Constitution, rules, etc. Borrowing powers Execution of mortgages Application of moneys borrowed 2. The constitution, rules and regulations touching the administration of the said corporation shall be formulated at a general meeting thereof, called for that purpose, and of which at least ten days' notice shall be given by public advertisement or otherwise, to all the members thereof; and the constitution, rules and regulations then adopted shall, subject to the approval of the Attorney General, have full force and effect insofar as the same shall not be inconsistent with the laws in force in the Province of Alberta and the provisions of this Act: Provided always that the said corporation may from time to time, alter, repeal and change such constitution, rules and regulations in the manner herein provided, the amendments so made to be subject to the approval of the Attorney General as aforesaid. 3. The said corporation may, from time to time, borrow money, not to exceed in the whole the sum of one hundred thousand dollars ($100,000) at such rate of interest and upon such terms as they may deem proper; and may for such purpose make, execute or issue any mortgages, bonds or debentures, stock or other instruments, under the seal of the said corporation, which bonds or debentures or stock or other instruments shall operate subject to any mortgage given in part payment of the purchase money of real property acquired for a site for the club buildings or of the erection of such buildings and appurtenances thereto, as mortgages and charges against the lands and effects of the said corporation without registration; and each holder of any of the said debentures or bonds issued under the provisions of this section shall be deemed to be a mortgage and encumbrance pro rata with the other holders thereof upon any interest in any real estate held by the said corporation, and also upon any such interest in any policy or policies of insurance against loss or damage by fire effected upon the buildings owned by the corporation. 4. Any such mortgage, bond, debenture, stock or other instrument shall be signed by the president of the said corporation and countersigned by the secretary. 5. The moneys authorized to be raised under the provisions of section 3 of this Act shall be applied exclusively in the purchase of a site for the club buildings and in the purchase, improvement or erection of a club-house and dependencies thereon together with necessary furniture, or for the purchase of any freehold interest therein, and in the payment of any mortgage or charge thereon and for the redemption of the said debentures and any re-issues as they become due respectively from time to time and at all times. members 6. No member of the corporation shall be in any way Liability of liable for or chargeable with the payment of any debt or demand due by the said corporation beyond the extent of the entrance fee and annual subscriptions remaining unpaid by the said member and for any unpaid accounts he may have incurred to the said corporation for articles ordered by him in the said club; and any member of the said club not so indebted to the said corporation, may retire therefrom and will cease to be a member on giving notice to that effect in such forms as may be required by the constitution, rules and regulations of the said club and thenceforth shall be free from liability for any debt or engagement of the corporation. 7. The said corporation shall have power to draw, make, Powers of accept and endorse bills of exchange or promissory notes bills and notes necessary for the purpose of the said corporation, under the hands of the president and secretary thereof, after authority of the committee of the said corporation so to do; and in no case shall it be necessary that the seal of the corporation be affixed to any such bill or note, nor shall the president or secretary be individually liable or responsible therefor: Provided that nothing herein contained shall be construed to authorize the corporation to issue notes or bills of exchange payable to bearer, or intended to be circulated as money or as notes or bills of a bank. estate 8. Notwithstanding anything hereinbefore contained, the Leasing real said corporation shall have power to rent any portion of the real estate held by the said corporation upon such terms and for such periods as may be agreed upon. 9. The club hereby constituted shall be subject to provisions for the inspection, control and regulation clubs in the Province, which may hereafter be passed the Legislature. all Provisions of control and by regulation of 10. This Act may be cited as "The Douglas Club Act." clubs to apply Short title 1913 CHAPTER 67. An Act to Incorporate The Medicine Hat Golf and (Assented to March 25, 1913.) WHEREAS the persons hereinafter named and others are associated together as a club under the name of The Medicine Hat Golf and Country Club, to promote the physical welfare of its members and to encourage the games of golf, tennis, bowling and other games, hunting or any other form of exercise and for social purposes; and Whereas the said persons hereinafter named have prayed to be incorporated by the name of The Medicine Hat Golf and Country Club, and it is 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. Charles S. Pingle, Walter G. Lynch, Alfred J. N. Terrill, Robert Agnew, Henry W. Ireland, John Inwood, William A. Burton and William P. Dundon, and such other persons as are now or shall hereafter become shareholder members of the incorporation to be hereby incorporated, shall be and are hereby constituted a body politic and corporate by and under the name of The Medicine Hat Golf and Country Club, and by that name shall have perpetual succession and a common seal and shall have power from time to time and shall at all times be able and capable to purchase, lease, acquire, hold, possess and enjoy, and to have, take and receive for them and their successors, to and for the use and benefit of said corporation all lands, tenements, hereditaments and real and moveable property and estate situate whether within or without the limits of the City of Medicine Hat and the same to sell, alienate, exchange, lease and otherwise dispose of or encumber whensoever the said corporation shall deem it proper so to do and by the same means shall and may be enabled to sue and to be sued, to plead and to be impleaded, to answer and to be answered unto in any matter or cause whatsoever. 2. The members of the corporation shall have the sole power to frame a constitution and to make by-laws, rules and regulations for the management of the affairs of the corporation, including the regulating of the allotment and price of stock and forfeited stock and of the proceeds thereof and the transfer of stock, and the declaration and payment of dividends, regulating the issue of the club shares of stock and fixing the qualifications of persons who shall be competent to hold the same, the manner in which the same shall be held and formalities requisite to a valid transfer thereof and the persons to whom they may be transferred. The constitution, rules, by-laws and regulations of the corporation shall be formulated at a general meeting thereof called for that purpose and of which at least ten days' notice shall be given by public advertisement or otherwise to all members thereof, and the constitution, rules, by-laws and regulations then adopted shall have full force and effect in so far as the same shall, subject to the approval of the Attorney General not be inconsistent with the laws in force in the Province of Alberta and the provisions of this Act: Provided always that the said corporation may from time to time alter, repeal and change such constitution, rules and regulations in the manner herein provided. 3. The said corporation shall have a capital of $50,000.00 divided into 500 shares of $100.00 each, and only those holding at least one share in the said corporation shall be a member of the said corporation in full standing. Such shares shall and are hereby vested in the several persons to whom they shall be allotted, their legal representatives and assigns, subject to the provisions of this Act and the rules and regulations of the corporation: Provided, however, that the said club may by their rules and regulations allow others to become members with restricted privileges on such conditions as they think fit. 4. The said corporation may from time to time borrow money at such rate of interest and on such terms as they may deem proper, and for such purpose may make, execute and issue any mortgages, bonds, debentures or other instruments under the seal of the said corporation, and any such bonds, mortgages, debentures or other instruments, shall be signed by such officers as may be designated by the constitution or by-laws of the club. 5. Said corporation shall have power to draw, make, accept and endorse all bills of exchange and promissory notes necessary for the purposes of the said corporation under the hands of such officers as may be designated 24 by the by-laws or constitution of the club, and in no case shall it be necessary that the seal of the corporation shall be affixed to such bill or note nor shall such officer signing the same be liable or responsible therefor: Provided that nothing herein contained shall be construed to authorize the corporation to issue notes or bills of exchange payable to bearer or intended to be circulated as money or as notes or bills of a bank. 6. No member of the corporation shall be in any way liable for or chargeable with the payment of any debt or demand due by the said corporation beyond the amount unpaid on any share or the annual subscriptions remaining unpaid by the said member or for any other indebtedness to the club, and any members of the said club not so indebted to the said corporation may retire therefrom and cease to be a member on ceasing to be a holder of such share on the giving of a notice to the club in such form as may be required by the constitution or by-laws of the said club and thenceforth shall be free from any liability for any debt or engagement of the corporation. 7. The said corporation shall have full power to erect new buildings or improve their real estate and do all things necessary for the carrying out of the objects of the said corporation. 8. Notwithstanding anything hereinbefore contained the said corporation shall have power to rent any portions of the real estate held by the said corporation upon such terms and for such periods as may be agreed upon. 9. The persons named in section 1 of this Act shall be the first board of management of the said corporation with full power to administer the affairs thereof until such time as other officers are elected. The affairs of the club shall be managed by a board of eight directors who shall be styled the board of management, the number of directors and their term of office being subject to change by the members. 10. The club hereby constituted shall be subject to all provisions for the inspection, control and regulation of clubs in the province which may hereafter be passed by the Legislature. 11. This Act may be cited as the "Medicine Hat Golf and Country Club Act." |