Gloucester County Democrat. (Woodbury, N.J.) 1878-1932, 1882-05-18
fBT AuTnoRrTYl
LAWS OF NEW JERSEY,
CHAPTER cxLv,

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CHAPTER CxLv.
An Act FOR the relief ef the holders Of stock OF am
corporation OF this state whose certificates OF
stock have been lost or destroyed
!. 5e 't enacted BY the Senate and General As
eembly OF the State ef New Jersey, That every
cooperation Of this state shall have the power to
issue new certificate or certificates of stock In the
pace OF any certificate or certificates theretofore
issued ny 1t but which, it is alleged, have been lost
9r destroyed, and the directors authorizing such
Issue ofa new certificate or certificates nav ii
tnen discretion, require the owner of such lost OF
destroyed certificate, OF his legal representatives
give tne corporation bond, In such sum az they
may Direct as security against any claim that may
oe made against such corporation; but said direc-
tors may direct snch issue OF new certificate or
ceruncates without requiring any bond security,
when In their Judgment Ii is proper for the corpo-
ration so to do, when application is to be made
under section two OF this act, the corporation shall
require bond to be given equal to the mar ket
va Inc of the stock lost or destroyed.
And be 1t enacted. That when any corporation
shall have issued new certificate or certificates
OF lost or destroyed certificates representing stock
exceeding the par value OF twenty thousand dollars,
sucn corporation may apply to the chancellor, or
Quir1ng all persons In interest to show cause, at
time and place TO be named therein, why the cor
porstlon should not be discharged OF and from all
Issuing Of such new certificate or certificates OF
stock IS aforesaid and why all persons claiming
any title TO or interest IN the old certificate
nncates, so lost or destroyed aforesaid, should
not be barred from all right of action Hereunder
that upon the presentation Of such application said
chancellor or any justice of the supreme court to
whom the same shall be presented, shall make an
order directing all persons in interest to show
cause IS aforesaid the application shall be by petit
ton, duly verified by one OF the officers of the cor
Poration, and shall state the name OF the corpora
ton; the number and date of the certificates g. if
known; the number of shares OF stock named
therein; to whom issued: the name Of the owner
thereof at the time the lost or destroyed,
and Of the present owner far as known the chan
celior or justice of the supreme court, in making
the order to show cause shall direct that service OF
said order be made either within or without the
state upon the person named in the petition as the
owner Of the stock lost or DESTROYED, and shall
also direct copy Of said order to be served upo
al others In interest, by publication thereof in
one or more newspapers in this state, or else
where, and said order shall require said alleged
owner and all other persons in interest to appear
and show cause, as required by said order; and
such publication shall be once week, for not less
than two weeks, or more than four weeks; the
order to show cause shall be returnable not more
than SIX weeks from the time Of the presentation
thereof to such chancellor or justice and shall re-
quire all persons claiming any interest in said
stock to appear on the return day Of said order,
and show cause As aforesaid; and on the. return
Gay OF said order and upon proof of the service and
puolcaton as Aforesaid, said chancellor said
Justice shall proceed in a summary manner and in
into the truth of the facts stated in the petition
and shall hear such proof and allegations as may be
offered by or in behalf Of the petitioner relative to
the subject matter Of said application and if upon
such inquiry the said chancellor Justice shall be
satisfied that the person to whom the new certificate
of stock was issued by such corporation, was the
etrnction of said certificates Of the capital stock
of said corporation, for which such new GER
tifcafe was issned by said corporation; and
that the certificate is for the number of shares
30 lost or DESTROYED as aforesaid: and that the
old certificate or certificates cannot, after due
dlllgence, be found, ana If no person shall
owner Of, or interested in, the old certificates
80 lost or destroyed, other than the person
70 @aom the new certificate or certificates were so
issued as aforesaid, then said chancellor justice
may IN their discretion make order adjudicating
that the holder Of the new certificate certificates
was the owner of the old certificate SO lost or de-
stroyed, and decreeing that said old certificates
shall be of no further validity effect whatever,
and shall be absolutely void; and that no person
shall thereafter have or maintain any right of
tion Hereunder, in any way thereafter; providing
In such order for the protection Of the rights Of in
fants OF persons under legal disabilities q any such
appear by the testimony 10 EXIST; and such order
20 made shah be fled in the office Of the secretary
OF state, and upon such filing, such order shall be
notice to all persons, and all persons shall be bound
thereby, but any bona fde holder Of the stock rep
fesented by such lost or destroyed certificate or
certificates may At any time within sixty days after
OF state, apply to have said order vacated, and
fhereupon such proceedings shall be had by said
chancellor or justice for reLearing IS they shall
direct; such order shall not affect the rights Of any
bona fde holder Of stock who has acquired the
same after its loss by the rghtfu owner thereof and
prior 70 the expiration Of sixty days from the date
OF the aling of such order as aforesaid in the Office
OF the secretary Of state.
g. And be it enacted, That whenever any COR
poration, incorporated under the laws Of this state
shall have refused to issue new certificate Of stock
m the place OF one heretofore issued by it, but
which, 1t is alleged, has been lost destroyed, the
owner Of such lost or destroyed certificate, or his
legal representatives, may apply to the chancellor
or any justice OF the supreme court for order re-
Qnlring such corporation to show cause why it
shopid not be required to issue new certificate of
IN the place Of the one so lost or destroyed
9plication shall be by petition, duly verified
b 5wner, OF his legal representatives. in which
Ezif stated the name of corporation, the number
and date of the certificate, If known, the number OK
shares OF stock named therein and to whom issued,
and as particular statement Of the circumstances
attending such loss or destruction as such petit
tioner shall be able to give; upon presentation OF
snch petition the said Chancellor or justice shall
make an order requiring the said corporation 10
show cause, at q time and place therein mentioned,
why it should not be required to issue new certi-
cate Of stock in the place OF the described in
the said petition; copy Of the said petition and
ident, or other head OF such corporation, or
upon the cashier, secretary treasurer thereof
personally, at least ten days before the time des-
ignated in said order for showing cause.
Z ! And be it enacted, That at the time and place
pecfned in said order Crowded for in section
three1 and upon proof Of the due service thereof,
the said chancellor or justice shall proceed in a
summary manner and in such mode as he may deem
advisable, to inquire into the truth Of the facts
stated in the said petition, and shall hear such proofs
and allegations as may be offered by or in behalf OF
the petitioner or by in behalf Of the said corpo
ration relative to the subject matter Of such in
qulry, and q, upon such inquiry. the chancellor or
Justice shall be satisfied that such petitioner is the
lawful owner of the number of shares of the capi-
tai stock or any part thereof, described in the said
petition, and that the certificate therefor has been
lost or destroyed and cannot after due diligence be
found, and no sufficient cause has been assigned
why new certificate should not be issued in place
thereof, said chancellor or justice shall make an
order requiring the said corporation, within such
time as shall be therein designated, to issne and
deliver to such petitioner new certificate for the
number Of shares Of the capital stock Of said
peratinn which shall be specified in such order
as owned by such petitioner and the certificate
for which shall have been lost or destroyed; In
making such order the said chancellor or justice
security, or file snch bond, in such form and with
Euch sureties as to the chancellor Justice shall
appear sufficient to indemnify any person, other
than the petitioner, who snail thereafter appear to
be the lawful owner OF such certificate stated to be
lost stolen, and to indemnify the said corporation
against all loss or damage which It shall sustain by
reason of claims made against it BY other persons
upon account of such lost, stolen or destroyed GER
tilcate and the chancellor justice may also di-
rect the publication Of such notice, either preceding
nr succeeding the making OF such final order, It
deem proper: any person or persons who shall
fhefeaffer claim any rights under such certificate,
80 alleged to have been lost destroyed shall have
to the said indemnity, and the said corpor-
alton shall be discharged Of and from all liability to
such person or persons, by reason OF compliance Of
the order aforesaid. obedience to such order may
be enforced by said chancellor justice by attach
ment against the officer officers of such corpora
ton, upon proof Of his or their refusal TO comply
with the same.
s. And be il enacted That this act shah take effect
Immediately.
Approved March rs. 1889.
CHAPTER CXLvITL
An Act relative to past due taxes and assessments
In towns, townships and boroughs-
/. Be it enacted by the Senate and General AS
emblyof the State Of New Jersey, That it shall be
hwful for the township committee Of any township
b this state TO compromise and adjust with any