The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1852-07-14
LAWS OF OHIO.
PUBLISHED BY AUTHORITY.
fro BE CONTINUED

mo. 87.l AN ACT
TO provide for the creation and regula-
ton of Incorporated Companies
in the State of Ohio.
SEC. l.. Be it enacted By the General
Assembly of the State Of Ohio, That any
number of natural persons, not less than
! five, may become body corporate, with
all the rights, privileges and powers con-
ferred by, and subject to all the restrictions
of this act.
| TO CREATE AND REGULATE RAILROAD
COMPANIES.
Sec. 2. That any number OF persons as
aforesaid, associating, TO form company
for the purpose of constructing railroad,
shall, under their hands and seals, make a
certificate, which shall specify as follows:
lst. The name assumed by such company,
and by which it shall be known. 2. The
name Of the place Of the termni of said
road, and the county or counties through
which such road shall pass. g. The
amount of capital stock necessary TO con-
strucl such road. Such Certificate shall
be acknowledged before a justice OF the
peace and certified by the clerk ofthe court
Of common pleas, and shall be forwarded
to the Secretary of State, who shall record
and carefully preserve the same in his
Office; and copy thereof, duly certified
by the Secretary of State. under the great
seal the State Of Ohio, shall be evidence
of the existence of such company.
Sec. That when the foregoing provisions
have been complied with. the persons ma
med as corporators in said certificate, are
hereby authorized to carry into effect the
objects named in said certificate, in accord
ance with the provisions Of this act; and
they and their associates, successors anC
assigns, by the name and style provided
in said certificate. shall thereafter be deem
ed body corporate, with succession, witt
: power to sue and be sued, plead and bt
impleaded, defend and be defended, con
tract and be contracted with, acquire ant
convey, at pleasure, all such real and per
sonal estate as may be necessary and con
venent to carry into effect the objects Of th
incorporation, to make and use common
SEAL and the same to alter at pleasure
and do all needful acts to carry into etfec
the object for which il was created; ant
such company shall possess all the powers
and be subject to all rules and restrictions
provided by this act.
Sec. 4. Said corporations shall be au
thorized TO construct and maintain rail
road, with single or double track, witt
such side-tracks, turn-outs, officers anC
depots, as they may deem necessary, be
tween the points named in the certificate
commencing at or within and extending Il
or into any town, city or village, FAMED a
the place ofthe termini OF such road, AM
construct branches from the main line i
other towns or places within the limits o
any county through which said road ma.
pass.
, SEC. 5. The capital stock Of such com
pany shall be divided into shares of fit,
+ dollars each, and consist of such sum a
Imay be named in the certificate; sue
shares shall be regarded as personal prop
erty, and shall be subject to execution a
: law.
|, SEC, 6. An installment of five dollars o.
each share Of stock, shall be payable at tn
r time Of making the subscription, and tn
!. residue thereof shall be paid in such in
| stallments. and at such times and places
, and to such person, as may be required b.
: the, directors of such company.
fI SEC. 7, If any installment of stock shal
. remain unpaid for sixty days after the tim
Iii may be required. whether such stock !
4 -Iheld by an assignee, tranferee, or the orig
5 inal subscriber, the same may be collecte'
-tby an action Of debt, or the directors ma.
! sell the stock so unpaid at public auction
q for the instalment then due thereon; firs
lgiying thirty days public notice ofthe tim