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372 1929—Chapter 314—315
Sec. 6. This act shall be in force and effect from and after
its ratification.
Ratified this the 19th day of March, A. D. 1929.
Preamble.
Pamlico County
authorized to
execute indem-nity
bond to
Atlantic and
North Carolina
Railroad for
lost stock
certificate.
Bond to be with-out
security.
Condition of
bond.
Railroad author-ized
to deliver to
said County new
certificate for
one lost.
CHAPTER 315
AN ACT TO ENABLE THE COUNTY OF PAMLICO TO
EXECUTE AN INDEMNIFYING BOND WITHOUT
SECURITY TO THE ATLANTIC AND NORTH CARO-LINA
RAILROAD UNDER THE CONDITIONS HEREIN-AFTER
STATED.
Whereas, on August eighteenth, one thousand eiglit hun-dred
and ninety-six the Atlantic and North Carolina Railroad
Company issued to the County of Pamlico stock certificate num-ber
three thousand six hundi'ed and thirty-five for two hundred
and two (202) shares of the capital stock of said railroad, and
Whereas, said certificate has been lost or destroyed, and,
Whereas, said Pamlico County is now demanding a new certi-ficate
and doubts have been expressed as to its authority to give
the said Atlantic and North Carolina Railroad Company an
indemnifying bond, in order to obtain a new certificate, in lieu
of the lost or destroyed certificate, therefore,
The General Assembly of North Carolina do enact:
Section 1. That the County of Pamlico be, and it is hereby,
authoi'ized and empowered to execute to the Atlantic and North
Carolina Railroad Company its bond without security, con-ditioned
as follows:
That if the said County of Pamlico shall, in case the said
certificate shall be found, cancel and deliver up the same to the
said Atlantic and North Carolina Railroad Company, and shall
at all times hereafter indemnify and keep indemnified the said
Atlantic and North Carolina Railroad Company, from and
against all damages, costs, expenses, actions, claims and de-mands
whatever, which it, the said Atlantic and North Carolina
Railroad Company may or might otherwise, at any time, sus-tain,
suffer or be subject or liable to, under and by reason of
the said certificate of stock, then this obligation shall be void,
but otherwise remain in full force and effect.
Sec. 2. The said Atlantic and North Carolina Railroad Com-pany,
upon receipt of said indemnifying bond, properly ex-ecuted,
is authorized and empowered to receive the same and to
issue to Pamlico County a new certificate of stock for the two
hundred two (202) shares in lieu of the lost certificate num-ber
three thousand six hundred and thirty-five.
Object Description
Description
| Title | Page 462 |
| Full Text | 372 1929—Chapter 314—315 Sec. 6. This act shall be in force and effect from and after its ratification. Ratified this the 19th day of March, A. D. 1929. Preamble. Pamlico County authorized to execute indem-nity bond to Atlantic and North Carolina Railroad for lost stock certificate. Bond to be with-out security. Condition of bond. Railroad author-ized to deliver to said County new certificate for one lost. CHAPTER 315 AN ACT TO ENABLE THE COUNTY OF PAMLICO TO EXECUTE AN INDEMNIFYING BOND WITHOUT SECURITY TO THE ATLANTIC AND NORTH CARO-LINA RAILROAD UNDER THE CONDITIONS HEREIN-AFTER STATED. Whereas, on August eighteenth, one thousand eiglit hun-dred and ninety-six the Atlantic and North Carolina Railroad Company issued to the County of Pamlico stock certificate num-ber three thousand six hundi'ed and thirty-five for two hundred and two (202) shares of the capital stock of said railroad, and Whereas, said certificate has been lost or destroyed, and, Whereas, said Pamlico County is now demanding a new certi-ficate and doubts have been expressed as to its authority to give the said Atlantic and North Carolina Railroad Company an indemnifying bond, in order to obtain a new certificate, in lieu of the lost or destroyed certificate, therefore, The General Assembly of North Carolina do enact: Section 1. That the County of Pamlico be, and it is hereby, authoi'ized and empowered to execute to the Atlantic and North Carolina Railroad Company its bond without security, con-ditioned as follows: That if the said County of Pamlico shall, in case the said certificate shall be found, cancel and deliver up the same to the said Atlantic and North Carolina Railroad Company, and shall at all times hereafter indemnify and keep indemnified the said Atlantic and North Carolina Railroad Company, from and against all damages, costs, expenses, actions, claims and de-mands whatever, which it, the said Atlantic and North Carolina Railroad Company may or might otherwise, at any time, sus-tain, suffer or be subject or liable to, under and by reason of the said certificate of stock, then this obligation shall be void, but otherwise remain in full force and effect. Sec. 2. The said Atlantic and North Carolina Railroad Com-pany, upon receipt of said indemnifying bond, properly ex-ecuted, is authorized and empowered to receive the same and to issue to Pamlico County a new certificate of stock for the two hundred two (202) shares in lieu of the lost certificate num-ber three thousand six hundred and thirty-five. |
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