General Plank Road Law, of the State of New York, as Amended by the Laws of 1847, 1848, & 1949 (Paperback)

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. 1849. Excerpt: ... CHAP. 18 REVISED STATUTES PART FIRST. TITLE I. OP TURNPIKE CORPORATIONS. 5 7. An election for directors shall thereafter be annually held, on the same.day of the same month on which the first election was held; and at each election, election, including the first, the stockholders present, by a plurality of votes, shall elect by ballot, three persons, to preside at the next succeeding election. 8. If an annual election shall not be held on the day fixed by law, it shall be held in the same manner, and with the like effect, on some early day, to fjj be appointed by the directors then in office, who shall give and publish the same notice thereof, as is required in respect to the first election; and who, after the day on which such election ought to have.been held, shall be incapacitated from doing any act as directors, except such as may be necessary, to give effect to the election so to be appointed. J 9. The persons presiding at each election, shall immediately, after re.ceiving the ballots, openly estimate the votes, and thereupon make and sub-presiding scribe a certificate of the result. Of the first election, they shall make a re- cer' turn to the directors chosen, at their first meeting thereafter. & II. Five directors shall be a board for the transaction of business, and 'Quorum: the acts of a majority.of the board shall 'bind the corporation.' 12. The directors, at their first meeting after their election, shall elect by President. ballot one of their number as president. 13. The board shall supply every vacancy that may occur in the office of a director, and the person chosen shall hold his office until the next annual Vacancie-election. They shall.'ilso supply from the directors, every vacancy that shall occur in the office of presid...