or directors were elected, then it shall be lawful for a A. D. 1811. majority of the remaining directors, by ballot, to elect another director or other directors, as the case may be, in the place and stead of the director or directors so dying, resigning or removing, which said director or directors so elected, shall be director or directors of the said company for the residue of the term for which the director or directors so dying, resigning, or removing were to serve. If 2 person's have an equal num directors to VIII. And be it further enacted, That if at any election of directors it should happen that any two or more ber of votes persons should have an equal number of votes, then and elect one. in such case the directors for the time being, or a majority of them, shall, by ballot and by plurality of votes, determine which of the said persons so having an equal number of votes shall be the director or directors, so as to complete the whole number. feited for calls. IX. And be it further enacted, That the said direc- Shares fortors may call in the subscriptions to the capital stock, non-payby instalments, in such proportions and at such times ment of and places as they may think proper, under the penalty of a forfeiture of all previous instalments, rights and interests whatever in the said company, giving public notice thereof at least thirty days in the the newspapers aforesaid. Shares con sidered per erty, & how X. And be it further enacted, That the shares in the sonal propstock of said company shall be deemed and considered transferable to be personal property, and no transfer of shares or stock shall be valid or effectual until such transfer shall be entered on a book or books, to be kept for that purpose by the directors, and unless the person making the same shall have previously discharged all debts due by him or her to the said corporation. Inwhat case XI. And be it further enacted, That it on any anni- corporation versary day of election for directors, the stockholders dissolved. owning three fourths of the whole amount of the stock subscribed shall vote to discontinue the business of said corporation, it shall be the duty of the said directors as soon as may be to dispose of the property of said corporation, and to collect all the debts due to the said corporation, and after deducting therefrom and paying all the debts which the said corporation may owe, they A. D. 1811. shall make an equal dividend of the remainder of the property of the said corporation, according to the number of shares each stockholder may own at the time, and shall cause the same to be paid over to each of the stockholders, whereupon the said company shall be dis To what ex-solved. tent stock. the dissolu company. holders re- XII. And be it further enacted, That for all debts sponsible on which shall be due and owing by the said company, the tion of the persons composing the said corporation at the time of its dissolution shall be responsible in their individual and private capacity to the extent of their respective shares, and no further, on any suit or action to be brought or prosecuted after the dissolution of the said Application Corporation: And provided also, That nothing conof the funds tained in this act shall be construed to authorise or em power the said corporation to use their, or any part of their funds in any banking transactions, or in the purchase of the stock of any bank in the United States, or any other public stock, nor for any purpose whatsoever than what is prescribed by this act. restricted. This a public act. Commis XIII. And be it further enacted, That this act shall be to all intents and purposes considered as a public act, and shall be construed and considered in all courts and places benignly and favorably for every beneficial purpose therein mentioned or intended. CHAP. CLXIII. An ACT for the appointment of Commissioners to lay out a road from the dwelling house of Lewis Birdsall, in the town of Junius, in the county of Seneca, to the house of Thaddeus Oaks, in the town of Phelps, in the county of Ontario. I. Passed April 5th, 1811. sioners ap- Nathan Whitney, Philetus, Swift and Daniel Sayre be, pointed to and they are hereby appointed commissioners to explore lay out the and lay out a road or public highway of at least four rods explore and road. wide, beginning at or near the dwelling house of Lewis Birdsall, in the town of Junius, in the county of Seneca, and from thence on the most feasible place, and as direct a route as may be consistent with the public good, to the dwelling house of Thaddeus Oaks, in the town A. D. 1811. of Phelps, in the county of Ontario. office. II. And be it further enacted, That when the said be filed in A map to road shall have been so laid out, it shall be the duty of town clerks the said commissioners to file a map and precise description thereof in each of the offices of the town clerks of the said towns of Junius and Phelps, with their names subscribed thereto, and that it shall be lawful from thenceforth for the inhabitants of the respective towns to open and improve the said road; and each of the said commissioners shall, for their services aforesaid, be allowed at the rate of two dollars per day for each and every day they shall be necessarily employed in laying out said road, and it shall be the duty of the supervisors of each of said counties of Seneca and Ontario to audit the accounts of the said expences in proportion to the time spent in said service in each of the said towns, and cause the same to be assessed and collected as part of the contingent expences of the said towns of Junius and Phelps. proved to III. And be it further enacted, That if any part of the said road shall run through inclosed or improved Lands imlands, the damages shall be appraised and paid in the be paid for. same manner as is directed in and by the fifteenth section of the act entitled "an act to regulate highways,' and the said road shall be opened and kept in repait agreeable to the provisions of the act aforesaid. B CHAP. CLXIV. An ACT for the relief of the Mohawk Turnpike Com- A. D. 1811. CHAP. CLXV. An ACT to amend an act entitled "an act to incorpor ate the Hadley and Luzerne turnpike road company," passed April the 6th, 1810. Passed April 8, 1811. 'N compliance with the petition of Benjamin Cowles, Elisha Wilson and Daniel Boardman, commissioners appointed in and by the act to incorporate the Hadley and Luzerne turnpike company, I. Be it enacted by the people of the state of NewYork, represented in Senate and Assembly, That it shall and may be lawful for the president, directors and stockholders of the said company to contract and reduce the arch of the said turnpike road for which they are incorporated, to the width of twenty feet; and the persons to be appointed for the inspection of the said road shall be and are hereby authorised and required to pass the said road, when finished, at the said reduced width. II. And be it further enacted, That it shall not be necessary for the stockholders to elect more than five directors, one of whom shall be chosen the president as in the act hereby amended is directed; and they, or a majority of them, shall be a quorum, and qualified to do and transact all such business as shall be necessary and proper for the said company. road. ᏴᎬ CHAP. CLXVI. An ACT to alter the time of holding the election of the house in which the court of common pleas of the A. D. 1811. county of Sullivan may have been last held previous to such election, and that the president and directors of said company now in office shall continue to hold their offices until the next day after the first Tuesday in January next, any former law to the contrary in any wise notwithstanding: Provided, That if such election shall not be held on the next day after the first Tuesday of January in any year, it shall be lawful to make such election at any other day, notice being given in like manner as in this act mentioned, but the directors in of fice shall in that case be incapacitated after such day whereon such election ought to have been held, from performing any act as directors other than such as may be necessary to give such election effect. W CHAP. CLXVII. An ACT to amend the act incorporating the New- Preamble. I. Be it enacted by the people of the state of NewYork, represented in Senate and Assembly, That it shall be lawful for the said president, directors and com- Road may pany to extend the said road from the western extreme thereof until it intersects the Orange and Ulster branch turnpike road at the most suitable and convenient place. be extended burgh and II. And be it further enacted, That it shall be lawful Extension for the said president, directors and company to cause to be a part to be laid out, made and constructed, a turnpike road of Newfrom the western extreme of the said Newburgh and Sullivan Sullivan turnpike road, and the same shall be annexed turnpike to and become part of the said Newburgh and Sullivan road |