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section shall be liable, civilly, to the party injured or to the extent of the damages thereby received, and shall also be liable to an indictment for a misdemeanor, punishable by fine or imprisonment, or both, to the extent that misdemeanors are by law punishable, in the discretion of the court by which he may be tried.
$ 9. Each association formed under the provisions of this act shall, at the close of its first year's operations, and annually at the same period in each year thereafter, publish, in at least one newspaper of general circulation published in the city, town or county where the principal office or place of business of such corporation is located, or, if no newspaper shall be published in said county, then in any newspaper of general circulation published nearest such office or principal place of business, a concise statement, veritied by the oath of its president and secretary, showing the actual financial condition of the association and the amount of its property and liabilities, specifying the same
particularly. Liability. § 10. All shareholders of any association formed under
the provisions of this act shall be individually liable to the creditors of such association to an amount equal to the amount of stock held by them respectively, for all debts contracted by such association. The directors or other officers of every association formed under the provisions of this act, shall be personally liable for any fraudulent nse, disposition or investment of any money or other property belonging to such association, or for any loss which shall be incurred by any investment made by such directors or other officers, other than such as are mentioned in and authorized by the articles of association; but no director or other officer of any such association shall be liable as afore. said, except he authorized, sanctioned, or approved, or made such frauduleut use, disposition or investment as afore. said.
§ 11. No person holding any stock in such corporation as executor, administrator, guardian or trustee, and no person holding such stock as collateral security, shall be personally subject to any liability as stockholder of such corporation, but the person pledging such stock shall be considered as holding the same, and shall be liable as stockholder accordingly; and the estate or funds in the hands of such executor, administrator, guardian or trustee, shall be liable in like manner and to the same extent as the testator, or intestate, or the ward or person interested in such trust fund would have been if he or she had been living or competent to act and hold the same stock in his or her own
name. Representation. § 12. Every such executor, administrator, guardian, or
trustee, shall have the right of having the share or shares
of stock in his hands represented at all meetings of the company, subject to the provisions of the articles of asso)ciation, and every person who shall pledge his stock as aforesaid may, nevertheless, represent the same at all such meetings, and may vote accordingly as a stockholder.
$ 13. In case it shall happen at any time that an elec. Election. tion of officers shall not be made on the day designated by the by-laws or articles of association of such corporation, at the time for holding such election, the corporation shall not for that reason be dissolved, but it shall be lawful on any other day thereafter to hold an election for trustees, or other officers, in such manner as may be provided for by said by-laws or articles of association; and all acts of trustees or other officers shall be valid and binding as against such company until their successors are elected and qualified.
§ 14. Any corporation which may be formed under the Capital stock. provisions of this act, may increase or diminish its capital stock, by complying with the provisions of this act, to any amount which may be deemed sufficient and proper for the parposes of the corporation ; but before any corporation shall be entitled to diminish the amount of its capital stock, if the amount of its debts and liabilities shall exceed the amonnt of capital to which it is proposed to be reduced, such amount of debts and liabilities shall be satisfied and reduced, so as not to exceed such diminished amount of capital.
$ 15. Whenever any such corporation shall desire to Meating call a meeting of the stockholders, for the purpose of increasing or diminishing the amount of its capital stock, it shall be the duty of the trustees to publish a notice, signed by at least a majority of them, in a newspaper of general circulation published in the city, town or county where the principal office or place of business of such corporation is located, if any such be published therein, at least ten days, and to deposit a written or printed copy thereof in the post office, addressed to cach shareholder at his usual place of residence, at least ten days previous to the day tixed upon for holding such meeting, specifying the object of the meeting, the time and place when and where such meeting shall be held, and the amount to which it shall be proposed to increase or dininish the capital; and a vote of at least two-thirds of all the shares of stock issued shall be necessary to an increase or diminution of the amount of its capital stock. $ 16. If, at any time and place provided for in the pre
Proceedings ceding section of this act, stockholders shall appear in per- at meeting. son or by proxy, in numbers representing not less than two thirds of all the stock issued by the corporation, the meeting shall organize and proceed to a vote of those pre
sent in person, or by proxy; and if, on canvassing the votes,
ed to the amount specified in such certificate.
in pursuance of this act, certified by the county clerk, or
$ 18. No loan made by any such association to any one
$ 19. The trustees of such corporations shall have power to make such prudential by-laws and regulations as they shall deem proper for the management and disposition of the stock and business affairs of such corporation, not inconsistent with the laws of this state or the articles of associa. tion, and prescribing the duties of officers and servants that may be employed; for the appointment of officers and agents; for the security of the funds of the corporation; and for carrying on all kinds of business within the scope
of the objects and purposes of such corporation.
repeal this act, and such amendment or repeal shall not,
been previously incurred.
tions incorporated under the provisions of this act, together
$ 22. Any existing association formed for the purpose Existing a880mentioned in the first section of this act, may, by a vote of a majority of the voting shares, at any regular meeting, or meeting specially called, as provided in the articles of association, after the passage of this act, become entitled to the benefits of this act on complying with the second and third sections thereof, unless the second section of this act shall have been heretofore complied with, in which case it shall be necessary to comply with the provisions of the said third section only.
$ 23. All acts and parts of acts conflicting with the Repeal. provisions of this act are hereby repealed.
$ 24. This act shall take effect and be in force from and after its passage. APPROVED March 26, 1869.
AN ACT to amend the several acts relating to municipal corporations pass- In force April ed by this, the twenty-sixth general assembly.
SECTION 1. Be it enacted by the People of the State of Ilinois
, represented in the General Assembly, That the several acts passed by this, the twenty-sixth general assem- Municipal ofbly, incorporating or amending the acts of incorporation of cities, towns and villages in the state of Illinois, which provide for the election of municipal officers, including the town or city justices of the peace or police magistrates on the days therein specified, be and the same are hereby so amended that the time for the election of officers be and the same is hereby extended to the first Tuesday in June next, and Time extended. thereafter the elections shall be held at the times in said acts provided : Provided, however, that this act shall only apply to such cities, towns and villages where the elections Application of are to take place on a day where the registry of votes has act. not been made as provided by law, or where the notice of sach elections required in said acts can not be given for the want of time.
$ 2. This shall be deemed a public act, and be in force froin and after its passage.
APPROVED April 15, 1869.
In force April 19, 1869.
AN ACT to legalize the acts of municipal and other corporations, during
the rrcess of the 26th general assembly of the state of Illinois.
SEOTION 1. Be it enacted by the People of the State of Illinois, represented in the General Assembly, That the elections, subscriptions and votes of any township, or other municipal corporation, or any railroad or other corporation, held or made during the recess of the 26th general assembly of the state of Illinois, by authority of any law or any act passed by said general assembly, be and they are hereby legalized and declared to be valid. § 2.
This act shall be in force from and after its passage.
APPROVED April 19, 1869.
In force March AN ACT in relation to the criminal code of this state, and amendments 31, 1869.
SECTION 1. Be it enacted by the People of the State of Ilinois, represented in the General Assembly, That every person who shall felonionsly steal or attempt to steal from the person of another, his or her property, shall be deemed guilty of a felony and on conviction thereof shall be punished by confinement in the county jail or penitentiary for a period of not more than five years.
$ 2. That section sixty (60) of the criminal code of this state, concerning the crime of burglary, be and the same is hereby amended so as to include every building not mentioned in said section sixty.
$ 3. Every person who shall fight in this state, or agree in this state to fight in or out of this state, or shall train in this state to tight, or shall go or shall attempt to go out of this state to fight in any other state, place or territory, or shall, in any way or manner, aid, abet or assist any other person to fight or attempt to fight, either in or out of this state, what is commonly called a prize fight, every such person shall be deemed guilty of a high misdemeanor, and, on conviction thereof, shall be punished by confinement in the county jail for any period of not less than six months nor more than one year, and be fined not less than five hundred dollars nor more than one thousand dollars.