Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1850-02-16
LAWS OF INDIANA.
BY AUTHORITY.


SEcTIoN 1. Be enacted By the General assembly Of the
State Of Indiana That shall be lawful hereafter for any
number Of persons less than desrOus establish
any mandatory any place within this State and wishing
to become incorporated for in raising the
say capital and in conducting the business, become in
eo-Porated in the following tOwt Such persons
shall BY articles Of agreement under their hands and
seals acknowledge before notary public, justice Of
the peace, recorder and recorded in the Office Of the
eordes Of the proper county determine and state follows
t0wit lst, the eorpOrats %, the business pro-
posed 3d. the place in which it proposed be carried
4h, the amount Of capital 5h, the number Of shares
and amount OF each, not less than fifty dollars 9th, the
length Of time desired not 10 exceed thirty years and
the Of persons who have subscribed the shares
them respectively taken and the amount paid in cash
share. The money paid on each share shall not be
one dollar per share, and shall not in the whole
han hundred dollars, and shall be paid into the
Of the proper county and the certificate Of the
acknowledging said payment shall be endorsed on
tIcles Of agreement.
- On filing the said articles of agreement, ac-
knovecged ana recorded aforesaid with the reasurers
receipt endorsed aforesaid in the Office Of the secretary Of
STATE shall Be the duty Of the Governor 10 issue letters
declaring said persons aud their SUCCESSORS
corporation according to the prescribed in said
ces Of agreement and to notice thereof to be pub
lishsd in some newspaper printed at Indianapolis.
SIC 3 By virtue Of said letters patent the said persons
shall become be corporation according
the said articles Of agreement and may take and hold or
sell all such real estate be for the trans
action Of their business for the security collection Of
their debts and shall further have all the powers granted
be subject all the prescribed in article Of chan
thistytvo of the revised statutes Of 13, enacng
general provisions respecting corporations and in any law
smendatOry thereto
SIC 4 That il shall not be lawful for any company that
organize under this act declare any dividend when
the debts Of the company exceed their solvent credits and
the company shall set aside Of the profits equal
to ten per cent the amount Of capital subscribed
surplus fund for the payment Of the debts contracted
be c0ntI acted
Sac 5. That shall be the duty of said company on or
before the expiration OF each year after the organization
any company under this act to cause to be made
hbt Of the amount, receipts, and disbursements Of the
company for the year next Psceedng also the liabilities
and credits Of said company, which exhibit shall be under
the oath Of the proper officer Of said company, aud filed
the Office Of the auditor Of the county wherein said
NY may have established their business, which exhibit shall
all times be subjected to inspection Of the public by said
auditor.
SEC So soon as said corporation shall be actually or
CANNED by election Of officers, the money paid the
treasury above required shall by the be paid
over to the proper officer thereof
SEc T. The letters patent Of the Governor shall in all
all courts this State be deemed and taken
prna ac evidence the regular Incorporation and or
ganzlon Of the company 10 which such letters patent
may be ssued snd in all questions Of pleading in any suit
to which said company be party such letters patent
shall have the full effect Of act Of incorporation by
public law Of the State.
SEc g. No corporation constituted by virtue of this act
shall engage the business Of banking except that shall
be lawful for said company TO issue and ake and when
necessary endorse all such bonds notes. and bills of
change may be necessary and usual in their particular
trade
SEC 9. This be force from and after its pas
sge
W.
Speaker Of the House of Representatives,
JAMES H. LANE,
President of the Senate.
Approved January Is, 1850.
JOSEPH A. WRIGHT.
AN ACT to preserve the interest Of the State of Indiana
in the Madison and Indianapolis Railroad.
SECTION l. Be enacted By the General Assembly Of the
Sale of Indaaa That from and after the passage Of this
act it shall be lawful FOR the Board Of Directors of the
Madison and indianapolis railroad company authorize
order increase Of the amount Of capital stock OF said
LoII. ...lt
redemption to said road, without the of the said
State FIRST obtained according TO law.
SEc- 2 The State hereby declares that she will regard
any further increase OF stock by said company, without
the being first obtained) being
authorized by law, and violation of the existing
between said company and the State The State also here
by protests against the right power Of said company
charge against the &c. the of
repairs that part of the road finished by the State mas
much the State did by the act of the General Assembly,
approved January twentyeght, 1872 by virtue OF which
organized, and also by the of Janua
ry 13th S45 approved amendatory the grant
said company out Of the proceeds of the States 6n-
ished portion Of said Road amount amply sufficient
deray the expense Of all needu and proper repairs of said
portion Of the road, up the year 1858 A. D. therefore
pany after having received amount more than su
csnt meet all such proper expenses again charge the
against said road part of the cost Of eOnstruc-
ton Of said company thereby requiring the State pay
the twice. thus essenng the UaIUe Of the interest
which the State holds in said road.
SEC This act to take effect and be in force from and
State Journal.
Speaker Of the House of Representatives
JAMES II. LANE,
President Of the Senate.
Approved January I9, 1850.
JOSEPH A. WRIGHT.
AN ACT.to amend an act entitled for the Govern
Of the Indiana Hospital for the Insane, approved
February IS, le45.
SEcrIoS l. Be enacted by he General Assembly Of III,
STATE Of Indiana. That act entitled an act for the govern
r. Id eha I'D
February Is, 1913, be and the Is hereby amended
that when any moneys have been paid may hereafter
be paid out Of the county treasury Of any county n this
Stale, according TO the provisions of sections No 49, %
and "a Of said act the shall be and constitute lien
upon all the real and personal property Of the person for
whose and benefit has may be paid
whether that property held in the of said person
any other for his or her ase or IN trust for him o
her their heirs.
SEC. 2 That said lien may may not be enforced BY
the board Of county commissioners of each county,
their discretion may be deemed right proper and just unde
the circumstances Of each particular PrOrided in al
cases. That the said board Of commissioners within twev
months from the date Of the drawn the county
treasury for the payment Of such moneys shall order
direct the to be collected.
g. That this be in force frsm and after its pas
sage and publication
Speaker Of the House of Representatives
JAMES II. LANE,
President Of the Senate.
Approved January l9, 1850.
JOSEPH A. WRIGHT.
AN ACT relative the board Of commissioners Of Frank
lin county.
SEC 1. Be enacted By the General Assembly Of the Sta
of Indana That the board Of county commissioners of III
county of Franklin may sit ten days any session Of
board il the business thereof shall require it.
SEC 2 This shall take effect from and after IFS pull
LEGATION.
G.. w. CARR,
Speaker Of the House of Representatives.
JAMES II. LANE,
President Of the Senate.
Approved Jan. I6, 1850.
JOSEPH A. WRIGHT.
AN ACT amend entitled act, authorizing Il
construction Of Plank Roads; approved Jan. Is, 1e49
SEc l. Be enacted BY the General Assembly Of The Sta
of Indiana That the first and fourteenth Il and 14
tions said act be and the hereby amended
striking out the word Recorder where the occurs
each section, and inserting in the place thereof the wo
Auditor
SIC 2 This shall be in force and take effect fro
and after its passage.
- CIV. CARR,
Speaker Of the House Of Representatives
JAMES III. LANE,
President of the Senate.
Approved Jan. l6, 1850.
JOSEPH A. WRIGHT.
AN ACT in relation to costs in certain cases
SEC l. Be IL enacted By the General Assembly Of the II
of Indsana That whenever shall be necessary
any publication against any nonresident party to any
at in equity pending any court in said State of
cost in such
sEc g. This act shall take effect from and after its
O. w CARR