Fergus County argus. [volume] (Lewistown, Mont.) 1886-1946, 1905-04-05

conveyance of the whole or any part
Of the property of said corporation au-
thorized by said proposition or reso-
luton, shall thereupon take effect and
have the same force as IL all the
stockholders of the corporation had
consented thereto;
provided, that nothing contained in
this act shall be deemed to limit or
restrict the powers of the board of d.
rectors or trustees of such corpora
tions in relation to the disposition OF
property or the conduct of business.
Provided further, that this act shall
not be SO construed as to effect any
cases now pending in the courts Of
this state or of the United States.
Sec. 2. II disposition shall be
made by sale, as above provided, Of
the whole of the property of such cor
poration, the corporation shall there
by be dissolved, and its affairs shall
be wound up, as provided for in other
cases of dissolution of corporations.
Sec. 8. Any stakeholder who shall
not, at said stockholders meeting,
have voted for or authorized the prop
osition or resolution for the DISPOSE
ton of property which may have been
adopted at such stockholders meet
ing, may, within 20 days after the
date of the stockholders meeting,
give written notice to the said corpor-
alton that he does not assent thereto,
and also a like notice to the grantee
or vendee; provided, that such grantee
or vendee, or agent or representative
of such grantee or vendee be within
the state, and demand payment OF the
value of his stock, and within ten
days after service of said notice he
must, or the said corporation, or its
grantee or vendee, may make appl1-
cation in the district court of the
county where the principal place OF
business of the corporation is situat-
ed to have the value of his stock fix
ed and appraised, of which applica-
ito nat least ten days previous notice
must be given by the person so ap-
plying to the other parties. The no.
tees hereinafter provided for may be
served in the manner provided by law
| for the service of summons in cases
| in the district court. Upon said ap-
plication, the said district court shall
appoint three competent and dis1n-
! terested persons as appraisers, and
designate the time and place of their
first meeting to appraise the value OF
the stock of such dissenting stock
holders, and give them such directions
as the said court may think proper.
The court may fill any vacancies in
the board of appraisers, occurring by
refusal or neglect to serve, or other
wise. Said appraisers shall meet at
the time and place designated by the
court, and they or any two OF them
shall take an oath to honesty and
faithfully discharge their duties, and
shall hear and take evidence In re
lation to the value of the stock Of
such dissenting stakeholder at the
time of his dissent, and find the value
thereof, and return and file their re
port and appraisement with the CLERK
of said court. The charges and ex
penses of such appraisement shall be
paid by the corporation or its grantee
or vendee.
Sec. 4. Either party to the appraise
ment and award of such appraiser:
may, within 80 days from the filing
of the same and service of notice
thereof, appeal from such award tt
the district court of the county il
which the same is made and filed, ant
thereupon the value of such stool
shall be re-assessed by jury in tn
same manner as appeals are takel
and trials had on appeals from tn
assessment of commissioners in con
demnation proceedings provided b.
law. When such appraisement o
award shall become final, the .cour
shall enter judgment in favor OF sue
dissenting stakeholder and against tn
( corporation and it's grantee or vende
: for the amount of said award, with e1
penses and costs of proceedings, an
: execution may be issued on said jude
r ment as in other cases. The juds
: ment may also provide for the sal
> of the property affected by the lie
hereinafter provided for. The clair
, of such dissenting stakeholder TO
! compensation and costs, as aforesaid
and the appraisement and award an
I judgment thereon shall be and renal
: a lien upon all the real property {
9 the corporation as conveyed or dispo!
I ed of in pursuance of the stOckholt
t ers' resolution, and shall be prior an
j superior to the rights of the granite
. or vendee to all such property; bt
i the claims of all dissenting stool
holders for compensation and the
& several appraisements, awards an
judgments, shall be equal liens upo
e said property, without precedence {
e priority between themselves. Whe
the amount of such appraisements an
e costs shall have been paid to or CO
# lected by such dissenting stockholde
II or deposited with the clerk of the sal
> court for him, he shall cease to hay
t. any interest in said stock or in til
< corporate property of such corporate
D which may have been sold or dispose
IS of in pursuance of the resolution
4 the stockholders meeting as here
d provided, and the stock of such di
r senting stakeholder shall thereup
y come the property of the party sati
4, flying the said judgment or apprais
a, ment unless otherwise provided for
'r contract between such corporation al
IS its grantee.
II Sec. s. Nothing in this act shs
y be deemed to limit or affect anythil
r contained in the act of the Sixth sc
d. sion of the legislative assembly, ent
,r led: An act to enlarge the powe
ID of mining corporations to dispose I
IL sell. mortgage, exchange, or otherwi
'e convey, all or any part of the proper
ID of such corporations, and to authori
e. and empower such corporations to
p pose of, sell, lease, mortgage, or 9TH
s wise convey, the whole or any pa
IT. of the property of such corporation
Or and to protect stockholders dissenti
I'd from such actions of such corpol
p tons.