Page:Acts, Resolutions and Memorials, Adopted by the First Legislative Assembly of the Territory of Arizona.djvu/61

Rh he shall be liable for double the amount of toll legally due from him, to be collected on complaint in the name of the company, in any court of competent jurisdiction; and the wagon or wagons, and the animal or animals, owned by him or in his charge, shall be liable to be taken on attachment, or execution, to satisfy the judgment which may be obtained.

That the capital stock of said company shall consist of fifty thousand dollars ($50,000), which, at any legal meeting of the stockholders, may be increased to one hundred thousand dollars ($100,000), to be divided into shares of fifty ($50) dollars each, and each of said shares shall be considered as personal property, and may be bought and sold, assigned or transferred, in such manner and in such place as may be prescribed by the stockholders, or a majority of them, in their rules or regulations.

That the officers of said company shall consist of a president, secretary and treasurer, and three directors, who shall be stockholders of said company, and shall be elected by the stockholders of said company, or by a majority of them legally assembled, and shall hold their offices for one year from and after their election, and until their successors shall be duly elected; and such officers may be removed from office whenever a majority of stockholders present at any legal meeting called for that purpose, shall determine that they have been guilty of mismanagement or fraud in the discharge of their duties.

Each share of the capital stock of this company shall be entitled to one vote at all meetings of the stockholders, and may be represented and voted in the absence of the true owner, by any one holding a written proxy from the party in whose name the stock stands on the books of the company, or who shall appear to be the legal representative of such owner.

The meeting to organize said company under this act, shall be held at Prescott, on or before the first Monday of January next, and a majority of the persons named therein shall constitute a quorum for the transaction of business, and they may make by-laws, and transact any other business necessary to organize this corporation.

That said company may erect and maintain toll-gates at necessary points, and that the rates of toll contained in section two shall be plainly printed, and posted in a conspicuous place at each toll-gate on the road, and be maintained at all times in a legible condition.

That all persons exhibiting a certificate from any commissioned officer of the Territory that they are in the militia service of the Territory, shall be exempt from the payment of tolls on the said road.

This act shall take effect and be in force from and after its passage. November 9, 1864.