The Roswell daily record. [volume] (Roswell, N.M.) 1903-current, 1907-03-12
BE 1T ENACTED BY THE LEGIS-
LATIvE ASSEMBLY OF THE
TEPRTTnDv or Nryu MEyICn.

BE 1T ENACTED BY THE LEGIS-
LATIvE ASSEMBLY OF THE
TERRITORY OF NEW MEXICO:
Section 1. Corporations already
formed, Or which may hereafter be
formed, for mining purposes, where
the amount of capital stock of such
corporations consists of the aggregate
valuation of the whole of any mine,
mines, mining claim or mining claims
or n right of interest therein or
thereunto, for the working or devel-
Opment of which said corporation
shall be Or have been formed, no ac-
tual subscription to the capitol stock
of such corporation shall be neces-
sary; but the owner or owners in
such mine, mines, mining claim or
mining claims or interest therein or
thereto shall be deemed to nave sub
scribed such an to the CAPT
toll stock of Sucn corporation as ag-
reed upon at the time of sale of such
mine, mines, mining claim or mining
claims or interest therein or thereto:
and such stock issued or to be issued
shall be considered as fully paid up
and the valuation placed on such mine
mines. mining claim or mining claims
or any interest therein or thereto at
the time of the sale to the corporation
or proposed corporation shall not
thereafter be questioned SC as to af-
feet the stock issued upon such yalu-
alton.
Sec. 2. In Ease the total authorized
capital stock of any corporation to
be formed for mining urpos or any
part thereof is to be bought and paid
for by the sale of any mine, mines
mining claim or mining claims, or
any interest therein or thereto. it
shall be Unnecessary to state in the
certificate of incorporation the
amount of the capital stock with
which such incorporation will COM
me1 business Or the number of
shares subscribed for by each incor-
porator or anything with reference
to h subscription of the capital
stock; or the amount of capital stock
with which the company will com
mence business; but the certificate
of incorporation shall contain a con
else statement showing that the to-
tai authorized capital stool of the
corporation Or a part thereof is to be
bought and paid for by the sale of
mine, mines, mining claim or mining
claims, Oh right Or rights, or interest
or interests therein or thereto nam
ing the mine, mines, mining claim or
mining claims and district and county
where uate
sec. d. NOCnlnS II InlS act shall
prevent any person or persons, com
pany Or companies, corporation Or
corporations from subscribing to the
capital stock of a mining corporation
in any manner or to follow the form
of certificate Of incorpof as now
prescribed by law.
Sec. 4. No stockholders liability
shall attach to any stock issued by
and corporation already formed or
which may be hereafter formed for
mining purposes, except that any
stakeholder shall be liable to the cor
poratiol for amount due on his sub
scriptiOn for stock.
Sec. 5. Any corporation hereafter
formed for mining purposes under the
laws of the Territory of New Mexico
may hold the annual and all other
other stockholders meetings outside
of this Territory at sucn place az it
may designate in it's certificate of in
corporation.
Sec. 6. All acts and parts of acts
in conflict herewith are hereby re-
pealed; and this act is to be in force
and effect from and after its passage.