How to become mem bers. how elected. the clear yearly income of such property over and above the annual expenditures do not in any one year exceed the sum of five thousand dollars. 2. And be it enacted, That any person upon the payment of five dollars annually, or fifty dollars at one time to the treasurer of the said corporation for the use thereof, may become a member of the said corporation, and shall be entitled to vote at any election to be held in virtue of this act. 3. And be it enacted, That no religious test shall be required or allowed for general membership, or for eligibility to any office in this institution, or for the admission as a pa tient. Directors, and 4. And be it enacted, That for the proper and efficient management of said corporation, there shall be a board of directors, to consist of twelve persons, to be elected at the annual meeting of the members, at such time and place as the by-laws of the said corporation shall direct and appoint. Officers. Failure to elect not to lution. 5. And be it enacted, That the board of directors shall annually elect by ballot from among their own members a president, vice president, secretary and treasurer, who shall hold their respective offices for one year and until others are elected in their stead, and shall from time to time appoint all such physicians and other officers as may be required for the purposes of the corporation. 6. And be it enacted, That in case an election shall not be work a disso- made on the day appointed by the by-laws, the corporation shall not for that cause be deemed to be dissolved, or be rendered inoperative, but it shall and may be lawful to hold such election on some day to be appointed by the board of directors, by giving five days previous notice of time and place of such an election. Vacancies, how filled. Powers. 7. And be it enacted, That vacancies occasioned by the death, resignation or removal of any director or directors, may be filled by a majority of the board of directors until the next annual election. 8. And be it enacted, That said directors shall have full power and authority to establish and ordain from time to time such by-laws, ordinances and regulation as they may deem necessary for the full and efficient government of said corporation. 9 And be it enacted, That the property and effects of said corporation shall not be liable to the imposition of any tax or assessment; provided, such property and effects shall not exceed in value the sum of fifty thousand dollars; and that this act shall be deemed a public act, shall be adjudged and construed in all cases most favorably and for the best benefits and advantages of the said corporation, and the benevolent and charitable purposes it is intended to subserve. 10. And be it enacted, That this act shall take effect immediately. Approved February 13, 1868. CHAPTER IX. An Act to incorporate the New Jersey Land Improvement and 1. BE IT ENACTED by the Senate and General Assembly of Corporators. the State of New Jersey, That James Crooks, Adam Carr, Lees Garside, James Peacock and J. V. E. Fredericks, and all such persons as may hereafter be associated with them, their successors and assigns, shall be and they are hereby constituted a body corporate and politic in fact and in name, by the name of "The New Jersey Land Improvement and Build- Name. ing Company, of Passaic County," and by that name shall be capable in law of purchasing, using, holding, letting, improving, manufacturing, selling, and disposing of such real and personal estate in the county of Passaic as may be necessary or expedient to the objects of this corporation, and may receive and make all deeds, transfers, covenants, conveyances, grants, contracts, agreements and bargains whatsoever necessary or useful for the purposes aforesaid. how elected. 2. And be it enacted, That the stock, property and con- Directors, and cerns of the said corporation shall be managed and conducted by five directors, a majority of whom shall be residents of this state, all of whom shall be stockholders, and one of whom shall be president, who shall hold their offices respectively for one year and until others are elected; and that the said directors shall be chosen on the first Monday in April in every year, at such time and place as shall be provided for by the by-laws of said corporation, by such of the stockholders as shall attend for that purpose, either in person or by proxy; and notice of the time and place of such election shall be published not less than two weeks previous thereto in a newspa Corporators 1le the first directors. Capital stock. per published in the county of Passaic, and each stockholder shall be entitled to one vote for each share which he or she may hold in said corporation; and the persons having the greatest number of votes shall be directors, and the said directors may appoint such agents, officers and superintendents, and make such compensations, and assign such duties to said agents, officers ard superintendents as they shall think fit, and if at any time it shall happen that any vacancy or vacancies occur, from any cause whatever, among the directors of said company, such vacancy or vacancies shall be filled by such person or persons as the remainder of the directors for the time, or a majority of them, shall appoint; and until other directors are chosen from the stockholders, the first directors shall be James Crooks, Adam Carr, Lees Garside, James Peacock and J. V. E. Fredericks, who shall hold their office until the first Monday in April next or until others are legally chosen. 3. And be it enacted, That the capital stock of said corporation shall be one hundred thousand dollars, with the privilege of increasing it to three hundred thousand dollars, which shall be divided into shares of one hundred dollars each; and as soon as two hundred shares of the capital stock shall have been subscribed, and the sum of twenty dollars on each share so subscribed, paid or secured to be paid, it shall and may be lawful for said corporation to proceed to carry into effect the objects of said corporation; and it shall be lawful for the directors of said corporation to call and demand from the stockholders thereof, respectively, such installments, and at such times and in such proportions as they shall deem proper, not exceeding twenty dollars on each share at any one time, notice of which shall be published for at least thirty days in a newspaper published in the county of Passaic, or shall be given in writing to the stockholders for the like space of time before such installments are required to be paid, and in Nou-payment case of the failure of any stockholder to pay his or her bts incur a installments at the time and place appointed for the payholders. ment thereof, or within thirty days thereafter, such stock of install Books of subser prion, were opened. holder shall incur a forfeiture of his or her shares and all previous payments thereon, for the use of the company; and the books of subscription for the stock of said corporation shall be opened at such time and place, and remain open such time, in the county of Passaic, as the directors shall appoint, notice being given previous thereto for two weeks in a newspaper printed in said county; and the shares of the said cap ital stock shall be deemed personal property, and be transferable in such manner as the corporation by their by-laws shall direct. poration. 4. And be it enacted, That the said company is hereby au- Powers of corthorized to let, rent, lease, mortgage, sell and convey all such lands and real estate as they may have and hold, from time to time, in whole or in parcels, and to improve the same by grading, paving, curbing, guttering or flagging, or by constructing sewers or arains, subject to the regulations of the municipal authorities of any cities or villages in which such improvements may be proposed, or by erecting or causing to be erected thereon, buildings of every name, kind and de. scription, and for all proper and legitimate uses and purposes, or by laying off said lands and real estate into lots, and to use the same for agricultural purposes, or in any other way that the said corporation may deem necessary and advisable, and to purchase, make up and manufacture, sell and dispose of, all material pertaining to the erection of such buildings; and the said company are authorized to issue their bonds, May issue bearing interest not exceeding seven per cent. per annum, and to sell and dispose of the same at market value; to secure the payment of such bonds, the said company shall have power to convey or pledge by way of mortgage, trust or other wise, such portion of the property of said company as the directors may deem necessary for the purpose; provided, that proviso. the amount of bonds issued shall not exceed two-thirds of the value of the real estate held by said company. 5. And be it enacted, That a majority of the directors, for the time being, shall form a board for the transaction of the business of the said corporation, and shall have power to make such by-laws, ordinances and regulations as shall seem necessary and convenient for the management or disposition of the stock, effects and concerns of the said corporation provided, that the same are not contrary to the laws or constitution of the United States or of this state. bonds. elect directors not to work a dissolution. 6. And be it enacted, That in case it shall at any time hap- Failure to pen that an election of directors shall not be made on the day when, pursuant to this act, it ought to have been made, the said corporation shall not, for that cause, be deemed to be dissolved, but it shall and may be lawful to hold such election on such other day as the directors of said corporation shall direct. 7. And be it enacted, That this act shall take effect immediately. Approved February 13, 1868. Boundaries. CHAPTER X. An Act to revise and amend the charter of Egg Harbor City. 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That all that part of the county of Atlantic included within the following bounds, that is to say, between the Little Egg Harbor or Mullicas river on the northeast, and the Camden and Atlantic railroad on the southwest, and between a line on the southeast and south, commencing at a point southeast of the forty-second mile stone of the Camden and Atlantic Railroad, on the line of the said railroad and the middle of an avenue named Bremen avenue, on the plan of said city, and running thence in a straight line perpendicularly to said railroad in a northeastwardly direction along the middle of said Bremen avenue until it meets another avenue laid out on plan of said city, named Savannah avenue; thence eastwardly along the middle of said Savannah avenue to the Little Egg Harbor or Mullicas river and a line on the northwest, commencing at the said Camden and Atlantic railroad, and running northeastwardly along the middle of an avenue named Hamburg avenue, on the said plan of said city to the said Little Egg Harbor or Mullicas river; and all the freemen, citizens of this state, and residing within the limits aforesaid, shall be and are hereby made a body corporate and Incorporation politic by the name of "Egg Harbor City, and by that name of city, and shall have perpetual succession, and be capable of suing and being sued, defending and being defended, in all courts and places whatever, and in all manner of actions, complaints and causes whatsoever, and may have a common seal, and alter the same at pleasure, and by said corporate name shall be in law capable of purchasing, holding and conveying any estate, real or personal, for the public use of said corporation. name. Cfficers, and their terms. 2. And be it enacted, That there be and forever hereafter shall be in and for said city one mayor, who shall be keeper of the seal of the city, and nine common councilmen (the latter to hold their office for three years, and three of them to be elected annually), which mayor and common councilmen shall constitute and be called the common council of Egg Harbor City. 3. And be it enacted, That the said common council shall |