How and upon

may be organ

(1701.) SECTION 1. The People of the State of Michigan enact, what conditions That any number of persons may associate for the purpose of Bridge Companies constructing a bridge over any stream, not less than three ized. hundred feet across, upon such terms and conditions, and subject to the liabilities prescribed in this act, and to take and receive such amount of toll for the passage of persons, teams, vehicles, and animals across such bridge, as the Board of Supervisors in the county or counties in which such bridge is situated may prescribe, as hereinafter provided. (1702.) SEC. 2. Such persons, under their hands and seals, Certificate of shall make a certificate, which shall specify:

1. The name assumed to distinguish such company, and

to be used in its dealings, and by which it may sue and be sued;

2. The place where and the stream over which such bridge is to be constructed;

3. A description of the bridge proposed to be constructed; 4. A statement of the amount of the capital stock of such Company, and the number of shares into which the capital stock shall be divided;

5. The names and places of residence of the shareholders, and the number of shares held by each of them respectively;

organization, what to specify.

6. The term of its existence, not to exceed thirty years; which certificate shall be proved or acknowledged, as deeds are required to be acknowledged, and recorded in the office of the clerk of the county where such bridge is to be constructed, and a copy thereof filed in the office of the Secretary where to be filed. of State.

(1703.) SEC. 3. Upon complying with the provisions of the company to be last preceding section, such Company shall be, and is hereby Incorporated. declared to be a body corporate, by the name designated in

to be evidence.

Copy Certificate said certificate; and a copy of said certificate, duly certified by the clerk of the county where the same is filed and recorded, or by the Secretary of State, may be used as evidence in all Courts and places, for and against any such Company.

Powers of Company.

Assent of Board

of Supervisors to

before construc

Bridge.

(1704.) SEC. 4. Such Company shall have power to purchase, receive, hold, and convey such real estate, and such only, as may be necessary for the erection of such bridge and the necessary toll houses, and for effectually carrying on the operations of such association, and may appoint such Directors, officers and agent, and make such prudential rules, regulations and by-laws as may be necessary in the transaction of their business, not inconsistent with the laws of this State or of the United States.

(1705.) Sec. 5. No Company formed or created under this be obtained act shall construct any bridge across any stream until they shall tion of any have obtained the assent of the Board of Supervisors of the county in which the same is to be constructed; and if such proposed bridge is to be constructed partly in two counties, the assent of the Board of Supervisors in each county shall be first obtained as shall be provided by law.

Supervisors to fix rates of Toll.

(1706.) SEC. 6. The Board of Supervisors of the county in which [any] such bridge is to be constructed, shall, at the time of granting such assent to the construction of such bridge, or Penalty on Com previous to any toll being taken for passing the same, fix and pany for taking illegal Toll. establish the rates of toll to be paid for passing such bridge; and if such bridge shall be situated in more than one county, the Board of Supervisors of each county shall, at the request of the Directors of such Company, and at the expense of the Company, meet on some day to be agreed upon, at the site of such bridge, and shall act as one board, and may appoint their own Clerk and Chairman, in determining such rates of toll; and in either case such rates of toll shall be certified by such board, and a printed copy of such certificate shall be at all times kept up in some conspicuous place on such bridge. And if such Company, or any gate keeper in their employ, shall at any time take or receive any greater sum for toll than shall have been so fixed, such Company shall be liable to a penalty of ten dollars for every such offence, with costs of Tolls to remain suit, to be recovered by the person aggrieved. And after said Axed ten years. tolls shall have been so fixed, they shall remain fixed for the term of ten years, when they may be again fixed by the Minimum of Supervisors as aforesaid. But such toll shall not at any timo be reduced so that the sum shall amount to less than fifteen

Tolls..

if Bridge out of

per cent, a year upon the cost of the bridge. If any such Not to be taken bridge should at any time be out of repair, so as to render the repair. passage of teams and vehicles dangerous [or] inconvenient, no tolls shall be taken or received for passing over the same, till the same shall be repaired and put in good order. For Penalty for o every violation of this provision, the Company shall forfeit and pay to the party aggrieved a penalty of ten dollars for such violation, together with all damages that may be sustained by reason of such bridge not being kept in repair.

doing.

tentional injury

(1707.) SEC. 7. Any person who shall unlawfully or inten- Penalty for intionally injure or destroy any bridge, piers, or abutments, or the to Bridgo. materials, appurtenances, or property belonging thereto, shall, on conviction thereof, be deemed guilty of a misdemeanor, and be punished by a fine not exceeding five hundred dollars, or imprisonment in the county jail not exceeding one year, or both, at the discretion of the Court before which conviction shall be had.

ty of Sto cl

(1708.) SEC. 8. The stockholders of every Company organized Individual liabi in pursuance of this act, shall be jointly and severally personally holders. liable for the payment of all debts and demands against such association, which shall be contracted, or which shall be, or shall become due during the time of their holding such stock, for any labor or services done or performed for such Company; but no stockholder shall be proceeded against for the collection of any debt or demand against such Company, until judgment thereon shall have been obtained against the association, and an execution on such judgment shall have been returned unsatisfied in whole or in part, or unless such association shall be dissolved.

make Annuai

(1709.) SEC. 9. Every such Corporation shall, annually, Corporation to within ten days from the first of January, make a report, which Report. shall state the amount of capital and the amount actually paid in, the investment of any portion of the earnings of such Company in its business, and the whole amount of money which, has at any time been borrowed, and then remaining unpaid; and the amount of tolls received for passing such bridge for the year then last past; which report shall be signed by the President and a majority of the Directors, and shall be verified by the oath of the President or Secretary of such corporation, and filed in the office of the clerk of the county in which any portion of such bridge is situated. And if any such Company Liability for neg shall fail so to do, all the Directors thereof shall be jointly and

lect.

Assessment for
Taxation.

taken while Tax unpaid.

severally liable for all the debts of the Company then existing, and that shall be contracted before such report shall be made.

(1710.) SEC. 10. The capital stock of such Company shall not be taxed as such; but the bridge, with its appurtenances, gates and toll houses, shall be assessed at its true cash value to the Company by their corporate name, as personal property No Toll to be in the township in which the toll shall be received; and in case such tax shall not be paid before the collecting officer shall be bound to make return of the same, no toll shall be taken after such default of payment, until the same, with Forfeiture for interest at twenty-five per cent., shall have been duly paid. For any violation of this provision, any such Company shall forfeit its corporate franchises.

violation of this Provision.

Stock to be

deemed Personal

transferable.

(1711.) SEC. 11. The stock of any such corporation shall be Estate, and how deemed personal estate, and shall be transferable in such manner as shall be prescribed by the by-laws of the Company; but no transfer shall be valid for any purpose whatever, except to render the person to whom it shall be transferred liable for the debts of such Company, according to the provisions of this act, until the same shall have been entered upon the books of the corporation, so as to show the names of the parties by, and to whom transferred, the number and designation of the shares, and the date of the transfer; and no shares shall be transferable until all previous calls of assessment thereon shall have been fully paid in, or shall have been declared forfeited for the non-payment of calls Restriction upon thereon. It shall not be lawful for any such corporation to use any of their funds in the purchase of, or in any manner to purchase stock in, any other corporation.

use of corporate funds.

Legal process;
How served upon
Company.

Books to be kept.

(1712.) SEC. 12. Service of any legal process against any such corporation may be made on the President or Secretary, or if neither of them can be found in the county, then upon. any one of the Directors of such Company; and in case none of the above named officers can be found in the county, then such service may be made by leaving a copy of such process with the person receiving tolls at such bridge.

(1713.) SEC. 13. It shall be the duty of the Directors of every such corporation or Company to cause books to be kept by the Treasurer, Secretary, or other officers thereof, containing the names of all persons, alphabetically arranged, who are, or shall within six years have been stockholders of such Company, and showing their places of residence, the number of