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Foreign corporations may ac. quire, hold and convey lands,
ner as if formed under the same, if such company make a certificate under the hands of the president and directors of the company, that said company desires to come under the said provisions and liabilities; which certificate shall be acknowledged, recorded and filed in the same manner as the certificate required by this act; and such company, on the recording and filing of said certificate as aforesaid, shall be free from the liabilities and provisions of the said act under which said company was formed ; provided, that nothing in this section contained shall be held to affect any transaction, liabilities or debts of any
such company heretofore done, accrued or contracted. As amended. 157. *99. That it shall be lawful for foreign corporations
[to acquire], hold, mortgage, lease and convey such real ations may ac estate in this state as may be necessary for the purpose
of carrying on the business of such corporations in this state, or such as they may acquire by way of mortgage or otherwise in the payment of debts due to said foreign corporation [and foreign corporations having charter authority to engage in the business of acquiring, holding, mortgaging, leasing and conveying real estate are hereby authorized to pursue the conduct of such business in this state, and to that end to acquire, hold, mortgage, lease and convey real estate in this state]; and any convey. ances or mortgages to or by such foreign corporations of lands in this state heretofore made, are hereby declared to be good and valid in this state, both in law and equity. (See Secs. 158 and 1677.)
100. That all contracts or agreements for the sale, letshall be ac , ting, leasing, consolidating, merging, or in any manner proved, and re- disposing of or transferring the franchises, privileges, or retary of state any part thereof, of any company or organization incor
porated by or under the laws of this state, shall be acknowledged or proved as conveyances of land in this state are authorized to be acknowledged or proved, and
* Note.-The amendment struck out the preamble and added the words within brackets.
Contracts for sale, letting franchises, &c.,
corded in the
Not to be con
dating any con
ment not recorded as required by said act.
shall be recorded in the office of the secretary of state within two months after the execution thereof, at the proper cost of the parties thereto: and unless such contract or agreement is lodged with the secretary of state for record within thirty days from the date of the execution thereof, the same shall be of no effect until recorded ; and copies of the said record, duly certified by the secre-Condene tary of state, shall be received in evidence in any court of this state, and be as good, effectual and available in law as if the original contract or agreement was then and there produced; provided, nevertheless, that this act Proviso. shall not be held or construed by any court, or by any strued as invaliofficer or person whomsoever, as having rendered, or as tract or agree rendering invalid or of no effect any such contract or qui agreement as is in said act mentioned, as between the parties to such contract or agreement, nor in favor of or for the benefit of any person or corporation having notice of such contract or agreement, although such contract or agreement has not been or may not be lodged for record or recorded according to the directions of said act; but every such contract or agreement which has not been, and which may not hereafter be lodged for record and recorded pursuant to the directions of said act, shall, between the parties to such contract or agreement, and as to every person or corporation having notice thereof, have the same force and effect as if such contract or agreement had been lodged for record and recorded pursuant to the directions of said act, and such contracts or agreements may be lodged for record and recorded at any time, and from the time of lodging the same for record shall be considered as duly notified to all persons entitled to notice thereof.
101. "An act to authorize the establishment, and to Repealer. prescribe the duties of manufacturing companies," approved February twenty-fifth, eighteen hundred and forty-six, and the several supplements thereto, are hereby repealed; but no company established under the said act,
or any of said supplements, or any person having claims or demands against said company, shall be affected by the repeal thereof. (See Sec. 98.)
102. “An act to authorize the establishment and to prescribe the duties of companies for manufacturing and other purposes," approved March second, eighteen hundred and forty-nine, and the several supplements thereto, are hereby repealed; but no company established under the said act or any of the said supplements, or any person having claims or demands against said company, shall be affected by the repeal thereof. (See Sec. 144.)
103. Foreign corporations, doing business in this state, shall be subject to all the provisions of this act, so far as the same can be applied to foreign corporations. (See Secs. 88–91, 99, 151, 152, 158 and 167.)
104. That all acts and parts of acts, general or special, inconsistent herewith, be and the same are hereby re
*105. That all the real and personal estate of every corporation incorporated by any act of the legislature, or by the filing of a certificate or otherwise under any general law of this state, shull be taxed the same as the real and personal estate of an individual (see Secs. 124, 145 and 181); provided, however, that the provisions of this section shall not apply to railway, turnpike, insurance, canal or banking corporations, or to savings banks, or to cemeteries, church property, or purely charitable or educational associations.
declaring dividends, how changed.
Supplement. P. L. 1876, p. 74.
Approved April 5, 1876. Time of holɑing 106. Sec. 1. That when a company, incorporated under
- the laws of this state, is limited by its charter to certain
fixed times for declaring dividends, or for holding its annual meetings of stockholders for the election of direc
*NOTE.—The amendment struck out the word “hereafter” between the words “corporation” and “incorporated.”
tors, such corporation shall have power at any time to change the time or times for declaring its dividends and holding said annual meetings, upon the vote of twothirds in interest of its stockholders at any regular meeting of said stockholders. (See Secs. 46, 170 and 224.)
Approved April 12, 1876. P. L. 1876, p. 103. 107. SEC. 1. Amends section ten of the act of 1875. Amended. (Incorporated in section, see Sec. 10.)
*108. SEC. 2. That all companies that may be hereafter Asamens established by virtue of this act, and of the act to which Power to con: this is a supplement, for the purpose of damming rivers tain dans on and streams in this state, or between this state and anys other state, shall have power to construct, erect and maintain dams on rivers and streams of the width as hereinbefore mentioned, at such points on said rivers and streams, and of such heights as may be by them deemed necessary or advisable, not exceeding ten feet above common low water of such rivers and streams; provided, that Scbutes to be such dams on all navigable rivers shall each have a good and sufficient schute in connection therewith of not less than one hundred feet in width, to enable rafts and flat boats to pass safely and conveniently down the same; and also provided, that said dams shall each be constructed Fishwas to be with a fishway for the passage of shad and other fish, which said fishways shall be constructed and maintained under the supervision and approval of all of the fish commissioners of this state; and also provided, that the Plans to be ap. plans and construction of such dams shall be approved of engineers. by at least three engineers and experts to be appointed by the governor of this state, on the application of such companies; they shall receive such compensation for compensation their services as shall be fixed by said governor, and any
P. L. 1878, p. 90.
struct and main
tain dams on no 0uaTuS IVOI rivers and
*NOTE — The amendment required the fish way to be approved by all the fish commissioners, in place of a majority, and imposed a forfeit for failure to comply with the provisions of the act.
proved by board
May cut or acquire main canals or raceways on each side of rivers or streems.
Water directed to be returned.
company failing to comply with the provisions of this section shall thereby forfeit the franchises given it by this act. (See Sec. 139.)
109. SEC. 3. That such companies shall have power to cut or acquire main canals or raceways on each side of said rivers or streams, from their said dams to such point or points below as may by them be deemed necessary, and also to cut, construct and erect as many lateral, or branch raceways, locks, weirs, gates and other works, from their said main canals or raceways to the said rivers or streams, as may by them be deemed expedient for the purposes of creating and using the water or water-power
of the said rivers and streams for mills, manufactories, Wheredirected foundries, machine shops and other purposes; provided,
that the water so diverted from such rivers and streams shall be returned again to them after being used for the purposes aforesaid; and that the water shall not be so completely diverted as to leave the general beds of the
rivers and streams below such dams uncovered or bare ; mencement and and further provided, that such companies shall commence
their proposed dams and works within six months from the date of their organization, and complete their said dams and cut or acquire their main canals or raceways within two years from the date of commencement as aforesaid, and any company failing to comply with the provisions of this section shall thereby forfeit the fran
chises given it by this act. Marchases based 110. Sec. 4. That such companies shall have power, lands, lots, sites, from time to time, to purchase, receive and hold, possess and water priv- and enjoy, demise, grant, lease, alien, sell and convey all and effects, and such lands, lots, sites, mills, manufactories, erections,
hereditaments and waters, water powers and water privi. leges, rights, goods, chattels and effects, or any part thereof, for such term or terms, and upon such condition · or conditions as they shall from time to time deem neces.
sary or expedient for the public purposes of this act, and also to construct, make, erect, form and maintain all such
Time for com
completion of work,
May have, hold, purchase, lease and convey lands, lots, sites, water powers
ileges, rights, goods, chattels and effects, and construct reservoirs, aqueducts, &c.