Vacancies, how filled. Not dissolved elect directors seven directors, one of whom shall be president, and a majority of whom shall constitute a quorum for the transaction of business, who shall hold their office for one year and until others are chosen in their stead; and every year thereafter, at such time and place, and upon such notice as the by-laws of said association may appoint, an annual election shall be held for directors, a treasurer, and such other officers as the by-laws may require. 4. And be it enacted, That said association shall have power to make by-laws needful for the government thereof and concerning the management of its affairs; in case of vacancy in any of the offices of said association by death or otherwise, the office so vacated shall be filled by a vote of the association at any monthly meeting thereafter, a majority of the stockholders present being necessary for a choice. 5. And be it enacted, That the stock of said association shall be deemed personal estate, and shall be transferable on the books of the association in such manner as the by-laws shall direct, and no dividends shall at any time be made, except from the net profits of the association. 6. And be it enacted, That in case an election for directors for failure to shall not be held on the day prescribed by the by-laws, the said corporation shall not therefor be deemed dissolved, but the said election shall be held on such other day as the directors may appoint. 7. And be it enacted, That it shall require a two-third vote of all the stockholders to alter or amend the constitution or by-laws of said association. 8. And be it enacted, That a regular book of accounts shall be kept in the office of the said association at the city of Rahway, in the county of Union, to which book every stockholder may have full and free access at all reasonable times for inspection. 9. And be it enacted, That this act shall take effect immediately. Approved March 18, 1868. CHAPTER CLXXVII. Supplement to an act entitled "An act for the more effectual organization of the Militia," approved April sixth, eighteen hundred and sixty-five. to obtain mili in the hands 1. BE IT ENACTED by the Senate and General Assembly of Proceedings the State of New Jersey, That whenever the quartermaster tary property general of this state, or any military officer of this state, of persons. charged with the care and responsibility of public property, and who shall have given bonds to the quartermaster general for the safe keeping and return of the same, shall by petition verified by his oath or affirmation, represent to any court of common pleas that a certain person, whom he shall name in such petition, resident in said county, has in his possession and illegally detains, any arm or arms, article or articles of clothing or equipments, the property of this state (describing the same generally), for the safe keeping and return of which such person has not given bonds to the quartermaster general or to the state, after demand made for the same by the said military officer, or by any person by him duly authorized to receive the same, upon filing said petition it shall be lawful for the said court to cause a rule to be entered in the minutes of said court, ordering the party complained against to show cause, at such short day as the said ccurt shall appoint to deliver up the same to the said military officer by said day, or to show cause on that day before said judge why the same shall not be so delivered up, a copy of which said rule, certified by the clerk of said court, shall be served on said delinquent personally, at least two entire days before the day of hearing, or left at his residence or place of abode, at least four entire days before such day of hearing, which service may be made by any constable of the county. ceedings. 2. And be it enacted, That if the said party complained Further proagainst shall not deliver up said arm or arms, article or articles of clothing and equipments in said petition mentioned, at or before the day of hearing so appointed by the court, or show good cause to the contrary, on due proof by affidavit of the service of a copy of said rule according to law, it shall be lawful for the said court to issue forthwith an attachment for contempt against said party, and he shall be held as in May demand a trial by jury. ceedings. pro contempt, and dealt with accordingly until he shall comply with the order of the court, or deliver up said arm or arms, and article or articles of clothing and equipments to the said military officer filing the petition, or to the sheriff of the county for him, and pay the reasonable costs of such proceeding, to be taxed by the court for the use of the county. 3. And be it enacted, That if the said person so complained against shall at any time before such day of hearing demand a trial by jury, it shall be the duty of said court to issue a venire facias to the sheriff of said county, to summon a jury of twelve men, competent as jurymen, according to law, to be and appear before said court, at such time as shall be expressed in such writ, to make a jury for the trial of such complaint made against the said person; if the verdict of the jury shall be against the party complained against, and if he shall fail within a reasonable time, to be fixed by the court, to deliver the property and pay the costs as aforesaid, he shall be deemed in contempt, and proceeded against as prescribed in the preceding section. Prosecutor of 4. And be it enacted, That the proceedings shall be concounty shall ducted by the prosecuting attorney of the county where the petition is filed, and the costs shall be paid in the first instance by the sheriff of the county in which the complaint is made. Commissioned officers must clothing. 5. And be it enacted, That it shall be the duty of the quargive bond for termaster general, before furnishing uniforms to the noncommissioned officers and privates who shall elect to be so furnished with such uniforms by the state, upon the requisition of the commandant of the company, countersigned by the commandant of regiment or battalion and corps to which said company is attached, to require the commissioned officers to give bond, with satisfactory security, that the said uniforms shall be kept in the armory of such company for safe keeping, for the use of the company, until the said uniforms shall be accounted for, as provided in section sixteen of the act to which this is a supplement. Authority for quartermaster cancel bonds. 6. And be it enacted, That it shall and may be lawful for general to the quartermaster general of this state, at his discretion, to cancel the bonds given for arms or equipments, or other military property of this state, by any officer or officers of the militia of this state whenever said quartermaster general shall be satisfied by or from the accounting of, or on behalf of such officer or his surety or sureties for such arms, equipments or other property, that the same has been lost or destroyed by Approved March 18, 1868. CHAPTER CLXXVIII. An Act to incorporate the Ridgefield Park Hotel Company. 1. Be it enacted by the Senate and General Assembly of Corporators. the State of New Jersey, That Edward K. Alburtis, Isaac Dayton, John J. Anderson, William S. Banta and John H. T. Banta, and their associates, and all other persons who shall become subscribers and owners of the capital stock hereby created, shall be and they and their successors are hereby incorporated and made a body politic, in fact and in law by the name of "The Ridgefield Park Hotel Company," Name. and by that name shall have power to lease or purchase and hold real estate in the county of Bergen, and to erect and maintain thereon a boarding house and boarding houses and hotels and other buildings and improvements for the accommodation of boarders and visitors, and to transact all such business as may be incident or appertaining to the erecting, furnishing, conducting, leasing or holding said premises or otherwise disposing of the same for the purposes aforesaid, and to mortgage or sell and convey said real estate or any part thereof in fee simple. 2. And be it enacted, That said corporation shall have Capital stock. power to raise by subscription a capita stock of fifty thousand dollars, in shares of one hundred dollars each, with liberty to increase the same whenever a majority of the directors of said corporation shall so determine, which capital stock shall be personal property, and be transferable in such manner as the by-laws of said corporation shall direct; and each share of such capital stock shall entitle the bona fide Commissioners to open books of subscription. How dissolv. ed Debts not to and may be secured by holder thereof to one vote, either in person or by proxy, at all meetings of the stockholders. 3. And be it enacted, That the persons named in the first section of this act are hereby appointed commissioners to secure subscriptions to said capital stock, at such time and place in the county of Bergen as a majority of them may appoint; and they shall convene the stockholders for the purpose of organizing said corporation; and the said stockholders when so convened may elect directors, not less than three nor more than five in number, who may appoint such officers as they shall deem necessary, and the said directors and other officers shall hold their respective offices until others are elected in their stead; and in case of a vacancy in the board of directors by death, resignation or otherwise, a majority of the remaining directors shall have power to fill such vacancy. 4. And be it enacted, That the said corporation may be dissolved whenever the stockholders representing three-fourths of the amount of said capital stock shall so determine at a meeting held for that purpose, and of which all the stockholders shall have received five days' previous notice in writing specifying the object of such meeting; and in such case the directors for the time being shall be trustees to sell and dispose of the property of said corporation, who shall divide the proceeds of such sale, after payment of the debts and liabilities of said corporation, pro rata among the stockholders. 5. And be it enacted, That the whole amount of debts exceed capital which the said corporation shall at any one time owe shall not exceed the amount of the capital stock subscribed for, and the same or any part of said debts may, by order of the board of directors, be secured by mortgage upon said real mortgage. estate. 6. And be it enacted, That this act shall take effect immediately. Approved March 18, 1868. |