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L. 1909, ch. 40

Consolidation of Library Corporations

§ 265

existing against them as such at or before such consolidation ; and no suit, action nor any proceedings then pending before any court or tribunal in which any corporation that may be so consolidated is a party, or in which any such stockholder is a party, shall be deemed to have abated or been discontinued by reason of any such consolidation, but the same may be prosecuted to final judgment, in the same manner as if the said corporations had not entered into the said agreement of consolidation, and the said new corporation may be substituted as a party in the place of any corporation so consolidated as aforesaid, and forming 'such new corporation, by order of the court in which sach action, suit or proceeding may be pending.

This section was derived from L. 1892, ch. 541, § 5.

§ 265. Powers of such corporation. The new corporation organized under this article shall be permitted to maintain and carry on any form of library and to promote any of the objects authorized by the charter of either or any of the corporations which have been consolidated.

This section was derived from L. 1892, ch. 541, § 6, as amended by L. 1895, ch. 209, § 5.

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88 270, 271

Power to Construct Bridges and Tunnels

L. 1909, cha 40

ARTICLE 19

AGRICULTURAL, FAIR AND OTHER CORPORATIONS AUTHORIZED

TO CONSTRUCT TUNNELS AND BRIDGES

Section 270. Certain corporations authorized to construct tun

nels under and bridges over highways. 271. Such corporations shall file maps and profiles. 272. Approval of maps and profiles by local authorities. 273. Application of this article.

$ 270. Certain corporations authorized to construct tunnels under and bridges over highways. Where any state, county or town. agricultural corporation or any fair association, or any corporation or association organized under a general or special statute and paying under any statute applicable thereto a percentage of at least five per centum per annum upon its gross receipts to the state comptroller, is the owner of any real property which is or shall be separated or intersected in whole or in part by a street, avenue or public highway, and it shall be desired by said corporation or association to connect said real property by a tunnel under or a bridge over said street, avenue or public highway so as to avoid crossing said street, avenue or public highway at the grade thereof, the said corporation or association may cause such connection to be made and the necessary work including any change of grade incidental thereto to be performed, upon compliance with the provisions of this article.

This section was derived from L. 1903, ch. 523, § 1.

$ 271. Such corporations shall file maps and profiles. The corporation or association desiring to make such connection shall file with the local authorities having control over said street, avenue or public highway a proper survey, map, plans, profiles and specifications showing in detail the nature and character of the work to be done, the change to be made, the nature and character of any tunnel or bridge to be constructed and any proposed change of grade of said intervening or intersecting street, avenue or public highway.

This section was derived from L. 1903, ch. 523, § 2.

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L. 1909, chi 40

Power to Construct Bridges and Tunnels

$$ 272, 273

§ 272. Approval of maps and profiles by local authorities. Said survey, map, plans, profiles and specifications when approved by the said local authorities having control over any such street, avenue or public highway and when duly filed in the office for the recording of deeds in the county where said property is situated, shall constitute an authorization to said corporation or association to construct said tunnel or bridge or make said change at its own expense in accordance with the said survey, map, plans, profiles and specifications; and the entire expense of regulating, grading, paving or otherwise improving said intervening or intersecting street, avenue or public highway, upon said changed grade thereof, in such manner and to such extent as shall be required by the said local authorities, shall be wholly borne by the said corporation or association.

This section was derived from L. 1903, ch. 523, $ 3.

§ 273. Application of this article. This article shall not apply to any railroad corporation and shall not be construed to authorize any change in the grade of any such street, avenue or public highway except as to such portion thereof as is bounded by or lies within the lines of the property owned wholly by said corporation or association.

This section was derived from L. 1903, ch. 523, § 4.

§ 280

Corporations for Breeding Horses

L. 1909, ch. 40

ARTICLE 20

CORPORATIONS FOR RAISING AND BREEDING AND IMPROVING THE

BREED OF HORSES

Section 280. Corporators.

281. Restriction upon commencement of business.
282. Right to hold race meetings and races.
283. Certificate of payment of stock.
284. Additional certificates by existing corporations.
285. State racing commission.
286. License for running races and steeplechases.
287. Revocation of licenses.
288. Trotting and fair associations, when entitled to

privileges.
289. Notices to be posted upon grounds.
290. Special policemen.
296. Penalty for unlawful racing and betting.
297. Increased or additional entrance fees.

Sections 291-295 and 298 were repealed by L. 1910, ch. 489.

§ 280. Corporators. Any number of persons, not less than five, may become a corporation for the purpose of raising and breeding and improving the breed of horses, with all the general powers of corporations created under the laws of this state, by making, signing, acknowledging and filing a certificate which shall contain:

1. The name of the proposed corporation.

2. The objects for which it is to be formed, including a statement as to whether it is proposed to exercise the particular powers conferred by section two hundred and eighty-two of this chapter, and specifying whether it is proposed to conduct trotting or running or steeplechase race meetings.

3. The amount and description of the capital stock.

4. The number of shares of which the capital stock shall consist, each of which shall not be less than five nor more than one hundred dollars.

5. The location of its principal business office. 6. Its duration, which shall not exceed fifty years. 7. The number of its directors, not less than five nor more

L. 1909, ch. 40

Corporations for Breeding Horses

$$ 281, 282

than thirteen, who shall each be a stockholder having at least five shares of stock.

8. The names and post-office addresses of the directors for the

first year.

9. The post-office addresses of the subscribers and a statement of the number of shares of stock which each agrees to take in the corporation.

No certificate of incorporation under this section wherein the right to conduct running or steeplechase race meetings is claimed, shall hereafter be filed without the approval of the state racing commission indorsed thereon or annexed thereto, stating that, in its opinion, the purposes of this article and the public interests will be promoted by such incorporation, and that such incorporation will be conducive to the interests of legitimate racing.

This section was derived from L. 1895, ch. 570, § 1, as amended by L. 1902, ch. 257, 8 1.

Qualifications of incorporators and filing and recording certificates of incorporation: see GENERAL CORPORATION LAW, 88 4, 5.

Frauds in organization of corporations : see PENAL LAW, $$ 660, 661.
Corporate names generally: see GENERAL CORPORATION LAW, $ 6.

Unlawful use of certain titles in connection with corporate name:
PENAL LAW, § 666.

Licensing of stallions and breeding of horses: see AGRICULTURAL LAW, 8 120 et seq.

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§ 281. Restriction upon commencement of business. No corporation organized under the provisions of this article shall engage in the prosecution or management of its business until the whole of its capital stock shall have been subscribed, nor until it shall have filed in the offices where its certificates of incorporation were filed, a further certificate stating that the whole of its capital stock has been in good faith subscribed, executed and acknowledged by its president or vice-president and treasurer or secretary, and verified by them to the effect that the statements contained in it are true.

This section was derived from L. 1895, ch. 570, § 2.

§ 282. Right to hold race meetings and races. Any corporation formed under the provisions of this article, if so claimed in its certificate of organization, and if it shall comply with all the provisions of this article, and any other corporation entitled to the benefits and privileges of this article as hereinafter provided, shall have the power and right to hold one or more trotting or

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