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Penalty.

shall for every such offence forfeit twenty dollars, and for each and every fish which he shall or may take, such person shall forfeit the additional sum of five dollars to be recovered with costs of suit, in any court having cognizance thereof, the one half of which forfeitures, when recovered, shall be paid to the prosecutor, and the other half to the overseers of the highways of the town where such recovery shall be had, to be applied to the repairing of the roads in said town.

[Note.-See Note to chapter 146.]

opening a

&c.

CHAP. CCXV.

An ACT for opening and making a Road from the town of
Jay, to intersect the road from Hopkinton to Northwest-
Bay.

Passed April 15, 1814. I. BE it enacted by the people of the state of New-York, repre Comm'rs. for sented in Senate and Assembly, That Reuben Sandford, Charles certain road, Owen and James McIntyre, be and they are hereby appointed commissioners for laying out, opening and improving a road, from or near the dwelling-house of Charles Owen, in the town of Jay, in the most convenient and practicable route, to or near the dwelling-house of Malcom McMartin, in the town of Keene, who shall before they enter upon the duties of their appointment, exeTo give bond cute a bond to the people of this state in the sum of four thousand dollars, with sureties to be approved of by the Comptroller, conditioned for the faithful expenditure of all money which shall come into their hands pursuant to this act, according to the true intent and meaning thereof, and to account with the Comptroller for the expenditure, whenever thereto required; which bond shall be filed in the Comptroller's office.

2000 dollars #ppropriated

Compensa tion to the comm'rs.

II. And be it further enacted, That for the purpose of laying out, opening and making of the said road, the sum of two thousand dollars be appropriated; and the commissioners of the land office shall without delay sell, in such manner and for such price as they may deem proper, so much of the lands belonging to the people of this state in the Eastern district, as will be sufficient to satisfy the said appropriation, which, when received into the treasury of this state, shall be paid on the warrant of the Comptroller to the order of the said commissioners, or a majority of them.

III. And be it further enacted, That the said commissioners shall be entitled to two dollars a day, and no more, for their services and expenses whilst necessarily engaged in the duties of their appointment.

[Note.-The Elba Iron Furnace is situate in Keene, and this road is of importance in facilitating the transportation of iron, &c. and promoting the settlement of the country.]

CHAP. CCXVI.

An ACT to incorporate the Dutchess County Insurance.
Company.

Passed April 15, 1814.

WHEREAS Jesse Oakley, James Tallmadge, junior, and others, have associated themselves as a company, for the purpose of insuring buildings and personal property from loss or damage by fire, as well as for making marine and other insurance, and by their petition presented to the Legislature, have prayed to be incorporated, the better to enable them to carry into effect the salutary objects of their association: Therefore,

Recital

ers.

1. BE it enacted by the People of the State of New-York, repre- Corporation sented in Senate and Assembly, That all such persons as now are created and or hereafter may be associated with them, shall and are hereby general pow declared to be a body corporate and politic, in name and in fact, by the name and style of "the Dutchess county insurance company," and that they and their successors, by such name, shall have power and be capable of suing and being sued, pleading and being impleaded, defending and being defended, answering and being answered unto, in all courts and judicatures whatsoever and wheresoever, and also of contracting and being contracted with relative to the purposes and business for which the said corporation is hereby created, as hereafter declared; and the said corporation shall and may have a common seal, and may destroy and renew, or alter the same at their pleasure.

Capital stock

II. And be it further enacted, That the capital stock of the said corporation shall not exceed two hundred thousand dollars, and shall be divided into shares of twenty-five dollars each, and the whole of the said shares shall, under the direction of the president and directors of the said company, be subscribed, and one fourth part of the amount of the capital hereby created, shall be actually paid, or satisfactorily secured to be paid, before the said corporation shall be authorised to make any policy or contract of insurance whatsoever; and that it shall be lawful for the direc- Calls thereon/ tors for the time being, to call and demand of the stockholders respectively, all such sums of money by them subscribed, at such times and in such proportions as they shall see fit, under pain of forfeiture of their shares, and of all previous payments made thereon, to the said company, always however giving sixty days previous notice of such call and demand, in the newspapers pub- quired. lished in the village of Poughkeepsie.

Notice re

&e.

III. And be it further enacted, That the stock, property and Board of diconcerns, of the said corporation, shall be managed and conduct-rectors, and ed by thirteen directors, one of whom shall be president thereof, how chosen, who shall hold their offices for one year, and until others shall be chosen, and no longer; which directors shall be chosen on the first Monday in January in each and every year, at such time of day, and in such place in the village of Poughkeepsie, as a majo rity of the directors for the time being shall appoint, of which election public notice shall be given in the newspapers printed in the village of Poughkeepsie, at least ten days previous to such

President to be chosen.

election; and such election shall be holden under the inspection of three stockholders, to be appointed by the directors, and shall be made by ballot, by a plurality of votes of the stockholders present, allowing one vote for every share, and the stockholders not present may vote by proxy, and the votes be given by citizens of the United States inhabiting this state.

IV. And be it further enacted, That the directors so to be chosen, shall meet as soon as may be after every election, and shall choose out of their body one person to be president, who shall preside for one year; and in case of the death, resignation or inability to serve, of the president or any director, such vacaney or vacancies may be filled for the remainder of the year by the First direc board of directors; and the first directors shall be Jesse Oakley,

tors.

Election of directors

on any day.

George B. Evertson, James Emott, James Tallmadge, junior, William Davies, Nathan Myers, Henry A. Livingston, Henry Davis, John Brush, Randall S. Street, Paraclete Potter, John Forbus and John Radcliff, one of whom the said directors shall elect by ballot as the first president; and they shall respectively. hold their offices until the first Monday in January next.

V. And be it further enacted, That in case it should at any may be made time happen that an election of directors should not be made on any day when, pursuant to this act, it ought to have been made, the said corporation shall not for that cause be deemed to be dissolved, but it shall and may be lawful on any other day to hold and make an election of directors, in such manner as shall have been regulated by the laws and ordinances of the said corporation.

Transfer of stock.

Powers of

directors.

VI. And be it further enacted, That the stock in the said corporation shall be assignable and transferable, according to such rules as the president and directors shall make and establish; and no stockholder indebted to the said company shall be permitted to make a transfer, or receive a dividend, until such debt be paid, or secured to be paid, to the satisfaction of the president and di

rectors.

VII. And be it further enacted, That the president and direc the bard of tors shall have power and authority, in the name and on behalf of the said corporation, to make all kinds of insurance against fire, all kinds of insurance upon the inland transportation of goods, wares and merchandize, all kinds of marine insurance, and insurance upon life or lives, by way of tontine or otherwise, and generally to do and perform all matters and things relating to the said objects; and all policies shall be subscribed by the president, or in his absence, by an assistant, if any be appointed, or by a president pro tempore, and countersigned by the secretary, and shall be binding and obligatory upon the said corporation, in the like manner, and with the like force, as if under the seal of the said corporation.

Restriction

as to estate held by the

VIII. And be it further enacted, That the lands tenements and hereditaments, which it shall be lawful for the said corpora corporation. tion to hold, shall only be such as shall he requisite for its immediate accommodation in relation to the convenient transaction of its business, or such as have been or may be bona fide mortgaged to the said corporation by way of security, or which may be con

veyed to it in satisfaction of debts previously contracted in the course of its dealings, or purchased at sales upon judgments which it shall have obtained for such debts; and with regard to all such lands, tenements and hereditaments so to be held by the said corporation, as aforesaid, except such as may be for its immediate accommodation, or such as it may hold by way of mortgage, and whereof the actual possession shall be in the mortgagors, the said corporation shall as soon as they can conveniently sell and convert the same into money or other personal property.

and other

IX. And be it further enacted, That the president and direct- Secretary ors, for the time being, shall have power and authority to appoint officers to and employ a secretary, and such other officers, ministers and be chosen, servants, as they may think proper for the transaction of the business and concerns of the said corporation, and to allow and pay them such compensation as they shall see fit, and to vary such compensation, and to displace such officers and servants at pleasure; and also, to make and establish such bye-laws, rules and Power to make bye regulations as they or a major part of them shall think expedient, laws. for the better management and government of the concerns, and officers and servants of the said corporation, so that such bye-laws, rules and regulations be not inconsistent with the constitution and laws of this state or of the United States, and to abolish or alter such bye-laws at pleasure, and to declare and make dividends of the profits accruing to the said corporation by such business as they may lawfully follow and transact among the stockholders, and at such times and in such portions, as to them shall seem meet.

losses.

X. And be it further enacted, That in case of any loss or losses, Dividends whereby the capital stock of the said corporation shall be lessen- in case ed, no subsequent dividend shall be made until a sum equal to such diminution, and arising from the profits of the corporation, shall have been added to the capital.

XI. And be it further enacted, That the said corporation shall Restriction not directly or indirectly deal or trade in buying or selling any in stock, &c. as to trading goods, wares, merchandize, or commodities whatsoever; or, in buying or selling any stock created by any act of the congress of the United States, or of any particular state, unless in buying the same in order to invest its capital stock, or any part thereof, by way of securing the said capital stock, or in selling the same for the payment of its debts, or to re-invest in other stock when truly pledged to it by way of security for debts due to the said corporation: And further, it shall not be lawful for the said corporation And as to to issue or emit any notes or bills, or make any contracts for the payment of money only, except the same be under the seal of the corporation, and all such notes, bills and contracts shall be construed and taken to be specialties, and shall not possess any other or greater power of being assigned or transferred than specialties at common law.

banking.

when bird.

XII. And be it further enacted, That the president may sign Policies any policy or contract, and cause the secretary to attest and sign ing. the same in such manner as to be valid against and to bind the

LAWS-S. 37.

36

Duration of act.

Declared a public act.

said corporation, without the presence of a board of directors, provided the same is done under and in conformity to a bye-law of the corporation, which may have been made and ordained for that purpose.

XIII. And be it further enacted, That the duration of the corporation created by this act shall be twenty years and no longer.

XIV. And be it further enacted, That this act shall be deemed and taken to be a public act, and shall be liberally construed to effect the end and purpose hereby intended and contemplated.

[Note. This act requires no remark. Its object is laudable, and the legislature have very properly given it their sanction.]

Recital.

Certain es

to H. Bur hans.

CHAP. CCXVII.

An ACT for the relief of Henry Burhans.

Passed April 15, 1814.

WHEREAS it appears that Henry Burhans is in possession of a farm of land, situate in Catskill, in the county of Greene, of which William Van Orden Dumond was seised of an undivided portion, which portion the said Henry Burhans purchased for a valuable and full consideration, without a knowledge of any defect of title: And whereas, It appears that the said William Van Orden Dumond was indicted and convicted of the crime of adhering to the enemies of this state during the revolutionary war, and judgment was rendered against him in January term, 1782, and the judgment signed after the signing of the preliminary articles of peace: And whereas, The said Henry Burhans has himself made discovery of the claim or title of the people of this state to the share or interest of the said William Van Orden Dumond, of and in the premises; and inasmuch as it is inexpedient for the people of this state to assert a title and divest the bona fide purchaser of his estate in the premises: Therefore,

BE it enacted by the People of the State of New-York, repretate granted sented in Senate and Assembly, That all the estate, right, title and interest, of the people of this state, of, in and to that farm of land, situate in the town of Catskill, in the county of Greene, in the possession of Henry Burhans, junior, son of the said Henry Burhans, be, and hereby is granted to the said Henry Burhans, his heirs and assigns forever: Provided, The said Henry Burhans shall pay, or secure to be paid, to the people of this state, such sum as the surveyor-general shall, under all the circumstances, think reasonable and just.

Provise.

[Note. This act requires no remark.]

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