CHAPTER 126. An Act to amend "An Act to incorporate 'The Manitoba W [Assented to April 6th, 1912.] HEREAS "The Manitoba Permanent Loan Company" Preamble. have represented by their petition that they were incorporated under the authority of chapter 92 of the statutes of Manitoba passed in the first year of the reign of His Majesty George v, intituled "An Act to incorporate the Manitoba Permanent Loan Company" and have prayed that it bo enacted as hereinafter set forth; and whereas it is expedient to grant the prayer of their petition, Therefore His Majesty, by and with the advice and consent of the Legislative Assembly of Manitoba, enacts as follows: name 1. The recital to the said Act is hereby amended by Recital striking out the words "The Manitoba Permanent Loan Com- amended, pany" where the same occur in the ninth line thereof and changed. substituting therefor "The British Crown Mortgage Company of Canada.” amended. 2. Section 1 of the said Act is hereby amended by strik- Sec. 1 ing out the words "The Manitoba Permanent Loan Company" where the same occur in the fourth and fifth lines thereof and by substituting therefor the words "The British Crown Mortgage Company of Canada." 3. Section 3 of the Act is hereby amended by striking sec. 3 out the word "ten" where the same occurs in the second line amended. thereof and substituting therefor the word "twenty," and by striking out the words "one hundred" in the said second line thereof and substituting therefor the word "fifty." 4. This Act shall come into force on the day it is assented to. CHAPTER 127. An Act to amend "An Act respecting Associations for Preamble. Sec. 14 amended. Acquisition of outside lands. [Assented to March 26th, 1912.] WHEREAS doubts have arisen as to the rights and powers of associations established or incorporated under the provisions of chapter 95, passed in the first year of the reign of His Majesty King George the Fifth, and it is desirable that such doubts should be removed. Therefore His Majesty, by and with the advice and consent of the Legislative Assembly of Manitoba, enacts as follows: 1. That the said Act be amended by adding the following sub-sections to section 14:— (a) Any association established under this Act shall be entitled to acquire lands outside the limits of the city wherein it is established as well as within such city, and erect Improvement churches, parsonages and other buildings required outside the limits of said city, and shall have all the powers in relation thereto given by this Act; of. Trustee may convey to association. (b) Any person or persons or corporation in whose name or names any title to lands, or any interest therein, is vested in trust for the Methodist Church, or the congregation of any church or mission thereof, or a majority of such persons, whether such trust appears in or by the registered or other title thereof or not, shall have power to transfer or convey such land or interest therein to any such association; provided that if said land is more than ten miles from the city where such association is established, such transfer or conveyance shall require the assent of the annual conference or its special committee, and such conveyance or transfer being made, such person or persons or corporation shall be discharged from all trusts in respect to the lands so transferred or conveyed. 2. This Act shall come into force on the day it is as sented to. CHAPTER 128. An Act to incorporate "The Oberon Scandinavian Club." [Assented to April 6th, 1912.] WHEREAS certain persons are associated together in Preamble. the City of Winnipeg, in the Province of Manitoba, under the name of "The Oberon Scandinavian Club," with the object of promoting athletic games, sports and exercises amongst its members, and establishing and maintaining recreation grounds and club facilities at a suitable place in the City of Winnipeg, and for promoting social intercourse between its members, and have by their petition prayed that they may be incorporated for the more effectual carrying out of the aims and objects of the said association, with the powers hereinafter provided; and whereas it is expedient to grant the prayer of such petition, Therefore His Majesty, by and with the advice and consent of the Legislative Assembly of Manitoba, enacts as follows: Incorporation 1. Charles Gustafson, Endre Johannessen Cleven, Alfred Lundgren, Ernest Sunburg and John Amil Petersen, all of the City of Winnipeg, and such other persons as shall hereinafter become shareholders, are hereby constituted a body corporate and politic in law and in fact under the name of "The Oberon Scandinavian Club," and by that name Name. may sue and be sued, plead and be impleaded, in all courts and places whatsoever. 2. The said corporation shall have perpetual succession Seal. and a common seal, and shall have power from time to time to renew, alter or change the said seal, and the corporation is hereby authorized, in the carrying out of its objects, to acquire by lease, purchase, gift, issuing of its capital stock, or otherwise, and to own, hold and possess, property, real, Acquisition personal and mixed, and stock of other corporations; provided that such real property shall not exceed in value the sum of seventy-five thousand dollars ($75,000), at such Limit of. prices and upon such terms and conditions as may be agreed on, and to mortgage, lease, sell or otherwise dispose of the Dealing same, and to improve and use the same by the construction of property. with. of such buildings, and to make such provision for athletic games and sports, works and improvements, either inside or outside the property of the said association, as are or may be necessary or deemed proper. The corporation shall have Purchase of the power to purchase from time to time and at all times upon credit or for cash all such goods or supplies as may be considered necessary by the committee for the purposes of the corporation, and shall have power to buy, sell and deal in all classes and descriptions of goods necessary and expedient for the furtherance of the objects of the corporation. supplies. Capital stock. Transfer subject to consent of committee. management. Election of. 3. The capital stock of the corporation shall not exceed the sum of twenty-five thousand dollars ($25,000), divided into two hundred and fifty (250) shares of one hundred dollars ($100) each. No transfer of shares shall be made except by the consent of the committee hereinafter named. All shares shall be transferred on the books of the corporation in such manner and subject to such restrictions and regulations as may be imposed by the by-laws of the corporation, and calls may be made upon such stock in such instalments and upon such notice as shall be regulated by the by-laws of the corporation. Committee of 4. The affairs of the corporation shall be under the management of a committee composed of the president, vicepresident, secretary-treasurer and six others, all of whom shall be elected at the annual meeting of the shareholders called for that purpose, in such manner and at such time and place as the by-laws of the corporation may provide, and, in the absence of a by-law, then as the committee shall decide. The election of the committee and all other questions voted on at a meeting of the shareholders, except as hereinafter provided, shall be decided by a majority of votes of the shareholders personally present, each shareholder being entitled to one vote for each share of stock held by him, and voting by proxy shall not be allowed except as hereinafter provided. The committee shall continue in office for one year and until their successors have been appointed, and, if any vacancy shall occur in the committee during the year, the same shall be filled by the committee by appointment. Manner of voting. Tenure of office. First committee. Powers of committee. 5. The persons named in the first paragraph hereof shall constitute the first committee, and they shall hold office until their successors are appointed in accordance with this Act or the by-laws of the corporation, and the association may by by-law provide for the retirement of some of the committee only each year. 6. The committee shall have power to make by-laws, rules and regulations, not contrary to law or to the provisions of with stock. of officers, this Act, with power to amend, repeal and react the same, for all purposes relating to or bearing on the affairs, business and property of the corporation, its management, govern- Management ment, aims, objects and interests, to regulate the allotment of affairs. of stock, the making of calls thereon, the payment thereof, the issue and registration of certificates of stock, the forfeiture of stock for non-payment, the disposal of forfeited stock and the proceeds thereof, the transfer of stock, the Dealings term of service of officers and committee, the appointment and functions, duties and removal of all agents, servants and officers of the corporation, the security to be given by them to the corporation, their remuneration, the time at Appointment which and place where the annual meeting shall be held, etc. the calling of meetings, regular and special, of the committee and of the corporation, the quorum and procedure in all things at such meetings, the imposition and recovery of all forfeitures and penalties admitting of regulation by by-law, Admission of the admission of honorary members to the privileges of the corporation, the fixing of the amount of admission and annual fees and the collection thereof, the suspension and expulsion of members, the forfeiture of stock for transgression of the by-laws of the corporation, the expulsion of members Expulsion of for cause shown and forfeiture of such expelled members' stock, and the conduct in all other particulars of the affairs of the corporation. members. , members. held only by 7. No share or shares of the capital stock of the corpora- Shares to be tion can be held or owned by any partnership or corpora- individuals. tion, and the holder of a share shall not be entitled to any of the privileges of the association, house or grounds, or be capable of being elected one of the committee, or to attend shareholder or vote at any meeting of the shareholders or the corporation, to privileges unless and until such person has been duly elected and then unless a is a member of the corporation in good standing, pursuant to the by-laws and rules and regulations. not entitled member officers. 8. No remuneration shall be paid to any member of Payment of the committee as such or by virtue of any office occupied by him, except as authorized by by-laws of the corporation. limited. 9. No shareholder or member of the committee shall be Liability of personally liable for the debts, torts, contracts or liabilities members of the corporation beyond the amount remaining unpaid on his shares. money on 10. The corporation shall have power from time to time Borrowing to borrow money, and for such purposes may raise or borrow negotiable any sum or sums of money by the issue of negotiable instru- instruments ments, bonds, debentures or other instruments, on such terms as it may think proper, and may pledge or mortgage all the or mortgage. |