wise, as may be required to evidence the vesting in the new Company, its successors and assigns, the full legal, equitable and beneficial title and interest to and in the said assets, rights, credits, effects and property, and each and every part thereof. And in consideration of the foregoing, the new Company covenants with the old Company, its successors and assigns, that it shall and will pay, discharge and carry out and perform all debts, liabilities, obligations, contracts and duties for or in respect of which the old Company is now liable or which it should pay, discharge, carry out or perform; and the new Company shall and will indemnify and save harmless the old Company in respect thereof. In witness whereof, etc. OTTAWA: Printed by SAMUEL EDWARD DAWSON, Law Printer to the Queen's most Excellent Majesty. CHAP. 96. An Act to incorporate the Congregation of the Most [Assented to 14th June, 1900.] HEREAS the persons hereinafter named have, by their Preamble. petition, prayed that it be enacted as hereinafter set forth, and it is expedient to grant the prayer of the said petition: Therefore Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows: tion. 1. The Reverend Fathers Alphonse Lemieux, Edward IncorporaStrubbe, Louis Savard, Edmond Flynn and Gustave Vermeiren, members of the Religious Community of the Congregation of the Most Holy Redeemer, together with such persons as become members of the congregation, are hereby incorporated under the name of "The Congregation of the Most Holy Redeemer," Corporate hereinafter called "the Congregation." name. 2. Only persons belonging to the religious community Who may be known in the Roman Catholic Church under the name of members. "The Congregation of the Most Holy Redeemer" may be members of the Congregation. 3. The persons named in section 1 of this Act shall be the First first directors of the Congregation. directors. directors. 2. The board of directors of the Congregation shall consist Number of of five members, of whom three shall be a quorum. etc. 3. The board may make by-laws, rules and regulations for Power to the administration of the property, management and internal make by-laws, government of the Congregation, the election, number and power of its officers, the admission and retirement of its members, the number and place of meeting of the directors, and generally all necessary by-laws consistent with the laws of Canada. of board. 4. The Superior of the said community in the city of President Montreal shall be, ex officio, the president of the board of directors. Corporate seat. Branches. Objects. Property. Return to when required. 4. The Congregation shall have its corporate seat in the city of Montreal, but it may establish houses in different parts of Canada for the purposes for which the Congregation is incorporated. 5. The objects of the Congregation are: (a.) the maintenance of public worship; (b.) the religious education of the people and especially that of the poor and abandoned, particularly by holding missions in cities, towns, villages and parishes; (c.) taking spiritual charge temporarily of small congregations which cannot afford to support a priest; (d.) giving a moral education, particularly to poor and orphan children; (e.) helping in missions and education, within the limits of its duties; (f.) the maintenance of public cemeteries connected with buildings devoted to public worship under its care, and the construction and maintenance of halls attached or belonging to the buildings devoted to public worship under its care, for the public purposes of such buildings respectively; (g.) all other works depending upon those above mentioned, and all other works connected with the objects set out in this section. 6. The Congregation may, for the purposes of its incorporation only, acquire and hold property and dispose thereof; provided that the annual value of any real property held by the Congregation shall not exceed twenty thousand dollars. 7. The Congregation shall, at all times when required, make a full return under oath, showing the number of its institutions, the property, real and personal, held by, or in connection with, each such institution, the income derived from such property, and such other information relating thereto as is required by the Governor in Council or by either House of Parliament. OTTAWA: Printed by SAMUEL EDWARD DAWSON, Law Printer to the Queen's most Excellent Majesty. CHAP. 97. An Act to incorporate the Crown Life Insurance Company. [Assented to 14th June, 1900.] HEREAS the persons hereinafter named have, by their Preamble. petition, prayed that it be enacted as hereinafter set forth, and it is expedient to grant the prayer of the said petition: Therefore Her Majesty, by and with the advice and consent of the Senate and House of Commons of Canada, enacts as follows: tion. 1. George Harley Roberts, Charles W. Taylor, William IncorporaBarclay McMurrich, Norman Macrae and George Hughes Watson, of the city of Toronto, in the province of Ontario, together with such persons as become shareholders in the company, are incorporated under the name of "The Crown Corporate Life Insurance Company," hereinafter called "the Company." " name. 2. The persons named in section 1 of this Act, together Provisional with such persons, not exceeding six, as they associate with directors. them, shall be the provisional directors of the Company, a majority of whom shall be a quorum for the transaction of business, and they may forthwith open stock-books, procure subscriptions of stock for the undertaking, make calls on stock subscribed and receive payments thereon, and shall deposit in a chartered bank in Canada all moneys received by them on account of stock subscribed, or otherwise received by them on account of the Company, and shall withdraw the same for the purposes only of the Company, and may do generally what is necessary to organize the Company. 3. The capital stock of the Company shall be one million Capital stock. dollars, divided into shares of one hundred dollars each. 4. As soon as two hundred and fifty thousand dollars of the First general capital stock of the Company have been subscribed and ten meeting. per cent of that amount paid into some chartered bank in Canada, the provisional directors shall call a general meeting Election of directors. Qualification. Calls. of the shareholders of the Company at some place to be named in the city of Toronto, at which meeting the shareholders present or represented by proxy, who have paid not less than ten per cent on the amount of shares subscribed for by them, shall elect a board of not less than seven nor more than twentyfive directors, of whom a majority shall be a quorum. 2. No person shall be a director unless he holds in his own name and for his own use at least twenty-five shares of the capital stock of the Company, and has paid all calls due thereon and all liabilities incurred by him to the Company. 5. The shares of the capital stock subscribed for shall be paid by such instalments and at such times and places as the directors appoint; the first instalment shall not exceed twentyfive per cent and no subsequent instalment shall exceed ten per cent, and not less than thirty days' notice of any call shall be given; provided that the Company shall not commence the business of insurance until sixty-five thousand dollars of the commenced. capital stock have been paid in cash into the funds of the Company, to be appropriated only for the purposes of the Company under this Act; provided further that the amount so paid in by any shareholder shall not be less than ten per cent of the amount subscribed by such shareholder. When business may be Increase of capital, Head office. Branches. Annual general meeting. Business. 6. The directors may, after the whole capital stock has been subscribed and five hundred thousand dollars have been paid thereon in cash, increase the amount of the capital stock, from time to time, to an amount not exceeding two million dollars, but the stock shall not be increased until a resolution of the board of directors authorizing such increase has been first submitted to and confirmed by a majority of the shareholders representing at least, two-thirds in value of the subscribed stock of the Company, present at a special meeting of the shareholders duly called for the purpose of considering such by-law. 7. The head office of the Company shall be in the city of Toronto, in the province of Ontario. 2. The directors may, from time to time, establish branches, sub-boards or agencies, either within Canada or elsewhere, in such manner as the directors from time to time appoint. 8. A general meeting of the Company shall be called once in each year after the organization of the Company and commencement of business, at its head office, and at such meeting a statement of the affairs of the Company shall be submitted. 9. The Company may effect contracts of life insurance with any person, and may grant, sell or purchase annuities, grant endowments, and generally carry on the business of life insurance in all its branches and forms. |