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to assume another corporate name. [Thus amended by L. 1876, ch. 280.]

45. Petition, and notice of application.

§ 2. Such application shall be by petition, which shall set forth the grounds of the application, and shall be verified by the chief officer of the corporation. Notice of such application shall be published for six weeks in the state paper and in a newspaper of every county in which such corporation shall have a business office, or, if it have no business office, of the county in which its principal corporate property is situated, such newspaper to be one of those designated to publish the session laws; and it must appear to the satisfaction of the court that such notice has been so published, and that the application is made in pursuance of a resolution of the directors, trustees or other managers of the corporation applying.

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46. Power of court to order a change of name. §3. If the court to which such application is made shall be satisfied, by such petition so verified, or by other evidence, that there is no reasonable objection to such corporation changing its name, it may make an order authorizing it to assume the proposed new corporate name. copy of said order shall be filed in the office of the secretary of state, and with the county clerk of every county in which said corporation has a business office, or, if it have no business office, of the county in which its principal corporate property is situated, and be published at least once in each week for four weeks in some newspaper in every county where such corporation has a business office, or if it have no business office in the county in which its principal corporate property is situated, such newspaper to be designated by the court.

47. Change of name, when to take effect.

§ 4. When the requirements of this act shall have been complied with, the corporation applying for a change of name may, from and after the day specified in the order of the court, be known by and use the new corporate name designated in the order of the court.

48. Change not to affect pending suits, rights, or liabilities.

§ 5. No suit or legal proceeding commenced by or in behalf of or against any corporation shall abate by reason of a change of its corporate name, made as herein authorized. Such change of the corporate name of the said corporation or company shall in no way affect the rights or liabilities of said corporation or company. All obligations of said company or corporation may be enforced against said corporation or company in the changed name, and all actions and proceedings commenced and pending against said corporation or company at the time said corporate name is changed shall be continued in the name in which said action or proceedings were commenced, or the court may, on the application of either party, allow the action or proceeding to be continued in the corporate name to which said corporation or company has been changed.

49. Capital stock, how increased; amount limited.

(L. 1872, Chap. 611.)

SECTION 1. An incorporation, incorporated company, society or association formed under the laws of this state, excepting banks, banking associations, trust companies, life, health, accident, marine and fire insurance companies, railroad and navigation and gas companies, may increase its capital stock, as provided by section twentieth of "An act to authorize the formation of corporations for manufacturing, mining, mechanical or chemical pur

poses," passed February seventeenth, eighteen hundred and forty-eight; provided that this act shall not apply to corporations created by special act of incorporation, the capital stock of which originally exceeded two hundred thousand dollars, and that such increase shall not exceed in the aggregate the amount of capital stock specified in the said act of incorporation, and any such corporation the capital of which shall be increased under the provisions of this act, and the stockholders thereof shall be subject to all the liabilities as regards such additional capital as is provided in the original act or charter in relation to its capital.

50. When it may increase capital stock.

(L. 1848, Chap. 40, passed February 17th, entitled "An Act to authorize the formation of corporations for manufacturing, mining, mechanical, or chemical purposes.")

SECTION 20. Any corporation or company heretofore formed either by special act or under the general law, and now existing for any manufacturing, mining, mechanical or chemical purposes, or any company that may be formed under 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 purposes of incorporation, and may also extend its business to any other manufacturing, mining, mechanical or chemical business, subject to the provisions and liabilities of this act. 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 amount 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; and any existing company, heretofore formed under the general law, or any special act, may come under and avail itself of the privileges and

provisions of this act, by complying with the following provisions, and thereupon such company, its officers and stockholders, shall be subect to all the restrictions, duties and lrabilities of this act.

51. Notice to be given.

SECTION 21. Whenever any company shall desire to call a meeting of the stockholders, for the purpose of availing itself of the privileges and provisions of this act, or for increasing or diminishing the amount of its capital stock, or for extending or changing its business, it shall be the duty of the trustees to publish a notice signed by at least a majority of them in a news paper in the county, if any shall be published therein, at least three successive weeks, and to deposit a written or printed copy thereof in the post-office, addressed to each stockholder at his usual place of residence, at least three weeks previous to the day fixed upon for holding such meeting; specifying the object of the meeting; specifying the object of the meeting, the time and place, and the amount to which it shall be proposed to increase or diminish the capital, and the business to which the compay nshall be extended or changed; and a vote of at least two-thirds of all the shares of stock shall be necessary to an increase or diminution of the amount of its capital stock, or tue extension or coange of business as aforsaid, or to enable a company to avail itself of the provisions of this act.

52. Meeting, how organized and conducted. Filing certificate,

SECTION 22. If at any place and time specified in the notice provided in the preceding section of this act, stockholders shall appera in person or by proxy, in number representing not less than two-thirds of all the shares of stock of the corporation, they shall organize by choosing one of the trustees chairman of the meeting, and also

a suitable person for secretary, and proceed to a vote of those present, in person or by proxy, and if on canvassing the vote it shall appear that a sufficient number of votes has been given in favor of increasing or diminishing the amount of capital, or of extending or changing its business as aforsaid, or of availing itself of the privileges and provisions of this act, a certificate of the proceedings, showing a compliance with the provisions of this act, the amount of capital actually paid in, the business to which it is extended or changed, the whole amount of debts and liabilities of the company, and the amount to which the capital stock shall be increased or diminished shall be made out, signed and verified by the affidavit of the chairman, and be countersigned by the secretary, and such certificate shall be acknowledged by the chairman, and filed as required by the first section of this act, and when so filed, the capital stock of such corporation shall be increased or diminished to the amount specified in such certificate, and the business extended or changed a aforesaid, and the company shall be entitled to the privileges and provisions, and be subject to the liabilities of this act, as the case may be.

53. May reduce number of trustees. Proviso.

(L. 1881, Chap. 599.)

SECTION 1. Any joint stock company or corporation, with a capital of less than one hundred thousand dollars, organized under a special act of the legislature, having more than seven trustees, may reduce the number of its trustees to not less than seven, to be elected annually at the time appointed in its articles of incorporation; provided that a majority of the stockholders of such joint stock company or corporation shall so determine, at a meeting to be held at the usual place of meeting of the trustees of such joint stock company or corporation, on thirty days' previous notice, in writing, to each stock

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