§ 990. Industrial Co-operative and Mutual Benefit Societies.— “The trustees of such company"-corporation for industrial or productive purposes-"shall have power to make such prudential by-laws as they shall deem proper for the management and disposition of the stock and business affairs of such company, not inconsistent with the laws of the United States and of this territory, and prescribing the duties of officers, artificers, and servants that may be employed; for the appointment of all officers, and for carrying on all kinds of business within the objects and purposes of such company."1 "The corporators, or trustees or directors, as the case may be, of any corporation organized under this act"-co-operative and working-men's unions -"shall have power to make such by-laws, not inconsistent with the laws of this State, as may be deemed necessary for the government of its officers and conducting of its affairs, and the same to alter and amend at pleasure.' "2 · "A majority of the trustees" — of co-operative and mutual benefit associations" duly convened according to the by-laws, shall constitute a quorum for the transaction of busiThe trustees shall adopt by-laws and regulations not inconsistent with the articles of association or the provisions of this act." s ness. "The directors § 991. Inland Navigation Companies. of inland navigation companies · "shall have power to make such reasonable by-laws, not inconsistent with the laws of this State or of the United States, as they shall deem proper for the management and disposition of the property, affairs and concerns of such company; for prescribing the power and duties of the officers of such company; for the appointment of such officers, and for the transaction and carrying on all kinds of business within the objects and purposes of such corporations." 4 "The officers so elected"—of steam-packet companies" shall provide a code of by-laws for the government of the corporation; which by-laws, when approved by a majority of the stockholders, shall become law and binding until altered or amended by a vote of a meeting of the stockholders." 5 § 992. Insurance Companies. "The directors of any such company" – of insurance companies — " shall have power to appoint a ; they may ordain and establish such by-laws and secretary 1 Comp. Stat. Mont. (1888), p. 727, 454. 3 Rev. Stat. N. Y. (Banks & Bros. 8th ed.), p. 2046, § 6. 3 Acts Mich. 1887, p. 195, § 10. 8th ed.), p. 1855, § 7. 5 Rev. Stat. Ind. (1888), § 4137. 1 to them necessary for regulating and conducting the business of the company." "The corporators, or the trustees or directors, as the case may be, of any company organized under the provisions of this act "an act to provide for the organization of marine insurance companies "shall have power to make such by-laws, not inconsistent with the constitution or laws of this State, as may be deemed necessary for the government of its officers and the conduct of its affairs."' 2 "The corporators, trustees, directors, members or representatives, as the case may be, of any association, corporation or society organized under this act" an act to provide for the organization of co-operative or assessment life and causualty insurance.companies "shall have power to make such by-laws, not inconsistent with the constitution or laws of this State, or of the United States, as may be deemed necessary for the government of its officers and conduct of its affairs, and the same, when necessary, to alter and amend." 3 "The corporators, or the trustees, or directors, as the case may be, of any company ·life, health and casualty insurance companies organized under this act shall have power to adopt a seal, and to make such by-laws, not inconsistent with this act or the constitution and laws of this State, as may be deemed necessary for the management of its affairs." 4 A mutual fire insurance corporation," may make by-laws and regulations for the government of its board of directors and other officers and agents, and the management and regulation of its property and business. All by-laws shall be adopted by the directors of the company in a general meeting assembled, and shall be void if not consistent with the laws of this State." 5 § 993. Library Companies. "The trustees" of any library corporation"shall establish by-laws and rules for the regulation of such library."6 § 994. Manufacturing Companies.-"The trustees of such company" manufacturing company" for the time being, shall have power to make and prescribe such by-laws, rules and regulations as they shall deem proper respecting the management and disposition of the stock, property and estate of such company, the duties of the officers, artificers and servants by them to be employed, the election of trustees, and all such matters as appertain to the concerns of the said 1 Rev. Stat. Iowa, 1888, § 1692. 23 Rev. Stat. N. Y. (Banks & Brothers 8th ed.), p. 1631, § 12. 33 Rev. Stat. N. Y. (Banks & Bros. 8th ed.), p. 1704, § 4. 43 Rev. Stat. N. Y. (Banks & Bros. 8th ed.), p. 1667, § 10. Rev. Stat. W. Va. (1879), vol. 1, p. 328, §§ 1, 5. 6 Rev. Stat. Ind. (1888), § 3786. company, to appoint such and so many officers, clerks and servants for carrying on the business of the said company, and with such wages as to them shall seem reasonable: Provided, That such by-laws be not inconsistent with the constitution and laws of this State or of the United States." "1 § 995. Mining and Smelting Companies. —A mining and smelting corporation "may prescribe by-laws for the management of its business and affairs by a board of directors, trustees, committee or other officers or agents, and provide for their election or appointments, and prescribe their duties, and may require bond from any officer for the faithful discharge of duties, and may by such by-laws prescribe in respect to all matters appertaining to the business and affairs of said corporation, not inconsistent with the provisions of this act, nor the constitution or laws of this State. Such by-laws may be made, altered or amended by the directors, trustees or committee clothed with the general management of the affairs of such corporation; but the stockholders, at any regular meeting, may repeal or alter any by-law, or adopt new ones, and such action shall remain binding until repealed or changed by the stockholders themselves at some regular meeting." 2 § 996. Navigation Improvement Companies.- Corporations for the improvement of the navigation of navigable rivers - called slack water navigation companies, have by "the directors of such company power to make by-laws for the management of the stock, property and business affairs of the company, not inconsistent with the laws of this State, and to prescribe the duties of officers and all other persons that may be employed by them, and for the appointment of the officers for carrying on all business within the object and purpose of the com"The officers so elected" pany." 3 of corporations for building dams across streams so as to afford slack-water navigation — "shall provide a code of by-laws for the government of the corporation, regulating the use and navigation of such part of said watercourse as lies within the limits of said corporation, and the tariff of tolls and water rent on the same; which by-laws, when approved by a majority of the stockholders, shall become law and binding until altered or amended by a vote of an annual or called meeting of the stockholders."' 4 13 Rev. Stat. N. Y. (Banks & Bros. 8th ed.), p. 1949, § 6. 2 Rev. Stat. Minn. (1881), p. 400, § 148. 3 Rev. Stat. Ind. (1888), § 4106. 4 Rev. Stat. Ind. (1888), § 4123. § 997. Plank-Road and Turnpike Companies.—“The president and directors" of plank road companies-"shall have power to make and prescribe such by-laws, rules and regulations as they may deem proper, not inconsistent with the constitution and laws of the United States or of this State." 1 "The president and directors"-of turnpike companies shall have power and it shall be their duty. 2nd. To make such by-laws, rules and regulations as in their judgment the affairs of the corporation shall require." 2 § 998. Railroad Companies.-- "The directors of a railroad corporation shall have the power to make by-laws for the management and disposition of the stock, property and business affairs of such company not inconsistent with the laws of this State, and prescribing the duties of officers, artificers and servants that may be employed, and for the appointment of all the officers for carrying on all the business within the object and purposes of such company.” 3 "The board of directors" of railroad companies· "shall have power to make, and from time to time to amend the by-laws of the company, and may, by such by-laws provide that less than a majority of the board shall constitute a quorum, and may delegate any and all of the powers of the board of directors to an executive committee during the interval between the meetings of the board." 4 "The directors of any railroad corporation shall have power to make such by-laws as they may think proper, and alter the same from time to time, for the transfer of the stock, and the management of the property and business of the company, of every description whatsoever, within the objects and purposes of such company, and for the prescribing the duties of officers, artificers, and employés of said company, and for the appointment of all officers, and all else that by them may be deemed needful and proper, within the scope and power of said company; provided, that such by-laws shall be approved by a majority of the stockholders and shall not be inconsistent or in conflict with the laws of this State, or with the articles of association." 5 "The directors of such company" -- street railway companies · --"shall have power to make by-laws for the management and disposition of the stock, property and business affairs of the company not inconsistent with the laws of this State; to prescribe the duties of officers, artificers, and servants that may be employed, for the appointment of all officers for 1 How. Mich. Stat. 1882, § 3605. 2 Rev. Stat. N. Y. (Banks & Bros. 8th ed.), p. 1465, § 14. Rev. Stat. Ind. (1888), § 3897. 43 Rev. Stat. N. Y. (Banks & Bros. 8th ed.), p. 1768, § 4. 5 Gen. Stat. Nev. (1885), § 848. carrying on all business within the objects and purposes of such company; and for regulating the running-time, fare, etc., of said road or roads." 1 § 999. Religious Corporations. "The board of trustees of any church or religious corporation" is empowered to make such by-laws and rules as are necessary to carry out the objects of the trust." 2 "The trustees of such corpo § 1000. Safe Deposit Companies. rations -safe-keeping companies "shall have power to make such by-laws as they shall deem proper for the management and disposition of the stock, property and business affairs of such company, not inconsistent with the laws of this State and of the United States, and prescribing the duties of officers and servants that may be employed, the manner of appointment and election of all officers, and for carrying on all kinds of business within the objects and purposes of said corporation." 3 § 1001. Savings Banks. "The board ". of incorporated savings banks," may make by-laws and regulations for managing the property of the institution, conducting its business and paying its expenses; subject always to the power of the members in general meeting to repeal or modify such by-laws and regulations, and make others."' 4 "The board of trustees" · of saving banks, trust deposits and security associations, incorporated-"shall have power from time to time to make, constitute, ordain and establish such by-laws, rules and regulations, as they shall deem proper for the election of their officers, and the appointment of agents, servants, and employés ; for prescribing their respective functions, and the mode and manner of discharging the same; for the regulation of time of meeting of the officers and trustees; and generally for transacting, managing, and discharging the affairs of the association: Provided such by-laws, rules, and regulations, are not repugnant to this act, to the laws of this territory, or the constitution and laws of the United States. "The board of directors of any such corporation" — savings banks "shall have power, from time to time, to make such by-laws, rules and regulations as they may think proper, for the election of officers 1 Rev. Stat. Ind. (1888), § 4151. 2 Rev. Stat. Ind. (1888), § 3623. 2 Rev. Stat. N. Y. (Bank & Bros. 8th ed.), p. 1605, § 7. 5 * Code Va. (1887), § 1177. 5 Comp. Stat. Mont. (1888), p. 763, § 557. |