The Sunday tatler and Jersey City express. (Jersey City, N.J.) 1883-1886, 1885-05-24
CHAPTER xxxy1II.

An Act for the formation of incorporated associa-
lions by the membership of fraternal societies
in this state. A
l. Be it enacted by the Senate and General AS.
sembly of the State of New Jersey, That it shall
be lawful for any number of members not less
than twenty FIVE, representing at least five separ
ate lodges or councils of any fraternal society
having grand jurisdiction within this state when
met together under cali duly published in at
least one newspaper Issued and circulating within
the county wherein such lodges hold their meet
ings stating the object Of said meeting to be to in
corporate under this act. and the time and place
OF said meeting which said call shall be signed by
chairman and secretary Of what purports to be
a Temporary organization of members Of such fra
ternal society previously made, to select by two
voting, name for such association. and by like
vote TO elect fifteen members of such fraternal So
ciety to be the trustees thereof
z And be 1t enacted, That said trustees when
elected shall forthwith make certificate signed
and sealed by each of them, and duly acknowl-
edged to be their hand and seal and file the same
with the county clerk of the county wherein said
association shall have organized which certificate
shall be recorded by the county clerk. and after
such record the same shall be filed in Office of the
secretary OF state and upon the filing thereof the
secretary of state shall issue certificate To said
trustees declaring them to be, and from the date
Of said certificate they and their successors shall
be, corporation under the laws of this state; that
said certificate thus filed shall contain the follow
ing facts:
!. The name selected to designate the associa-
ton in its business.
II The place where the business of the associa-
ton is to be conducted, which must be within the
county where organized, and the object for which
said association is formed
Ill. The total amount of the capital stock Of
the association which its trustees are authorized
to issue by the vote of two-thirds of the members
at said meeting for organization. which amount
said meeting is hereby required to fix, and which
shall not be less than two thousand dollars or
more than one hundred thousand dollars, and the
amount with which they will commence business,
which shall not be less than subscription of
twentyv per cent. of the total capital stock the
par value of the shares of which shall not exceed
ten dollars. --
~ The name and residence of every member
present at the meeting for organization. and the
lodge or council to which he shall belong.
3. And be it enacted That associations incor-
porated under this act shall have full power and
lawful authority to take, hold, receive grant and
convey by deed, bequest or devise any and all
land and real estate necessary and proper for the
prosecution of their business.
4. And be it enacted, That the sole and only
object of associations created under this act shall
be TO purchase the necessary land and buildings,
or build and erect such building or buildings upon
land purchased by or devised to them. and fur
nish and repair the same for use and occupancy
as public or private hall, opera house theater or
other like public or private building, with the
right to let parts thereof for general business pur
poses.
5. And be it enacted. That the trustees first
elected as aforesaid shall hold their office for
year from the date of the certificate of organiZa-
ton filed by them and until their successors are
elected and enter upon the discharge of their
duties that said trustees shall be authorized to
open books of subscr ption TO the capital stock of
said association as fixed Icy its certificate of incor
poration and require the payment of said capital
stock in such installments may be deemed neces-
sary for the needs of the association but said trust
ees shall in no case be required to receive any
subscription Offered by or to issue any of the
capital stock to any person not a member of the
fraternal society whose membership organized
the association.
6. And be it enacted That any such association
if it shall discover that its capital stock is INSULT
cient TO fulfil its requirements. may, through its
board of trustees. with the written consent of two
thirds in interest of its stockholders at any time
increase its capital stock to such an amount as
may be SO consented TO by the stockholders pro-
vided said increase and original capital stock
shall not exceed two hundred thousand dollars
7. And be it enacted That an annual meeting
of stockholders shall be held on the first Monday
in June in each year. of the time and place of
which meeting ten days previous public notice
shall be given by advertisement in at least one
newspaper published within the county where
such association exists and by like personal
notice to be mailed to each stakeholder Of the as
ISOLATION at his residence SIS stated upon the stock
book of the association, at which annual meeting
the trustees shall make, through the treasurer of
the board a full and detailed account of all re-
ceipts and disbursements by them made which
report shall be certified TO as correct in every item
thereof by committee of at least three of the
board of trustees and shall be open for inspection
to any stakeholder at any time after said meeting
at the office of the president of the board of trust
ees whose duty it shall be to take and retain such
report that the pres dent of the board of trustees
shall call said stockholders meeting to order and
preside thereat. and secretary shall be elected
by the meeting; in the absence of the president of
the board any stakeholder may call the meeting to
order and the meeting choose some stakeholder
to occupy the chair and said meeting when organ
lied shall by majority vote of the stock voted
thereat select fifteen trustees for the next ensuing
year, whose term of Office shall begin Immediately
upon their election. and the chairman and secre-
tary shall certify the result of the election by
q certificate under their hands, which shall be
filed by the secretary OF the board of trustees with
the papers in his office and duly entered in the
minutes of the stockholders meeting.
s And be it enacted. That the board of trustees
shall have power to adopt bylaws for the regula-
ton and government of the association and the
conduct of business and to alter, amend or repeal
the same by two-thrds' vote of the board at any
regular meeting if notice of the proposed altera-
ton, amendment or repeal shall have been given
at previous regular meeting. and II may be pro-
vided by said bylaws that the stock Of said ssso-
citation shall or shall not be voted by proxy; that
the members elected on the board trustees shall
after their election Immediately meet and organ
ize by the election of president secretary, treas
urer and such other officers as the bylaws may
provide
9. And be it enacted. That this act shall take
effect Immediately
Approved February %, 1885.