Source: http://mdh.contentdm.oclc.org/cdm/ref/collection/molaws/id/45086/
Timestamp: 2019-08-20 13:05:02
Document Index: 799817974

Matched Legal Cases: ['§ 7', '§ 8', '§ 10', '§ 7', '§ 8', '§ 9', '§ 10', '§ 11']

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made,; had in and to the same, and shall have all such rights of. action and remedies in law or equity for the.recovery of the same, that the said person or persons had.^ The said company may also cause themselves to be insured against,
all maratime and other risks, aud upon the interest they may have in any vessel, goods, or merchandize in virtue of any loans they may have made on bottomry or respondentia, or in virtue of their guarantee of any promissory notes,
bonds, bills of exchange or other moneyed obligations; against all losses they
may incur by reason of any insurance made by them on any life or lives, or
against losses by fire, the perils of the sea or inland navigation, and transportation.
§ 7. The stock, property and affairs of the company or corporation aforesaid shall be managed and conducted by nine directors, who shall be stockholders of said.company, residing within this State, and after the first election they
shall be elected by the stockholders annually on the first Monday in January
manner and no longer; such election shall be by ballot under the inspection of
three stockholders, (holding no office in said company) to be previously appointed by the board of directors. Notice of every election of directors, and
all other general meetings of the stockholders, shall be published in one or
more newspapers, at least twenty days previous thereto, and at every such
meeting or election, each share shall entitle the holder to one vote. Absent
stockholders may vote by proxy, such proxy being made in writing to a stockholder present at such meeting. In case it shall happen that an election of directors shall not be made on any day when it ought to have been made pursuant to this act, the said corporation shall not for that cause be dissolved, but it
shall be lawful on any other day, to hold an election of directors in such manner as the by-laws and ordinances of the said company may direct.       ,
§ 8. , A majority of the directors of said company shall constitute a board
funds and business of: said company; to insure against all risks authorized by this
for Which the company may become liable; to arbitrate or compromise all doubtful claims againstfsaid company for loss or damage; to declare and make dividends semiannually of so much oi the clear profits arising from the business of
the company, as shall appear to them advisable, and cause the same to be paid
The board of directors may however confide to the president, or any two of the
directors, the power of insuring risks, fixing and receiving premiums and guarantees, adjusting and paying losses to such amounts as they may think prudent;
and the power generally to do and perform all acts necessary and convenient for
the management of the affairs of said corporation, and to carry into effect the
powers and purposes of this act.
made by said company, shall be subscribed by the president or president pro
tempore, and attested by the secretary.
§ 10. It shall bo the duty of the secretary, at every annual election or other
general meeting of the stockholders, today before them a correct and particular statement of the condition, and affairs of the company.
Identifier LAWS_9th_1836-1838_0554.tif
Transcript MISSOURI. 219 made,; had in and to the same, and shall have all such rights of. action and remedies in law or equity for the.recovery of the same, that the said person or persons had.^ The said company may also cause themselves to be insured against, all maratime and other risks, aud upon the interest they may have in any vessel, goods, or merchandize in virtue of any loans they may have made on bottomry or respondentia, or in virtue of their guarantee of any promissory notes, bonds, bills of exchange or other moneyed obligations; against all losses they may incur by reason of any insurance made by them on any life or lives, or against losses by fire, the perils of the sea or inland navigation, and transportation. § 7. The stock, property and affairs of the company or corporation aforesaid shall be managed and conducted by nine directors, who shall be stockholders of said.company, residing within this State, and after the first election they shall be elected by the stockholders annually on the first Monday in January at the office of the company, unless the directors appoint some other place, and they shall hold their office one year, or until their successors are chosen in like manner and no longer; such election shall be by ballot under the inspection of three stockholders, (holding no office in said company) to be previously appointed by the board of directors. Notice of every election of directors, and all other general meetings of the stockholders, shall be published in one or more newspapers, at least twenty days previous thereto, and at every such meeting or election, each share shall entitle the holder to one vote. Absent stockholders may vote by proxy, such proxy being made in writing to a stockholder present at such meeting. In case it shall happen that an election of directors shall not be made on any day when it ought to have been made pursuant to this act, the said corporation shall not for that cause be dissolved, but it shall be lawful on any other day, to hold an election of directors in such manner as the by-laws and ordinances of the said company may direct. , § 8. , A majority of the directors of said company shall constitute a board competent to transact the business of the corporation, they shall have power and authority to make all necessary by-laws, rules and regulations for their own government, and for the management and disposition of the stock, property, funds and business of: said company; to insure against all risks authorized by this act; to receive for the amount of premium and guarantees such notes endorsed and payable in such manner, and such times as they may deem proper in conformity to the by-laws made on the subject; to settle, adjust and pay all losses for Which the company may become liable; to arbitrate or compromise all doubtful claims againstfsaid company for loss or damage; to declare and make dividends semiannually of so much oi the clear profits arising from the business of the company, as shall appear to them advisable, and cause the same to be paid to the stockholders in proportion to the amount paid in by each respectively. The board of directors may however confide to the president, or any two of the directors, the power of insuring risks, fixing and receiving premiums and guarantees, adjusting and paying losses to such amounts as they may think prudent; and the power generally to do and perform all acts necessary and convenient for the management of the affairs of said corporation, and to carry into effect the powers and purposes of this act. § 9. All policies or contracts of insurance and instruments of guarantee made by said company, shall be subscribed by the president or president pro tempore, and attested by the secretary. § 10. It shall bo the duty of the secretary, at every annual election or other general meeting of the stockholders, today before them a correct and particular statement of the condition, and affairs of the company. § 11. The board of directors shall convene according to their by-laws, or whenever required by the president or any two of the directors.