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$ 50 amended,
AN ACT to amend the stock corporation law, in relation to voting trust
agreements. Became a law March 12, 1925, with the approval of the Governor. Passed,
three-fifths being present. The People of the State of New York, represented in Senate and Assembly,
do enact as follows: L. 1909, Section 1. Section fifty of chapter sixty-one of the laws of nine
teen hundred and nine, entitled “An act relating to stock corporah...-1933, tions, constituting chapter fifty-nine of the consolidated laws,
such chapter having been last amended throughout by chapter seven hundred and eighty-seven of the laws of nineteen hundred and twenty-three, is hereby amended to read as follows:
$ 50. Voting trust agreements. A stockholder, by agreement in writing, may transfer his stock to a voting trustee or trustees for the purpose of conferring the right to vote thereon for a period not exceeding ten years upon the terms and conditions therein stated. Every other stockholder may transfer his stock to the same trustee or trustees and thereupon shall be a party to such agreement. The certificates of stock so transferred shall be surrendered and canceled and new certificates therefor issued to such trustee or trustees in which it shall appear that they are issued pursuant to such agreement, and in the entry of such ownership in the proper books of such corporation that fact shall also be noted, and thereupon such trustee or trustees may vote upon the stock so transferred during the term of such agreement. A duplicate of every such agreement shall be filed in the office of the corporation and at all times during business hours be open to inspection by any stockholder or his attorney.
1 This section shall not apply to a banking corporation.
§ 2. This act shall take effect immediately.
added to 1.. 1909, cb. 33.
three-fifths being present.
Section 1. Chapter thirty-three of the laws of nineteen hundred and nine, entitled “An act in relation to insurance corporations, constituting chapter twenty-eight of the consolidated laws,” is hereby amended by adding a new section at the end of article one, to be section sixty-nine to read as follows:
8 69. Reinsurance corporations. Thirteen or more persons may become a stock corporation for the purpose of making only con
1 Following sentence new.
tracts of reinsurance with any other insurer, covering the risks provided for in any one of sections seventy, one hundred and ten or one hundred and fifty of this chapter, by filing in the office of the superintendent of insurance a declaration and charter to conform with what has been prescribed for the provisions of any such declaration and charter for the respective kinds of corporations mentioned in said sections of this chapter, including the making of publication of notice of intention to so organize and meeting the requirements prescribed for corporations separately formed under articles two, three and/or four of this chapter.
§ 2. This act shall take effect immediately.
AN ACT to amend the highway law, in relation to the designation of a sys
tem of state and county highways to be constructed and maintained by
the state. Became a law March 12, 1925, with the approval of the Governor. Passed,
three-fifths being present. The People of the State of New York, represented in Senate and Assembly, do enact as follows:
Section 1. Subdivision seven of section one hundred and twenty L. 1909, of chapter thirty of the laws of nineteen hundred and nine, en 120, titled “An act relating to highways, constituting chapter twenty. subenda five of the consolidated laws, as last amended by chapter two hundred and seventy-seven of the laws of nineteen hundred and twenty-four, is hereby amended to read as follows:
Route 7. Commencing at the city of Binghamton, thence northerly through the village of Port Dickinson on highways fifty-four hundred forty, fifty-five hundred six and one hundred thirty-four, thence easterly on highways one hundred seventy-five, fifty-two hundred forty-two, two hundred sixty-six, fifty-two hundred fortytwo, two hundred sixty-six and fifty-two hundred forty-three to the hamlet of Harpursville, thence northeasterly on highways two hun. dred and ten, fifty-two hundred and two hundred nine to the divid. ing line between Broome and Chenango counties, thence northeasterly through the villages of Afton and Bainbridge on highways fifty-two hundred, fifty-two hundred sixty-one, fifty hundred thirteen, fifty-four hundred fifty-four, fifty hundred thirteen and fifty-two hundred sixteen to the dividing line between Chenango and Otsego counties near the village of Sidney, thence northeasterly through the villages of Unadilla and Otego on highways seven hundred and eight, fifty-two hundred two, fifty-two hundred twenty-nine, fifty-one hundred fifty-three, seven hundred eightytwo, six hundred seventy-five, three hundred seventeen and six hundred seventy-five to the city of Oneonta, thence northeasterly through the village of Schenevus on highways seven hundred
1 L. 1924, ch. 277, does not amend subd. 7. Subd. 7 previously amended by L. 1921, ch. 18.
eighty-seven, one hundred sixty-two, three hundred sixteen, fifty-
§ 2. Section one hundred and twenty of such chapter is hereby
Route 24-a. Commencing on state route twenty-four, as defined by the highway law, in the county of Franklin, at a point to be determined by the commission, approximately opposite the head, or southerly end, of Big Tupper lake; thence northwesterly across the dividing line between the counties of Franklin and Saint Lawrence and across the Bog river to the veterans' mountain camp of the American Legion, Department of New York, Incorporated, a distance of about three and one-half miles. The commission shall construct the necessary bridge across Bog river, and such bridge shall be deemed part of such highway.
§ 3. Subdivision thirty: of section one hundred and twenty of such chapter is hereby amended to read as follows:
Route 30. Commencing at route twenty-two in the village of Rouses Point, thence westerly through the villages of Champlain and Mooers on highways fifty-two hundred twenty-eight, fiftyseven, one hundred thirty-six, fifty-six hundred forty-seven, six hundred fifty-two, ten hundred eight, fifty-one hundred two, fifty. four hundred eighty-five and fifty-five hundred twenty to the dividing line between Clinton and Franklin counties, thence westerly through the village of Chateaugay and southwesterly on highways fifty-four hundred sixty-eight, fifty-six hundred thirteen and fifty-six hundred two into the village of Malone, thence westerly through the village of North Bangor on highways fifty-six hundred two, seven hundred one, fifty hundred thirty-one, fifty hundred seventy-six and fifty-two hundred eighty-four to the dividing line between Franklin and Saint Lawrence counties, thence southwesterly through the hamlet of Lawrenceville and southerly on highway fifty-two hundred eighty-four to the hamlet
| 120, snbd. 30 amended.
of Nicholville, thence westerly on highways fifty-two hundred
$ 120, subd. 35 amended.
tween Monroe and Orleans counties, thence westerly on the Ridge road through the hamlets of Murray, Gaines and Oak Orchard to the hamlet of Ridgeway, thence westerly on highways fifty-five hundred fifty-six and fifty-four hundred twenty-three to the dividing line between Orleans and Niagara counties, thence westerly on the Ridge road on highways fifty-four hundred thirty-one, fiftythree hundred nineteen, fifty-four hundred sixteen and fifty-four hundred seventeen through the hamlet of Cambria to Woods Corners, thence southerly on highways fifty-four hundred seventeen and seven hundred forty to the hamlet of Sanborn thence westerly on highways seven hundred and forty and fifty-three hundred five to the city of Niagara Falls.
§ 4. Subdivision thirty-five of section one hundred and twenty of such chapter is hereby amended to read as follows:
Route 35. Commencing at the dividing line between ?Nassau and Suffolk counties, thence easterly on the Jericho turnpike on highways fifty hundred eight, fifty-one hundred eleven, fifty-one hundred twelve and fifty-two hundred thirty-two to the hamlet of Smithtown Branch, thence northeasterly on highway fifty-two hundred thirty-two to the hamlet of Port Jefferson, thence southeasterly on highway nine-hundred twelve to the hamlet of Echo, thence easterly on the south side of the Long Island railroad to the hamlet of Wardenclyffe, thence easterly to the hamlet of Wading river, thence southeasterly to the Middle Island road, thence easterly to the hamlet of River. head, thence southerly on highway six hundred ninety-four to the south country road in the hamlet of Quogue.
§ 5. Subdivision fiftys of section one hundred and twenty of such chapter is hereby amended to read as follows:
Route 50. Commencing at route forty-nine near the hamlet of Fargo, Jefferson county, thence easterly to the dividing line between Jefferson and Lewis counties in the hamlet of Natural Bridge, thence northeasterly to the dividing line between Lewis and Saint Lawrence counties in the village of Harrisville, thence northeasterly to the hamlet of Fine, thence southeasterly to the hamlet of Star Lake, thence easterly and northerly through the hamlet of Benson Mines thence southeasterly along an old railroad grade as far as practicable to a point north of Wanakena, thence
$ 120, subd. 50 amended.
6 As amended by L. 1921, ch. 18.
7 Words omitted which read: “the city of New York and the county of Nassau, thence easterly on highways fifty-one hundred six, fifty-two hundred eighty, fifty hundred fifty-one, fifty-one hundred six, fifty-five hundred five and five hundred forty-seven, thence northerly on highways five hundred forty-seven and fifty-five hundred five to the hamlet of Brookville, thence easterly on the North Hempstead turnpike on highway eight hundred ninetyeight, thence southerly on highway five hundred forty-eight through the hamlet of Syosset to the Jericho turnpike, thence easterly on highway four hundred thirty-six to the dividing line between.”
8 As amended by L. 1924, ch. 277.
9 Words "thence southeasterly along an old railroad grade as far as practicable to a point north of Wanakena," substituted for words "and Newton Falls to a point about one and one-half miles northerly from said hamlet of Benson Mines near the farm house of the Nowton Falls Paper Company."