The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1852-06-18

tained; trd all such institutions now 10
existence, OF that may hereafter be estab-
Ilisbed, may connect herewith, 10 be
used as part Of their course Of educa.
iion, any metbanical shops and machine
Try, OF lands for agricultural purposes, not
exceeding three hundred acres, 10 which
may be attached all necessary buildings
for carrying on the mechanical or agri.
cultural operations Of such institution.
| Sec. 8. Any company which may be
formed in pursuance Of this act, or which
mny now exist by virtue Of any special
act of incorporation, the property OF
which is held as stock, and not derived
lby donation, gifi, devise. or graiuiious
subscription, may increase lis capital
stock, or change it into scholarships,
when Il becomes necessary for the pur.
pose Of carrying out the object for which
such company or corporation is formed,
10 the following manner: The directors
for the tune being shall make out and
sign certificate, in which shall be sci
forth the amount TO which such capital
stock is to be increased, and the object;
which certificate shall be deposited in the
office Of the recorder Of the proper
county; and be by him recorded, 10 the
same manner as the articles Of associa-
lion and corporate name are by this act
required to be recorded. 4
Sec. 10. Before ,he capital stock Of
any such company shall be increased, il
shall be the duty Of the directors to pub
lish notice, signed by at least a major.
iiy Of them, in newspaper OF general
circulation in the county IN which said
institution is located, at least four conse.
cutive weeks, appointing u time and
place for holding meeting of the s'ock.
holders Of said company, specifying the
object of such meeting, and the amount
TO which il is proposed 10 increase The
capital stock thereof: and vote of at
least two-,birds OF the shares Of the
stock represented at such meeting, shall
he necessary 10 an increase of its capital
stock, anil to authorize the directors to
make and sign the certificate mentioned
| in the preceding section. IIf1y
Sec. ii. Any university, college or
academy that may become body COZ
poraie, under The provisions Of this act,
the property of which is not derived by
donation, gift, devise or subscription, but
is owned by individuals in the shape of
stock subscribed or taken, the owner of
said stock shall be individually liable for
the debts Of said corporation, to the
amount of their said stock respectively,
also in a sum equal ,heTeto, over and
above the amount of their said stock
Provided thai The trustees or directors of
any corporation organized under the pro-
visions Of this act the property OF which
is not owned by individuals in the shape
OF stock subscribed or taken, but is held
upon trust, or derived by devise, dona-
,ion, gift or subscription, shall not con
tract any Indebtedness beyond the actual
means or assets OF said corporation; and
ifsaid trustees or directors contract debts
OF incur liabilities beyond the means or
assets Of said corporation, the trustees or
directors 80 contracting, shall be held
liable in their individual capacity for The
payment Of The same, but ,be property Of
said corporation shall first be exhaus-
ted. ' f
Sec. IL. Any college, university, or
other institutions Of learning now exist
ing by virtue Of any act Of Incorporation,
or that may hereafter become incorpora-
ted for any Of the purposes specified in
this act, may if three. fourihs of the trus-
lees or directors thereof deem the same
proper, and If said Institution is owned in
shares, or by stock subscribed or taken,
then BY vote OF ,hree.fourths Of the
stock or shareholders, change the location
and name of such institution, convex its
real estate, and transfer the effects
thereof, and invest the same at the place
10 which such institution shall be moved;
that no such removal shall be
,rdered, and nv vote taken thereon,
mil after publication in the same man
Ter as herein required for the increase Of
:apitaf stock; in which notice shall be
ully SET forth the name and location of
he institution proposed TO be removed,
md the place 10 which It is proposed 10
emoye such institution; and provided
lso, that in case Of removal, copy ofF
he articles Of association, with the cor
'orate name of such institution, shall be
ecotded in the recorders office Of the
county to which such institution may be
emoyed. 3}ff4
lu@ - JAMES G. JOHNSON, Il
speaker ofthe House of Representatives. |i
bies,t WILLIAM MEDfLL, II
ga President Of the Senate. a
April 8, 1852. a.9 q
AN ACT lt
To prevent Fraudulcn, Practices. II
SEC. l. Be il enacted BY the General
-