Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1907-03-29

Alt
Section s. The president. and a majorit,
OF the directors who are e.ccted at sucf
first meeting. shall make. sign ana MAX
oath to. in duplicate, articles seutine
forth:
a. A true copy Of the agreement Of
association. The names OF the sub-
scribers thereto. and the name. residence
and pest office address IF each or the
officers of the company;
b. The date OF the first meeting and
the successive adjournments thereof IL
One of such certificate shall be SUB
mtted TO the bank examiner and thu
other. together with the records OF the
proposed corporation, 10 the attorney
general, who shall examine the same, and
who may require such amendment there
of such additional informa ton as ne
may consider necessary. Ii he finds thai
the articles conform 70 the provisions Of
the preceding sections relative to the or
gHniZation OF the corporation and that
the provisions Of section three have been
comrn-d with, ne shall SO certify and
endorse his approval thereon. Thereupon
the articles shall be filed In the office OF
- the secretary of state. who shall cause
the same. with the endorx ment thereon.
to be recorded and shall thereupon issue
D certificate Of ineorPora tor in the fol-
lowing form:
STATE OF MAINE.
Be it known that whereas (thc names
o. the subscribers to the agreement OF
association lave associated themselves
with the intention OF forming corpora
ton under the name of (the name OF the
corporation). for the purpose tthe pur-
pose declared in the agreement Of asso-
ciatiom. with capital stock of thc
amount nxed in the agreement Of assoc
cfation). and have complied with the pro
visions Of the statutes oil this state III such
case made and provided. as appears from
the articles Of organization of said cor
poration, duly approved by the attorney
general, and recorded in this Office: now.
therefore. I. Uhe name of the secretary
secretary Of the state Of Maine. do here
BY certify that said, tthe names of the
subscribers to the agreement OF assoc a.
tion.l their associates and successors, arc
legally organized and established es ami
are HEREBY made. an existing col operation
under the name OF. name or the corpora
tor. with the powers. rights and pr5vi-
ieges. and subject 20 the limitations
duties and restrictions. which BY law ap-
pertain thereto.
Witness my official signature hcreunto
subscribed. and the great seal OF the
state of Maine horeunto affixed this day
of in the year
the date of the filing of the articles OF
The secretary shall sign the certificate
OF incornor alton and cause tEe great sea,
such certificate s.lall nave the force and
effect of special charter The existence
OF every corporation which is not created
by special law shall begin upon the filing
Of The articles of organization r the
Office # the secretary of state. The sec
rotary OF state shall also cause Il record
of the certiflcate of incorporation TO be
E.ad,. and such certificate. or such rec
ord. or certified copy thereof, shall b.
ooncln i've evidence of the existence Of
such corporation.
issue any shares of stock until the par
value Of such shares shall have been
actually paid in iii cash. When tie whole
capital stock las been issued complete
res idc nee and post Office address Of each,
and the number OF shares held by each
shall be fled with the bank examiner
which list shall he vcrfed by the presi-
dent and treasurer of the corporation.
Upon receipt of such statement said ex-
aul;Ier shall cause an examine ton to bs
appears that the whole capital stock has
been paid in in cash. and that all re
quirementS OF law have been complied
cate authorizing such corporation to be-
gin the transaction Of business. II shall
Be %naS Sd for such SorPo1..ion nj, e
such q certificate has been granted.
Section Z. The written articles of as
ISOLATION mentioned i'm section one shall
not be regarded as sufficient unless they
posed amount of capital stock has been
subscribed for. And when filed with the
MED ly satisfactory evidence that the
sum Of fifty dollars has been paid to The
state treasurer. to be credited to an ac
count for expense OF organizing trust
cut for EXPENSES of the several depart
ments as the governor and executive
council shall find to have been actually
incurred.
Section 8. The minimum amount OF
paId-in capita, stock on which! a trust
company may bc authorized T. begin
dollars for q town or city Of not more
than five thousand inhabitants. fifty
thousand dollars. for from Ave thousand
to ter thousan nd inhabitants, seventy
Thousand dollars
sand to twenty thousand inhabitants, ono
hundred Thousand dollars for from twcn-
tants, and one hundred and fifty thou
sand dollars for town or city of more
than thirty thousand inhabitants. IT shall
be lawful for tn bank examiner in a..
such town or CITY for the purpose of de-
termining the sufnciency of the capital
Se to feTre snsh IT addition
sus as he may deem necessary; but no
charter once granted shall ever he
e HGa nor TSe Frr IN Ing
shares az stock shall be one hundred
dJllars each.
Section .. Every such company shon
forfeit its charter unless it shall actually,
c,mmence to do business a trust COM
pany within one gear from the date
Section 10 Any company organized I'M
der this act may increase its capital stock
from time to time to an amount not ex-
&C etliug in the aggregate. one million dol
lars. al any stockholders meeting at
which majority Of shares issued and
outstanding is represented. NOTICE Of the
intention 30 to dc having been given iii
the call therefor. A certified copy of every
such vote shall be flied with The bank
examiner within ten days after its pas
sage.
Section H. All the corporate mower. II
any such company shall be exercised BY
9 board OF not less than five directors.
two-tards of whom shall be residents Of
thds state. who's number and term of
office shall he determined. and who shall
be elected by 4 vote OF the stockholders
at the first meeting held ov tine incor-
ppratars and. at each annual meeting
thereafter The affairs and p1twers Of the
company may. al the option of the stock
holders. he entrusted tic m executives
board Of not less shan nve members. two
thirds of whom shall be residents OF this
state. to be. by vote Of the stockholders,
electrd from the full board OF directors
The directors of such company shall b,
sworn to the. proper discharge OF their
d,aieS. and they sha II hold Office until
others ere elected and qualified in their
stead. II a director dies. resigns. or b.
Gomez disqualified for anv cause. the re-
manning directors may elect a pcrson 10