Page:United States Statutes at Large Volume 32 Part 1.djvu/1014

 rirrr-ssvmrrn coivonsss. sm. 11. ou. ms. woe. 949 meetings of the directors shall be called by a notice signed by one or more persons named as directors in the certificate, or their successors, setting forth the time and lace of the meeting, which notice shall be delivered personally to each director if he resides in Alaska, and published at least twenty days in some newspaper of general circulation at or nearest the principal place of business of the corporation and in the district of Alaska. · ‘ ‘ Sec. 10. That the stock of the corporation shall be deemed personal S*<>°l¤· estate, and shall be transferable in such manner as shall be prescribed by the articles of incorporation or the by-laws of the corporation; but no transfer shall be valid except between the parties thereto until the same shall have been entered upon the books of the corporation so as to show the names of the arties, by and to whom transferred, the numbers and des` nation of the shares, and the date of transfer. "The stockholders of any corporation formed under this chapter P•*Y*¤°¤**°*· may, in the by-laws or articles of the corporation, prescribe the times, manner, and amounts in which payments of the stock subscribed by them, respectively, shall be made; but in case the same shall not be so prescribe, the directors shall have the power to demand and callin rom the stockholders the sum or sums unpaid of the stock subscribed for or taken at such time, and in such manner, payments or installments, as they may deem proper. In all cases sixty da s’ notice of each assessment shall be given each stockholder personally or by registered letter if his post—office address is known to any officer of the corporation, and by publication weekly for eight consecutive weeks in some news aper of general circulation publisihed at or nearest to the principal place of business of the corporation in the district of Alaska. If, after such notice has been given, any stockholder shall make default in the payment of assessments upon the shares held by him, so many of said shares may be sold as wil be necessary for the payment of the assessments upon all shares held by him, her, or them at that time. The sale of such shares shall be made as prescribed in the articles or by-laws of the corporation, but shall in no case be made at the office of the corporation. No sale shall be made except at public auction, to the highest bidder, after notice given as in the case of notices of assessment; and at such sale the person who shall pay the assessment so due, together with the expenses of advertising and sale, for the smallest number of shares or portion of a share, as the case may be, shall be deemed the highest bidder: Provideel, That after the delivery of the {"__j'cf;Q;mm certificates of stock to the stockholders no call shall be made at any °`` one time for more than ten per centum of the par value of the stock, and that calls shall not be made oftener than once in thirty days, unless otherwise provided in the articles of incorporation. " Sec. 11. That whenever any stock is held by a person as executor, €_,f**{';*[§*0;]?* ****5***** administrator, guardian, trustee, or in any other such representative " ` capacity, he shall represent such stock at all meetings of the corporation, and may vote accordingly as a stockholder in person or by roxv. P °`Sec. 12. That any stockholder mav pledge his stock by delivery S*°°**P*°d¤°*’· of the certificate or other evidence of his interest, but may nevertheless represent the same at all meetings and vote as a stockholder. dividend in new or additional stock, or to make any dividend, except from the net profits arising from the business of the corporation, or to divide, withdraw, or in any way pay to the stockholders, or any of them, any part of the capital stock of the corporation, or to reduce the capital stock of the corporation unless in the manner prescribed in this chapter or in the articles or amended articles of incorporation or by- laws; and in case of any violation of the provisions of this section the directors under whose administration the same may have happened,
 * 512:0. 13. That it shall not be lawful for the directors to make any ,,fj;*""**" **“***°‘