meet at such time and place as they may agree upon, and when so met to organize themselves into a body corporate, by choosing a president and a secretary, and agreeing upon a name and articles of association, by the time [terms] of which the rights of the bona fide claimants of such lands shall be protected, and by choosing three trustees of such corporation; such articles of association shall define the duty of such trustees, and shall also determine the tenure of its officers, and the time and manner of holding of (the meetings of) such corporation.
Sect. 2. The trustees of such corporation shall have power to establish all such by-laws as may be needful and consistent with the provisions of this act.
Sect. 3. The president and secretary of the first meeting shall cause a certified copy of the doings of said first meeting to be recorded in the office of the register of deeds in the county where such land is situated, and such record shall be evidence of the incorporation and corporate existence of the company therein named.
Sect. 4. The president so as aforesaid chosen, and his successor in office, shall have full power and authority to enter or purchase said lands at the proper land-office, in trust for the corporation whom they represent, according to the provisions of the laws of the United States in relation to town sites, and to convey the same to the proprietors thereof, according to their respective interests therein, according to the laws of this territory.
Sect. 5. This act shall take effect from and after its passage, and approval by the governor.
- Approved May 19, 1862.
