increase it's capital sock and the number ot shares therein, at any meeting of the Stockholders, specially warned for that purpose-ProUided that the amount so in- creased shall not exceed the amount authorized by this act. SEC. A. The stock of every such corporation shall be deemed and considered personal property, and be transferred only on the books of said company, Tn such form the directors of said company shall pres cribe. And said company shall at all times have a lien upon all the stock property ot the members ot said company invested therein, for all debts due from them to said company. c,, shed under the authority of this act shall commencS business, the President and Directors thereof snail their articles of association to De puDnsneo at full length in two newspapers printed ID the county Tn which said company is located, or Tn an adlolnlng county-They shall also make certificate of the puf pose for which said company is tcrmed-the amount actually paid in and the names of their stockholders, and the number of shares by each respectively own ed which certificate shall be signed by the President and majority of the Directors ot said company and deposited [with the Secretary of this State and du pcate thereofl with the Town Clerk ot the town Tn which said company is to transact It's buslness and said Secretary and Town Clerk sha S y re- purpose-and within thirty days after the payment o any nstalnent called for by the Directors of said company, certificate thereof shall be made' slgned SEc 16. If any such corporation shall increase It's capital stock before provided, the President and Directors of said company shall within thirty days thereafter make certificate thereof, which shall be signed, deposited, and recorded as in the preceding section is provided. ..u.u-
 SEC. r. Every such corporation shall annually in the month of January make a certificate containing the amount of their capital actually paid ln-the a. mount invested in real estate and the amount invested in personal estate and the amount ot ther debts ana accredts at the time of the making ot such cerhcate, as nearly as the same can be ascertaned, with the name of each stockholder and the number ot shares by him held at the date of such cer- | x:ca lnu l.e h,, fho | " of said company, and deposited with the Town l Clerk of the town in which said company transact their business and whenever any Stockhoder shall transfer his stock in any such company, certificate of such transfer shall forthwith be deposited with the Town Clerk us aforesaid who shall note the time of said deposte and record it at full length in book to s S nun kept of that eren eG a sue sockhoder, until such certificate shall have been de- posted according to the provisions of the foregoing section. .
 SEC IS. The certificate required by the 18th, 16tb, and l7th sections of this Act, shall be made under oath or affirmation by the persons subscribing the facts knowingly swear or affirm falsely he shall be saby byy sw S e1 suffer the
 SEC. is. If the capital stock of any such corpora ton shall be withdrawn and refunded to the stock holders before the Gf all the deofs or the ble the stockholders of said company shall be liable to any such creditor of said company, in an action founded this statute, to the amount of the same re- funded to them respectively as aforesad-Prouided always. that if any such stockholder shall be compel led by any such action to pay the debts of any credit or of said company or any par! thereof he shall have right by bill in chancery to call upon all the stock holders of said company to whom any part of said stock has been refunded to contribute their proportion able part oi the sum by him paid as aforesaid.
 SEC. 20. If the directors ef any such corporation shall declare and pay dividend when the company is insolvent, or any dividend the payment of which would render 1t insolvent, knowing said company to be insoven or that such dividend would render it so the directors assentng thereunto shall be jointly and severay liable in action founded on this statute for all debts due from said company, at the time of such ! dividend.
 SEC. sl 1.-the President, Directors or Secretary refuse to comply with the provisions of and perform the duties required of them respectively by the 18th, 16th and l7th sections of this Act, such of them negecting refusing shall jointly and severaly be i- able in an action founded this statute for all debts of said company contracted during the period of any such neglect and refusal
 SEC. 9. If any corporation organized and estab- lshed under the authority of this Act, shall violate shall thereby become insolyent the directors ordering assenting to such violation shall jointly and sever ally be liable in action founded on this statute for debts contracted after such violation as aforesaid } SEC. 2S This Act shall be taken to be Public Act and take effect from and after the day of the pas sage thereof, and may at any time be altered or mended, or repealed, by the General Assembly. And the General Assembly may at any time for just cause rescnd the powers of any corporation, created purs ant to the provisions of this act and prescribe such mode may be necessary or expedient for the settle
 SrILLMAN K. W1eHrMAN, Speaker of the House of Representatives.
 EBENEzER SToDDARD. President of the Senate.
 HENRY W. EDWARDS. An Act to repeal part of m Act entitled an Act for
 the admission and settlement of inhabitants in towns.