tion as aforesaid, to the extent of three times the amount paid in on the stock standing in the name of such director in any such company.

LIENS ON STOCK, HOW Enforced.

er of sale of

SEC. 25. Any corporation organized under this act, which has a Notice to delinlien upon the stock of any stockholder therein as provided by the quent stockholdseventeenth section, may give notice to such stockholder that un- stock. less he shall pay his indebtedness to said corporation within three months from the time of giving such notice, then such corporation will proceed to sell and transfer the stock of such stockholder in said corporation; and upon default of payment said corporation may sell the stock of such indebted stockholder as hereafter provided, and any such corporation may prescribe by its by-laws the manner of giving the notice required by this section.

SEC. 26. Such corporation may at any time within six months Publication of after it shall have given the notice required by the preceding sec- notice of sale. tion to such indebted stockholder of its intention to sell such stock, and the three months' notice shall have expired, advertise in one or more newspapers published in the county where such corporation is located, and if there is no newspaper published in said county, then in a newspaper published in an adjoining county, giving at least three weeks' notice of the time and place when and where such stock will be sold; and at the time and place of sale, shall state the amount due from such stockholder to such corporation, and may then proceed to sell for cash, at public auction, to sale. the highest bidder therefor, so much of the stock of such indebted stockholder as shall pay in full the indebtedness of such stockholder to such corporation, together with the necessary costs of sale; and if the sale of the entire stock of such indebted stock- Proceedings holder shall not be sufficient to pay in full the claim of said cor- stock not suffiporation on said stock, such corporation shall credit the amount cient to pay received for such stock, less the costs of sale, to said indebted stockholder, and may proceed to collect the remainder of their debt by any proper action for that purpose.

when entire

indebtedness.

chasers of stock.

SEC. 27. Whenever the purchasers of said stock shall have com- New certificates plied with the conditions of said sale, the corporation shall issue issued to purnew certificates of stock to such purchasers, or to their order, and shall cancel upon the books of the corporation the certificates of such indebted stockholders, and the new certificates so issued shall entitle the holders thereof to all the privileges, rights, and interests of a stockholder in such corporation.

curity to third

SEC. 28. Whenever any stockholder in any such corporation shall sale of stock have made a transfer or assignment of his stock as security for his assigned and indebtedness to a third party, and afterwards shall become a debtor party. to such corporation, such corporation may sell the equity of redemption of such stock, in the same manner as is provided for the sale of stock on which it has a lien, and shall credit the amount received from such sale to such indebted stockholder. Such cor- Statement to poration may require the party holding a transfer or assignment amount for of such stock, to give a statement to the treasurer of such corpo- pledged.

treasurer of

which stock is

Forfeiture for not making.

Certain rights not affected by provisions of preceding sections.

Liability of

labor performed,

ment of the

same.

ration under oath, of the amount for which said stock was pledged; and if said party shall not give such a statement at or before the time such sale is to take place, he shall forfeit all claim and lien on such stock or any part thereof, and such corporation may sell the same as herein provided.

SEC. 29. Nothing contained in the four preceding sections shall affect any lien or right acquired by any other party by virtue of any attachment or levy of execution upon the stock of any stockholder in any such corporation.

GENERAL PROVISIONS.

SEC. 30. The stockholders of all corporations organized under stockholders for this act shall be individually liable for all labor performed for such and the enforce- corporations, which said liability may be enforced against any stockholder by action founded on this statute, at any time after an execution shall be returned unsatisfied, in whole or in part, against the corporation, or at any time after an adjudication in bankruptcy against said corporation, and the amount due on such execution shall be prima facie evidence of the amount recoverable, with costs, against any such stockholder; and if any stockholder shall be compelled by any such action to pay the debts of any creditor, or any part thereof, he shall have the right to call upon all the responsible stockholders to contribute their equal part of the sum so paid by him as aforesaid, and may sue them, jointly or severally, or any number of them, and recover in such action the amount due from the stockholder or stockholders so sued.

Service of legal process, on whom made.

Taxation.

Proviso.

Certain articles exempt from

ention.

SEC. 31. Service of any legal process against any corporation formed under this act may be made on the president, secretary, or treasurer, or if neither of them can be found in the county in which, by their articles of association, they are to do business, then such service may be made by posting a true copy thereof on some conspicuous place at the business office of the company in said county.

SEC. 32. All corporations formed under this act shall be liable to be assessed for all real and personal estate held by them in this State, at its true value, and shall pay thereon a tax for township, village, city, county, and State purposes, the same as other real and personal estate; and such tax shall be assessed, collected, and paid in the same manner as other taxes on real and personal estate are required to be assessed, collected, and paid: Provided, Nothing herein contained shall authorize the taxing of the capital stock of such corporation as such capital stock.

SEC. 33. That all articles of machinery, materials for manufacseizure by exe- turing, or manufactured articles belonging to any such company, shall be free from seizure by execution or distress, for any debts or claims for rents or services, in whose hands soever they may be, except such execution or claim be against such company.

Act subject to

Chap. 130, C. L.

SEC. 34. Companies formed under this act shall be subject to the provisions of chapter one hundred and thirty of the compiled laws of eighteen hundred and seventy-one, so far as applicable.

SEC. 35. Every manufacturing corporation organized under the

tions may dis

ize under this

provisions of chapter ninety-five of the compiled laws of eighteen Certain corporahundred and seventy-one, may at any time, by a vote of a majority solve and organin interest of its stockholders, or by an agreement in writing act. signed by a majority in interest of its stockholders, dissolve its organization, and organize under this act, by filing with the Secretary of State and county clerk of the county where the business of said corporation is transacted, a certified copy of the record of the vote of said stockholders, or of the agreement of said stockholders; which said copies shall be recorded as provided in the tenth section of this act; and after perfecting its organization according to the provisions of this section, it shall be entitled to all the rights, and privileges, and immunities contained in this act, and the property, effects, and rights of action of the former corporation shall pass to, and be vested in, the corporation so organized under this act; and the debts, liabilities, and demands existing against the former corporation so dissolved, shall be and remain debts, liabilities, and demands against the newly organized corporation, and may be prosecuted against it in like manner, and to the like effect, as they might have been against the corporation so dissolved; and all conveyances and grants of real or personal property heretofore made to any corporation so dissolved, are hereby confirmed and declared as effectual and valid to all intents and purposes to the corporation so organized under this act, as if made under the [present] provisions of this act. Approved May 1, 1875.

[ No. 188. ]

AN ACT to regulate the catching of fish in certain waters of this

State.

with net, etc., in

SECTION 1. The People of the State of Michigan enact, That Limit for fishing no person shall extend any pound, trap, stake, or set-net of any Lake Erie. kind, or any other device for the purpose of taking fish in Lake Erie (within the jurisdiction of this State), further than one mile in a easterly direction measured from a line running from Point Mouille, in township of Berlin, in Monroe county, in this State, to Stony Point, in said county, nor further than one mile out from a line running from Stony Point to Raisin Point, in said county, nor further than one mile out from a line running from Raisin Point to Bay Point, or North Cape, of Maumee Bay, at the State line between the States of Michigan and Ohio. Nets, or other devices for taking fish, extending from the shores of islands in Lake Erie within this State, shall not be extended further than one mile from shore of said islands.

head of Lake

SEC. 2. No person shall use any pound, trap, stake, or set-net, In Detroit river, or device of any kind for taking fish, in the Detroit river, or the Erie and Lake head of Lake Erie to Point Morrille, one mile in a easterly direc- St. Clair. tion from said point, nor in Lake St. Clair within a radius of two miles from the different mouths or outlets of St. Clair river, or

Relative to the use of nets, etc., in Lakes Erie and St. Clair, and St. Clair river.

Sweep nets not

to exceed a certain length.

Attaching of nets, etc., to bridges across Detroit and St.

Clair rivers, prohibited.

Catching white

fish in certain

certain dates, prohibited.

within a radius of the same distance from the present light-house near the outlet of Lake St. Clair within the waters of this State. SEC. 3. No person shall use any net whatever, or device of any kind for the purpose of catching fish, in the waters of Lakes Erie or St. Clair, within this State, beyond such limits as may be designated in this act. No person shall use any pound, trap, stake, fike, set-net, or device of any kind for taking fish, in the St. Clair river within the jurisdiction of this State, excepting as provided for in section four of this act.

SEC. 4. No sweep net exceeding one hundred and fifty fathoms in length shall be used in any waters in this State for the purpose of taking fish. No sweep net exceeding sixty fathoms in length shall be used in the waters of Detroit river or St. Clair river within the boundaries of this State.

SEC. 5. No person shall attach, either directly or indirectly, to any bridge across either of said Detroit river or St. Clair river, or to any pier, part, or appurtenance of said bridge, any net or device by which the passage of fish shall be prevented or impeded. No bridge company, or other company, or person having the control of such bridge, shall license or permit, either for hire or gratuitously, any such net or device to be in any way attached thereto, or to any part thereof.

SEC. 6. It shall not be lawful for any person to catch or take waters, between Whitefish, between the twentieth day of November and the first day of March succeeding in each year, in any of said waters of Lake Erie or Detroit and St. Clair rivers; and immediately after said twentieth day of November, all nets, piles, stakes, and all other appliances of every kind which have been used in the business of fishing, shall be carried or caused to be carried to the shore, or inside the channel bank, by the person or persons who have used them; and they shall also cause the ground beneath the waters where such fishing has been carried on, to be cleared, so far as may be reasonable to be done, from all debris and material found thereon, which has resulted from said business.

Penalty for attempting to

ral running of white fish.

SEC. 7. Any person who shall attempt to divert the natural divert the natu- progress or running of whitefish within any of the waters mentioned in the different sections of this act, by shingling, or any other device calculated to frighten or divert such fish from their natural course, shall forfeit the sum of one hundred dollars, and imprisonment not exceeding sixty days, at the discretion of the court. Pound nets or seines shall not be construed to come within the provisions of this section, when used in compliance with this act.

Trial and pen

against provis

SEC. 8. Any person charged with offending against the provisalty for offending ions of this act, may be tried before a justice of the peace of the ions of this act. county in which the offense is charged to have been committed, in the same manner as other offenders are tried where the justice has jurisdiction, and upon conviction such person shall be subject to a fine not exceeding fifty dollars, for each and every offense, and to imprisonment in the county jail until such fine is paid; but not for a period exceeding sixty days.

provisions of

SEC. 9. It shall be the duty of said commissioners of State fish- Who to enforce eries, or of the sheriffs of the different counties in their respective this act. jurisdictions, to enforce the provisions of this act, and when upon information or otherwise, said commissioners or sheriffs shall discover any violations thereof, to institute the necessary proceedings to punish such violation.

spears, etc.

SEC. 10. No part of this act shall be construed as a prohibition Relative to fishupon fishing with hooks, or with spears, or any instrument or de- ing with hooks, vice similar in principle of its operation to such hooks or spears, at any time, and in any waters, nor upon fishing with sweep nets of any length not exceeding one hundred and fifty fathoms, in the waters where pound, stake, trap, or set-nets, or set devices of any kind for taking fish, may be used under the provisions of this act. SEC. 11. It shall not be lawful to use sweep nets within two sweep nets, etc., miles of the mouths of St. Clair river during the months of De- use of, in St. cember, January, and February, in each year, nor to use seines in the above named locality during the spawning season of black bass.

Clair river.

catching of soft fish, etc.

SEC. 12. Nothing in this act contained shall prohibit the catch- Relative to ing of soft fish, sturgeon, pike, or carnivorous fish at any time. Approved May 1, 1875.

[No. 189. ]

AN ACT to repeal act number fifty-one of the session laws of eighteen hundred and seventy-two, entitled "An act to amend sections fifteen and eighteen of act number one hundred and fifty-five of the session laws of eighteen hundred and sixty-nine, entitled 'An act to amend act number seventy-six of the session laws of eighteen hundred and sixty-seven, entitled An act for the appointment of a commissioner to be known as the Swamp Land State Road Commissioner,' approved March twenty-first, eighteen hundred and sixty-seven, by adding six new sections thereto, to stand as sections fourteen, fifteen, sixteen, seventeen, eighteen, and nineteen," approved April fifth, eighteen hundred and sixty-nine.

SECTION 1. The People of the State of Michigan enact, That Act repealed. act number fifty-one of the session laws of eighteen hundred and seventy-two, entitled "An act to amend sections fifteen and eighteen of act number one hundred and fifty-five of the session laws of eighteen hundred and sixty-nine, entitled An act to amend act number seventy-six of the session laws of eighteen hundred and sixty-seven, entitled An act for the appointment of a commissioner to be known as the Swamp Land State Road Commissioner,' approved March twenty-first, eighteen hundred and sixtyseven by adding six new sections thereto, to stand as sections fourteen, fifteen, sixteen, seventeen, eighteen, and nineteen," approved April fifth, eighteen hundred and sixty-nine, be and the same is hereby repealed.

SEC. 2. This act shall take immediate effect.
Approved May 1, 1875.