The Sunday morning news. [volume] (Jersey City [N.J.]) 1886-1891, 1890-07-27
THE SUNDAY MORNING NEWS. JULY 81. 1890

forming such board or association, which
certificate shall set forth
]. the name assumed to designate sucl
board and to be used in its business ane
I dealings;
Ii. The place where such board or asso
citation shall be located and the object fol
which it shall be formed;
III Such certificate shall be proved o.
ackno wledged by the parties signing the
same and recorded in the Office of the
clerk of the county where the board shall
be located, and filed In the Office of the
secretary Of state.
4. And be 1t enacted, That upon such
certificate being fled the said board OF
association shall be a corporation in fact
and In law, and shall have power.
l. To have succession by its incorpor-
ated name for such time as said board
shall continue In existence;
II. To sue and be sned, complain and
defend In any court of law and equity;
Ill To make and use q common seal or
alter the same at pleasure;
~. To hold. purchase and convey such
real and personal estate as the purposes
of the corporation shall require, and to
mortgage any real or personal estate
which shall come by devise or bequest;
provided, that the funds and property OF
said organization shall be used for the
purposes Of It's organization and for no
other;
v. TO make and change bylaws notin-
consistent with tho constitution or laws
Of this state, and to fix the number and
qualifications of Its directors for the
management Of It's business and the
regulation and the government of its
affairs, which number of directors may
be altered by vote of the corporation.
vi. 10 wind up aud dissolve itself or to
be wound up and dissolved as shall be
determined by a vote of the majority of
t.
tice, served personally or published for
two weeks in newspaper, Of such in
tended dissolution.
s. And be it enacted. That the persons
signing the certificate of organization
shall constitute the first directors for the
board or association.
6. And be it enacted, That such direc-
tors may elect chairman and secretary,
and such directors shall be vested with
such powers and shall perform such
duties as the bylaws OF the. board, when
fully organized. snail prescribe.
z. And be it enacted, That the SAID di-
rectors shall proceed to organize the
board or association of which they are di-
rectors by the addition of persons whose
duties and privileges shall be prescribed
by the bylaws of said corporation, by
which all members, including the direc-
tors, shall be governed.
g. And be it enacted, That the board or
USSOCi1LlOil IIiect at SUCH tlffaSb anu
places as shall be prescribed by its by
laws within the city, town or place in
which it is organized.
g. And be it enacted, That the board or
corporation may have any number of
members. whose qualifications and duties
shall be prescribed by the bylaws.
10. And be 1t enacted, That the charter
directors of the board or association to be
formed shall hold their Office until the
first election prescribed by the bylaws Of
the association after incorporation, when
new set of directors may be elected, and
thereafter directors shall be elected an
nually and Shall hold Office for one year
or longer, as shall be regulated by the by
laws.
IL And be it enacted, That no one shall
be director but member Of the board
or association in good standing, and the
officers of directors may be different from
the officers of the board or association.
12. And be il enacted, That a board or
association organized under this act shall
and such other officers SIS the bylaws
shall prescribe.
ID. And be 1t enacted, That the direc;
tors may advise with the board or associ-
alton, but shall have no control over its
action against the vote OF the majority Of
che beard or association at any meeting
properly called.
IA. And be it enacted, That the common
seal adopted by the board or association
to verify its acts shall be in the custody
Of the secretary and be fixed by the direc-
ton of the board or association.
10. And be it enacted, That any board
of trade or chamber Of commerce or other
association for the promotion OF the good
commonwealth now organized, or may be
organized under this law, by complying
with its provisions.
16. And be it enacted, That this act
shall Be public act and shall take effect
Immediately.
Approved April Z. 1890.