Powers of united com pany. The Legisla this section at discretion. shall thenceforth be the corporate name thereof, and such united company may then exercise and enjoy all the rights, and shall be subject to all the liabilities of other companies formed under the provisions of this section, and which the separate companies had and enjoyed or were subject or liable to before the union thereof. C. S. C., c. 68, s. 77. § 12.-Miscellaneous. 4994. Notwithstanding the privileges conferred by this ture may alter section, the Legislature may at any time, in its discretion, make such additions to this section or such alterations of any of its provisions as it may think proper for affording just protection to the public, or to any person or body corporate or politic, in respect to their estate, property, right or interest therein, or any advantage, privilege or convenience connected therewith, or in respect to any way or right of way that may be affected by any of the powers given to any such corporation. C. S. C., c. 68, s. 78. When the declare a company dissolved. 4995. Whenever it is found expedient for the public service, the Lieutenant-Governor in Council may declare any comCouncil may pany formed under this section dissolved, and may declare all the works of any such company to be provincial works, upon payment to such company of the then actual value of the works, to be decided by arbitrators, one of whom shall be appointed by the Commissioner of Public Works, and one by the company, and if they do not agree to an award, the judge of the Superior in such case. Court sitting in the district in or adjoining which the works are situate appoints the third arbitrator. C. S. C., c. 68, s. 79; 50 V., c. 7, s. 12. Arbitration How company to pro ceed when taken is doubtful. 4996. In every case where any lands or works in the Province have been acquired or purchased, or taken possession of title to lands under the provisions of this section, and when the company purchasing or taking possession of such lands or works has cause to believe that the occupant or person in possession of such lands or works is not the legal owner thereof, or that such lands or works are already mortgaged or hypothecated, the company shall not be bound to pay the amount of the purchase money or of the award, provided for by this section, to the occupant thereof, but may deposit, in the hands of the prothonotary of the district in which such lands or works are situate, the purchase money of such land or works, or the amount awarded therefor, together with its deed of purchase or award, as the case may be, and may proceed to obtained a ratification, by the Superior Court sitting in such district, of such deed of purchase or award, in the manner practised for the ratification of title deeds. C. S. C., c. 68, s. 80. Real owner may inter vene. 4997. The real proprietor of such lands or works and all others having claims in or upon the same may intervene in such proceedings and claim and obtain the purchase money or amount awarded for such lands or works, or their due share thereof, Company to and the court may grant such ratification. become proprietor Upon the ratification, the company shall become and be the after ratifilegal and indefeasible proprietor of the land or works, free and cation. clear of all claims, charges and incumbrances whatsoever. The money so deposited shall stand in lieu of such lands or Money stands works. in lieu of lands. In case of substitution or where minors or interdicted parties Proviso in are interested, the court may make such order as seems meet case there are for the protection of the parties entitled to the same. C. S. C., c. 68, s. 81. minors. SCHEDULE. In accordance with article 4924. Be it remembered that, on this day of the year of our Lord, one thousand eight hundred and we, the undersigned stockholders, met at in the in , county of in the Province of Quebec, and resolved to form ourselves into a company, to be called (here insert the corporate name intended to be taken by the company) according to the provisions of section ninth of chapter third of title eleventh of the Revised Statutes of the Province of Quebec, respecting companies to facilitate the transmission of timber down rivers and streams, for the purpose of constructing a slide, wharf, pier, (or other such work as aforesaid, describing the nature, extent and situation thereof,) and we do hereby declare that the capital stock of the said company shall be dollars, to be divided into shares of twenty dollars each; and we, the undersigned stockholders, do hereby agree to take and accept the number of shares set by us opposite to our respective signatures, and we do hereby agree to pay the calls thereon, according to the provisions of the said in part recited section, and of the rules and regulations, resolutions and bylaws of the said company, to be made or passed in that behalf, and we do hereby nominate (the names to be here inserted) to be the first directors of the said company. Names. Number of Shares. Amount. C. S. C., c. 68, Schedule. SECTION X. For what pur nies may be this section. COMPANIES FOR THE CONSTRUCTION OF ROADS AND OTHER WORKS. § 1.-Formation of the Company. 4998. Five persons or more may form themselves into a poses compa- company under the provisions of this section, for the purposeformed under of constructing any planked, macadamized or gravelled road, not less than one mile in length, whether such road is to be made over entirely new ground, or by improving any existing road not being a turnpike road, or partly by making a new road and partly by improving an existing one, or any bridge or bridges, pier or piers, wharf or wharves, or any slides at or near any falls or rapids on any river or stream, for the safe and more convenient passing of timber, deals and other wood goods. Companies may also be 2. Any such company may also be formed for, or its objects formed for the may extend to, the acquisition of any public work or other acquisition of purpose mentioned in article 1829 of these Revised Statutes. public works, C. S. L. C., c. 70, s. 1. &c. Number re mation. 4999. When any number of persons, not less than five, quired for for- have subscribed a sufficient quantity of stock to amount to a sum adequate, in their judgment, to the construction or acquisition of any road or other work and purposes for which the company is formed, and have executed an instrument according to the form in the schedule to this section, of which an act de dépôt shall be thereafter made before some notary public, Instrument to Have paid to the treasurer of such intended company ten per cent. upon the capital stock intended to be raised for the purposes contemplated by such company, Have registered such instrument, together with a receipt, for be registered. such first instalment of ten per cent., from the treasurer of such company and from the cashier of some incorporated bank, in which the money has been deposited in cash or in provincial securities to the credit of the company, and to be drawn out when at least one-fourth of any road or work to be made or performed by the company, has been completed to the satisfaction of the Commissioner of Public Works, and not before, in the registry office of every division or county through or into which such road is intended to pass, or where such other work is situate: Company incorporated. Powers. Such company shall thenceforth be an incorporated company, by the name designated in the instrument so registered as aforesaid. 2. By such name the persons forming such company and their successors shall have perpetual succession, and be capable at law of suing and being sued, or impleading and being impleaded, answering and being answered unto, defending and being defended in all courts and places whatsoever, in all manner of actions, suits, complaints, matters and causes whatsoever; and they and their successors may have a common seal, and the same may make, alter and change at their will and pleasure. hold, &c... 3. Under such name they may purchase, take, have, hold Power to and convey, sell and depart with any lands or real property real estate. whatsoever, useful or necessary for the purposes of such corporation. 4. By the instrument of association, the shareholders or Further amembers of any such company, may enter into such agreements greements and stipulations and stipulations to and with each other as are not contrary to may be made the laws or the provisions of this section, and the same shall be in the instru binding on such members and their assigns or representatives association. becoming members of the company. C. S. L. C., c. 70, s. 2; 50 V., c. 7, s. 12. ment of may hold 5000. Any religious community or corporation may hold Religions stock in any company incorporated under this section, or lend communities money to any company, and may appoint persons to vote for stock in or them upon the shares so held, or to exercise any of its other lend money to companies. rights as a member of the corporation, in such manner as such community or corporation and the company may agree upon. C. S. L. C., c. 70, s. 3. formed for a 5001. No company shall be formed under this section to Companies construct any line of road for which a charter has heretofore may not be been granted, unless such chartered company has forfeited its certain purcharter by not complying with the conditions thereof. C. S. pose. L. C., c. 70, s. 4. to be vested in the company. 5002. Every road or other work, and all the materials, Property. &c.,. from time to time, provided for constructing, maintaining or repairing the same, and all toll-houses, gates, and other buildings constructed or acquired by any company acting under the provisions of this section and used for their benefit and convenience, shall be vested in the company and its successors. C. S. L. C., c., 70, s. 5. $ 2.-Directors. the directors. 5003. The affairs, stock, property and concerns of the com- Affairs to be pany shall, for the first year, be managed and conducted by managed by five directors, to be named in the instrument of association, and thereafter to be annually elected according to the provi- Election of sions in the said instrument, or if there be none, then according directors. to the provisions of any by-law which the first named directors or their successors may pass for that purpose. Upon every election of directors, each stockholder shall Voting of be entitled to one vote for every share he holds in the com- shareholders. pany. directors. 2. Any majority of the directors shall be a quorum, and may Quorum of exercise all the powers of the directors or of the company, except in so far as it may be otherwise provided by the instrument of association or by the by-laws of the company. C. S. L.. C., c. 70, s. 6. Election of pointment of officers, &c. 5004. The directors may elect one of their number to be president, ap- the president, and appoint such officers and servants as they deem necessary for performing the duties required of them, and may take security from them for the due performance of their duty, and for their duly accounting for all moneys coming into their hands for the use of the company. C. S. L. C., c. 70, s. 7. Directors to make an annual report. Contents thereof. Company to 5005. The directors shall annually, under the oath of the treasurer, during the month of January in each year, make a report to the municipal corporation having jurisdiction within the locality through which their road passes or in which any work is constructed by them, showing: 1. The cost of their work and the amount of money expended; 2. The amount of their capital stock paid in; 3. The amount of stock; 4. The whole amount of stock expended on such work; 5. The amount received during the year for tolls, and from all other sources, stating each separately; 6. The amount of dividends paid; 7. The amount expended for repairs, and the amount of debts due by the company, specifying the object for which such debts respectively were incurred. C. S. L. Č., c. 70, s. 8 § 1. 3.-Books to be Kept. 5006. The company shall also keep regular books of account keep regular in which shall be entered a correct statement of its assets, books of ac count. Open to inspection. Extracts from such books, & c. Value of they may be transferred. receipts and disbursements. Such books shall be at all times open to the examination of any person who may for that purpose be appointed by the municipality having jurisdiction as aforesaid. C. S. L. C., c. 70, s. 8 § 2. 5007. The person so appointed may take copies or extracts from the same, and require and receive from the keeper of such books, and also from the president and each of the directors of the company, and the officers and servants thereof, all the information as to such books and the affairs of the company generally, as he may deem necessary for the full investigation into and report upon the affairs of the company and the profits by it derived from the road or work. C. S. L. C., c. 70, s. 8 § 2. § 4.-Shares, Calls, and Loans. 5008. Each share in the company shall be twenty dollars, shares how and shall be regarded as personal property, and shall be transferable upon the books of the company, in the manner provided by any by-law to be made by the directors in that behalf, and not otherwise so far as regards the rights of the company; no transfer shall be made of any share on which any call remains due and unpaid. C. S. L. C., c. 70, s. 9. |