in the said county of Middlesex shall continue to have and exercise jurisdiction within the limits of the territory hereby annexed to the township of Rahway, until the second Monday of April next, in the same manner as if this act had not been passed.

other legal

not to be af

6. And be it enacted, That all actions, suits, appeals, pro- Actions and secutions, and other legal proceedings pending in any court, proceedings or before any tribunal having jurisdiction within the county fected. of Middlesex, shall not be affected by the passage of this act, but the same shall and may be prosecuted to the end thereof in the same manner and before the same courts and tribunals, as if this act had not been passed; and all judgments obtained, or that may hereafter be obtained, in the supreme court or in any court in the county of Middlesex, in any suit or proceeding commenced before the second Monday in April next, shall have the same force and effect within that part of the township of Woodbridge which is hereby annexed. to the township of Rahway, as if this act had not been passed; and writs of execution, and other legal process, may be issued thereon, and be directed to the sheriff or other lawful officer of the said county of Middlesex, who is hereby authorized and directed to execute the same, in the same manner as by law he would be required to do if this act had not been passed, and upon such judgment or judgments, a writ or writs of error, and all other legal process may issue, directed to the proper officer aforesaid, and be executed within the said territory in the same manner as if this act had not been passed.

siding in ter

to vote in

7. And be it enacted, That all persons residing within the Persons resaid territory hereby annexed to the township of Rahway, ritory annexed who, if this act had not been passed, would have been enti- Union county tled to vote at ensuing elections in the county of Middlesex, and at the next annual meeting in the township of Woodbridge, shall be and they are hereby declared to be entitled to vote at all ensuing elections in the county of Union, and at all ensuing town meetings in the township of Rahway, until they become disqualified according to law.

Act, when to take effect.

8. And be it enacted, That this act shall take effect on the second Monday in April next.

Approved February 16, 1860.

Names of corporaters.

General pow.

ers.

CHAPTER XLIV.

AN ACT to incorporate the Citizens' Fire Insurance Company in the county of Essex.

1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That Charles Heath, Samuel W. Baldwin, Charles Williams, Lowell Mason, junior, Theodore C. Elliot, Simeon Harrison, William A. Howell, James R. Sayre, junior, Samuel D. Condit, David Oakes, John C. Bailey, Francis P. Sanford, Charles A. Lighthipe, Samuel Smith, Samuel U. Dodd, Andrew Anderson, Stephen W. Tichenor, George A. Halsey, Aaron B. Baldwin, William C. Heath and their associates, shall be and they are hereby created a body corporate and politic, in name and in fact, by the name and style of "The Citizens' Fire Insuance Company," to be located in the town of Orange, in the county of Essex, and by that name shall be known in law, and shall have power to sue and be sued, and to defend and be defended in all courts of law or equity, and to have, purchase, possess and enjoy, to them and their successors, lands, tenements and hereditaments, goods, chattels and effects of

what nature and kind soever necessary for the purposes of this corporation, and the same to grant, demise, alien and dispose of at pleasure for the benefit of the said corporation, and to have a common seal, and alter and renew the same at pleasure, and to make and execute such by-laws and regulations as shall seem necessary and expedient for the government of the said corporation; provided, the same be not con- Proviso. trary to the laws of this state or of the United States.

Capital Etock

2. And be it enacted, That the capital stock of the said Aront of company shall be fifty thousand dollars, divided into shares of fifty dollars each, with the privilege of increasing the same to two hundred thousand dollars at any time during the continuance of this charter; and that the present owners of stock in a certain company known as "The Citizens' Fire Insurance Company," located at the said town of Orange, and formed under the provisions of an act of the legislature of this state, entitled "An act to provide for the incorporation of insurance companies," and the supplements thereto, shall have the right and be deemed and taken as the subscribers to the stock of the insurance company incorporated under this charter, to the same number of shares they may hold in the said company at the date of the passage of this act; and that from that time all the property, both real and personal, of the said company, shall vest in and be deemed and taken as belonging to the company chartered by this act, their successors and assigns, and with the same remedies at law and equity, in respect thereto, as if the original company and subscription had been made under this act.

may be in

3. And be it enacted, That the capital stock may be in- Capital stock creased at any time by the directors of said company, to such creased. amount as they may determine, not exceeding the amount provided for in the second section of this act, and they shall open books of subscription for said increased stock, after giving twenty days' previous notice in at least two newspapers published in the said county of Essex; and the persons who shall then own the stock of said company, shall have the privilege for five days after the opening of said books of sub

Annual election of direc

tora.

First directors.

scription for said increased stock, in proportion to the stock then owned by such subscriber; and after that time, if not subscribed for by said stockholders, it may be subscribed for by others, and the terms of said subscription shall be determined by the said directors, and notice thereof given as aforesaid...

4. And be it enacted, That the business, property, affairs and concerns of the said company shall be managed by a board of twenty directors, who shall be stockholders, and of whom a majority shall be citizens of this state, and of whom five shall be a quorum for the transaction of business; the said directors shall be elected annually, on the second Monday in January in each year, at such hour of the day, and at such place in the said town of Orange as the directors for the time being shall appoint, by a notice published for at least ten days in two or more of the newspapers printed and circulating in the said county of Essex; and they shall be elected by ballot, and by a majority of the votes of the stockholders and their proxies present at such election, allowing one vote for every share of the said stock; the said election shall be held under the direction of two stockholders to be previously appointed for the purpose by the directors for the time being; the said directors shall hold their office for one year, and until others shall be elected in their stead, and no longer; and if any of the said directors shall die or refuse to serve, or neglect to act in their office for the space of three months successively, then and in every such case the remaining directors shall have the power to fill such vacancy or vacancies until the next annual election; and in case said election shall not be held on the day herein before provided, it may be held on some subsequent day, to be appointed by the said directors, and of which due notice shall be given as aforesaid; and the first board of directors of the said company shall be composed of Charles Heath, Samuel W. Baldwin, Charles Williams, Lowell Mason, junior, Theodore C. Elliott, Simeon Harrison, William A. Howell, James R. Sayre, junior, Samuel D. Condit, David Oakes, John C. Bailey, Francis P. San

corporation.

ford, Charles A. Lighthipe, Samuel Smith, Samuel U. Dodd, Andrew Anderson, Stephen W. Tichenor, George A. Halsey, Aaron B. Baldwin, William C. Heath, and they shall continue in office until the first annual election to take place on the second Monday in January, Anno Domini eighteen hundred and sixty-one, and until others are chosen in their stead. 5. And be it enacted, That the said directors, as soon as omcers of may be convenient after their acceptance of this charter, as hereinafter provided, and their successors at each annual election, at their first meeting after such election, shall proceed to choose by ballot, from among their own number, a president and one vice president; the said president, or in his absence the vice president, shall preside at all meetings of the board during his term of office, but the said directors may choose, viva voce, a president pro tempore, to perform all the duties of the president in the event of the absence or disability of both the president and vice president; and the said directors shall also have the power to appoint a secretary, a treasurer, and such other officers and agents as they may deem necessary, and to allow such officers and agents, including the president and vice president, such compensation for their services as to the said directors may seem reasonable.

What proper ty may be in

6. And be it enacted, That it shall and may be lawful for the said company to insure houses and other buildings, and sured. all kinds of personal property, against loss or damage by fire, and also to insure vessels, goods, wares and other property, against every description of casualty incident to marine and inland transportation, upon such terms and conditions as shall be contained in the policies of insurance; and all policies or contracts so made and subscribed by the president, or such other officer as may be designated by the board of directors, and countersigned by the secretary, whether with or without the corporate seal, shall be binding upon the said company, according to the tenor and meaning of said policies or contracts.

7. And be it enacted, That it shall and may be lawful for Company may

hold real estate.