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An Act in relation to the town of Smyrna. 1859 772 (1859)

handle is hein.slavery/ssactsde0188 and id is 1 raw text is: beowhn by n on-continuance of the said corporation it should so happen, that by _. otlsosubscription or sale, a proportion of said stock, greater than a scribe rmajority, shall be held or owned by persons not residing in this Moltod. State, either in their own naimes or the name of any other person as attorney, then the share or shares constituting such majority or overplus and Inst subscribed, or sold and transferred on the books of the said corporation, shall be forfeited by the directors for the benefit of the said corporation, and in case of the removal of any stockholder from the State, so that he ceases to be a citi- zen, if the amount of stock held or owned by him shall increase, the amount of stock held or owned out of this State, to a pro- portion greater than a mnjurity, it shall be incumbent on such stockholder to sell and transfer his said stock, or as much thereof as will reduce the amount so held or owned out of theState to less than a majority, to some person or persons resident within thi3 State, within three months from the time of such removal, or the same shall be forfeited by the said directors for the benefit of the corporation. Power of revok- SEc. 13. And be it furother enacted, That the power of revoking tog act roxerved. or repealing this act, is hereby expressly reserved to the Legisla- ture. If com nv not SEc. 14. And be it further enacted, That if the said corpora- aim 58 tition shall not be fully organized according to the provisions of -act to b. yoed. this act, oi or before the first day of January, one thousand eight hundred and sixty-one, then and in that case this act shall be tinll and void, and of no eifrect. Passed at Dover, February 25, 1859. CHAPTER DCLXX. AN ACT in relation to the town of Smyrna. ECTION 1. Be it enacted by the Senate and House of leJpre- sentatices of the State of Delaware, in General Asseiblyv met, . suseroftbna. That the bounds and limits of the town of Smyrna shall be, and are declared to be as marked and designated on the plot of said town, made out by the commissioners under the act of the General As- sembly, passed March 1. A. D. 1855, and nmw lodged in the Re- corder's office of Kent County. LAWS OF THE

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