Gloucester County Democrat. (Woodbury, N.J.) 1878-1932, 1885-05-14
CHAPTER xxxv1I1.

An Actor the formation Of incorporated associations
by the membership Of fraternal societies in this
Be it enacted by the Senate and General Assem-
bly, Of the State of New Jersey That it shall be law
1ul for any number Of members not less than twenty
nve representing at least five separate lodges or
councils Of any fateFnal society having grand urs-
dletlon within this state when met together under
and circulating within the county wherein such
meeting To- be TO- incorporate under this act and tho
time and place Of said meeting which said ca shall
ports to be Temporary orranization IL embers ~
such fraternal society previously made, to select by
voting, name for such association, and BY a like
vote to elect fifteen members of such fraterna soci
2 And be It enacted, That said trustees when
elected shall forthwith make certificate signed and
sealed by each OF them, and duly acknowledged to
be their hand and seal. and file the with the
county clerk OF the county wherein said association
corded by the county clerk and after such record the
state and upon the ming thereof the secretary 81
state shall issue certificate to said trustees declar
ing them 70 be- and from the date OF said certificate
they and their successors shall corporation under
the laws Of this states that said certificate thus filed
II The name selected to designate the association
in Its business
H. The place where the business OF the association
is to be conducted, which must be within the county
where organized and the object for which said asso
III The total amount of the capital stock of the as
sociation which its trustees are authorized to issue by
the vote OF twothrc3 Of the members at said meet
ing for organization which amount said meeting is
X,
than two thousand dollars more than one hundred
thousand dollars, and the amount with which they
subscription OF twenty -ve per cent OF the total
capital stock, the par value Of the shares OF which
Nv. The name and residence OF every member pres
ent at the meeting for organization and the lodge or
5. And be 1t enacted, That associations incorpor-
ated under this act shall have full power and lawful
deed bequest Or devise any and ali land and real es
tate necessary and proper for the prosecution Of their
4 And be it enacted, That the sole and only object
OF associations created under this shall be to ur
chase the necessary land and buildings or build and
by or devised to them, and furnish and repair the
same for use and occupancy public or private
hail. opera house. theatre or other Ike public prf-
yate building with the right TO let parts thereof for
general business purposes
s And be it enacted That the trustees first elected
aforesaid shall hold their Office for year from
the date OF the certificate OF organization filed BY
them and until their successors elected and en-
trustees shall be authorized to open books Of sub
fixed by Its certificate OF incorporation and require
the payment OF said capital stock In such
sociation but said trustees no case Be required
to receive any subscription offered by or to issue any
the fraternal society whose membership organized
the association.
shall discover that its capital stock is insufficient to
fulfill its requirements may, through its board OF
interest OF its stockholders, at any time increase
its capital stock to such an amount may be SO
and original capital stock shah not exceed two hun
dred thousand dollars
4. And be It enacted, That an annual meeting Of
stockholders shall be held on the first Monday In June
in each year, or the time and place OF which meeting
ten days previous public notice shall he given BY ad
vertisement in at least one newspaper published
within the county where such association exists
and by like personal notice to be mailed to each
stockhoder Of the association at his residence as
stated upon the stock book Of the association, at
which annual meeting the trustees shall make,
through the treasurer OF the board full and detailed
account Of all receipts and disbursements by them
made which report shall be certified to correct in
every item thereof by committee OF at least three
OF the board OF trustees and shall be open for nspec
ton any stockhoder at any time after said meet.
ing the Office OF the president of the board OF
tees, whose duty it shall he 70 take and retain such
shall call said stockholders me citing to order and
preside thereHt and secretary shall be elected by
the meetingi "A me absence " the rcslieltC oI the
board any sTocRhoder may call the meeting TO order
and the meeting choose some stockhoder to occupy
the chair and said meeting wheh organized shall by
majority vote OF the stock voted thereat select f
of Office shall begin Immediately upon their election
and the chairman and secretary shall certify the
suit OF the election by certificate under their hands,
which shall be filed by the secretary OF the board OF
tered in the minutes Of the stockholders meeting
8. And be 1t enacted, That the board OF trustees
shall have power to adopt by laws for the regulation
and government OF the association and the conduct
OF business, and to altar, amend repeal the
by q two-thirds vote Of the board at any regular
meeting II notice OF the proposed alteration amend
regular meeting and it may be provided hy said by
laws that the stock OF said association shall shall
not be voted by proxy that the members elected
the board OF trustees shall after their election i'm
medIately meet and organize by the election OF a
president secretary treasurer and such other officers
as the bylaws may provide
s. And be IL enacted, That this act shall take effect
Approved February q. 1885.