to be evidence.

Copy Certificate said certificate; and a copy of said certificate, duly certified by the clerk of the county where the same is filed and recorded, or by the Secretary of State, may be used as evidence in all Courts and places, for and against any such Company.

Powers of Corapany.

Assent of Board

of Supervisors to

before construc

Bridge.

(1704.) SEC. 4. Such Company shall have power to purchase, receive, hold, and convey such real estate, and such only, as may be necessary for the erection of such bridge and the necessary toll houses, and for effectually carrying on the operations of such association, and may appoint such Directors, officers and agent, and make such prudential rules, regulations and by-laws as may be necessary in the transaction of their business, not inconsistent with the laws of this State or of the United States.

(1705.) SEC. 5. No Company formed or created under this be obtained act shall construct any bridge across any stream until they shall sion of any have obtained the assent of the Board of Supervisors of the county in which the same is to be constructed; and if such proposed bridge is to be constructed partly in two counties, the assent of the Board of Supervisors in each county shall be first obtained as shall be provided by law.

Supervisors to fix rates of Toll.

pany for taking Wegal Toll.

(1706.) SEC. 6. The Board of Supervisors of the county in which [any] such bridge is to be constructed, shall, at the time of granting such assent to the construction of such bridge, or Penalty on Com previous to any toll being taken for passing the same, fix and establish the rates of toll to be paid for passing such bridge; and if such bridge shall be situated in more than one county, the Board of Supervisors of each county shall, at the request of the Directors of such Company, and at the expense of the Company, meet on some day to be agreed upon, at the site of such bridge, and shall act as one board, and may appoint their own Clerk and Chairman, in determining such rates of toll; and in either case such rates of toll shall be certified by such board, and a printed copy of such certificate shall be at all times kept up in some conspicuous place on such bridge. And if such Company, or any gate keeper in their employ, shall at any time take or receive any greater sum for toll than shall have been so fixed, such Company shall be liable to a penalty of ten dollars for every such offence, with costs of Tolls to remain suit, to be recovered by the person aggrieved. And after said tolls shall have been so fixed, they shall remain fixed for the term of ten years, when they may be again fixed by the Minimum of Supervisors as aforesaid. But such toll shall not at any time be reduced so that the sum shall amount to less than fifteen

fixed ten years.

Tolls.

if Bridge out of

ВО

per cent. a year upon the cost of the bridge. If any such Not to be taken bridge should at any time be out of repair, so as to render the repair. passage of teams and vehicles dangerous [or] inconvenient, no tolls shall be taken or received for passing over the same, till the same shall be repaired and put in good order. For penalty for every violation of this provision, the Company shall forfeit and pay to the party aggrieved a penalty of ten dollars for such violation, together with all damages that may be sustained by reason of such bridge not being kept in repair. (1707.) SEC. 7. Any person who shall unlawfully or inten- Penalty for in-> tionally injure or destroy any bridge, piers, or abutments, or the to Bridge. materials, appurtenances, or property belonging thereto, shall, on conviction thereof, be deemed guilty of a misdemeanor, and be punished by a fine not exceeding five hundred dollars, or imprisonment in the county jail not exceeding one year, or both, at the discretion of the Court before which conviction. shall be had.

tentional injury.

ty of Stock holders.

(1708.) SEC. 8. The stockholders of every Company organized Individual liabil in pursuance of this act, shall be jointly and severally personally liable for the payment of all debts and demands against such association, which shall be contracted, or which shall be, or shall become due during the time of their holding such stock, for any labor or services done or performed for such Company; but no stockholder shall be proceeded against for the collection of any debt or demand against such Company, until judgment thereon shall have been obtained against the association, and an execution on such judgment shall have been returned unsatisfied in whole or in part, or unless such association shall be dissolved.

make Annual

(1709.) SEc. 9. Every such Corporation shall, annually, Corporation to within ten days from the first of January, make a report, which Report. shall state the amount of capital and the amount actually paid in, the investment of any portion of the earnings of such Company in its business, and the whole amount of money which has at any time been borrowed, and then remaining unpaid; and the amount of tolls received for passing such bridge for the year then last past; which report shall be signed by the President and a majority of the Directors, and shall be verified by the oath of the President or Secretary of such corporation, and filed in the office of the clerk of the county in which any portion of such bridge is situated. And if any such Company Liability for neg shall fail so to do, all the Directors thereof shall be jointly and'

lect.

Assessment for
Taxation.

severally liable for all the debts of the Company then existing, and that shall be contracted before such report shall be made. (1710.) SEC. 10. The capital stock of such Company shall not be taxed as such; but the bridge, with its appurtenances, gates and toll houses, shall be assessed at its true cash value to the Company by their corporate name, as personal property No Toll to be in the township in which the toll shall be received; and in case such tax shall not be paid before the collecting officer shall be bound to make return of the same, no toll shall be taken after such default of payment, until the same, with Forfeiture for interest at twenty-five per cent., shall have been duly paid. For any violation of this provision, any such Company shall forfeit its corporate franchises.

taken while Tax

unpaid.

violation of this Provision.

Stock to be

deemed Personal

transferable.

(1711.) SEC. 11. The stock of any such corporation shall be Estate, and how deemed personal estate, and shall be transferable in such manner as shall be prescribed by the by-laws of the Company; but no transfer shall be valid for any purpose whatever, except to render the person to whom it shall be transferred liable for the debts of such Company, according to the provisions of this act, until the same shall have been entered upon the books of the corporation, so as to show the names of the parties by, and to whom transferred, the number and designation of the shares, and the date of the transfer; and no shares shall be transferable until all previous calls of assessment thereon shall have been fully paid in, or shall have been declared forfeited for the non-payment of calls Restriction upon thereon. It shall not be lawful for any such corporation to use any of their funds in the purchase of, or in any manner to purchase stock in, any other corporation.

nse of corporate funds.

Legal process; how served upon Company.

Books to be kept.

(1712.) SEC. 12. Service of any legal process against any such corporation may be made on the President or Secretary, or if neither of them can be found in the county, then upon any one of the Directors of such Company; and in case none of the above named officers can be found in the county, then such service may be made by leaving a copy of such process with the person receiving tolls at such bridge.

(1713.) SEC. 13. It shall be the duty of the Directors of every such corporation or Company to cause books to be kept by the Treasurer, Secretary, or other officers thereof, containing the names of all persons, alphabetically arranged, who are, or shall within six years have been stockholders of such Company, and showing their places of residence, the number of

shares of stock held by them respectively, and the time when they respectively became owners of such shares, and the amount of stock actually paid in; which book shall be kept open in the office of the receiver of tolls at the bridge, for the inspection of stockholders and creditors of such Company and their personal representatives; and any and every such person shall have a right to make extracts from such book. Such books shall be presumptive evidence of the facts therein stated in favor of the plaintiff, in any suit or proceeding against such Company, or against any one or more stockholders. Every officer or agent of such Company, who shall Liability of off. fail or neglect to make any proper [entry] in any such book, with respect to or shall neglect or refuse to exhibit the same, or allow the same to be inspected and extracts to be taken therefrom as provided by this section, shall be deemed guilty of a misdemeanor, and the Company shall forfeit and pay to the party injured a penalty of fifty dollars for every such neglect or refusal, or for neglecting to keep such books open for inspection as aforesaid.

cers and Agents

books.

Supervisors when

pair.

(1714.) SEC. 14. If any person shall at any time make com- Duty of Board of plaint, in writing, to any Board of Supervisors, and deliver the Bridge out of resame to the Clerk of such Board, in any county in which any such bridge or any part thereof is situated, that such bridge is out of repair, such board or the clerk thereof shall cause notice to be given to the gate keeper or receiver of tolls of the time at which said board will hear such complaint; and at the time specified in such notice, unless the board shall be satisfied that such bridge has been since repaired, they shall proceed to hear the evidence that may be produced touching the matter aforesaid; and they may order such bridge to be repaired within such reasonable time as they may think proper; and shall cause notice thereof to be given to some Director, or the receiver of tolls; and if the same shall not be repaired within the time so fixed, or within ten days thereafter, such board may declare the [said] bridge forfeited to the township in which the same is situated; and the said bridge, and all its appurtenances, shall thereupon become vested in such township as a free bridge.

amended.

(1715.) SEC. 15. The Legislature may at any time alter or Act may bo amend this act, and all Companies formed under this act Company subject shall at all times be subject to all general laws in force relative

to bridge Companies.

SEC. 16. This act shall take effect immediately.

to general Laws.

CHAPTER LVI.

OF BUILDING AND LEASING COMPANIES.

SECTION 1716. Companies may be formed under the Act for Mining Corporations.

Companies may

be formed under

ing Corporations.

1353, p. 53.

An Act to Authorize the Formation of Corporations for Building and Leasing Houses and other

Tenements.

[Approved February 12, 1855. Took effect May 16, 1855. Laws of 1855, p. 285.]

(1716.) SECTION 1. The People of the State of Michigan enact, the Act for Min That corporations for the purpose of building and leasing houses and other tenements may be formed under the provisions of an act entitled, "An Act to authorize the formation of Corporations for Mining, Smelting, or manufacturing Iron, Copper, Mineral Coal, Silver, or other Ores or Minerals, and for other manufacturing purposes," approved Februry 5, A. D. 1853, and shall have and possess all the rights, and be subject to all the liabilities, provided in said act and the acts amendatory thereof. (a)

(a) See Chapter LXIII