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Same — To deal in shares of other corporations. — See 28 A. R.
15; 36 A. S. 134.

Same — To hold franchise and real property. — See 1 Obiter
Dig. 454-457.

Same — To purcliase their own capital stock. — See 33 A. S.
339.

Powers and liabilities of — Rights and powers generally, see
1 L. 285; 1 L. 458; 2 L. 387; 2 L. 418; 2 L. 420; 3 L. 174; 5 L.
100; 6 L. 290; 6 L. 565; 6 L. 661; 7 I.. 605; 8 L. 500; 9 L. 35; 9 L.
37; 11 L. 715; 11 L. 845, 846, 847; 12 L. 168; 20 L. 765: 32 L.
293-297; 48 L. 587; 62 L. 79; 2 L. N. S. 130; 2 L. N. S. 144; 2
L. N. S. 741; 4 L. N. S. 1001; 4 L. N. S. 1091; 7 L. N. S. 816; 8
L. N. S. 966; 9 L. N. S. 193; 9 L. N. S. 689; 12 L. N. S. 757; 2 W.
& P. 1615, 1616.

Same — Contracts of. — See 7 L. N. S. 467; 9 L. N. S. 606; 11 L.
N. S. 598; 12 L. N. S. 825.

Same — Officers and agents of — Generally. — See 1 L. 607; 2 L.
192; 12 L. 784; 15 L. 418; 29 L. 384.

Same — Same — Rights and powers of. — See 3 L. 378: 6 L. 678;
12 L. 715; 25 L. 48; 27 L. 401; 49 L. 471; 50 L. 273.

Same — Same — Same — President and vice-president, of. — See 14
L. 356-360.

Same — Same — Duties and personal liabilities of. — See 19 L.
676; 26 L. 781; 28 L. 421; 28 L. 427; 29 L. 385; 36 L. 361.

Same — Same — Same — Of directors. — See 2 L. 534; 3 L. 397; 4
L. 746, 747; 9 L. 653; 15 L. 305; 55 L. 751-774.

142



Tit.I,ch.I,art.I.] CORPORATIONS, GENERALLY. § 283

Preferences, right of to make in favor of a creditor. — See 42
A. S. 767; 45 A. S. 826.

Process, service of upon. — See 66 A. D. 119.

Promoters of corporations — As to generally, see 11 L. 515; 12
L. 366; 17 L. 550; 25 L. 90-102; 26 L. 544-551; 40 L. 216; 18 L.
N. S. 1106-1134; as to liability of promoters, and those conspir-
ing with them, to purchase property, for secret profits as joint
tort feasors. — See 97 P. 10, 16; 18 L. N. S. 1106.

Same — And their relation thereto. — See 17 A. S. 161; 18 L.
N. k 1106.

Same — Same — Nature of the relation. — See 4 A. C. 667; 108 A.
S. 479; 49 L. 725; 119 A. S. 564; 5 L. N. S. 1036; 18 L. N. S. 1106;
44 L. ed. 423.

Same — Defenses of — Action by corporation. — See 44 A. S. 939;
107 A. S. 1017; 108 A. S. 479; 49 L. 725; 18 L. N. S. 1132; 34 L.
ed. 876; 50 L. ed. 458.

Same- — Same — Action by stockholder. — See 44 A. S. 939; 119
A. S. 564; 18 L. N. S. 1134.

Same — Duty to make disclosures. — See 5 L. N. S. 1036; 18 L.
N. S. 1107.

Same — Same — To whom and how made. — See 108 A. S. 479;
49 L. 725; 52 L. 724; 18 L. N. S. 1108.

Same — False representations by — What constitute. — See 119 A.
S. 564; 5 L. N. S. 1036; 18 L. N. S. 1109; 47 L. ed. 802.

Same — Same — Meaning of representation. — See 40 L. 837;
18 L. N. S. 1110.

Same — P"'raudulent misrepresentation by — Measure of damages
for. — See 49 L. 725; 18 L. 1131.

Same — Liability of — For damages. — See 16 L. N. S. 348; 18 L.
N. S. 1119.

Same — Same — For secret profits. — See 79 P. 1; 4 A. C. 667; 52
L. 724; 18 L. N. S. 1110-1112; 44 L. ed. 423.

Same — Same — On sale of property to corporation — Owned by
promoter.— See 40 L. 837; 18 L. N. S. 1112.

Same — Same — Same — On which promoter holds option. — See 79
P. 1; 52 L. 724; 18 L. N. S. 1114.

Same — Same — Same — For sale of which promoter is agent. —
See 49 L. 725; 18 L. N. S. 1115.

Same — Same — To bonus given. — See 18 L. N. S. 1119.

Same — Misrepresentations by. — See 85 A. S. 385.

Same — Remedies of corporation — Affected by rights of third
parties.— See 18 L. N. S. 1124; 44 L. ed. 423.

Same— Same — At law. — See 18 L. N. S. 1122.

Same — Same — In equity. — See 74 A. S. 845; 49 L. 725; 52 L.
724; 5 L. N. S. 1036; 18 L. N. S. 1123.

Same — Remedies of stockholders. — See 79 P. 1; 119 A. S. 564;
18 L. N. S. 1125.

Same — Same — In equity. — See 79 P. 1; 119 A. S .564; 18 L. N. S.
1127-1131.

143



§ 283 CIVIL CODE. [Div.I.Pt.IV.

Same — Rights and liabilities of inter se. — See 108 A. S. 479:
18 L. N. S. 1121.

Proxies, irrevocable. — See 56 A. S. 138.

Public duties of, bills to compel performance of. — See 38 A. D.
537.

Quasi, what are. — See 13 A. D. 523.

Real property, capacity of to take title to. — See 94 A. D. 381.

Receivers for — When and at whose instance may be ap-
pointed.— See 72 A. S. 49, 70; 79 A. D. 49, 70; 118 A. S. 198. ,

Records of — Conclusiveness of, and the power to amend. — See
13 A. S. 550.

Same — Effect of failure to enter resolutions and acts in.— See
74 A. D. 309.

Repeal, alteration and amendment of charters — Charter as a
contract. — See 1 Obiter Dig. 463-465.

Same — Assent of corporation to alteration or amendment. —
See 1 Obiter Dig. 471.

Same — Impairment of contracts and interference with vested
rights. — See 1 Obiter Dig. 465-468.

Same — Power of majority stockholders to bind minority by
amendment. — See 1 Obiter Dig. 471, 472.

Same — Reservation of right to repeal, alter or amend. — See 1
Obiter Dig. 468-471.

Residence of for jurisdictional purposes. — See 33 A. D. 399;
see "Citizenship and Residence," this note.

Resignation of officers of. — See 95 A. S. 578.

Rights and powers of — 'As to generally, see 8 A. C. 1047.

Same — Same — Power of corporation to act as trustee of char-
itable trust. — See 8 A. C. 1181.

Same — Same — Power of corporation to offer reward. — See 3
A. C. 157.

Same — Same — Rights inter se of corporation and bona fide
purchaser of forged or spurious stock certificate. — See 5 A. C.
251.

Same — As to acquisition of stock of rival corporation. — See
8 A. C. 57, 64.

Same — Same — Acquisition by corporation of stock in another
coi-poration for purpose of controlling same and preventing
competition. — See 8 A. C 64.

Same — As to conveyance of property. — See 4 A. C. 1057, 1061;

6 A. C. 253.

Same — Same — Power of private corporation to lease its real
property. — See 4 A. C. 1061.

Same— As to liens. — See 3 A. C. 187, 188.

Same — Same — Right of corporation to mechanics' lien. — See

7 A. C. 430.

Same — Actions — Bill in equity to determine title to officer of
private corporation. — See 4 A. C. 707.

Same — Same — Competency of officer, stockholder, or agent of

144



Tit.I,cli.I,art.I.] corporations, generally. § 283

corporation to testify as to transactions or communications
with decedent. — See 9 A. C. 181.

Same — Same — Equitable jurisdiction of sureties by corpora-
tion or receivers against directors or officers for negligence or
wrongful act. — See 11 A. C. 721.

Same — Same — Evidence.— See 3 A. C. 731; 6 A. C. 675; 7 A. C.
287; 8 A. C. 173.

Same — Same — Instruction. — See 3 A. C. 731.

Same — Same — Jurisdiction of courts. — See 7 A. C. 1114.

Same — Same — Mandamus as remedy to compel private corpo-
ration to perform duties arising out of contracts. — See 8 A. C.
410.

Same — Same — Pleadings.^See 3 A. C. 472.

Same — Same — Power to sue and be sued, and limitations. —
See 2 A. C. 127; 2 A. C. 639; 4 A. C. 704; 7 A. C. 41; 8 A. C. 407;
9 A. C. 819.

Same — Same — Process. — See 1 A. C. 225.

Same — Same — Questions submitted to jury. — See 3 A. C. 731.

Same — Same — Rights of corporation to sue for libel or slan-
der.— See 5 A. C. 550.

Same — Charter is measure of power. — See 1 Obiter Dig. 449.

Same — Distinction between common law and statutory cor-
porations. — See 1 Obiter Dig. 450.

Same- — Duties and liabilities of — As to generally, see 2 A. C.
859; 5 A. C. 411; 5 A. C. 558; 6 A. C. 675; 9 A. C. 677.

Same — Same — Liability of corporations for debts of prede-
cessor. — See 4 A. C. 260.

Same — Same — Liability of corporation to indictment for non-
feasance. — See 5 A. C. 413.

Same — Same — Liability of corporation for libel or slander. —
See 9 A. C. 433.

Saine — Same — Property or franchise of quasi-public corpora-
tion as subject to sale under execution. — See 5 A. C. 512.

Same — Same — Rights inter se of" corporation and bona fide
purchaser of forged or spurious stock certificate. — See 5 A. C.
251.

Same — Officers and agents — who are. — See 5. A. C. 221.

Same — Same — Agent of private corporation is "officer." — See
5 A. C. 223.

Same— Same — Appropriation of corporate funds for political
purpose by officer of corporation as criminal offense. — See 10
A. C. 320.

Same — Same — Criminal rights of officer of corporation for
its acts of non-feasance or misfeasance. — See 8 A. C. 383.

Same — Same — -Imputability to corporation of notice to its
officers where latter are engaged in independent acts in their
own interest. — See 6 A. C. 679.

Same — Same— Liability.— See 2 A. C. 873; 7 A. C. 287; 7 A. C.
1114; 8 A. C. 380.

145



§ 283 CIVIL CODE. [Div.I.Pt.IV.

Same — Same — Liability of person signing negotiable paper
as officer of corporation. — See 6 A. C. 1000.

Same — Same — Notice to. — See 6 A. C. 675, 679.

Same — Same — Power of president and secretary to execute
commercial paper for corporation. — See 2 A. C. 520.

Same — Same — Purchase of stock by director as affected by
fiduciary relation to stockholder. — See 2 A. C. 877.

Same — Same — Rights and powers of. — See 2 A. C. 519; 2 A. C.
873; 3 A. C. 731; 7 A. C. 287; 7 A. C. 667.

Same^—Possible rights. — See 1 Obiter Dig. 449.

Same — Promoters, their rights and liabilities. — See 4 A. C. 667;
8 A. C. 260.

Same — Same — Liabilities of corporation to third parties on
contracts of its promoters. — See 8 A. C. 262.

Same — Same — Relation of promoter to corporation and stock-
holder.— See 4 A. C. 669.

Same — To locate mining claim. — See 7 L. N. S. 816.

Same — To sue for libel. — See 2 L. N. S. 741.

Sale by of all their assets and the effect thereof. — Ste 99 A.
D. 333; 103 A. S. 548.

Same corporation of one class cannot exercise powers granted
to another class. — See 1 Obiter Dig. 450.

School district.— See 2 W. & P. 1620.

Seal of — Effect of as evidence. — See 64 A. S. 260.

Same — May be omitted when. — See 13 A. D. 561.

Secret profits, liability of promoters, for, as well as those con-
spiring with them to purchase property. — See 97 P. 10, 16; 18
L. N. S. 1106.

Special and hostile legislation, protection of from. — See 62 A.
S. 165.

State.— See 2 W. & P. 1620.

State university. — See 2 W. & P. 1621.

Status of corporations. — See 10 L. 129; 11 L. 216; 14 L. 184; 14
L. 580; 14 L. 585; 15 L. 82; 19 L. 223; 60 L. 330.

Statute of limitations in actions against officers and stock-
holders. — See 96 A. S. 972.

Stock — Collateral, liability of persons holding as. — See 68 A. S.
542.

Same — Fraudulent and overissued. — See 87 A. S. 847.

Same — Mandamus to compel transfer of. — See 51 A. R. 798.

Same. — Preferred, what is and what are the special rights of
its holders. — See 73 A. S. 227.

Same — Subscriber for, transfer by, effect of. — See 14 A. D.
264.

Same — Subscriptions for, when become void by nonpayment. —
See 11 A. D. 609.

Same — Subscriptions to and distinction between subscriptions
and offers or agreements to subscribe. — See 81 A. D. 392.

146



Tit.I,ch.I,art.I.] PUBLIC AND private. § 284

Same — Transfers of, to what extent may be restricted. — See
57 A. S. 379.

Stockholder — Actions against for debts of. — See 4-3 A. D. 694.

Same — Actions by on behalf of. — See 97 A. S. 29.

Same — Estoppel of to deny. — See 31 A. R. 88.

Same — Included. — See 2 W. & S. 1617.

Same — Liability 'of. — See 9 A. D. 96.

Same — Same — Enforcement of in other states. — See 37 A. S. 168.

Same — ^Same — For debts of. — See 49 A. D. 308.

Same— Same — For debts of, nature of. — See 99 A. D. 432.

Same — Same — To the creditors of the corporations. — See 3 A.
S. 806.

Same — ^Meetings and voting — Generally. — See 12 L. 783; 15 L.
665; 15 L. 682.

Same — Right to vote by proxy. — See 29 L. ^44-849.

Same — What constitutes quorum for stockholder. — See 2 2 L.
174.

Same — Right of one who has paid more than his share of'
the corporate liabilities. — See 71 A. S. 40.

Same — Right of to inspect books, and remedies for its en-
forcement. — See 107 A. S. 674.

Same. — Right of to maintain a bill to dissolve and to dis-
tribute assets. — See 91 A. S. 33.

Same — Subscription of for stock, liability of upon. — See 40 A.
D. 358.

Same — When may maintain suits against ofRcers and agents
to call them to an accounting or to set aside their acts. — See
41 A. D. 367.

Subscribers to stock of, liability of to. — See 93 A. S. 349.

Subscriptions, liability of transferee of stock for subsequent
calls. — See 6 A. S. 838.

Suits by and against corporations. — See 1 Obiter Dig. 461-463.

Torts — Liability of, for. — See 5 A. D. 42; 13 A. D. 596.

Same — Liability of directors for. — See 74 A. S. 610.

Transactions in the name of supposed, but nonexisting, cor-
porations. — See 94 A. S. 593.

Ultra vires contracts of. — See 13 A. D. 108; 70 A. S. 156.

United States.— See 2 W. & P. 1621.

Withdrawal of assets of, what amounts to.- — See 57 A. S. 63.

§284. [KINDS OF]— WHAT ARE PUBLIC A>D WHAT
PRIVATE CORPORATIONS. Corporations are either public
or private. Public corporations are formed or organized for
the government of a portion of the state; all other corpora-
tions are private.

Historyj Enacted March 21, 1872; amended March 30, 1874,
Code Amdts. 1873-4, p. 197.

147



§§ 285, 286 CIVIL CODE. [Div.I.Pt.lV.

See Kerr's Cyc. C. C. for 29 pars, annotation.

51 C. 406, 409 (applied to levy districts); 117 C. 114, 121, 48 P.
1016 (applied to reclamation districts); 134 C. 477, 478, 66 P.
668 (applied to reclamation districts); 144 C. 329, 334, 77 P.
937 (section must be taken as definition of a public or municipal
corporation); 151 C. 797, 805, 91 P. 740, 744 (what is not essential
to a public corporation).

As to many miscellaneous matters relating to corporations
generally, see note § 283, ante.

§285. PRIVATE, HOW FORMED. Private corporations
may be formed by the voluntary association of any three or
more persons in the manner prescribed in this article. A
majority of such -persons must be residents of this state.

History: Enacted March 21, 1872; amended March 30, 1874,
Code Amdts. 1873-4, p. 198; March 20, 1905, Stats, and Amdts.
1905, p. 502.

See Kerr's Cyc. C. C. for 27 pars, annotation.

128 C. 257, 260, 60 P. 865 (referred to in construing other sec-
tions).

As to corporations de facto, see 19 A. D. 67; 33 A. S. 181.

As to defective formation of corporation by reason of failure
to comply with statute, see Kerr's Cyc. C. C. § 290 note pars.
33 et seq.; also 33 A. S. 176-186.

As to many miscellaneous matters relating to corporations
generally, see note § 283, ante.

As to requisites for valid incorporation de jure, see Kerr's
Cyc. C. C. § 290 note pars. 6-32.

As to substantial compliance being sufficient to form de facto
corporation, see Kerr's Cj'C. C. C. § 290 note pars. 4, 5.

§ 286. [SAME]— FOR WHAT PURPOSE. Private corpora-
tions may be formed for anj"- purpose for which individuals
may lawfully associate themselves.

History: Enacted March 21, 1872; amended March 30, 1874,
Code Amdts. 1873-4, p. 198.

52 C. 53, 60, 28 A. R. 629 (policy of exercise of enlarged
powers by corporations is bej'-ond reach of the courts); 109 C.
571, 590, 42 P. 225 (it is infra vires, when, to purchase, hold,
and sell stock in other corporations); 113 C. 526, 531, 45 P. 820
(cited); 144 C. 578, 594, 77 P. 1113 (construed with §360, as to
power of corporation to acquire title by i^rescription).

As to many miscellaneous matters affecting corporations gen-

148



Tit.I,cli.I,art.I.] PURPOSES OF private. § 286

erally, see note § 283, ante. An enumeration of seventeen pur-
poses for which corporations might be formed, was contained
in the original section, which prohibited all other purposes.

Bonds may be given by private corporations, where required
by law (Stats. 1885, p. 114; 1893, p. 476), see Hen. G. L., tit.
Bonds Required by Law, and note; also tit. Libel and Slander.
See also Kerr'.s Pocket Pol. C. § 955 subd. 6; and Kerr'.s Pocket
C. C. P. §§ 1056, 1057.

Cemetery associations, act authorizing incorporation of rural,
see Hen. G. L. tit. Cemeteries.

Chambers of Commerce.— See Kerr's Cyc. C. C. § 286, note.

Co-operative associations, act providing for incorporation
and management of (Stats. 1895), see Hen. G. L., tit. Corpora-
tions.

Corporations, acts protecting stockholders and persons deal-
ing with company, see Hen. G. L., tit. Corporations.

Deed by corporation, manner of executing. — See Hen. G. L.
(Stats. 1895, p. 75), tit. Cemeteries.

Fire insurance companies, organization and management. — •
See Hen. G. L. (Stats. 1865-6, p. 743), tit. Corporations; for
county fire insurance companies (Stats. 1897, p. 439), see Id. tit.
Corporations.

Foreign corporations, acts relating to. — See Hen. G. L., tit.
Corporations.

Same — Certified copy of certificate to be filed with secretary
of state (Stats. 1901, p. 108). — See Hen. G. L., tit. Corporations.

Surety corporations, for statutes providing that corporations
may act as surety where bond is required by law. — See Hen.
G. L., tit. Corporations.

Homestead corporations, act atithorizing formation of.— See
Hen. G. L., note to tit. Corporations.

Insurance in assessment plan, act relating to, and regulating
conduct of business (Stats. 1873-4, p. 745; Stats. 1891, p. 126). —
See Hen. G. L., tit. Corporations.

Irrigation, as to act relating, see Hen. G. L., tit. Irrigation.

Mutual insurance companies, as to (Stats. 1873-4, p. 745). —
See Hen. G. L., tit. Corporations.

Acts April 2, 1866, p. 752; 1868, p. 330, 661; 1880, p. 239, incor-
porated in Civil Code.

Railroads, for acts requiring safeguarding, sale of franchise,
management and operation (other than "special" acts). — See
Hen. G. L., tits. Commissioner of Transportation; Railroads.

Telegraph Companies, as to granting franchise, etc. (Stats.
1862, p. 288), see Hen. G. L., tit. Telegraph.

This statute was thoroughly codified except as to §§ 11, 14, 15,
which may possibly have some vitality; but see Hen. G. L., tit.
Telegraph, note.

149



§ 287 CIVIL CODE. [Div.I.Pt.IV.

§287. EXISTENCE, HOW CONTINUED [UNDER CODE].

Any corporation existing on the first daj' of January, one
thousand eight hundred and seventy-three, formed under the
laws of this state, and still existing, which has not already
elected to continue its existence, under the provisions of this
code applicable thereto, may, at any time hereafter, make
such election [1] by the unanimous vote of all its directors,
or such election may be made [2] at any annual meeting of
the stockholders, or members, or [3] at any meeting called
by the directors expressly for considering the subject, if voted
by stockholders representing a majority of the capital stock,
or by a majority of the members, or [4] may be made by the
directors upon the written consent of that number of such
stockholders or members.

[Certificate to be filed.] A certificate of the action of the
directors, signed by them and their secretary, when the
election is made by their unanimous vote, or upon the written
consent of the stockholders or members, or a certificate of
the proceedings of the meeting of the stockholders or mem-
bers, when such election is made at any such meeting, signed
by the chairman and secretary of the meeting and a majority
of the directors, must be filed in the office of the clerk of
the county where the original articles of corporation are
filed, and a certified copy thereof must be filed in the office
of the secretary of state; and thereafter the corporation shall
continue its existence under the provisions of this code which
are applicable thereto, and shall possess all the rights and
powers, and be subject to all the obligations, restrictions,
and limitations prescribed thereby.

HLsfory: Enacted March 21, 1872; amended March 30, 1874,
Code Amdts. 1873-4, pp. 198-199.

See Kerr's Cyc. C. C. for 5 pars, annotation.

57 C. 532, 533 (construed and applied); 105 C. 526, 552, 38 P.
94, 109, 722, 28 L,. 773 (referred to); 109 C. 571, 579, 580, 586, 42
P. 225 (referred to); 111 C. 57, 65, 52 A. S. R. 149, 43 P. 418
(referred to); 119 C. 334, 342, 51 P. 317 (referred to); 122 C. 335,
336, 337, 339, 55 P. 10 (cited).

As to many miscellaneous matters affecting' corporations gen-
erally, see note § 283, ante.

150



Tit.I,ch.I,art.I.] instrument creating. §§288-290

As to validating act, passed before Code (April 1, 1864, Stats.
1863-4, p. 303), as to corporations theretofore deficiently incor-
porated, see 56 C. 345, 348.

Building and loan associations — Election to continue in btisi-
ness. — See Kerr's Cyc. C. C. § 646 and note.

§288. EXISTING CORPOEATIOXS ^OT AFFECTED. No

corporation formed or existing before twelve o'clock, noon,
of the day upon which this code takes effect, is affected by
the provisions of Part IV of Division First of this code,
unless such corporation elects to continue its existence under
it as provided in section 287; but the laws under which such
corporations were formed and exist are applicable to all such
corporations, and are repealed, subject to the provisions of
this section.

History: Enacted March 21, 1872.

See Kerr's Cyc. C. C. for 12 pars, annotation.

52 C. 132, 141 (referred to in construing other sections); 60 C.
308, 310 (construed); 105 C. 526, 550, 552, 553, 38 P. 94, 109, 722,
28 L. 773 (construed and applied); 109 C. 571, 579, 580, 581, 582,
583, 42 P. 225 (construed); 111 C. 57, 65, 52 A. S. 149, 43 P. 418
(applied to pre-existing bank); 119 C. 334, 341, 342, 51 P. 317
(applied to pre-existing bank); 122 C. 335, 337, 55 P. 10 (con-
strued).

As to many miscellaneous matters affecting corporations gen-
erally, see note § 283, ante.

§289. NAME OF INSTRUxMENT CREATING CORPORA-
TION. The instrument by which a private corporation is
formed is called "articles of incorporation."

History: Enacted March 21, 1872.

128 C. 257, 260, 60 P. 865 (referred to).

As to many miscellaneous matters affecting corporations gen-
erally, see note § 283, ante.

§290. ARTICLES OF INCORPORATION. WHAT THEY
MUST SET FORTH. Articles of incorporation must be pre-
pared, setting forth:

1. The name of the corporation.

2. The purpose for which it is formed.

3. The place where its principal business is to be transacted.

151



§ 290 CIVIL CODE. [Div.I,Pt.IV.

4. The term for which it is to exist, not exceeding fifty
years.

5. [Number of directors — Lodges.] The number of its
directors or trustees, which shall not be less than three, and
the names and residences of those who are appointed for
the first year; provided, that the corporate powers, business,
and property of corporations formed, or to be formed,
for the purpose of erecting and managing halls and
buildings for the meetings and accommodations of sev-
eral lodges or societies of any benevolent or charitable order
or organization, and in connection therewith the leasing of
stores and offices in such building or buildings for other pur-
poses, may be conducted, exercised, and controlled by a board
of not less than three or more than fifty directors, to be
chosen from among the stockholders of such corporation, or
among the members of such order or organization;

[Number of directors may be changed.] And provided,
also, that at any time during the existence of corporations for
profit, other than those of the character last hereinabove
provided for, the number of the directors may, by a majority
of the stockholders of the corporation, be increased, or dimin-
ished to any number not less than three, who must be mem-
bers of the corporation; whereupon a certificate stating the
number of directors must be filed, as provided for in section
two hundred and ninety-six for the filing of the original arti-
cles of incorporation;

[Corporations for social purposes.] And provided, also, that
the corporate powers, business, and property of corporations
formed or to be formed for social purposes, and not directly
for profit, may be exercised, conducted, and controlled by a



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