C-42 - Timber-Driving Companies Act

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16. The affairs, stock, property and business of every such company shall, for the first year, be managed and conducted by five directors, to be named in the memorandum executed according to form 1, and thereafter by five directors to be annually elected by the stockholders, on the second Monday of December, according to the provisions of a by-law to be passed by the directors for that purpose.
R. S. 1964, c. 96, s. 16.