Gallipolis journal. [volume] (Gallipolis, Ohio) 1837-1919, 1851-03-13
NAWS N9 eNNN.
AN ACT
r. .rthor;ze tbs formation of Gas Light Com
panies.


Trtbor;ze tbe formation Of Gas Light Com
panies-
.rsso.1. Be IL enacted By 1le General Assem-
Bv Of The STATE Of Ohio, That any Inree OF
-. r-rsons who mSy desire to form COM
-. -. ~ the purpose Of manufacturing and
IP,'.s,v;ne gas for lighting the streets and pub
H. and private buildings Of any city, village or
tov, IN This State, may make, sign and ae-
$1,000 before some officer competent to
80 .rtnoviedsments Of deeds, and hie IN
1hel Office Of the Recorder Of the county IN
.-,,;eh tbe business Of the company shall DC
c,r,ied on. and a duplicate thereof IN the OIL
Sc of the Secretary Of State, certIhcate, IN
writing. in which shall be slated The corporate
name Of said company, and the object ior Which
fhe company which shall be formed, the amount
IF the capital stock Of the said company, the
term of its existence, not IN exceed nifty
vsors. the number Of shares Of which the said
;.to,E shnfI consist, the number Of directors,
and their names, who shall manage the con-
~erns Of said company for the first year, and
the names of The town and county in which
the operations of the said company are TO be
carried on.
SEC. ,. When the certificate shall have
been filed as aforesaid, the persons who shall
have signed and acknowledged the same. and
their successors, shall be body polite and
corporate, in fact and in name, by the name
stated IN such certificate, and by that name
have succession. and shall be capable Of suing
and being sued in any court Of law or equity
in this State; and they and their successors
may have a common seal, and may make and
alter fhe same at pleasure; and they shall, by
their corporafe name, be capable in law, OF
purchasing, holding and conveying any real
and personal estate whatever, which may be
necessary to enable the said company TO carry
on the operations named in such certificate,
but shall not mortgage the same, or give any
lien thereon E4arl
SEC. 3. The stock, property, and concerns Of
such company, shall be managed by not less
than three, nor more than nine directors, who
shall, re spectiyely, De stockholders in such
company, and. citizens Of the United States,
and a majority Of whom shall be residents oi
this State. and who shall, except the first year
be annually elected by the stockholders, at such
time and place as shall be directed by the BY
laws Of the company; and public notice of the
time and place Of holding such election shall be
published not less than ten days previous there
to, in a newspaper printed in the place where
the operations of the said company shall be
carried on; and the election shall be made by
such Of the stockholders as shall attend for
that purpose, either in person or by proxy
All elections shall be by ballot, and each stock
hUlder shall be entitled TO as many votes as ne
or she owns shares of stock in the said com
pany, and the persons receiving the greatest
number of votes shall be directors; and when
any vacancy shall happen among the directors
by death, resignation, or otherwise, II shall be
filed for the remainder of the year in such
manner as may be provided for by the bylaws
Of said company.
SEC. A. In case il shall happen at any time
that an election of directors shall not b. made
on the day designated by the bylaws Of said
company when it ought TO have been made,
the company, for that reason, shall not be dis
solved but if shall be lawful on any other day
TO hold an election for directors, in such nan-
ner as shall be provided by the said bylaws. and
all acts of directors shall be valid and binding
as against such company until their successors
shall be elected.
SEC. 5. There shall be President of the
company, who shall be designated from the
number of the directors, and also such subor-
dinate officers as The company by IFS bylaws,
may designate. who may be elected or appoin-
ted, and required 10 give such security for the
, faithful performance Of the duties Of their Of
nee, as lne COHpahys y A'o Oi-i'0' my ~
quire.
SEC. 6. II shall be law fui for the directors
to call in and demand from the stockholders,
respectively, all such sums Of money, BY them
subscribed, and at such times, and in such
payments or installments as the directors
shall deem proper, under the penalty of for
feiting the shares of stock subscribed for, and
all previous payments made thereon, If pay
ment shall not be made by the stockholders
within sixty days after personal demand, or
notice requiring such payment shall have been
published for six successive weeks, in any news
paper in tie place where the business of the
company shall be carried on, ns aforesaid.
SEC. Z. The directors of such company
shall have power to make such prudential by
laws as they shall deem proper for the manage
ment and disposition Of the stock and business
affairs of such company, not Inconsistent with
laws of this State, and prescribing the duties
OF officers, nrtihcers and servants that may be
employed, for the appointment of all officers,
and for carrying on the business aforesaid.
SEC. s. The stock Of such company shall
be deemed personal estate, md shall be trans
ferable in such manner as shall be prescribed
hy the bylaws Of the company.
q SEC 9. -A-copy of any certificate OF Incor-
poration, fled in pursuance Of this act certI-
fed by the county Recorder or his deputy, to
be true copy, and of the whole Of such certih- /
cate, shall be received in ell courts and places, I
as presumptive legal evidence of the lncorpo- /
ration Of such company, if the same shall COM
ply with the provisions of this act.
SEC. 10. All the stockholders incorporated /
under this act, shall be severally Individually !
liable 10 the creditors Of the company in which |
they are stockholders. in proportion to the /
amount Of stock held by them, respectively, for
all debts and contracts made by such company, |
until fhe whole amount Of capital stock fixed
and limited by such company shall have been
paid in, and certificate thereof shall have
been made and. recorded as prescribed IN the
following sections, and the capital stock so
Fixed and limited shall all be paid in, o-.e-half
thereof within one year, and fhe other half
within two wears from the Incorporation of
said company, or such corporation shall be dis
solved.
SEC. IL. The president and a majority of
the directors, within thirty days after the pay
Inent Of the last instalment Of the capital
stock so fixed and limited by the company,
shall make certificate, stating the amount of
the capifal so fixed and )aid in; which certih-
cate shall be signed and sworn to by the presi-
dent and a majority of the directors; and
they SHALL within the said thirty days, file the
same IN the office of the Recorder of the eoun-
ty wherein the business of the said company is
carried on.
SIC. u Every such company shall make
report annually, within twenty days from the
first day Of January, which shall be published I
in some nev<pauer published in the city, vii