The Placer herald., 1864-05-28
The New Law Regulating Assessments i'm
Mining Stocks, and Mining ADVERTISE

anu oiiCeiS W lulnlllp COuiputllHoS.
An Act Concerning Assessments upon the Stock
of Corporations.
Section l.. The trustees of any corporation
formed under the general laws of this State shall
nave power to levy and collect, for the purpose
OF paying the proper and legal expenses of such
corporation. assessments upon the capital stock
thereof, in the manner and form and to the ex-
tent hereafter provided and not otherwise.
Sec. 2. No assessment shall exceed five per
cent of the capital stock of the corporation, and
none shall be levied while any portion of any
previous assessment shall remain unpaid or uncol-
lected except in cases where all the powers of the
corporation shall have been exercised in accord
ance with the terms of this act, for the purpose of
collecting such previous assessments and except
also, the collection OF previous assessment a.
gainst more stockholders. restrained by in
Junction or otherwise; in which case, further as
sessment may be levied and collected according
to this act.
Sec. 3. No assessment shall be levied except by
order Of the Board OF Trustees concurred in by a
majority of said board and entered upon the re-
cords Of the corporation.
Sec. 4. Every order lcvying IN assessment shall
specify the amount thereof, and the time when
the person or persons to whom and the place or
places where. the same is payable. 1t shall also
appoint day for the advertisement of a delin-
quent list, which shall not be less than 80 nor
more than IS days from the time of the making
of such order; and day for the sale of delinquent
stock, which shall not be less than ten nor more
than 20 days for the time appointed for the ud
vertscment of the delinquent list
| Sec. 5. Upon the making of such ar order the
secretary shall cause to be published Immediate
| ly notice thereof in the following form:
Name in iull.'l [Location Of works No
tce is hereby given, that at a meeting of the rus-
tees of said company. held on the [datel an as
SeSsment Of [amountl per share was levied upon
the capital stock of said company, payable when.
to whom and where. particularly,l Any stock
upon which said assessment shall remain unpaid
on the [day fixed1 will be advertised on that day
as delinquent, and unless payment shall be made
before. will be sold on the [day appointed to pay
the delinquent assessment. together with costs of
advertising and expenses OF the sale. signature
of secretary with particular location of Office T.
Sec. 6. Said notice shall be published once each
week for Jour successive weeks, in daily or
weekly paper, published in the place designated
in the articles of Incorporation, and also in some
paper published in the county in which the works
of the corporation are situated, if paper be pub
lished therein; provided, that if the works of the
corporation are not situated within some State or
Territory Of the United States, then publication
in paper Of the county shall not be necessary;
and provided, also, that if there is no paper reg
uarly issued on Saturdays at any place where
publication is required to be made. the notice
may be made in every issue of the paper which is
most frequently issued at such place for the full
period of tour weeks; and provided, also that if
there is no newspaper published at the place de-
signated as the principal place OF business OF the
| corporation. then the publication shall be made
in the newspaper published nearest thereto; and
provided, also, that the notice specified in the 9Th
| section of this act may be served by delivering a
copy thereof. certified by the secretary, TO each
stakeholder personally, and in case OF such ser
vice upon all the stockholders of said corporation,
| then no notice by publication shall be necessary,
and such personal notice shall be deemed com
| plcte.
Sec. I. If any portion of the assessment men
toned in said notice shall remain unpaid on the
day specified therein for the publication of the
tice of sale, the secretary shall. unless otherwise
ordered by the Board Of Trustees cause to be
published in the same papers in which the notice
provided for in section shall have been publish
ed, notice substantially in the following form:
II Name in fall; location OF work5.] Notice.
There is delinquent upon the following described
stock on account of assessment levied on the
! 1datc and assessments levied previous thereto
[if any,l the several amounts set opposite the
names OF the respective shareholders. as follows;
Names. number of certificates, number Of shares
amount] And in accordance with law, and an
order OF the Board Of Trustees, made on the
[date if any such order shall have been made
may be necessary will be sold at the particular
place. the [date.l at 1.-THE hour] of said day
TO pay said delinquent assessments thereon, to-
gether with costs of advertising and expenses OF
the sale. Name Of the Secretary, with particu.
| lar location of ollice.]
Sec 8. Said last named notice shall state every
certificate of stock separately. vii the number OF
shares which it represents. and the amount due
| thereon except where certificates may not have
been issued to parties entitled thereto, in which
the number of shares. and the amount due there
| on together with the fact that the certificate for
such shares have not been issued. shall be stated
Sec. .. Said notice. When published in a daily
or weekly paper, or in both, shall be published as
| follows: When published in q daily paper the
same shall be published for period Of ten days
! excluding SUNDAYS and HOLIDAYS. previous to the