15. In case it should at any time happen that an election of directors of the said company should not be made on any day when it should have been made under the provisions of this Act, the said company shall not thereby be or be deemed to have been dissolved, but it shall be lawful on any other day to hold and make an election in such manner as may be regulated by the directors for the time being and the directors in office shall so continue until their successors have been duly elected.

16. Subject to the provisions of this Act the directors shall have full power and authority to make and from time to time to alter such by-laws, rules, regulations and ordinances as shall appear to them proper or needful, touching the wellordering of the business of the company, the management and disposition of its stock, property, estate and effects, and in all things to administer the affairs of the company and to make or cause to be made for the company all contracts into which by law the company can enter and may from time to time make by-laws regulating the allotment of stock, the making of calls thereon, the payment thereof, the issue and registration of stock certificates, the forfeiture of stock for nonpayment, the disposal of such forfeited stock and the proceeds thereof, The transfer of stock, the declaring and payment of dividends, the number and term of service of directors, the appointment, functions, duties and removal of agents. officers and servants of the company, the security to be given by them, their remuneration, and that, if any, of the directors, the time and place of annual meetings of the company, the calling of meetings of the board or committee of directors and meetings of the company, the requirements as to proxies, the procedure in all things at meetings, the imposition and recovery of all penalties and forfeitures admitting of regulation by by-laws and the conduct and management in all other particulars of the affairs of the company and may from time to time repeal, amend or re-enact the same:

Provided always that all such by-laws made by the directors as aforesaid shall only be valid and binding until the next annual general meeting of shareholders; unless they are then approved by such meeting and shall thereafter have force and effect as so approved or modified at such meeting until amended or altered.

17. The company shall have power to acquire and hold real estate for the purpose of its business within this province of a total value not exceeding one hundred thousand dollars, and to sell and dispose of the same and acquire other property in its place as may be deemed expedient. and further to take, hold and acquire all such lands and tenements, real or personal estate as shall have been bona fide mortgaged to it by way of security or conveyed to it in satisfaction of debts pre

viously contracted in the course of its business, or purchased at sales upon judgments which shall have been obtained for such debts or purchased for the purpose of avoiding a loss to the company in respect thereof, or of the owner thereof, and to retain the same for a period not exceeding fifteen years from the acquisition thereof; and the company may invest its funds or any part thereof in any of the public securities of the Dominion of Canada or any of the provinces thereof or in the stocks of any banks or in the bonds or debentures of any incorporated city, town or municipality authorized to issue bonds or debentures or in mortgages or loans upon real estate or in real estate.

18. The company shall have power to amalgamate with or purchase the business of any other insurance company or to sell out and dispose of the business of the company to any other such company upon such terms and conditions as may be agreed upon, and it shall not impair the recourse or remedy of any creditor of either company to the transaction; but before the completion of any such amalgamation, purchase or sale the same must be approved of by two-thirds of the votes of the shareholders at an annual general meeting or a special general meeting called for the purpose.

19. The directors shall cause to be prepared and submitted to the shareholders at each annual general meeting a full and correct statement of the accounts of the company, a general abstract of the estimated liabilities and assets of the company and a list of shareholders showing the amount of stock held and the amount unpaid thereof respectively.

20. One or more auditors shall be appointed by the shareholders at each annual general meeting, whose report shall be embodied in the general statement of the affairs of the company submitted to the shareholders as provided in the next preceding section.

21. This Act and the company hereby incorporated and the exercise of the powers hereby conferred shall be subject to any general laws in force or that may hereafter be in force respecting insurance companies in virtue of any Ordinance or Act passed or which may be hereafter enacted by the Legislature of this province.

1907

CHAPTER 46.

An Act to Amend Chapter 30 of the Ordinances of the NorthWest Territories, 1904, intituled "An Ordinance to Incorporate the Sisters of Mercy of the North-West Territories."

(Assented to March 15, 1907.)

WHEREAS the Sisters of Mercy of the North-West Territories have by their petition prayed that certain amendments may be made to chapter 30 of the Ordinances of the North-West Territories, 1904, being an Ordinance incorporating the same;

And whereas it is deemed expedient to grant their prayer;

Therefore His Majesty, by and with the advice and consent of the Legislative Assembly of the Province of Alberta, enacts as follows:

1. The corporate name of the Sisters of Mercy of the NorthWest Territories is changed to "The Sisters of Misericorde or Alberta," under which corporate name the said corporation shall have the same powers, advantages, privileges, obligations and liabilities as enjoyed or liable to under the previous

name.

. 2. The said corporation shall have in addition to the powers heretofore enjoyed, the power to build, acquire, sell, alienate, exchange, mortgage, pledge or otherwise dispose of, conduct, pursue, promote, keep and maintain within the Province of Alberta one or more general hospitals, schools for trained nurses and such nurses shall be entitled, upon completing such course of training and passing such examination as may be required by the medical council of the North-West Territories or the medical council of the Province of Alberta, to receive a diploma issued by such corporation.

3. The said corporation shall have also the power to receive, keep and maintain for or without remuneration or compensation therefor, sick, aged, incurable and indigent persons, to maintain, board, lodge, clothe and educate for and without any remuneration or compensation or compensation any orphans or other children in a suitable manner until they shall respectively attain the age of twenty-one years or marry under that age as if the said corporation were an individual person and to make such agreement or agreements for adoption in the

same manner and with the like powers and with the same effect as if the said corporation was an individual person.

4. The sister superior in Alberta of the Order of Sisters of Misericorde shall be ex officio one of the directors, trustees and the president of the corporation. She shall preside at all meetings, and shall have the general supervision of the affairs. of this corporation, and she shall be the general executive. officer thereof. She shall fill all the vacancies in any office, she shall sign all orders, documents and papers requiring her signature and necessary for the performance by the corporation of any of its powers, and shall perform such other duties incumbent upon her, as required by the rules, by-laws and regulations of the Order of the Sisters of Misericorde and the corporation, and in her absence the vice-president of the said corporation shall have the like powers and perform like duties, but all orders, documents and papers shall be countersigned by the secretary of the corporation or in her absence by such temporary secretary as the president or the vice-president as the case may be shall appoint.

5. The said corporation is hereby empowered to receive grants, devises, gifts, and bequeaths from any government, municipalities, corporations, person or persons and to borrow from any corporation, individual or individuals, such sum or sums of money, at such rate or rates of interest and on such terms and for such length of time as to said corporation shall seem advisable or expedient, and the said corporation is also hereby empowered to grant, hypothecate, mortgage or pledge all or any portion of their estate, real or personal, including stocks, shares, bonds, debentures, promissory notes, bills of exchange or other securities of which they may at the passing of this Act or at any future time become seized, possessed or in any way interested in, to secure repayment of the moneys so borrowed when and so often as they may deem it expedient; and to make and execute under their common seal and the hand of their president for the time being, or her attorney or otherwise, according to the rules and by-laws of the said corporation, all proper deeds, mortgages, bonds, debentures and instruments, and to do all other acts, matters and things requisite or necessary to effect and accomplish all and singular the premises and all other things provided for by the powers hereby granted and such deeds, instruments and mortgages may contain such powers, terms and provisions as the said corporation shall consider expedient.

to.

6. This Act shall come into force on the day it is assented

1907

CHAPTER 47.

An Act to Incorporate the Lacombe General Hospital of

H

Lacombe.

(Assented to March 15, 1907.)

IS MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of Alberta, enacts as follows:

1. Henry Moorhouse Trimble, William Norman Morrison, Andrew Urquhart, Everett K. Strathy, William Franklin Puffer, John McKenty, William Burris, William John Simpson and Edward Montrose Sharpe, and such other persons as may from time to time become members of the corporation to be hereby incorporated, shall be and are hereby constituted a body politic and corporate by and under the name of "The Lacombe General Hospital of Lacombe."

2. The said corporation by the name of The Lacombe General Hospital of Lacombe shall have perpetual succession and a common seal; and by such name may from time to time and at all times purchase, acquire. receive, accept, build, hold, possess and enjoy, mortgage, sell, dispose of and convey for them and their successors any lands, tenements, hereditaments and real and movable property and estate within the Province of Alberta, together with such grants, devises, gifts and bequests as may be made by and received from the Government of the Dominion of Canada, the Province of Alberta, and any other corporation, person or persons whatsoever for the sole use and benefit of said hospital:

Provided always that the actual value of such real estate so held as aforesaid does not at any one time exceed the sum of thirty-five thousand dollars.

3. The affairs of the said corporation shall be managed by a board of directors consisting of nine members with power to add to their number, of whom five shall constitute a quorum; and the said Henry Moorhouse Trimble, William Norman Morrison, Andrew Urquhart, Everett K. Strathy, William Franklin Puffer, John McKenty, William Burris. William John Simpson and Edward Montrose Sharpe shall constitute the first board of directors and shall continue to hold office and act as such directors until their successors are elected as hereinafter provided.