485.201 Corporations to improve state boundary rivers; incorporators. Sec. 1. That any number of persons, not less than 5, may be formed into a corporation to improve any river and its tributaries which form, in whole or part, the boundary between this and any adjoining state, for the purpose of driving, sorting, holding and delivering […]
485.202 Corporations to improve state boundary rivers; certificate, acknowledgement, contents, recording, filing. Sec. 2. Such persons, under their hands and seals, shall make a certificate, which shall specify: First, The purpose for which the corporation is formed and the name of the rivers proposed to be improved; Second, A statement of the amount of capital […]
485.203 Corporations to improve state boundary rivers; body corporate, powers. Sec. 3. Upon complying with the provisions of the last preceding section, such company shall be a body corporate by the name designated in said certificate, and as such shall be capable of suing and being sued in all courts, and may have a common […]
485.204 Annual report; contents, filing, inspection by stockholders. Sec. 4. Every such corporation shall annually, in the month of January, make a report, signed by its president and secretary, containing: First, The amount of capital stock actually paid in; Second, The amount invested in real and personal estate; Third, The amount of their debts and […]
485.205 Stock divided into shares; increase. Sec. 5. The amount of the capital stock of every such corporation shall be fixed and limited by the stockholders in their articles of association, and shall be divided into shares of 100 dollars each, 10 per cent of which shall be paid in. The capital stock and the […]
485.206 First meeting; calling. Sec. 6. When any corporation shall be formed under this act, any 2 of those associated may call the first meeting of the corporation at such time and place as they may appoint, by giving notice thereof by publishing the same in some newspaper published in the county where the office […]
485.207 Directors; powers, election, term, officers, selection, term. Sec. 7. The business and property of said company shall be managed by a board of directors of not less than 3 nor more than 9 directors, who, after the first year, shall be elected annually as the by-laws of said company shall direct; and public notice […]
485.208 Directors; stockholders; quorum; voting. Sec. 8. A majority of the directors of every such corporation convened according to the by-laws, shall constitute a quorum for the transaction of business, and those holding a majority of stock at any meeting of the stockholders shall be capable of transacting the business of the meeting, and at […]
485.209 Property; holding. Sec. 9. Every such corporation shall, by their corporate name, have powers to acquire, use and hold all such works and improvements, and all such real and personal property as may be necessary or suitable for the purposes of such corporation, and to take or flow lands or property in the construction […]
485.210 Condemnation. Sec. 10. Whenever any such corporation shall desire to take or flow any lands or property in the construction of the works or improvements authorized by this act, when no agreement can be made with the owners thereof, the like proceedings shall be had and taken as is provided in an act entitled, […]
485.211 Improvement powers; repair duty; driving of logs; tolls and expenses, lien. Sec. 11. Any such corporation formed for the improvement of any boundary river in whole or part and any of its tributaries, and for driving, sorting, holding and delivering logs thereon, which shall have taken prior possession of such boundary river for that […]
485.212 Lien; enforcement. Sec. 12. Any such corporation claiming any lien as provided for in the preceding section, may recover the amount of such lien in the manner provided in sections 17 and 18 of an act entitled “An act to authorize the formation of corporations for the running, booming and rafting of logs,” approved […]
485.213 Consolidation; procedure; powers of new corporation; articles or certified copy as evidence. Sec. 13. Any corporation formed under this act and any corporation of an adjoining state created for any similar or kindred purpose upon the same river may consolidate their stock, property and franchises in the manner and upon the terms agreed upon […]
485.214 Delivery duties; liability for damages. Sec. 14. It shall be the duty of said corporation to provide for the delivery of and to deliver to the respective owners and parties entitled to receive the same the logs and timber driven, boomed, or sorted by such corporation, with prompt and impartial diligence, and no owners […]
