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C-14 - Railway Act
Section 37
Disposition versions
37. (1) Any person, neglecting or refusing to pay a rateable share of the calls, for two months after the time appointed for the payment thereof, shall forfeit his shares in the company, and all the profit and benefit arising therefrom, which forfeiture shall go to the company for the benefit thereof.
(2) No advantage shall be taken of the forfeiture, unless the same is declared at a general meeting of the company, assembled at any time after such forfeiture has been incurred.
(3) Every such forfeiture shall relieve every shareholder so forfeiting, from all actions, suits or prosecutions whatever, commenced or prosecuted for any breach of contract or other agreement between such shareholder and the other shareholders, with regard to carrying on the undertaking.
