Page:Acts of Arizona 1909.djvu/36

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14
LAWS OF ARIZONA.

payment of any debt or contract for the construction and equipment of such railroad, the right to convert the principal due or owing thereon into stock of such companies at any time within eight years from the date of such bonds, under such regulations as the directors may adopt.

Section 2. This Act shall take effect and be in force from and after its passage.

Section 3. All Acts and parts of Acts in conflict with this Act are hereby repealed.

Approved March 1st, 1909.

CHAPTER 11.

AN ACT

Authorizing the Deposit and Acceptance of Money in Lieu of Bond.

Be it Enacted by the Legislative Assembly of the Territory of Arizona:

Section 1. That wherever in the Statutes of the Territory of Arizona and Amendments thereto, in any civil or criminal matter, or proceeding, bond is required of any party thereto, instead of giving such bond the said party may deposit with the court in which the matter or proceeding is pending, lawful money of the United States in the sum required in the bond, and the same shall be accepted in lieu of such bond.

Section 2. If the party shall have given bond, he may at any time before the forfeiture of the same, in like manner, deposit the sum mentioned in the bond, and upon the deposit being made the bond shall be exonerated.

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