APPENDIX III.

The Business Corporation Law of New York.    Chapter 460

of the Laws of 1896 :

Section II. Three or more persons may become a stock corpora¬
tion for any lawful business purpose or purposes other than a moneyed
corporation or a corporation provided for by the banking, the insur¬
ance, the railroad and the transportation corporation laws, by making,
signing, acknowledging and filing a certificate which shall contain:

1.    The name of the proposed corporation.

2.    The purpose or purposes for which it is to be formed.

3.    The amount of the capital stock and if any portion be pre¬
ferred stock, the preferences thereof.

4.     The number of shares of which the capital stock shall con¬
sist, each of which shall not be less than five nor more than one
hundred dollars, and the amount of capital not less than $500 with
which said corporation will begin business.

5.    The city, village, or town in which its principal business office
is to be located.

6.    Its duration.

7.    The number of its directors, not less than three nor more than
thirteen.

8.     The names and post office addresses of the directors for the
first year.

9.    The names and post office addresses of the subscribers and a
statement of the number of shares of stock which each agrees to take
in the corporation.

The certificate may contain any other provisions for the regulation
of the business and the conduct of the affairs of the corporation, and
any limitation upon Its powers and upon the powers of its directors
and stockholders which does not exempt them from any obligation or
from the performance of any duty imposed by law.