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tal paid in to be
state; and the said president and directors, or a majority of
om Certificate of clerk, if such there bę, of the said company, shall, within thirty amonnt of capidays after the payment of the last instalment of the capital tal pa stock, make a certificate, stating the amount of the capital so fixed and paid in, which certificate shall be signed and sworn to by the president, treasurer, and clerk, and a majority of the directors; and they shall, within the said thirty days, cause the same to be recorded in the record of deeds for the county wherein this manufactory is established.
Sec. 7. The stock and property of the said company, of Stock personal whatever nature or kind the same may be, shall be deemed estate. personal property, and shall be transferable on the books of the said company, in such manner as shall be prescribed by the by-laws of the said corporation.
Sec. 8. If any of the said officers shall refuse or neglect Penalty for not to perform the duties required of them in the sixth section, making certifithey shall be jointly and severally liable for all debts of the cate company contracted after the expiration of the said thirty days, and before such certificate shall be recorded, as aforesaid,
Sec. 9. The directors shall at all times keep, or cause to be kept, at their manufactory, proper books of account, in which open to inspecshall be regularly entered all the dealings and transactions of said corporation, which books shall be subject at all times to the inspection of the stockholders of the company, Sec. 10. All the stockholders of this company shall be jointly
Stockholders and severally liable for all debts and contracts made by said liable for debts company, until twenty thousand dollars of the capital stock shall of company. have been paid in or satisfactorily secured.
Sec. 11. The said company may be dissolved at a general meeting of the stockholders, specially summoned for that pur- dissolved:
. Company, how pose; provided at least three-fourths in value of the stockholders shall be present or represented therein, and shall vote in favour of such dissolution; and upon such dissolution, the directors for the time being, and the survivors and survivor of
ooks to be
on of stock holders,
them, shall be trustees for settling all the affairs of said company, disposing of its effects, recovering, paying its debts, and dividing the surplus among the stockholders, in proportion to their respective interests in the stock, unless the stockhold. eas, at such general meeting, shall appoint other persons, not less than three, nor more than five in number, for such purpose, in which case the persons so appointed, the survivors or survi. vor of them, shall be trustee and trustees for the purpose afore. said; provided, that no part of the capital stock shall be withdrawn or refunded to the stockholders, at the time of its dissolution, until all the debts and liabilities of the company are fully paid; and in case of any violation of the provisions of this section, the president, directors, and stockholders of this corporation shall be personally liable, in their own estate, jointly and severally, for all debts previously contracted and due from şaid company.
Sec. 12. All elections of directors of the said company shall Election of die be by ballot; and if the president and directors of said company rectors to be by for the time being shall, at any time, neglect or refuse to call
annual meetings for the elections of directors, as herein before prescribed, the stockholders, or a majority of them, may, within the time in such case prescribed, give notice and call meetings, and elect directors, in like manner as if said directors had given notice as prescribed by this act; and if at any election of directors, two or more stockholders shall receive an equal number of votes, then the directors for the time being shall, by ballot, determine which of such stockholders shall be director or directors; and on the death or resignation of any of the directors, the remaining directors shall choose, from among the stockholders, some fit person or persons to fill the vacancy, who shall hold his office or their offices until the next annual election.
Sec. 13. In case it should happen that an election for directCorporation not ors should not be held or made on the day that pursuant to this to be dissolved act it ought to have been held and made, the corporation shall for failure to elect on day not for that cause be deemed dissolved; but it shall be lawful prescribed. to hold such election at such other time as may be prescribed
by the by-laws of said corporation, after thirty days' notice.
Sec. 14. This act shall continue in force twenty years, and
the legislature may alter, modify, or repeal this act, whenever Limitation.
in their opinion the public good requires it.
Approved, March 27, 1845.
A supplement to “ An act incorporating the Rahway Fire
Company," passed December third, eighteen hundred and twenty-three.
WHEREAS the members of the Rahway Fire Association have, Preamble.
by their petition, represented to the legislature, that they have raised the sum of three thousand dollars, the amount of the capital stock limited by their act of incorporation, and have expended the same agreeably to the provisions of the said act, that there is yet a deficiency in their means of pro. tecting against loss and destruction by fire, and have prayed the legislature to pass an act authorizing the said association to assess and raise, by tax, a further sum of money, for the purpose of effecting the object of said corporationtherefore,
BE IT ENACTED by the Senate and General Assembly of the
Corporation auhereby authorized and empowered, at their next annual meet- thorized to ing, and at any subsequent annual meeting, to raise, by a tax, money by tax. for the object of said corporation, any sum not exceeding one thousand five hundred dollars; provided however, that the capital stock of said corporation shall at no time exceed the value of five thousand dollars.
Sec. 2. The managers of the said incorporation shall, at the Inventory of next, and at every subsequent annual meeting, make an inven- property to be tory of all the property of the fire company, which inventory, at a fair cash valuation, shall be taken as the amount of capital stock paid in; the inventories shall be recorded by the secretary upon the books of the company; and the fire company are authorized to raise such sums of money, under the limitations of this act, as the necessities of the company require until their fire engines, engine houscs, reservoirs, ladders, buckets, fire-hooks, and other implements and machines belonging to the association, and used for the purpose of extinguishing fires, shall amount, at a fair cash valuation, to the sum of five thousand dollars. Sec. 3. The several stores of goods, wares, and merchan
Stores of goods, dise, which are or may be kept within the limits prescribed in &c., to be ass the first section of the act to which this is a supplement, shall sessed, be liable to be assessed and taxed, to raise the said money, according to their respective value, in addition to the other pro. perty mentioned in, and liable to be assessed by the fourth sec. tion of the act to which this is a supplement; and it is hereby
made the duty of the assessor or assessors, in addition to the duties prescribed in the fourth section of the said act, to assess such sum of money on the said several stores of goods, wares, and merchandise, as may be deemed just and equitable, in proportion to the whole sum ordered to be raised by said corporation, at their annual meeting, making all just allowances for the various dangers and hazards to which such stores of goods, wares, and merchandise may be subject.
Sec. 4. The managers of the said corporation shall give noManagers to give notice of
of tice of the sum they may deem necessary to be raised, in the amount to be newspapers published in Rahway, at least two weeks previous
to the annual meeting.
Sec. 5. The assessment hereafter ordered to be made, it Time and mode shall be the duty of the assessor or assessors to make, within of making as. twenty days from the first day of April next ensuing the ansessment.
nual meeting; and it shall be the duty of the treasurer, and he is hereby required, on the receipt of the duplicate of said assessment, to give notice, by printed or written tickets, of the sum so assessed on each individual residing within the limits of the said association, at least five days before the meeting of the commissioners of appeal, in person or by notice lest at his or her usual place of residence, or, in case of non-residence, to the tenant in possession, and also the time and place of the meeting of the commissioners of appeal; and after the commissioners of appeal shall have met and disposed of the appeals, it shall be the duty of the treasurer of the association to demand of the person or persons, bodies politic or corporate, owning or occupying property so assessed, the amount of such assessment; and in case of non-payment thereof, for sisty days, he is hereby required to give notice, by public advertisement set up within the limits of the corporation, that if the taxes. be not paid to him within thirty days from the date thereof, that the names of the delinquents, with their respective taxes, will be returned to a justice of the peace for collection.
Sec. 6. In cases of the non-payment of the taxes at the time so as aforesaid appointed, the trcasurer shall make out a
. list of the names of the delinquents, both individuals and corease of non-payment of taxes. porations, with the sums respectively payable by them thereto
annexed, and he shall deliver the same to some justice of the peace, those residing in the county of Essex, to any justice residing in the county of Essex, and those residing in the county of Middlesex, to any justice residing in the county of Middlesex, accompanied with his oath or affirmation, that the moneys therein mentioned have been duly demanded, or due notice of the amount given or left at the usual place of residence of each individual delinquent who could be found within the lim
its of the corporation, and also, that he has given the public notice required in the preceding section.
Sec. 7. It shall be the duty of the said justice of the peace, Tax, how colwithin five days after the receipt of the list of the names of the lected from dedelinquents, to make out and deliver to the constable or consta.
sto linquents. bles a warrant or warrants, requiring him or them to levy the tax so in arrears, with costs, by distress and sale of the goods and chattels of the delinquents; in case any of the buildings so assessed shall belong to non-resident proprietors, the tenants in possession shall be liable for the sum so assessed; and it is hereby made the duty of the said justice of the peace, and he is hereby authorized and required to make it the duty of the constable or constables, in his warrant or warrants, to levy the tax so in arrears by distress and sale of the goods and chattels of the tenant or tenants in possession, giving at least five days' notice of the time and place of such sale, by advertisement set up in three of the most public places within the limits of said association; and it shall be the duty of the said constable or constables to make return to the said justice, and pay over the money to him, or to the treasurer, within forty days after the date of his warrant.
Sec. 8. The justice who shall issue a warrant or warrants, and any constable who shall execute the same, shall be enti- to justices, &c. tled to like fees and compensation as is provided for like services in the “ Act concerning taxes,” to be collected in the same manner; and every such constable, and his sureties, shall be liable, for neglect of duty in executing and returning any such warrant, and paying over the moneys collected, in the same manner, and to the same extent, as if execution had been issued for the amounts out of the court for the tria} of small causes, upon judgment regularly and legally rendered against such delinquents, and had been directed and delivered to such constable.
Sec. 9. The owners of goods, wares, and merchandise, lia- Persons assegg. ble to be assessed by virtue of this act, shall also be members ed to be memof this association, and shall be, as members thereof, subject to assessment for fire tax the same as other persons mentioned in the first section of the act to which this is a supplement. Sec. 10. The managers, and all other officers mentioned in
1. Mode of electhe third section of the act to which this is a supplement, shall tion of officers. be elected; and all assessments for the purpose of raising money authorized by that act, shall be made by plurality of votes, by ballot, and not otherwise; and no person shall be entitled to vote or hold any office mentioned in the said third section, unless he is a member of said association.