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

tA~ tss"J ethN euu W uuou1 PASnN euu
be impleaded, In all courts Of law and
equity; may have corporate seal, and
the same alter OF break at pleasure; may
bold all kinds Of estate, real, personal. OF
mixed, which they may acquire by pur-
chase, donation, devise, or otherwise, me-
cessary 10 accomplish The objects Of the
corporation, and The same TO dispose Of
and convey at pleasure. ii ~
Sac. 2. To ascertain the property,
and the value thereof. Of amy institution
desirous Of becoming incorporated under
The provisions of this act, il shall be The
duty Of the auditor Of any county, ic this
state, on application in writing, of any
numbe- not less than FIVE ffeeholders, re-
sident Of any county where such appli-
catioa may be made, and where such in
sii,uiion is, or is intended TO be loca-
ted, setting forth the object for which
they desire TO become incorporated, 10
select three judicious, disintetested free.
holders ofihe county, and voters therein,
who shall first take an oath for the faith
ful discharge Of their duties before some
competent, officer; and such appraiser
shall then proceed to make schedule,
and upon actual view, TO appraise the
true value in money Of all such goods,
chattels, lands and tenemenis, chooses 10
IN action, rights, credits and subscrip-
lions, as such applicants shall exhibit TO
such appraiser, and shall return such
schedule, with their appraisement, aud a
certificate Of some justice Of the peace,
or other officer authorized 10 administer
paths, that such appraisers were duly
sworn by him to discharge their duties as
such appraisers TO the auditor Of the
proper county, and If the amount SO
found shall be equal 10 the sum required
for the commencement Of ony such in
sti'ulion as said applicants desire, such
auditor shall give such applicants rcei.
iiifcaie OF the fact, and they shall enter
il in book ofrecords, BY them provided
for that purpose, which, together with
their corporate name, and articles Of as
soeiaiion, they shall also cause 10 be re-
corded in the recorders office OF The
county where such institution is, or is
intended TO be located; and they shall
ihenceforward be body corporate and
polite, according 70 the provisions of
this act, and snch auditor. appraiser and
recorder, shall be entitled 10 the same
fees as for like services in other cases,
and no more.
Sec. 3. The corporators ofany col.
lege or university which may be organi-
zed in accordance with the provisions of
this act, may elect hom among their
number, FIVE or more trustees, who shall
constitute board Of directors Tor euch
institution, and they shall have power 10
6ll vacancies that may Cccur in their
board, and shall hold their Offices until
their successors are elected and quail.
fed, according TO The rules and by-laws
tina, may be adopted by the board Of di.
reciors; and when any such institution,
in its corporate name. shall have acquired
five hundred dollars in real and persona
properly, 10 be ascertained as herein pro-
vided, said trustees shall have power 10
appoint a president, professors, tutors
and teachers, and any other necessary
agents and officers of the board Of irus.
tees, aud fix the compensation Of each,
and may enact such bylaws, not incon.
sistent with The laws Of ills state or Of
Inc United States, for the government Of
Ibe institution, and for conducting the
affairs Of The corporation. as thoy may
deem necessary; and shall have power to
confer on the Recommendation Of the "a.
Guilty, all srch degrees and honors as are
conferred BY colleges and universities OF
he United States, and such others,
,avibg reference 10 the course Of study
ind the accomplishment Of the students,
IS they may deem proper.
Sec. 4. In case i, should happen
hat an election for electors sbouH not
,e held on the day appointed by the BY
avs Of any institution or company
ormed under the provisions Of this act, h
uch corporations shall not for that rea-
on be deemed TO be dissolved, but il
hall be lawful on any other day, 10 hold I
meeting and elect It's directors, in such
manner as shall be prescribed by the by.
avs thereof. Ag4 |,
Sec. 5. The trusiees of any univer. ,
iiy, college or academy, may hold in
rust any property devised, bequea,hed !
y donated to such institutions, upon any {
peeifc trust consistent with the objects /
e said corporations.
Sec. 6. The presidents and profess
RS shall constitute The faculty of any
iterAry college or university, Instituted
nder the provisions Of this act, and have
ower to enforce the rules aud regula.
ions enacted by the trustees, for ,Se GO
ernment and discipline Of the Students,
nd 10 suspend and expel offenders, as
nay be deemed necessary.
Sec. 7. When any number Of per. !
ons shall have procured, by subscription, !
onation, devise, purchase or otherwise. a
he sum of FIVE hundred dollars, for the {
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