Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1850-12-06

receive subscriptions to the capital stock of
any bank which shall be hereafter incorpora-
Ted, or OF which the legislature shall hereafter
authorize an increase of the capital stock,
sna,' not receive any such subscription, nor
sulef such subscriptions 10 be entered upon the
oooRs OF such bank, opened by said commits
s'onerS lor The purpose of receiving such SUBJ
criptlons, unless the person in whose name
such subscription is sought 10 be entered shall
personally appear before such commissioners,
or some one of them, aud make oath that the
salu proposed subscription is made in good
lalth, anu with the intent, On the part of such
SUBSCRIBER, 10 retain the capital stock SO SUBJ
'cr,oeu lor, o his, or her, own use and benefit
ana not under any agreement, understanding
or expectation, that such subscription is to be
MADE Tor Tie benefit, or at the expense, of any
THIRD person, or with intent to transfer the stock
SO subscribed for to such third person.
ProhIed, That in case of the inability, from
sickness, or otherwise, Of the person 50 desr-
ing to subscribe for capital stock, to appear
before such commissioners, the commissioners,
upon being satisfied of such fact. NAV enter
subscription, upon the request in writing of
such subscriber, accompanied by his affidavit
10 the effect herein before in this bill provided.
Prorided also, lhis bill shall not be construed
10 prevent any trustee. guardian or parent
from subscribing for stock in the name of his
esstu que trust, ward, or child, upon making
oath that such subscription Is for the sole use
of his cesiai que ruSt ward, or child, and not
with the understanding expectation or intent
to allow any other person or persons 10 assume
or pay for the same.
Sec. T. Any commissioner, APPOINTED to
receive subscriptions TO the capital stock of
any bank, is hereby authorized to administer
the oath required by section one of this act.
Sec. 2. This act shall take effect from its
passage.
Approved Nov 7, 1850.
NO. 46-AN ACT TO AMEND SECTION
Ten OF CHAPTER TWENTY EIGHT
OF THE REVISED STATUTES. AL
TERING THE TINE OF SERVICE OF
PROCESS ON CORPORATIONS.
IL is hereby enacted dc.
Sec. |. Section ten Of chapter twen'y.eight
of the Revised Statutes is hereby so amended.
that the last paragraph in said section shall
read as follows and every writ issued painst
any town, county or school district, shall be
served at least thirty days before the session of
the court to which it Is made reurnable, eX-
cept wrts in which such town, county or school
district may be summoned as trustee or trus-
tees.
Sec. 9. This act shall take effect from its
passage.
Approved Oct. 80, 1850.
NO. +7.-AN ACT RELATIN j TO MUTU.
AL FIRE INSURANCE COMPANIES.
II is hereby enacted Sc.
Sec. l.. All mutual fire insurance companies
in this State shall be responsible for the acts
and neglect of the several agents appointed bv
them, as between The said companies and the
applicants for insurance therein, or the assur-
ed, while in the performance of their duties, as
the agents of said companies.
Sec. 2. All mutual fire insurance companies,
other than those chartered by the General AS
semby OF this State are prohibited from taking
insurance IN this State, unless such company
or companies shal. be responsible by The laws
of the State in which such company or compa-
nes, or by proviso TO that effect inserted in
their policies of insurance, for the acts and
neglects OF their agents as between said com.
panles and the assured, and as between said
companies and the applicants for insurance
therein
Sec. 3. If any person shall take any appli.
cation, or make any survey intending to effect
Insurance on any property in this State, in anv
mutual hre insurance company not chartered
by the legislature of this state, said company
such person, as specified in section two, said
person shall upon conviction before any court
proper TO try the same, forfeit aud pay a sum
not less than seven dollars for every such Of
fence, one halt OF which penalty shall 90 TO
the person prosecuting the same, and the other
half to the treasurer Of the town where such
offence shall have been committed.
Sec. This act shall take effect from its
passage.
Approved NV, 49, 1850.
NO. 4S.-AN ACT TO REPEAL SECTION
1HlRTY-rWO OF IAN ACT IN RELA.
TlON 10 RAJ LROAD CORPORA.
TONS" APPROVED NOVEMBER l3,
lS49
10 hereby cnactelSc.
Sec. /. Section thirty-two of an act en,itle
San act in relation to railroad corporations"
approved November l3, lS49 is hereby re-
peaed.
Sec. .. This act shall take effect from and
after the rst day of December next.
Approved Nov. l3, 1850.
NO. 4y.-AN ACT RELATING TO RAIL.
ROAD CORPORATIONS.
is hareby enacted Sc.
Sec l, Every railroad corporation within
his 5 ate, shall have power to issue their notes
'r bonds tor the purpose of building, or iurn-
'hlns their roads, or paying any debts con-
tracted for building or furnishing the same,
bea ring such rate of interest, not exceeding
seven per cent, and secured in such manner,
as they may deem exPedient.
SEC. ?. All bonds or notes which have
'een or which hereafter may be issued by any
uch corporation. for the purposes aiorsaid
ha be binding and collecable in law, not
such notes or bonds were nego-
lated and sold by such corporation at less than
'ar.
SEC. 8. All notes or bonds which may be
ssued under, and by virtue of the provisions of
his act, shall be issued for sum not less than
ne hundred dollars and shall be made PAYABLE
n not less than three years, nor more than
wenty years from the time of issuing the same.
SEC. 4. This act shall take effect from its
assage.
Approved Nov. 0, 1850
10, 5O.-AN ACT RELATING TO RAIL.
ROAD CORPORATIONS.
is hereby en- Icied Sc