stockholders may vote in person or by proxy in writing; and no person who is not a resident of Boyle or Garrard counties, and a stockholder, shall be eligible as president, director, or treasurer; and the president and directors shall cease to be such on his or their ceasing to be a stockholder. The annual election for a president and directors shall be annually held on the first Saturday in May, at such place as may be directed, at which time the presi Edent shall lay before the stockholders an expose of the assets of said company; also the record of their proceedings for the preceding year. The company shall have powC er to fix the days and places of their annual meetings and general elections, and pass all by-laws necessary for the regulation of their proceedings and interests. $7. That the president and directors first chosen as aforesaid, shall deliver a certificate, signed by the president and countersigned by the treasurer, to each stockholder, for the stock subscribed by him, which certificate or certificates shall be transferable on the books of said corporation, in person or by attorney; but no share shall be transferred until all the calls and arrearages thereon are paid. The original certificate of the share or shares transferred shall be surrendered, and a new certificate shall issue to the purchaser, who shall then be a member of said corporation, and entitled to all the privileges and benefits that the original owner was entitled to. 1 § 8. That the president may call meetings of the direc tors at such times and places as he may deem proper; a inajority of all the directors shall constitute a quorum to do business; they shall keep a record at each meeting of their proceedings in a book provided for that purpose. The board of directors may also allow the president and treasurer such compensation as they may deem reasonable. $9. That the president and directors shall have power to fill all vacancies that may occur in said board, and appoint all such superintendents, engineers, surveyors, artists, officers, &c. as they shall deem necessary to carry on the work; to fix their salaries and wages; to remove any of them at pleasure; to provide the time, manner and proportions in which the stockholders shall make payments on their respective shares; to carry on said work; to draw orders on the treasurer for all moneys necessary therefor, and to do all such matters and things as by this charter and the by-laws of this corporation they are authorized to do. 10. That the president shall give notice in a newspaper published in Danville or Lancaster, for at least twenty days, of the amount of the call on each share of the stock and of the time of payment; if any stockholder shall neglect or refuse to pay his proportion of the stock, for the space of thirty days after the time appointed for the payment thereof, every such stockholder shall, in addi 1854. to be forfeited. 1 tion to the installment called for, pay at the rate of six Unpaid stock per cent. per annum for delay of payment; and if he shall fail to pay such call and the penalty for the space of six months after the time of payment is required, he shall for feit such share or shares to the corporation, and the amount that shall have been paid thereon, and the president, by order of the directors, after having given ten days notice, may proceed to sell such forfeited shares: Provided, they will bring the amount due and unpaid upon said share or shares: And provided also, that no shareholder shall vote at any election, or be entitled to the rights of a member of said corporation, until the whole amount due and payable as aforesaid on the share or shares by him held, shall have been paid agreeably to the requisitions of the president road. and directors. § 11. That the said road shall be so levelled and graded Description of that when completed its graded elevation shall not ex ceed four degrees; the width of the artificial part of said road shall not be more than forty five, and the portion of it covered with metal, gravel, or macadamized stone shallnot exceed eighteen feet, and be fully nine inches in thickness or depth from side to side of that width. Further pow. § 12. That it shall be the duty of the president and direc tors to fix the route over which said road may run, and for ers of directors. that purpose to employ all necessary engineers, surveyors, artists, &c. at the cost of the company; and they are hereby authorized to enter in and upon the land and inclosures, public roads and highways in, through, and over which said intended road may be thought proper to pass, and to examine and survey the ground therefor, to examine for quarries, beds of stone, banks of gravel, and other material necessary for the completion and repairs of said road, and having due regard to economy, they shall locate said road as follows: beginning at the toll gate on the Stanford road near Danville; thence along the old road, by the most practicable route, to the town of Lan How and when be erected. caster. § is. That sections thirteen, fourteen, fifteen, sixteen, seventeen, eighteen, nineteen, twenty, twenty-three, twenty-four, twenty-five, twenty-six, twenty-seven, twentyeight, twenty-nine, thirty, thirty-one, thirty-two, thirtythree, thirty-four, and thirty-five of an act, entitled, an act to incorporate the Danville and Hustonville Turnpike Road Company, approved March, 1844, be and the same are hereby incorporated as part of this charter. §14. That so soon as five miles of said road shall be com pleted, the justices of the peace in the county in which toll gates may five miles, or the major part thereof lies, who are not interested in the stock of said company, shall be called on to examine the work, and if they shall certify that the work has been done in conformity with the provisions of this act, the certificate shall be recorded in the office of the county court of said county, and the president and directors may cause a toll gate to be erected across said road, and may collect the tolls and duties hereinafter granted to said company, from all persons traveling thereon with horses, cattle, carriages, &c. In case said disinterested justices cannot be found, the president and directors may give notice thereof to the county court of said county, in which case the court shall appoint three fit persons, whose I duty it shall be to inspect said road, or so much thereof as shall be completed, and if it shall be their opinion that said road or any five miles thereof continuously, is completed according to the provisions of this act, this report shall be recorded in said county court, and the judge thereof shall enter of record how many gates may be erected, whereupon it shall be lawful for said company to erect a gate for every five miles so completed, and at such places as to them may seem most eligible. § 15. That when said gate or gates shall be erected as aforesaid, it shall and may be lawful for the president and directors aforesaid to appoint as many toll-gatherers as they may deem requisite, and to collect and receive for tolls not exceeding the rates allowed by the general laws of this commonwealth for other like roads. The president and directors shall cause printed lists of the rates of toll which they may lawfully demand to be affixed at each toll gate on the road. Approved February 24, 1854. 1854. Rates of toll. CHAPTER 262. Corporators corporate powers. AN ACT to incorporate Olivet Chapter, at Lafayette, in Christian county. Trustees § 2. That the present officers of said chapter, are hereby appointed trustees of the same, who shall hold their pointed offices until the next annual election for the same, and term of office. 1854. LAWS OF KENTUCKY, until their successors are duly elected and qualified; and thereafter the officers annually elected shall constitute said board of trustees; and service of process upon any such trustees shall be held sufficient notice upon said corpora tion. §3. That all real and personal estate now belonging to Property vested. said chapter shall as fully and completely vest in the trus tees of the same as if acquired after the passage of this act. And the legislature hereby reserves the right to repeal or modify this act at pleasure. Approved February 24, 1854. Corporate name and powers. Stock may be taken to erect building. CHAPTER 264. AN ACT to incorporate Bourbon Lodge I. O. O. F., No. 23, §1. Be it enacted by the General Assembly of the Commonwealth of Kentucky, That Thomas Mitchell, George W. Williams, Ferdinand E. Peck, and William W. Mitchell, officers of Bourbon Lodge No. 23, Independent Order of Odd Fellows, and their successors in office, of the town of Paris, county of Bourbon, be and they are hereby created a body politic and corporate, by the name and style of Bourbon Lodge Independent Order of Odd Fellows, No. 23, and by that name are hereby vested with power and authority to acquire, hold, use, and enjoy real and personal estate to the amount of twenty thousand dollars, and to sell, convey or otherwise dispose of the same, under such rules, regulations, and by-laws as may be by them adopted, not contrary to the constitution and laws of this state or of the United States; and said corporation, by its name aforesaid, shall be competent to contract and be contracted with, to sue and be sued, plead and be impleaded, answer and be answered, defend and be defended in all courts and places; and may have and use a common seal, and alter and change the same at pleasure. § 2. That said corporators may, in the town of Paris, on such days as they shall appoint, open and keep open books for the subscription of stock, in shares of twentyfive dollars each, until stock to the amount of not less than three thousand nor more than ten thousand dollars shall be subscribed, which stock, when subscribed and paid in, shall constitute a fund in their hands, to be appropriated by them in the purchase of such real estate, and in the erection of such buildings as, in accordance with such rules and by-laws as their lodge shall adopt, they may deem necessary. §3. The general assembly reserves the right to alter, amend or annul this act at pleasure. §4. This act shall take effect from its passage. Approved February 24, 1854, CHAPTER 265. AN ACT to amend the charter of the Louisville and Nashville Railroad Company. 1854. Certain lands made subject to Mode of procedure. §1. Be it enacted by the General Assembly of the Commonwealth of Kentucky, That all the lands in counties which railroad tax. have taken stock in the Louisville and Nashville Railroad Company held or owned by persons who are non-residents of such counties, shall be subject to the same taxation for the purpose of paying off such subscription of stock, or for the purpose of paying interest on any county bonds issued in discharge of such subscription, as the lands of residents of such counties are now subject to for a like purpose. That the assessors are directed to report all such lands, their quality, location, and value, who are the owners and where they reside, and may obtain information thereof from the auditor of public accounts, and such other sources as he may be able. The sheriff shall levy and collect the same taxes of such lands as from lands held by the residents of said counties; and in order to do so, shall address each one a letter, to his residence or post office, of the amount to be paid by the first day of October. He shall publish a list of the lands, their location, quantity, value, owners' names and residences, and the amount of taxation to be collected, in the newspaper of the public printer, for ten weekly insertions previously to the March term of the county court for such county, and shall advertise in such publication that if the taxes are not paid on or before the said term of such county court, so much of the land as may be necessary to pay said taxes will be sold on the said county court day, at the court house door of the county in which the land lies, for cash in hand. The owner shall have five years in which to redeem the land so sold, by paying the amount for which it was so sold and ten per centum interest per year to the purchaser; and if it is not so redeemed then the sheriff shall make a deed to the purchaser conveying all the interest of the owner in whose name the land was sold. If the owner is a married woman, infant, lunatic or idiot, he or she or the heirs shall have three years to redeem after the disability is removed or ceases. City of Louleville may vote §2. In all elections of said Louisville and Nashville Railroad Company, the general council of the city of Lou- by proxy. isville may appoint some person, in the absence of the mayor, to cast the vote of the city, and the commissioners of the sinking fund of each county may authorize one of their number to cast the vote of the county of which they are commissioners; and such votes shall be received in such elections. |