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books of the company in such manner as the by-laws may
For all four horse, mule or ox carriages of every kind, twelve cents. For all cattle or horses, two cents. For all hogs, calves, and sheep, one cent. And all other articles and things notherein enumerated, to be in equitable proportion; provided always, that said directors Proviso. have power to reduce said rates. 8. And be it enacted, That it shall be lawful for any toll- Fo gatherer having charge of said bridge, to stop any person ou" on foot, every person, horse, or mule, with or without wagons, carts, sleighs, or sleds, all pleasure wagons, and all cattle, horses, hogs, calves, and sheep, from passing over said bridge until the toll as above specified, shall have been paid. 9. And be it enacled, That if any person or persons having or njuring the command of any vessel shall do any damage to said works. bridge or draw, or keep it up more than fifteen minutes, when the same is not absolutely necessary for the passage of any masted vessel or boat, shall forfeit and pay the sum of twenty-five dollars, and also be liable for all damage that may be done to said bridge or draw, to be recovered in an action of debt, before any court having competent jurisdiction, with costs of suit. 10. And be it enacted, That the said corporation shall pos. or sess the general powers, and be subject to the restrictions ties. and liabilities, contained in the act entitled “An act concerning corporations,” approved the fourteenth day of February, eighteen hundred and forty-six, and the acts supplementary thereto and amendatory thereof, so far as the same are applicable. 11. And be it enacted, That the said company may con- company struct roads on the salt meadows on either side of said tood. creek, from the said bridge to the upland, and put and keep the said roads in good condition and repair, in order to maintain a good and safe way for the passage of public travel. 12. And be it enacted, That this act shall go into effect immediately.
Approved February 18, 1858.
Names of corporators.
What property may be insured.
* AN ACT to incorporate the Monmouth County Mutual Fire Insurance Company.
1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That Joseph Combs, Horatio Ely, George Taylor, Daniel H. Ellis, Henry C. Patterson, Joseph H. Rossell, William W. Ward, John R. Haley, William D. Davis, Austin H. Patterson, James Cooper, Charles Butcher, Charles H. Conover, John Barriclow, William P. Forman, James M. Smith, Elisha Laird, John N. Conover, Jacob Herbert and Peter S. Conover, and others, their associates, successors, and assigns, shall be and hereby are ordained, constituted, and declared to be a body corporate and politic, in fact and in law, by the name of “The Monmouth County Mutual Fire Insurance Company,” the office thereof to be located in the village of Freehold; and by that name
they and their successors shall and may have succession
during the continuance of this act, and shall be persons in
3. And be it enacted, That the property and concerns of the corporation shall be managed and conducted by thirteen directors, all of whom shall be citizens of this state, to be chosen by ballot, by and from among the members, to hold their office for one year and until others are chosen to fill their places; and the election for directors shall be held on the third Monday of January in every year, between the hours of ten in the forenoon and three in the afternoon, in Freehold aforesaid, at the office of the cqmpany, or at such other place therein as the majority of the directors for the time being shall appoint; of which election the secretary shall give public notice in the newspapers printed in the village of Freehold, at least two weeks immediately preceding such election; and if any of the said directors shall die, or refuse to serve, or neglect to act in said office for the space of six months successively, then and in every such case the remaining directors shall have power to fill such vacancy or vacancies until the time of the next annual election; and in case it shall happen that an election of directors should not be held on the day when, pursuant to this act, it ought to have been, the said corporation for that cause shall not be deemed to be dissolved, but it shall and may be lawful, on any other day, to hold an election for directors; and until an election for directors shall be held, according to the provisions of this section, the following persons shall be directors, namely: Joseph Combs, Horatio Ely, Joseph H. Rossell, John R. Haley, William D. Davis, James Cooper, Charles Butcher, Charles H. Conover, William P. Forman, James M. Smith, John N. Conover, Jacob Herbert, and Peter S. Conover. 4. And be it enacted, That the directors hereinbefore mentioned shall, as soon as convenient after the passing of this act, and the directors annually chosen agreeably to the provisions of this act, shall, as soon as convenient after their election, proceed to choose out of their body one person to be a president, who shall be an inhabitant of Freehold aforesaid, and shall preside until the next annual election thereafter; and in case of the death, resignation, or inability to
Election of directors.
Election of president.
Duties and powers of lirectors.
officers of other companies not to be officers of this.
Persons insured to deposit promissory note.
serve of the president, such vacancy may be filled for the remainder of the term by such person as the board of directors may appoint; and in case of the absence of the president, the board of directors shall have power to appoint a president pro tempore, who shall exercise all such powers and duties as the by-laws of said company may provide; provided, that the president of the company shall hold his office at the pleasure of the board of directors, and be subject to removal by them. 5. And be it enacted, That the board of directors for the time being, or a majority of them, shall have power to make or prescribe such by-laws, rules, and regulations as to them shall appear needful and proper, touching the management and disposition of the stock, property, estate, and effects of the said corporation, and touching all such other matters as appertain to the business, ends, and purposes which the corporation by this act is entitled to; and also shall have power to appoint a secretary, surveyor or surveyors, and such additional officers, clerks, and servants, for carrying on the business of the said corporation, with such allowances as to them shall seem meet; provided, that such bylaws, rules, and regulations be not repugnant to the constitution and laws of the United States and of this state. 6. And be it enacted, That it shall not be lawful for the president or a director of any other insurance company, engaged in insuring houses, stores, and personal property against loss or damage by fire, to be president or director of the company incorporated by this act. 7. And be it enacted, That every person who shall become a member of said company, by effecting insurance therein, shall, before he receives his policy, deposit his approved promissory note, guaranteed by some responsible person or persons, for such a sum of money as shall be determined by the directors to be the premium for said insurance, twenty per centum of which said note shall be immediately paid, and the remainder of said deposit note shall be payable in part or the whole, at any time when the directors shall deem the same requisite for the payment of loss or