Valdez daily prospector., 1913-12-05
LAWS PASSED
 TERRITORIAL LEGISLATURE
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at his last known postoffice address, or g written notice requiring him to make payment within sixty days from the service of notice, place speci- fled therein, and stating that, in case of failure to do so, his stock and all previous payments thereon will be for feited for the use of the corporation. Such stock, if forfeited may be re- issued, or subscriptions therefor may be received, as in the case of stock not issued or subscribed for.
 Sec. S. The first meeting of every corporation shall be called within the Territory by any two of the stock holders, named in the articles of in corporation, upon not less than thirty days prior personal notice as pre- scribed in the following section, to each of the incorporators, or written waiver thereof signed by all. Pro- vided, however, that such meeting shall be held within one year after the filing of the articles of incorpora- tion, or the corporation shall be ipso facto dissolved
 Sec. 9. Stockholders meetings shall be held annually, at the princi- !>pal place of business of the corpora tion, and notice thereof must be de- livered personally, or by depositing in the postoffice, properly addressed, to each stockholder, at least thirty days before such meeting. At least thirty days before such meeting a complete list of the stockholders en- titled to vote shall be open to in spection at the place of such meet ing.
 Sec. 1O Each s-ockholder shall at every stockholders meeting be entit- led to one vote in person or by proxy for each share of the capital sock held by him; the stockholders shall have the right of cumulative vot- ing in the elections of officers or di- rectors.
 Sec. II. Shares of the capital stock of the corporation belonging legally or equitably to the corpora tion shall not be voted, either directly or indirectly.
 tai stock of corporation shall be personally liable to the creditors of the corporation to an amount equal to an the) amount unpaid on such stock
 Sec. 13. Except in case of insolv- ency or bankruptcy proceedings, MO action shall be brought against a stcckholder for any debt of the cor poration, until judgment has been re- covered against the corporation and an execution returned unsatisfieG in whole or in part.
 Sec. II. The business of every corporation organized under this act shall be managed by board of not less than three directors, each of whom shall own in his right at least one share of the capital stock, who shall be elected at the first stock holders meeting, and annually there after, and shall hold office until their successors are respectively chosen, :, and who shall. before entering upon the duties Of tEeir office. severally take and subscribe an oath to faith fully perform their duties as such di- rector. Whenever any vacancy shall happen among the directors by death, resignation or otherwise, except by re- moval and the election of successor, it shall be filled by appointment of the board of directors for the unex- pired term of vacancy.
 Sec 15. The directors shall appoint from their number a president, and shall appoint a secretary and d treas urer and may appoint other officers, agents and employees, who shall, re- spectively, have sucn powers and per form such duties as may be prescrib- ed ill the bylaws, and any of tl.> ! OA1SClo, dSSCAIo <tAA lAdy l. removed at the pleasure of the l. rectors.
 Sec. 16. If the bonded indebted ness of any incorporation organizeu under this act shall exceed the amount of it's paid-in and unimpaired capital stock, or if stock or bonds be issued for property at more than cash value, in the reasonable judgment of the di- rectors, or if any dividends or other distribution of the assets be made other than from het profits. or if a reduction of capital be made under the guise of loan to stockholders. or if any report or statement or pub lie notice shall not be made as re- | quired by law, or if made, snail be l false in any material representation,