Daily Kennebec journal., 1901-03-23

1
changes In char.cr or certificate Of organ
| ZatiOn.
S.c'"n u. ANY corporation of this
Sta,c may purchase mines. manufactures
ana oth' 4 i'rt .'erty necessary for !, s bus
| mess. and the stock Of any COMPANY or
companies owning mining. manufa ctur-
Ihe or producing materials or other prop
eftF necessary for its business and issue
STOCKS to the amount Of the value there
or In p'ymert therefor, and may likewise
isSn" stock for services rendered to such
corporation and the stock so issued shall
ne tull paid stock and not liable TO any
lurthcr eau or payment thereon: and in
! th' ah'encc or actual fraud in the trans
action. the judgment OF the directors as
l'o me Vhiu" OF tie property purchased. or
ScrNices rondc red. shall be conclusive
S'"ti'n II. Any corporation organized
llAh'r chapter forty-cight of the revised
sIain'cs may purchase hold, sell, assign
transfer, mortgage, pledge or otherwise
dispose Of the shares of the capital stock
oi, or any bonds securities or evidences o,
ebicdncsS created by any other cor
poritiGn or corporations of this any
othrr state, territory or country. and
all the rights. powers and privileges of
Cwn"rSflip. including the right to vote
thereon
Section l.. A copy OF every decree or
| judgment dissolvirg corporation or for
| lett ng us charter shall be forthwith filed
by the clerk OF the court In the office Of
the sccreiarr Of state and there recorded.
Section rs. Section thirty-One OF chap
| tor fortV-six Of the revised statutes as
amended by chapter three hundred and
Ilitc"n of the pubic laws OF eighteen hum
| drcl and cighty-fivc Is hereby amended
! by striking out in the first line of said
section the words and clerks or trcasur-
crs. 50 that said section, as amended
! shall read as follows:
! Sc ,tion Il. Such cashiers shall, be-
| tween the first day Of November and The
| eighth day of December, annually make
| return 20 the secretary of state of the
natneS of All stockholders, their residen-
t"s. the amount of stock owned by Zach
| ;Ld tn" whole amount Of stock paid In
on said first day Of November. The sec
| rctarN shall lay the same befor. the leg
stature within the frs: thirty days OF the
| scG:Tiua.
Section Il. Section nyc Of chapter, forty
/ six rf the revised statutes II hereby
! amcnUcd hv adding dfj,r the word pres
| .nt." the words In person or by proxy.
| 50 that sa!d aection. as amended, sHal
| read follows.
'Section .. When all the members uf
| corporation are present In person ~ ~
! Ir1Xy AZ u meeting and sign a written
| consent on III" record thereof, Such meet
| ing IS legal.
| Socti N Is Section twenty Of chapter
| f"rty-eirht of the revised statutes as
| q mcIid"d by sector three 0i chapter
ninety ~ the laws Of eighteen hun
drcd and mine y-on, and by SECTION Two
Of chapter two hundred and twelve ~ the
Laws nf Eighteen hundred and ninety
three is hereby amended by striking niil
he words. not exceeding ten million DOT
| l:as'' So hat said section a. amended
| shall read "a follows.
section ~ II the Stockholders "i any
| corporation created nv special Chartri
| ir'i not charged with tha perf"rniarc. ~
any Iub',C duty. or oiganiz' q under n"
, general ItvS ~ the state. itnd th.t the
! amount 81 its capital stock is insufficient
| for n. purpose for which said corpora tipn
! iS organize. or that IA" number Of az
| rcctors is inConVcuicnt for In" tranSaC-
tion of it's business. the stockholders may
| by vote representing majority "f the
/ stock ISSUED. increase the amount of IL
L I.as.Ha In 4,..ak TO
| change the number of their directors III
| bike manner. and the corporation shab
| lilo a ccrtinCat" thereof with the s'crc-
| tary OF state within ton days thcr.li Ter,
/ .ud fhCr"upun said vote shall take ELECT
| When tn" capital stock h. Increased from
| ten thousand dollars or less 10 not '.N-
cendiaE iive hundred thousand dollars. III"
! Corpor lliou shalt pay to the treasurer ~
state .,r the use Of the state the sum Of
| forty dollars. when the capital stock iS
| increa@ed to any amount exceeding hN
hundred thousand dollars 1t shall pay e.
| the treasurer Of state for the use Of the
| sta'" tho sum OF ten dollars for each ore
Hundred thodSanu dollars of Such IN
| crease. and the treasurer receipt for the
same shall be filed with tn" secretary Of
| state before he shall he authorized 10 re-.
| cfive any certilicatc Cf any Increase o.
Section 70. AIRY corporation whose
duty IT is "a make the return provided by
plving with section thirty-six Of chapter
! f"rtv-six of the revised statutes. be "X-
cu1ed from making such returns so long
as its franchises remain unused
section ~ Ali dftS ana parts "l d'lS
Inconsistent with this act are hereby re-
pealed lApproved March I'll
Chapter go
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