Portage sentinel. [volume] (Ravenna, Ohio) 1845-1854, 1852-07-14


,th section Of this act, shall be vacated,
her in whole or in part, by death, resig-
Itiop, or otherwise, such board of trustees
directors may be revived, or such vacan-
or vacancies filled. in the manner point
out in the sixty sixth section of this act,
II the original organization of said board,
nd majority of said trustees or directors, u
nall be quorum for the transaction OF Q
usiness
fsnsral Professions Regulating Incotpor
ated Companies.
Sec. II. All companies now incorpora-
ed in this state, and actually doing busi-
less, may accept any Of the provisions Of
his act, and when SO accepted, and certi
led copy of their acceptance fled with the
Secretary of State, that portion Of their
charter inconsis tent with the provisions Of
this act, is hereby repealed.
See. u. All companies hereafter incor-
porated, or accepting the provisions Of this
act, except those named in the sixty sixth
section, are required TO make and publish,
in some new spapes of general circulation in
the county where the principal office is To-
Gated, an annual exhibit, showing full,
fair and detailed statement Of the condition
of such company. which statement shall be
verified by the oath Of the president, secre-
tary, or clerk.
Sec. 70. No company or association
Incorporated under the provisions OF this
act, shall employ its stock, means, assets or
other property, directly or indirectly, for
any other purpose whatever, than to accom-
plish the legitimate objects Of its creation.
< Sec. "A. That the board of directors
or trustees, of any company heretofore in
corporated or which may hereafter be form
ed, under any law of this state, may, with
the written consent of the persons in whose
name majority Of the shares Of the capi'
tai stock thereof shall stand on the books Of
said company, reduce the amount of said
capital stock, and the nominal value OF all
the shares thereof, and issue certificates
therefor; Provided, that the rights of cred
| itors shall not be affected, or in any wise
| impaired, by the reduction Of ths capital
| stock Of any such corporation.
Sec. rs. That whenever any joint stock
company heretofore incorporated for the
purpose Of erecting any public improvement
in this State, whose charter is limited as to
the time for completion of said improve
ment. and when any such company has
been legally organized, and has actually
commenced and has in progress towards
completion such public improvement, it
shall be lawful for any such company to
have further time allowed for the final COM
pletion of said work, as is hereinafter pro-
vided.
Sec. 76. That upon petition being filed
by the directors of any corporation in the
court of common pleas of the county in
which the principal office of such corpora
tion is located. and upon giving thirty days
notice by publication in newspaper ofgen-
4 eral circulation in said county, Of the OBJ
ject and prayer Of such petition, said court
shall, at any regular term after the publica,
ton of said notice, upon good eau shown
decree the extension of the line for the COM
pletion Of said Improvement to such period
as shall appear to such court just and rea.
sonable.
See, That the name Of any Corpor
alton may be changed in the same. man
ner as is provided for the extension Of the
time of the completion Of any public i'm
provement in the preceding section; and in
case the name Of any corporation is changed
as aforesaid, copy Of the decree shall be
filed wi the Secretary Of State, or in the
office Of the county recorder, if the corpora
ton whose name is SO changed be Of the
class organized under the sixty sixth section
of this act, and also published il some news
paper Of general circulation in the county
aforesaid. When the provisions aforesaid
have been complied with, such company
shall hereafter be known by such new
name, and shall have all the powers, and
be subject TO the same restrictions as if No
such change of name had been made, and
no such change of name shall affect, if any
manner, the rights Of such company, or OF
any individual.
Sec. 49, All stockholders Of anv rail.
road, turnpike or plank road, magnetic tel
egraph or bridge company, shall be deemed
and held liable TO an amount equal TO then
stock subscribed, in addition to said stock
for the purpose of securing the creditors Of
such company.
Sec. 10. All stockholders of any joint
stock company, organized under the pro
visions Of this act except as hereinafter pro
vided, shall be deemed and held individually
liable for all the debts due and owing by
said company: and the trustees or directors
of every society or association, incorpora-
ted under the provisions of the sixty-sixth
section of this act, shall be deemed and held
Individually liable for all debts contra cted
by them for their respective societies or as
sociations.
Sec. so. A change in the location and
termini of any railroad, turnpike and plank
road, may be made in the same manner as
is provided in the 10th section of this act,
for the fullher extension of time; Provided,
that such company shall be responsible for
any damages or injury arising therefrom,
as is provided in the eleventh section of this
act in relation to the liability of railroad
companies.
Sec. 81. Suits may be brought against
corporations other than railroad companies,
in the same manner as against individuals;
and service shall be made on the president,
directors, secretary, OF. agent, in person, or
by leaving copy at the principal, Office of