The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1852-10-15
L Al w s OF OHIO.
PUnLIsmED nY AUTHORITY.
ANACT

tJtuNG VI Oiit0a
SIC. /. Be il enacted By The Generd
Assembly Of he State ofOkio, That any
number Of natural persons, not less thar
FIVE, may become a body corporate, viii;
DlI the rights, privileges and powers con
fened BY, and subject 10 oil the reSiric
lions Of this act
10 CREATE AND REGULATE RAlI ROAD COM
PANIRs.
Sec. Q That any number Of personl
as aforesaid, aAsociating 10 form a CON
pany for the purpose Of constructing !
railroad, shall, under their hands ant
seals, make certificate, which shal
specify as follows:--- lsi. The name as
snmed BY such company, and by which
il shall be known. ID. The name the
place Of The tcrmini Of said road, and the
county Or counties through which suct
road shall pass. Sd. The amount of capi.
tal stock necessary TO construct such
road. Such certificate shall be acknow.
lodged before a justice Of The peace, and
certified by The clerk OF the couf, 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 .be
great seal Of The State Of Ohio, shall be
evidence Of the existence Of such com.
pany.
Sec. 8. That when the foregoing
provisions have been complied with, the
persons named es corporaiors in said cer.
iifcaie, are hereby authorized TO carry
into effect the objects named in said Ger.
iiEcaie, in accordance with the provisions
Of this act; and they and their associates,
successors and assigns, by the name and
style provided in said certificate, shall
thereafter be deemed a body corporate,
with srccession, with power 10 sue and
be sued. plead and be impleaded, defend
and be defended, contract and be rom.
tracied with. acquire and convey, al
pleasure, all snch.real and personal es-
tate as may be necessary and convenient
10 carry into effec, the objects Of The in
co, o,poraiion, 10 make and use a common
seal, and the same 10 alter at pleasure,
and do all needful acisto carry into effect
the object for which i was creaied; and
such company shall possess all the pow
ers, and be subject 10 oil rules and re-
sirictions provided by this act.
Sec. 4. Sad corporation shall be au-
ihorized TO construct and maintain rail-
road, with single or double track, with
such side-racks, itirn-ou,s; Offices and
depols, as they may deem necessary, be-
tween The points named in the certif-
cate, commencing at or within and ex-
lending 10 Or into any town, city or vii
Iaee, numed as the place Of the iernini
Ofsuch road, and construct branches from
the main line to uiher towns or places
within the limits 6 any county through
which said road may pass.
Sec. S. The capital stock Of such
company shall be divided into shares Of
fifty dollars each, ard consist Of such
sum as insy be named in the certificate;
such shurcs shall be regarded as personal
properly, and shall be subject to exc
cuii3n at lew.
Sec. 6. An ins'allment of FIVE dol
lars on each share Of stock, shall be pay.
able a, the time of makinG the subscrip
lion, and the residue thereof shall be |
paid in such instalmenis, and at such
times and places, and 10 such person, as
may be required by The directors ofsuch
company.
Sec. T. If any installmen, Of stock
shall remain unpaid for sixty days after
The time il may be required, whether
such stock is held by an assignee, trans
fcree, OF the original subscriber, the same |
may be collected by action Of debt, or the
directors may sell the stock so unpaid al
public auciioS, for The insIallment then
iue thereon; first giving thirty days pub |
ic notice Of the time and place Of sale,
N some newspaper in general circula-
ion ID the county where such delinquent
resided al the time Of making |
Iucb subscription, or becoming such
assignee or iransferee, or Of his actual
esidence at time Of said sale; or, If
ucii stakeholder reside out Of the state I
ucS publication shall be- made in The
ouniy where the principal Office Of tho II
company is located; and if any residue 1
1 money shall remain, after paying the |
mount due on said stock, the same shall, !
N demand, be paid over 10 the owner; {
The whole Of said insiallment be not |
aid by such sale, the remainder shall be I,
ocoseyable by an action Of debt against r
he subscriber, assignee or iransleree. X
Sec. s. That wherever any railroad j
ompany, heretofore Incorporated, ORR
reased and incorporated under the pro- T
isions Of this act, shall, in The opinion
{ The directors thereof, require an in- s
yeascd amount af capital stock, they z
hall, il authorized by The holders Of al $
majority Of the stock, file witbihe auditor a
( slate certificate, setting forth the lp
mount Of such desiped increase, and IS
hereafter such compsny shall be entitledf
, have such increased capital as is fixed n
' said certificate. 70
Sec. Q. That the persons named in il
id certificate Of incorporation, or any Il