The Laws of Texas, 1822-1897 Volume 7 Page: 1,507
This book is part of the collection entitled: Gammel's Laws of Texas and was provided to The Portal to Texas History by the UNT Libraries.
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Laws of the State of Texas.
807
ever be elected to any office enumerated in this section, or
be chosen to any position of honor or trust by said company.
See. 4. That the incorporators herein named shall constitute
the first directory, and as such they shall control the
affairs of said company for one year from and after the permanent
organization of the same as herein provided; and
they shall, within sixty days after the passage of this act, at
El Paso, proceed to effect a preliminary organization of said
company, and shall elect from their number a president, secretary
and treasurer, and such other officers as may be required,
whose terms of office shall be for one year, or until
their successors shall qualify, from and after the time said
company shall be permanently organized in accordance vith
the provisions of the next succeeding section of this act.
Sec. 5. That within ninety days after the preliminary organization
of said company shall have been effected, and before
proceeding to carry out the objects and aims of this
charter, said incorporators shall jointly execute to the Comptroller
of the State of Texas, a good and sufficient bond, in
the sum of twenty-five thousand dollars, conditioned that they
and their associates and successors will, in good faith, carry
out the provisions of this agreement made and entered into
by and between the State of Texas and the said incorporators
and their associates and successors as aforesaid; and upon the
filing of said bond, said company may proceed to business.
Sec. 6. The secretary and treasurer of said company shall
at all times, before entering officially upon their duties, enter
into bond respectively with said company, with two or more
good and sufficient sureties, in the sum of ten thousand dollars,
conditioned for the just and faithful performance of all
duties devolving upon them in their official capacities; said
bonds shall be deposited for safe keeping with such person
or persons as said directors shall advise, and they shall not
be forfeitable on the first recovery.
Sec. 7. The bonds required to be executed by the
secretary and treasurer, as herein provided, may be canceled
at any time by the directory of said company, and
the secretary and treasurer be required to renew the same,
in such greater amounts as the business and greater security
of the said company may seem to demand.(1507)
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Gammel, Hans Peter Mareus Neilsen. The Laws of Texas, 1822-1897 Volume 7, book, 1898; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth6732/m1/1509/?rotate=90: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; .