Burlington hawk-eye. [volume] (Burlington, Iowa) 1845-185?, 1851-02-20

clent proof that no property can be found
an execution has issued on a Judgment
against the corporation, and o demand
thereon made OF some one of the last act
ing officers of the body for property on
which to levy, and if lie negeets to point
out any such property.
Sec. 20. The defendant in any stage of
a cause may point out corporate property
subjec: 10 levy, and upon his satisfying
the court Of the existence Of such proper
| ty by affidavit or otherwise, the cause may
be continued or execution against the de-
iendant and stayed until the property can
be levied upon and sold, and the court nay
subsequently render judgement and order
execution for any balance which there
may be after disposing of the corporate
property according 10 the stage Of the
cause ; but if demand of property has
been made as contemplated in the pre-
ceeding section, the cost of such proceed
ings shall in any event be paid by the
company or by the defendant.
Sec. 26. When..the private property Of
stockholder is taken for corporate debt,
he may maintain an action against the cor
poration for idemnhy and against any Of
the other stockholders for contribution.
Sec. 81. For the purpose of repairs re-
building or enlarging or 10 meet contin-
tingencies, or for the purpose Of sinking
fund, the corporation may establish fund
which they may loan and in relation 10
which they may take the proper securities.
Sec. %. When the franchise Of cor
pora,ion has been Levied upon under an
execution and sold the corporators shall
not have power to dissolve the corporation
so as TO destroy the franchise; and If they
neglect 10 keep up an orgaiza!ion suffi-
cient 10 enable the business TO proceed, the
purchaser thereupon becomes vested with
| all the powers OF the corporation requisite
therefor. And when it becomes imprac-
ticable for an individual so 10 conduct
them or in cases where doubts or difficult
ties not herein provided for arise, the pur-
chaser may apply by petion 10 the District
Court which is hereby vested with author
! ity 10 make any orders requisite for carry
ing into effect the intent Of this chapter in
this respect.
Sec. 90. In any proceeding by or against
corporalion-or against stakeholder TO
change his private property TO the divi-
dens received by him-the court is invest
ed with power TO compel the officers 10
produce the books Of the corporation on
| the motion of either party, upon proper
cause being shown for that purpose.
Sec 80. A single individual may en-
title himse elf TO all the advantages of this
chapter, provided he complies substantial
ly with all lis requirements. emitting those
which from the nature Of the case are il
applicable.
Sec. 81. Persons acting as corporation
under the provisions Of this chapter, will
be presumed TO be legally incorporated un-
til the contrary i, shown. And no such
franchise shall be declared actually null
or forfeited except in regular proceeding
brought for tha, purpose.
Sec. 80. No body men acting as cor
pora'ion under the provisions Of this chap
ter shall lie permitted 10 sci up the want Of
legal organization as defence 10 an ac-
ton against them as a orporation; nor shall
any person sued OH contract made with
such corporations or sued for an injury 10
| tS pipPeI'S VI W ltiis uoHS W It's iiltSi Gus,
be permitted to set up want of such legal
organization in his defence.
Sec. 33. Corporations regularly or
ganized under the general law heretofore
in force, may, by adopting their articles Of
association TO the provisions of this chap
ter, and by making the required publice-
tion Of the charge as we'll of their inten-
tion to act under the foregoing provisions,
be entitled to all the advantages and sub
jected TO all the liabilities above provided
for; but the change in their articles of as
sociation must lie made in accordance with
these articles, or by The unanimous con-
sent Of the stockholders.
Sec. 81. Mutual insurance companies
organized under the provisions Of this
chapter, may render their premium notes
a lien upon the whole or any part of the
real estate upon which the property in
sured is selected, whether such real estate
is or is not exempt from ether liabilities
as homestead ; but such lien will not at
tach until the premium note-stating the
property on which it is iien-is filed for
record aud treated in the same manner as
though it were mortgage from the maker
thereof to the company, except that it
need not be acknowledged.
Sec. 35. Nothing herein contained is
intended 10 effect the interest Of companies
already organized, further than is above
expressed in Section 80.