- Title
- Public laws and resolutions passed by the General Assembly at its session of ...[1929]
-
-
- Date
- 1929
-
-
- Creator
- ["North Carolina."]
-
- Place
- ["North Carolina, United States"]
-
Public laws and resolutions passed by the General Assembly at its session of ...[1929]
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372
1
У21>—
On AI'TEK 314— si r>
Preamble,
Pamlieo County
authorized to
execute indem¬
nity bond to
Atlantic and
North Carolina
Railroad for
lost stock
certificate.
Pond to be with¬
out security.
Condition of
bond.
Railroad author¬
ized to deliver to
said County new
certificate for
one lost.
Sec. 6. This act shall bo in force and effect from and after
its ratification.
Ratified this the 19th day of March, A. i>. 1929.
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 eight 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 hundred and thirty-five for two hundred
and two (202) shares of the capital stock of said railroad, and
irftcreas, 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,
authorized 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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