The Laws of Texas, 1822-1897 Volume 1 Page: 1,509
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Laws of the Republic of Texas.
shares the sum of twenty dollars for each share applied for shall
be deposited with the commissioners, and the balance shall be
paid at such times, and upon such terms, as the President and
Directors may designate; provided, that no more than ten dollars
on each-share shall be called for at a time; and also provided,
that public notice in a Newspaper published at the seat
of government, be given for sixty days, and in case that any
of the stockholders neglect to pay any of the instalments after
being thus advised, at the expiration of said term, the shares,
as also the first or subsequent instalments which may have been
paid, shall be forfeited for the benefit of the company, and a
new subscription may be opened to cover any deficit occasioned
by said shares.
SEC. 6. Be it further enacted, That the President and Directors
of the said company shall prescribe the form of certificates
of shares of stock, and the manner of transferring such certificates,
but the transfer shall be made in a book to be kept for
the purpose by said company at their place of doing business,
which transfer shall be made in the presence of, and attested by,
either the president or secretary of said company, and a transfer
may be made by such shareholders in person, or by his, her,
or their agent: The power of attorney to such agent to be duly
proved and certified, and lodged with the president or secretary
of said company; provided, that no transfer shall be allowed to
be made on the transfer book, except it be done at least fifteen
days previous, or five days after the day of election, for Directors
as appointed in section fourth of this act.
SEC. 7. Be it further enacted, That books for the subscription
of the capital stock of said company shall be opened as
follows, viz: At the city of Houston, for two thousand shares
of said stock, under the superintendence of W. G. Cooke and
Asa Brigham; at the village of Austinia, for fifteen hundred
shares, under the superintendence of James F. Perry and George
L. Hammeken; at the town of Brazoria, for fifteen hundred
shares, under the superintendefice of Edmund Andrews and
Frederick A. Sawyer, and shall remain open until at least one
thousand shares are subscribed for, at which time due returns
of all the subscriptions shall be made to the commissioners sf
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Gammel, Hans Peter Mareus Neilsen. The Laws of Texas, 1822-1897 Volume 1, book, 1898; Austin, Texas. (texashistory.unt.edu/ark:/67531/metapth5872/m1/1517/: accessed May 27, 2017), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; .