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cart, waggon, sleigh or sled drawn by one horse or mule, five cents ; for every sleigh or sled drawn by two horses, mules or oxen, six cents, and for every additional horse mule or ox, three cents : Provided always nevertheless, that the president and directors of the said company may commute with any person or persons for the privilege of using the said road by the year or for any less time.
VII. And be it further enacted, That if any person shall Penalty for pass either of the said gates on the said road without paying passing Sales
without pay. toll upon pretence of being exempted therefrom under the act ing toll." before referred to, every person so offending, shall, for every such offence, forfeit and pay to the aforesaid company ten dol. lars, to be recovered in an action of debt by the treasurer of the said company in his own name, in any court having cognizance thereof; and if any person claiming an abatement of toll, shall give false information to the collector of tolls of the distance he or she has travelled on the said road, every person so offending shall forfeit for each offence to the said company five dollars, to be recovered in an action of debt by the treasurer in his own name in any court having cognizance thereof.
VIII. And be it further enacted, That the company hereby Privileges of incorporated shall have and enjoy all the rights, privileges, the company. powers and immunities which are given and granted in and by the before recited act, and shall be subject to all the condi. tions, provisions, restrictions and regulations contained in the same, saving and excepting where the same are contrary to the provisions of this act..
Passed March 26, 1813.
of such notice having been published previous to leave being given to bring in any bill to comply with any such application.
II. And be it further enacted, That the like notice shall be published of any application to divide any county within this state, or to erect any new county out of parts of counties.
CHAP. LXXIX. on ACT for the Relief of Judgment and Mortgage Debtors to
the People of this State.
Passed March 26, 1813. I. BE it enacted by the people of the state of New York, re. presented in Senate and Assembly, That it shall be lawful for the attorney general, whenever any judgment in favor of the people of this state for any debt or damages, shall be satisfied or in any manner settled, pursuant to legislative provisions, to acknowledge satisfaction of record of such judgment.
II. And be it further enacted; That it shall be lawful for the comptroller whenever any mortgage given to the people of this state shall be satisfied or in any manner settled pursuant to legislative provisions, to execute a certificate to the murtgagor of such satisfaction or settlement, in order that the mortgage inay be discharged of record; and that it shall be the duty of the secretary of this state and the clerk of the county in which any such mortgage shall be registered, to enter such certificate in like manner as is directed in cases of private mortgages.
III. And be it further enacted, That the entry of such certificate in the manner aforesaid, shall operate as a complete discharge of the mortgage therein mentioned ; and that the person at whose request the entry shall be made, shall pay to the said secretary or clerk the sum of thirty-seven and an half cents.
Passed March 26, 1813. wompany in. I. BE it enacted by the people of the state of New York, rep. corporated. resented in Senate and Assembly, That all persons by virtue of
this act becoming stock holders of said bank, be and they are hereby ordained, constituted and declared to be from time to time, until the last Tuesday of May, which will be in the year
one thousand eight hundred and thirty-three, a body politic and Their style,
corporate, in fact and ia name, by the name of “ l'he President, Directors and Company of the Caiskill Bank," and by that name, they and their successors until the said last Tuesday of May, in the said year one thousand eight hundred and thirty-three, shall and may have continual succession, and shall be persons in law capable of suing and being sued, pleading and being impleaded, answering and being answered unto, defending and being defended in all courts and places whatsoever, and that they and their successors may have a common seal, and may change and alter the same at their pleasure; and also that they and their successors by the name of the president, directors and
company of the Catskill bank, shall be in law capable of purchasing, holding and conveying any estate real and personal for the use of the said corporation.
II. And be it further enacted, 'That a share in the said bank stock. shall be fifty dollars, and the number of shares shall not exceed eight thousand; and that Ira Day, Thomas B. Cook, John C. Ilogeboom, Ralph Barker and Isaac Dubois, are hereby appointed commissioners, any three of whom to constitute a board for the purpose of opening books on the first Monday of May next, at some proper place in the village of Catskill, and that the same be kept open for three days successively, in which the president, directors and company of the bank of Hudson, or any person or persons authorised to subscribe and hold two thousand shares in the said Catskill bank, and be permitted to pay fifty dollars on each share, or any less sum, at such time or times and in such proportion as they may deem proper; and all other persons inclining to associate for the purpose of establishing a bank in the said village, shall subscribe such number of shares as they respectively wish, depositing at the same time with the said commissioners the sum of two and an half per cent on the amount of each share by them so subscribed, and if the number of shares so subscribed, exclusive of those subscribed by or for the president, directors and company of the bank of Hudson, shall exceed six thousand, the said commis. sioners shall apportion the excess among the several subscribers, as they shall judge discrete and proper, and the said commissioners shall be the inspectors of the first election of directors, and shall certify under their hands the names of those duly elected, and deliver over to them or to their order the subscription book together with the deposit money on the stock so subscribed. III. And be it further enacted, That the stock, property, al- Affairs how
to be manafairs and concerns of the said corporation shall be managed and goed conducted by thirteen directors, who shall hold their offices for one year, which directors shall be stockholders, nine of whom shall reside within the village of Catskill; and that the first elec- Election how
to be made. tion of directors shall be held in the village of Catskill, on the last Tuesday of May next, at the house now occupied by Terrence Donnelly, or at such other place as the majority of the stockholders there assembled shall appoint; and each succeeding election of directors shall be held thereafter on the last Tuesday of May in each year, at such time and place in the village of Catskill as a majority of the directors for the time being (who shall upon all occasions constitute a board for the transacting of business) shall appoint, notice whereof shall be given by the said directors in one or more newspaper printed in the village of Catskill at least thirty days previous to the day of holding such election, and the said election shall be held and made by such of the stockholders of said bank as shall attend for that purpose, either in person or by proxy, which proxies sball always be stockholders, and all elections shall be by ballot, each share entitling its owner to a vote, and the thirteen persons who shall have the greatest number of votes, eligible as aforesaid, shall be directors; and if it should happen at any election that two or more persons have an equal number of
Ihares are subscribed.
votes, then the said directors in office at the time of such election, or a majority of them, shall proceed to ballot and by plu. rality of votes determine which of said persons so having an equal number of votes shall be the director or directors, so as to
complete the whole number of thirteen; and the said directors President how to be chosen at such election, as soon as may be thereafter, shall prochosen.
ceed in like manner to elect by ballot one of their number to be their president, and whenever any vacancy shall happen among the directors by death, resignation or otherways, such vacancy shall be filled for the remainder of the year in which it shall so happen, by such person or persons as the rest of the directors, or a majority of them, shall appoint.
IV. And be it further enacted, That in case it should any time happen that an election of directors should not take place on any day when pursuant to this act it ought to have been done, the said corporation shall not for that cause be dissolved, but that it shall and may be lawful on any other day to hold and make an election of directors in such manner as shall have been
regulated by the laws and ordinances of the said corporation. Books may be V. And be it further enacted, That in case the said number kept open on of eight thousand shares shall not be subscribed on the books
directed by this act to be opened by the commissioners afore. said, subscriptions shall be kept open under the direction of the president and directors of said bank, at such times and places as they shall think proper, until the said number of shares be
VI. And be it further enacted, That the directors for the
time being, or a major part of them, shall have power to make by-laws.
and 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, the duties and conduct of the officers, clerks and servants employed therein, the election of directors, and of all such other matters as appertain to the business of a bank, and shall have power to appoint so many officers, clerks and servants for carrying on the said business, and with such salaries and allowances as to them shall seem meet : Provided, That such by-laws, rules and regulations be not repugnant to the constitution and laws of the United States nor of this state; and provided no by-law shall be made prohibiting the directors
from discounting notes as low as twenty-five dollars. Bank to be VII. And be it further enacted, That the said bank shall be kept at Cats
Itse established and kept, and the business thereof at all times after
the organization of the same, shall be transacted at such place within the said village of Catskill as the president and directors
may deem proper. Total debt. VIII. And be it further enacted, That the total amount of not to exceed
ad debts which the said corporation shall at any time owe, wheththree times the amount er by bond, bill, note or other contract, over and above the spe. of capital.
cie then actually deposited in the said bank, shall not exceed three times the amount of the capital stock subscribed and actually paid into said bank, and in case of excess the directors under whose administration it shall happen, shall be liable for the same, in their separate and private capacities, but this shall not be construed to exempt the said corporation, or any estate
real or personal which thcy may hold as a body corporate, from being also liable for and chargeable with such excess ; but such of the directors who have been absent when the said excess was contracted, or who may have dissented from the resolution or act whereby the same was so contracted, shall not be so liable.
IX. And be it further enacted, That the lands, tenements The corpora. and hereditaments which it shall be lawful for the said corpora- hold lands
tion shall not tion to hold, shall be only such as shall be requisite for its im- unless neces.
sary for their mediate accommodation in relation to the convenient transac- accommodation of its business, or such as shall have been bona fide mort. tion. gaged to it by way of security, or conveyed to it in satisfaction of debts previously contracted in the course of its dealings, or purchased at sales upon judgments which shall have been obtained upon such debts: And further, the said corporation shall not directly or indirectly deal or trade in buying or selling any goods, wares, merchandises or commodities whatsoever, or in buying or selling any stock created under any act of the United States or any particular state, unless in selling the same when truly pledged by way of security for debts due to the said corporation.
X. And be it further enacted, That the bills obligatory and Bills affigna. of credit, under the seal of the said corporation which shall be . made to any person or persons, shall be assignable by endorsement thereupon under the hand or hands of such person or persons, his, her or their assignee or assignees, and so as absolutely to transfer and vest the property thereof in each or every assignee or assignees respectively; and to enable such assignee or assignoes to bring or maintain an action thereupon in his, her or their own name or names, and bills or notes which may be is. sued by order of the said corporation promising the payment of money to any person or persons, his, her or their order, or to bearer, though not under the seal of the said corporation, shall be binding and obligatory upon the same in like manner and with the like force and effect as upon any private person or persons if issued by him, her or them, in his, her or their private and natural capacity or capacities, and shall be assignable and negotiable in like manner as if they were so issued by such private person or persons.
XI. And be it further enacted, That it shall be lawful for the Monies sub. directors, for the time being, to call and demand from the be demand stockholders respectively (excepting the shares held by or for ed. the president, directors and company of the bank of Hudson) all such sums of money by them subscribed or to be subscribed, at such times and in such proportions as they shall see fit, under pain of forfeiture of their shares and all previous payments made thereon to the said company; always, however giving thirty days previous notice of such call and demand in one of the newspapers to be published as aforesaid.
XII. And be it further enacted, That the present act of in- This act not corporation shall in no wise be forfeited by any non-user whated by any soever at any time before the last Tuesday of May, which will non-user. be in the year one thousand eight hundred and fourteen, and that it shall on that day be lawful for the stockholders above mentioned to assemble for the purpose of carrying the same into effect, any want of notice in the manner above prescribed
nanong ng in any wieg - og
to be forfeit.