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demands on said corporation, and who shall have actually instituted a suit against them.
Sect. 3. Be it further enacted, That it shall be lawful for Shares. the said corporation to divide their capital stock and property into any number of shares, not exceeding five thousand, of the value of one hundred dollars each.
Sect. 4. Be it further enacted, That the shares in the stock of said corporation shall be personal estate, and that the evidence of proprietorship in said shares shall be a certificate signed by the president, and countersigned by the secretary, and bearing the common seal of the corporation, and shall be assign- Transfer of able by endorsement under the hand of the proprietor to whom the shares. same shall have been issued, and the title to any share or shares shall be vested in the assignee thereof, when the assigned certificate shall have been surrendered, and the transfer recorded by the secretary, and a new certificate shall thereupon be issued in manner aforesaid, to the assignee. Sect. 5. Be it further enacted, That the said proprietors, Election of di
rectors and at their first or any subsequent meeting, may choose such a num
other officers. ber of directors as they shall think proper, and a secretary, treasurer, and any other officer or officers, as said proprietors may think best, all which officers shall be chosen annually unless, said proprietors shall otherwise order, and the directors shall choose one of their own number, who shall be president of the corporation ; and all officers so chosen shall hold their offices until others are chosen, unless said proprietors shall, at an annual meeting, vote to abolish or suspend any of the said offices, and the said proprietors shall have power to prescribe the respective duties of the officers so chosen, and to make such by-laws and regulations for the government of the affairs of the corporation, as they shall think fit, not repugnant to law, and the secretary of said corporation shall be sworn to the faithful discharge of his duty. The annual meeting of said proprietors for the choice of officers shall be held in the city of Boston, on such day in the month of January, and at such place, as said proprietors may order, of which public notice shall be given by advertisement in two or more newspapers printed in Boston, ten days at least before the time of such meeting.
Sect. 6. Be it further enacted, That in the election of Right of voting. officers, and all other questions that shall come before said proprietors, each proprietor shall be entitled to as many votes as he sball bave shares, and absent proprietors may authorize any proprietor to appear and vote in their behalf, such authority appearing in writing filed with the recording officer of the meeting.
Sect. 7. Be it further enacted, That said corporation shall Assessments. have power to assess on the several members thereof, from time to time, such sums of money as may be deemed necessary to effect the objects of the corporation, not exceeding one hundred dollars in the whole on each share : provided, that two thirds in number, and interest of the proprietors, present at the meeting at which any assessment shall be voted, shall concur therein, and VOL. VII.
that no assessment shall be made, unless public notice shall be given of the time, place and purpose of said meeting, by advertisement in two or more newspapers printed in Boston, ten days
at least before the time appointed therefor. Proceedings in Sect. 8. Be it further enacted, That after an assessment case of refusal
shall have been laid on the shares of said corporation, no assignee to pay assess
of any share shall be entitled to a certificate in his own name, until all assessments due on said share shall have been paid ; and said corporation shall have power, by such rules and regulations as they may establish, to provide for the sale at public auction of any share or shares whereon any assessment shall be due and unpaid, notwithstanding any assignment thereof by the delinquent pro
prietor. Shares liable to Sect. 9. Be it further enacted, That the shares of probe attached on
prietors in said corporation shall be liable to be attached on mesne mesne process.
process, and taken and sold on execution to satisfy judgments recovered against the proprietor or proprietors of such shares in the
same manner as is by law provided in similar cases. First meeting
Sect. 10. Be it further enacted, That the said William H. Eliot shall have authority to call the first meeting of said corporation, by advertising in any of the public newspapers printed in Boston, ten days at least before the time of meeting. [June
15, 1831.] Chap. 21. An Act to incorporate the Methodist Episcopal Society of Pittsfield.
Sect. 1. BE it enacted by the Senate and House of Rep
resentatives, in General Court assembled, and by the authority Persons incor- of the same, That James Foot, William Stevens, John Butler porated.
and Thomas A. Gaylord, with such others as may associate with them, and their successors, be, and they hereby are incorporated into a society, by the name of the Methodist Episcopal Society in Pittsfield, with all the powers and privileges to which other religious societies are entitled by the constitution and laws
of this Commonwealth. First meeting
Secr. 2. Be it further enacted, That the first meeting of said society shall be convened by a warrant to be issued by any justice of the peace in the county of Berkshire, directed to any member of said society, requiring him to notify the members of said society to meet at such time and place as shall be designated
in said warrant. [June 15, 1831.] Chap. 22. An Act to authorize the President, Directors and Company of the Newburyport Bank
close its 1814 ch. 59.
Sect. 1. BE it enacted by the Senate and House of Rep
resentatives, in General Court assembled, and by the authority Cessation of banking com- of the same, That the President, Directors and Company of the pany.
Newburyport Bank shall, from and after the fifteenth day of June, in the year of our Lord eighteen hundred and thirty-one, cease to be a banking company, in the same manner, and to every intent and purpose, as if the act incorporating said company had expired by its own limitation.
Sect. 2. Be it further enacted, That the president, directors
1812 ch. 50.
and company of said bank shall be continued a body corporate, Continuation of to enable them to settle and close their concerns, subject to the Co
concerns, suoject to me city for three obligations, and with the rights and privileges, belonging to them, years. except as is herein after provided, for the term of three years from and after the aforesaid fifteenth day of June and no longer; for the sole purpose of enabling said bank to close its concerns.
Sect. 3. Be it further enacted, That the holders of the Stockholders listock in said bank shall be chargeable in their private and indi- ab
ment of bills. vidual capacities, and shall be holden for the payment and redemption of all bills which may have been issued by said corporation, remaining unpaid, in proportion to the stock they may respectively hold.
Sect. 4. Be it further enacted, That, from and after the Loans. fifteenth day of June aforesaid, it shall not be lawful for said bank, nor for any person acting in their behalf, in the capacity of president, directors, trustees, agents or otherwise, to make any new loan of any monies in behalf of said bank, nor to issue or put in circulation any bank bills, post notes, checks, or other securities for money for or on account of said bank, or of the stockholders, nor to contract any new debt or debts, except such as in the ordinary course of business may be necessary for the salaries of their officers, and contingent expenses incident thereto, nor to receive any but special deposits, nor any notes for collection, Provided, always, that the said bank may, during the term aforesaid, discount any notes, bonds or mortgages which may be presented in lieu of notes, bonds or mortgages due, or growing due to them on the fifteenth day of June aforesaid, or which may be due or growing due to them before the fifteenth day of June, which will be in the year of our Lord eighteen hundred and thirtyfour.
Sect. 5. Be it further enacted, That it shall be, and hereby Concerns to be is declared to be the duty of the president and directors of said broug bank, from and after the fifteenth day of June aforesaid, to adopt all proper measures for bringing the concerns of said bank to a close as speedily as can be effected without manifest inconvenience to the public ; and if the president and directors of said bank, or either of them, or any person or persons acting as agents or trustees, or otherwise in behalf of the stockholders of said bank, shall, after said fifteenth day of June, presume to make or consent to any new loan of monies, or to issue or put in circulation any bank bills, post notes, checks, or other securities, or [the] promises for the payment of money, for or on account of said stockholders respectively, or shall discount any notes, bonds or mortgages, except such as may be offered in lieu or renewal, in part, or in whole, of notes or other securities which may be then or afterwards due or growing due to said bank, or shall permit specie or cash to be deposited in the vaults of said bank, except such as may belong to the stockholders thereof, or shall receive any notes or securities for collection, except for monies due or growing due to said bank ; every person by whose procurement, privity, or consent, any such loan, issue of securities, discount,
t to a
deposit, or receipt of notes for collection, contrary to the true intent and meaning of this act, shall be permitted or done, shall forfeit and pay for each offence treble [the] value of all surns so loaned, issued, discounted, deposited, or left for collection, to be recovered before any court proper to try the same, one half to the use of the person informing, the other half to the use of the
Commonwealth. [June 15, 1831.) Chap. 23. An Act in addition 10 an Act to incorporate the First Congregational Society in 1794 ch. 18.
Sect. 1. BE it enacted by the Senate and House of Repre(v. 1. p. 535.)
sentatives, in General Court assembled, and by the authority of Authorized to
the same, That the First Congregational Society in Sutton be, raise money by and they hereby are authorized and empowered to raise by tax pews.
on the pews or parts of pews or seats in the meeting-house of said society, or on such portion of them as said society at a legal meeting thereof shall vote and determine to be taxed and assessed, such sum or sums of money as they shall agree upon and grant for the purpose of supporting and maintaining a public teacher or teachers of morality or religion, for repairs and alterations of their said meeting-house, and for all other purposes inci
dent to and connected with the objects of said society. Duty of collec- Sect. 2. Be it further enacted, That it shall be the duty of
the collector or collectors of said society, to give notice to the proprietor or proprietors of the pews or parts of pews, or seats in said meeting-house, by posting up at the entrance thereof, and at some other convenient public place in said town of Sutton, a notification, in writing, of the time and place he or they will meet the said proprietor or proprietors, thirty days at least prior to the time of such meeting, together with a copy of the tax bill committed to him or them to collect, to receive the tax or assessment made upon his or their respective pew or pews or parts thereof, or seats, for the purposes aforesaid ; and if any proprietor or proprietors as aforesaid shall fail to meet said collector or collectors, as aforesaid, and pay to him or them the tax or assessment made upon his or their pew or pews, or parts thereof, or seats as aforesaid, and shall neglect or refuse to pay the same to said col
lector or collectors, for the space of fourteen days after the time Sale of delin- appointed for said meeting as aforesaid, such collector or collecquents' pews. tors of said society are hereby authorized and empowered to sell
at public vendue such delinquent proprietor or proprietors' pew or pews, or interest therein, or seat or seats, having first given public notice of the time and place of sale, by posting up notifications thereof at two or more public places in said town of Sutton, four days at least before the time appointed for said sale, and make and execute a good and sufficient deed or deeds thereof, to the purchaser or purchasers of the same : provided, however, that such sale or sales shall not be valid, nor the deed or deeds be given as aforesaid, unless said collector or collectors shall have first obtained the consent in writing of the prudential committee of said society to make such sale or sales as aforesaid. And in case the proceeds of the sale of such delinquent or delinquents'
pew or pews, or parts thereof, or seat or seats, made as aforesaid, shall not be sufficient to pay the whole amount of the sum assessed upon them as aforesaid, and all legal charges, such collector or collectors are authorized and empowered, and it is hereby made their duty to collect such deficiency, with all the expenses attending the same, out of other property of such delinquent or delinquents, in the same manner as town, county or state taxes are collected.
Sect. 3. Be it further enacted, That so much of the act to Repeal. which this is in addition, as is inconsistent with the provisions of this act, be, and the same is hereby repealed. (June 15, 1931.] An Act 10 incorporate the President, Directors and Company of the Commercial Chan. 24. Bank in the city of Boston.
Sect. 1. BE it enacted by the Senate and House of Representatives, in General Court assembled, and by the authority of the same, That Benjamin Fiske, John Brown, Newton Willey, Persons incorIsaiah Bangs, Parker H. Pierce, Phineas Sprague, Ammi Ć. po Lombard, Ezra Weston, William Parker, Alfred Richardson and Aaron Everett, their associates, successors and assigns, shall be, and they hereby are created a corporation, by the name of the President, Directors and Company of the Commercial Bank in the city of Boston, and shall so continue until the first day of October, which shall be in the year of our Lord one thousand eight hundred and fifty-one, and shall be entitled to all the pow- Powers and ers and privileges, and subject to all the duties, liabilities and duties. requirements, contained in an act passed on the twenty-eighth day of February, in the year of our Lord one thousand eight hundred and twenty-nine, entitled "an act to regulate banks and 1828 ch. 96. banking,” and the further provisions contained in an act, passed on the twenty-eighth day of February, in the year of our Lord one thousand eight hundred and thirty-one, entitled "an act to 1830 ch. 53. continue the banking corporations therein named, and for other purposes."
Sect. 2. Be it further enacted, That the capital stock Capital stock. of said corporation shall consist of five hundred thousand dollars, to be divided into shares of one hundred dollars each, to be paid in such instalments, and at such times as the stockholders may direct : provided, that the whole be paid within one year from the passing of this act.
Sect. 3. Be it further enacted, That the said bank shall be Location. established in the city of Boston, and that any one of the persons before named shall be authorized to call the first meeting of said corporation, by advertising the same in any newspaper published in the city of Boston, ten days at least before said meeting. (June 15, 1831.] An Act to alter and amend an Act entitled “An Act to incorporate the Charlestown Chan 25 Fire and Marine Insurance Company."
Sect. 1. BE it enacted by the Senate and House of Rep- 1830 ch. 8. resentatives, in General Court assembled, and by the authority of the same, That the corporation called and known by the Change of locaname of the Charlestown Fire and Marine Insurance Company, tion.