Meigs County telegraph. [volume] (Pomeroy [Ohio]) 1848-1859, 1852-06-17

SEC. Is. No company OF association ineorpo-l
rated under the provisions of this act, shall EN-.
ploy its stock, means, assets, or other property,
directly or indirectly, for any other purpose what
ever, than to accomplish the legitimate objects
OF its creation.
SEC. IA. That the board of directors or tIps-
tees Of any company heretofore incorporated, or
which may hereafter be formed, under any law
Of this state, may, with the written consent of
the persons in whose name a majority OF the
shares of the capitalstock thereof shall stand on
! the books Of said company, reduce the amount OF
aid capital stock, and the nominal value OF all
the shares thereof and issue certificates therefor;
Provided, that the rights Of creditors shall not be
affected, or in any wise impaired, by the reduc-
ton of the capital stock Of any such corpora
| ton.
SEC. 20. That whenever any jointsto COM
pany heretofore incorporated, for the purpose Of
erecting any public improvement in this state,
whose charter is limited as to the time for COM
pletion of said improvement, and when any such
company has been legally organized, and has ac-
tually commenced and has in progress toward
completion such public improvement, it shall be
lawful for any such company to have further time
allowed for the final completion Of said work, as
is hereinafter provided. t
SEC. Is. That upon petition being filed by the
directors of any corporation in the court of COM
mon pleas of the county in which the principal
giving thirty days nstice by publication in news
paper of general circulation in said county, OF
the object and prayer of said petition, said court
shall, at any regular term after the publication oi
said notice, upon good cause shown, decree the
extension of the time for the completion Of said
Improvement to such period as shall appear to
such court just and reasonable.
f SFc. II. That the name of any corporation
may be changed in the same manner as is provi-
ded for the extension of the time of the compile
ton of any public improvement in the preceding
section; and in case the name of any corporation
is changed, as aforesaid, copy of the decree
shall be filed with the Secretary of State, or in the
office of the county recorder, if the corporate
: whose name is so changed be of the class organ
lied under the sixty sixth section Of this act,
also published in some newspaper of general cir
, culation in the county aforesaid. When the pro
y visions aforesaid have been complied with, sucl
: company shall thereafter be known by such nev
d name, and shall have all the powers, and be sub
: ect to the same restrictions as if no such chang
of name had been made and no such change Q
: name shall affect, in any manner, the rights Q
l. such company, or OF any individual.
IS Sec. IS. All stockholders of any railroad
II turnpike or plank road, magnetic telegraph Q
Il bridge company, shall be deemed and held liabl
il to an amount equal to their stock subscribed,
y addition to said stock, for the purpose of secu
1t ring the creditors of such company.
,e SEC. 70. All stockholders of any Joint stoc
IN company, organized under the provisions of TIL
ir act except as hereinafter provided shall be deem
l. cd and held individually liable for all the deb
S. due and owing by said company; and the trustee
le or directors of every society association, ncol
ir porated under the provisions of the sxty-sixt
ny section of this act, shall be deemed and held il
ey dividuay liable for all debts contracted by the
I'd for their respective ocieties or associations
l. SEC. 80. change in the location and temil
f. of any railroad, turnpike and plank road, may /
We made, In the same manner as is provided in Ii
ne 10th section of this act for the further extenso
n; of time; Provided, that such company shall be II
I'd sponsibe for any damages or injury arising there
as from, as is provided in the eleventh section
n this act in relation to the liability Of railroa
he companies. 'y'
of Sec. 81. Suits may be brought against corpc
of rations other than railroad companies, in Il
b. same manner as against individuals, and servit
or shall be made on the president, directors secrets
he ry, or agent, in person, or by leaving COPY
n the principal office of such company; and in mi
a. king such service, the sheriff and constable a
ch authorized to make service without, as well
s within their respective countless and the real al
k personal property of corporations shall be lab
of to execution, as other property.
an SEC. 50. All officers of any Incorporated COZ
IL panies organized under the provisions of this sc
of shall be residents Of this state; and whenever al
Ill company, association or society," heretofore
ds hereafter incorporated, shall have failed to ele
n its officers at the time designated il shall be lay
Ill full for such company, association or society,
rs call a Weeting and elect its officers, who shs
of hold their respective Offices until the time spec
Ike fed for the annual, or other fixed time for hold
he such election; and whenever any incorporat
lie company heretofore organized, or that may her
all after be organized under the provisions of Il
act, shall have specified time fixed for its ann
tie al meeting majority of the stockholders in i
be tereSt, may, at any regular annual mectr
on chaiiee the 'iiiie q tne annual meetng there'
ch JAMES g. JOHNSON.
nd Speaker Of the House of Reps.
zee WILLIAM MEDlLL.
NJ pyna;dan, ,c ,h 0oo.,o