The Portland daily press., 1876-06-16
Chapter 400.

Chapter 400.
AN ACT TO authorize the Formation of Railroad
CORPORATIONS.
Be 1T enacted, &C., as follows:
SECT. !. Any number of persons not less than
ten, majority of whom shall be citizens of this
state, may form a company for the purpose of con-
structiDg, maintaining and operating railroad for
public use in the conveyance of persons and property
within this state, and for that purpose may make
and sign articles of association in which shall be stat
ed the name of the company, the guage of the road
the place from which and to which the road is to be
constructed maintained and operated the length of
such road as near as may be, and the name OF each
town and county in this state through which or into
which 1t is to be made; the amount of the capital
stock OF the company, which shall not be less than
six thous and dollars for every mile of road proposed
to be constructed of the gauge of four feet eight and
half inches, nor less than three thousand dollars
shares of which said capital stock shall consist and
the names and places of residence of at least five
persons, majority of whom shall be citizens of this
state, who shall act as directors of the proposed
company, and shall manage its affairs until others
articles of association shall subscribe thereto his
name, place of residence and the number of shares
of stock he agrees to take in said company.
SECT g. Said articles of association shall not be
filed and recorded in the manner provided in section
three of this act, until the capital stock named in
section one has been subscribed thereto, in good
faith, by responsible parties and five per cent paid
thereon in cash to the directors named in said arti-
Giles of association until there is endorsed there
on or annexed thereto, an affidavit made by ma
jority of the directors named in said articles that
the amount of stock ruquired by this section has
thereon cash aforesaid and that it is intended
in good faith to construct, maintain and operate the
road mentioned in such articles of association which
affidavit shall be recorded with the articles of asso-
citation as aforesaid.
SECT. 8. When it shall be shown to the satisfac-
ton of the hoard of railroad commissioners that all
the provisions of sections and two of this act
have been complied with, said board shall endorse
upon the articles of association a certificate of such
fact and the approval OF the board in writing. The
secretary of state shall, upon the payment of the
sum of twenty dollars to the of the state,
the same with the endorsement thereon to record
ed, and shall issue certificate in the following form:
STATE OF MAINE
Be it known that, whereas, There the names of the
subscribers to the articles of association to insert
tention of forming corporation under the name of
here the name OF the corporation shall be Inserted
for the purpose of building and operating a railroad
between There insert the description of the road
tanned in the articles of association and have COM
piled with the statutes of this state in such cases
made and provided. Now, therefore, l. There the
name of the secretary to be inserted secretary
State of Maine, do hereby certify that said names
of subscribers their associates and successors are
legally organized and established existing cor
poratlon under the name of name of corporaton1
with the powers, rights and privileges and subject
to the limitations duties and restrictions, which by
law appertain thereto. Witness my official sigma
ture hereunto subscribed, and the seal of the State
of Maine hereunto affixed, this--day Of
in the year of our Lord day month and year insert
ed The secretary of state shall sign the same and
cause the seal of the state to be thereto affixed and
such certificate shall be conclusive evidence of the
organization and estab ishment of such corporation
at the date of such certificate The secretary shall
also cause record of such certificate to be made,
and copy of such record duly certified may with
like effect the original certificate be given in evil
dence to prove the existence of such Corporation
SECT. 4. The first meeting for the purpose of or
ganizing such corporation, shall be called by no.
tice, signed by five or more of the subscribers to
such articles of association. stating the time, pur-
pose and place OF such meeting copy of which no
tce SHALL days at least before the day appoint
ed for such meeting be given to each subscriber or
left at his usual place of business place of resi-
ted n 40 off maid
addressed to him at his usual place of business or
and whoever gives such notice, shall make