The daily comet. [volume] (Baton Rouge, La.) 1850-1856, 1852-09-17

icil. once a week at least, for thirty days,
but il shall not be necessary to publish the
names Of the subscriber, and any subscriber
may present, the said cllartes and subscrip-
tions for record with q recorder Of mort
cages as Aforesaid.
SEC. 5. Be Il further esdcfed, &c., That it
shall be lawful for the stockholders of any
corporation, at the general meeting conven-
ed for that purpose, to make any modifica-
tions, additions or changes in their act Of
incorporation: or to dissolve the corporation.
provided such modification, addition, change
or dissolution, shall receive the assent OF
three fourths of the stock represented at
such meeting and provided further that any
such modification, addition, change or dis
solution shall be recorded as is required by
the fourth section of this act.
Sec. 6. Be 1t further enacted, &c, That
any corporation established under this act
shall forfeit its charter for insolvency, evil
denced by return of no property found on
execution against, such corporation and that
in such case it shall be the duty of the dis.
irict court, of the district of such corpora
ton, at the instance of any creditor, to de-
cree such forfeiture and to appoint COM
missioner for effecting the liquidation,
whose duty it shall be to convert all the as
sets Of the company, including any unpaid
balances due by stockholders, on their
shares, into cash, and to distribute the same
under the direction of the court amongst
the parties entitled thereto in the same
manner, as near as may be, as is done in
cases of insolvency of individuals.
Sec. Z. Be it further enacted, &c That no
rail road plank road, nor canal shall be con-
structed through the street of any incorpo-
rated city or town without the consent Of
the Municipal council thereof and such con-
sent once obtained shall not be withdrawn
during the term of the character.
Sec. 8. Be 1t further enacted &C., That no
stakeholder in any corporation organized
under this act shall ever be held liable or
responsible in any manner for the contracts
or faults of such corporation in any further
sum than the amount of any unpaid balance
due to the company on the shares owned
by such stakeholder, nor shall any mere in
formality in organization have the effect OF
rendering character null or Of exposing
stakeholder to any liability beyound, the
amount of his stock provided the provisions
OF this act have been substantially completed
with.
Sec. 8. Be it further enacted &c That in
all cases when rail roads plank roads or
canals shall cross any high way the corpo
ration shall SO construct said works as not
to hinder impede or obstruct the safe and
convenient use of such highway and in all
cases where rail roads plank roads or canals
shall be constructed or dug across any plan
tation or land in cultivation or that may
be cultivated the corporation shall so con-
struct said work as not to hinder impede or
obstruct the drainage of said land nor shall
any privilege herein granted be SO con-
structed as to authorize or empower any
corporation TO hinder or impede or offer
any obstruction to the drainage of any lands
through which any rail road plank road or
canal may be constructed after the con-
struction of said work and if any rail road
or plank road shall in its course cross any
tide waters or navigable rivers or streams
the company may erect for the sole and
exclusive use OF such rail road or plank
road the bridges required for crossing but
such bridges shall be so CONSTRUCTED as not to
obstruct or necessarily impede the naviga-
tion of said waters or streams.
Sec. 10. Be 1t further enacted Sc That the
provisions OF the act entitled IAN act to
provide for the organization of corporations
in this State approved sixteenth of March
eighteen hundred and forty eight shall not
he so construed as to apply to any corpora
tons established under this act.
JOHN E. KING.
Speaker of the House Of Representatives
J. B. PLAUCHE,
Lieut. Governor and President of the Senate
approved March 10Th, 1852.
JOSEPH WALKER
Governor of the State of Louisiana