Laws of the State of New York Volume 60 ; passed at the session of the Legislature

 
9781231154779: Laws of the State of New York Volume 60 ; passed at the session of the Legislature
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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1837 Excerpt: ...shall be stockholders, and shall be entitled to one vote on each share of twenty-five dollars of such stock. TnKtģes § 3. The affairs of the said corporation shall be managed by twelve trustees, who shall be stockholders to the amount of one hundred dollars each. The said trustees shall, on the first Monday of June next, be divided into three classes, to be numbered one, two and three, and the numbering to be determined by lot. The seats of the first class shall become vacant at the expiration of one year, the second at the expiration of two years, and the third at the expiration of three years; and the said vacancies shall be filled up by ballot, and the person so elected shall hold their offices for three years from the several times of their appointment, but the said trustees may, in all cases, continue to act until others are appointed in their places. feesi"ns § 4-The persons named in the first section of this act, shall be trustees until the first Monday of June, one thousand eight hundred and thirty-seven, and on that day, and on every first Monday of June in each and every year thereafter, at such place in the village of Albion as the trustees shall appoint, there shall be an election of trustees as provided in the third section ot this act, by the stockholders in person, or by proxy, being entitled to one vote for each share of twenty-five dollars of stock by him held. 5. The corporation hereby created, shall possess the Že"J powers and be subject to the provisions contained in the fifteenth and eighteenth chapters of the first part of the Revised Statutes, so far as the same are applicable and has not been repealed; and the legislature may at any time alter, modify or repeal this act. § 6. The said academy shall ...

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