Bismarck daily tribune., 1903-03-30
ACT RELATIVE TO CREAMERIES

ACT RELATIVE TO CREAMERIES.
Is. b. No. 1O6-JohnsOn.)
An Act for the Creation of Corporations
for the Purpose of Establishing and
Maintaining Creamerles.
Be it enacted, ETC.:
Section l. Any number Of persons,
not less than three (3), and a ma
jority of whom shall be residents of
the county in which the corporation
hereinafter provided for has its plant,
may. by articles of agreement in writ
ing. associate themselves as a corpora
ton for the purpose of engaging In
and carrying on the erection, con-
struction and maintenance Of one or
more creameries. The articles OF in
name of the corporation, the state
ment of the nature of its business, and
the principal place where the business
of said corporation shall be trans
acted; second, the time of the COM
mencement, and the period of contin-
uance of said corporation, which
period of continuance shall be no. 10
exceed twenty (20) years; third. the
amount of capital stock Of said cor
poration, and how to be paid in;
fourth, the highest amount Of indebt-
edness or liability to which said cor
poration shall at any time be subject;
fifth, the names and places Of resi-
dence of the persons forming such
association for Incorporation; sixth,
the names of the first board Of direc.
tors, and in what omcers or persons
the government Of the corporation ana
management of its affairs shall be
vested, and when the same are to BE-
elected; seventh. the number ana
amount Of the shares OF the capital
stock of said corporation. Said incOr-
porators, upon executing and acknOwl-
edging such articles OF Incorporation,
shall file the same IN the office OF
the register Of deeds of the county
where the principal place of business
is to be, and 1t shall be the duty Of
such register of deeds to record the
same And upon filing said articles
of incorporation with such register Of
deeds, said corporation shall be
deemed body corporate for the pur-
pose for which the same is incOr-
porated, may sue and be sued In its
corporate name, may take, acquire and
hold, sell and convey any and all
property, real, personal or mixed. incl
dent to the business Of carrying on
and maintaining creamery.
Sec. 2. The capital stock of such
corporation shall not exceed the sum
of TWENTY-FIVE thousand dollars
($25,OO0.O0) to be divided into shares
of the par value of not less than ten
dollars $4,000 per share; and said
corporation can commence business
whenever twenty per cent OF the cap
ital stock is subscribed and paid for.
Sec. g. Any corporation organized
under the provisions Of this act shall,
on or before the 30th day of Decem-
ber of each and every year, make re-
port to the commissioner Of agricul'
ture and labor of the state OF North
Dakota, or such officer as may at any
time, by law, be given the supervision
of dairy products such report shall
state the name of the corporation. the
principal place of business, the loca
ton of its creamery or creameries
and the number of pounds of butter OF
other dairy products manufactured n
such corporation during the preceding
year.
Sec. 4. Such corporation may
amend its articles of incorporation
within the purview of this act. at any
general stockholders meeting, or a!
any special meeting called for that
purpose upon ten Q0) days notice
given to the stockholders.
Sec. s. Whereas, an emergency
exists inasmuch as there is no ace
quate law regulating the incorpora.
ton of corporations for the pm'posc
Of maintaining creameries, TINS ACT
shall take effect and be IN force from
and after it's passage.
VETOED.
NV approval Is withheld to this OIL
by reason of the following oo;ections:
It seeks to provide a special methoo
for the incorporation Of creamerics IN
conflict with our general law GOVERNS
creameries. No special Dement'S can
be obtained under this bill that can,
not be obtained under the general
8o6mE