Section to be amended. Common council to levy tax for park purposes. CHAPTER CXVII. An Act to amend an act entitled "A supplement to an act entitled 'An act to provide for the purchase, construction and maintenance of public parks by the cities and other municipalities in this state,' approved March fourteenth, one thousand eight hundred and eighty-three," which supplement was approved May seventh, one thousand eight hundred and eighty-nine. 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That section one, of which this is an amendment, shall be amended to read as follows: 1. BE IT ENACTED by the Senate and General Assembly of the State of New Jersey, That in all cities of this state which have heretofore or may hereafter purchase a park or parks under the act to which this is a supplement, the common council of such city shall levy a tax of threefifths of one mill on each dollar on all the taxable property in such city, such tax to be levied and collected in like manner as and with the other general taxes of said city, and to be known as "the park fund," and shall be used for the construction, improvement and maintenance of such parks. 2. And be it enacted, That this act shall take effect immediately. Approved March 10, 1893. CHAPTER CXVIII. An Act amending an act supplementary to "An act concerning corporations," approved April seventh, one thousand eight hundred and seventy-five, supplement approved February twenty-seventh, one thousand eight hundred and eighty-nine. amended. 1. BE IT ENACTED by the Senate and General Assembly of Section to be the State of New Jersey, That the first section of the supplement to which this is amendatory be and the same is hereby amended to be in the following, to wit: which company 1. BE IT ENACTED by the Senate and General Assembly of Purposes for the State of New Jersey, That it shall be lawful for any ten may be formed. or more persons to associate themselves into a company to carry on any business which has for its object the selling, guaranteeing, indorsement, insurance of credit, or the limiting, insuring or guaranteeing of the losses of wholesale dealers, manufacturers, financial institutions and others, arising by reason of bad debts or inability to collect outstanding indebtedness or obligations, upon making and filing a certificate in writing of their organization in the manner hereafter mentioned; such certificates shall set forth, first, the name assumed to designate such company and to be used in its business. and dealings; second, the place or places in this state where the central office of said company is to be located; third, the object for which said company shall be formed; fourth, the total amount of capital stock of such company, which shall not be less than fifty thousand dollars; the amount with which such company will commence business, which shall not be less than ten thousand dollars, paid into the said company in cash, and the number of shares into which the said capital stock is divided, and the par value of each share; fifth, the names and residences of the stockholders, the number of shares held by each; sixth, the period at which said company shall commence Certificate, and terminate, not exceeding fifty years; said certificate where recorded shall be approved or acknowledged and recorded, as and filed. Deposit of securities with state comptroller. required in deeds of real estate, in a book to be kept for that purpose, in the office of the clerk of the county where the principal office or place of business of such company in this state shall be located, and after being so recorded shall be filed in the office of the secretary of state; the said certificate, or a copy thereof, duly certified by such clerk or secretary, shall be evidence in all courts and places. 2. And be it enacted, That said company, before it shall commence the transaction of any business, or the making of any contracts or other engagements, shall deposit with the comptroller of this state firet bond and mortgage security, or other security, which shall be approved by the insurance commissioner of this state, to a not less amount than ten thousand dollars, and the said insurance commissioner shall be authorized, whenever, in his judgment, for the safety of the obligations of such company, it shall be necessary to so do, to call upon and direct the said company, within sixty days after the date of such notice, to deposit additional securities of like character deposit of securi- to an additional amount not to exceed ten thousand dolties may be required. lars, which securities shall be and remain in the custody of said comptroller, subject to change or re-investment, with like approval of the said insurance commissioner, as a guarantee for the fulfillment of the obligations and undertakings of the said company. Additional Unlawful to perform or do certain acts. Applies to corporations heretofore organized. 3. And be it enacted, That it shall not be lawful for any company organized under the provisions of this act to require of any person, partnership or company, whose loss may have been limited or guaranteed by them, that they shall make final proof of any loss or losses sustained by them, to the company so guaranteeing or limiting, within a less period than ten days after the expiration of the end of the contract or ageement of guarantee. 4. And be it enacted, That this act as amended shall apply to corporations heretofore organized under the act of which this is amendatory, in the same manner as if the certificate of organization had been filed under this act. 5. And be it enacted, That that all acts and parts of acts, Repealer. general and special, inconsistent with the provisions of this act in regard to credit guaranteeing companies, be and the same are hereby repealed, and this act shall take effect immediately. Approved March 10, 1893. CHAPTER CXIX. An Act relative to the government and management of the insane asylums or hospitals owned by the state of New Jersey. asylums to be 1. BE IT ENACTED by the Senate and General Assembly of the Hereafter state State of New Jersey, That "the state asylum for the insane designated state at Morristown, New Jersey," shall hereafter be desig. hospitals. nated by the name, style and title of "The New Jersey State Hospital at Morris Plains," and that "the New Jer sey state lunatic asylum" (located near Trenton), shall hereafter be designated by the name, style and title of "The New Jersey State Hospital at Trenton." gers, how 2. And be it enacted, That the general management Board of manaand control of both said hospitals shall be vested in one appointed. state board of managers, to be known and designated as "The Board of Managers of the State Hospitals,' " said board shall consist of seven persons, who shall respectively hold office for the period of five years; they shall be appointed by the governor, by and with the advice and consent of the senate; any vacancy occurring in the How vacancy said board shall be filled for the unexpired term only. filled. managers con 3. And be it enacted, That the board of managers now Present board of in office and appointed under and in pursuance of the tinue in office. act entitled "An act concerning the management of the lunatic asylums of this state," approved March seventeenth, one thousand eight hundred and ninety-one, shall continue in office as the board of managers under this Board of managers have the direction and control of said hospitals. Annual visit to be made. Authorized to regulations. act, and that their term of office shall expire pursuant to their appointment under said act approved March seventeenth, one thousand eight hundred and ninety-one. 4. And be it enacted, That said board of managers shall have the general direction and control of all the property and concerns of said hospitals not otherwise provided for by law, and shall take charge of the general interests of said hospitals and see that the objects and designs thereof are carried into effect, and everything done faithfully according to the requirements of the legislature and the by-laws, rules and regulations of said hospitals. 5. And be it enacted, That it shall be the duty of the said board of managers to visit each county lunatic asylum in the state receiving state aid, at least once in each year, and to inspect such institutions and their management, and to make in their annual report such recommendations as they shall deem necessary concerning such local institutions. 6. And be it enacted, That the said board of managers adopt rules and be and they are hereby authorized, empowered and directed, by and with the consent of the governor of this state, and in the manner hereinafter provided, to make, adopt and enforce rules and regulations for the apportionment and distribution to and between the said hospitals of such patients as are now or may hereafter be sent to said hospitals, or either of them, by virtue of any law of this state, and for the removal of patients from either of the said hospitals to the other, and from time to alter and repeal such rules and regulations as the public interRules and regu est may require; and all rules and regulations so made, adopted and altered, and all repealers, as aforesaid, shall have the force and effect of public statutes, and shall from time to time be published, as the said governor shall direct. lations to be pub ished. Each rule or regulation, &c., 7. And be it enacted, That each rule or regulation, and to be adopted by each alteration or repeal of pre-existing rules or regula majority of board. tions, which shall be proposed to be made and adopted under the next preceding section of this act, shall be submitted in writing to the board of managers aforesaid, and if adopted by a majority of the whole number of such board shall then be submitted in writing to the governor of this state for his approval; and no rule or regu |