The Democratic sentinel and Harrison County farmer. [volume] (Cadiz, Ohio) 1851-1852, 1852-04-21

or change it into scholarship, when il be-
comes necessary for the purpose Of carry
ing out the object for which such com
pany or corporation is formed, in the fol-
lowing manner. The directors for the time |
being shall make out and sign a certificate, |
in which shall be set forth the amount 10
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 record
ed, IN the same manner as the articles OF
association and corporate name are by this
act required TO be recorded.
SEC. 10. Before the capital stock OF
any such company shall be Increased, 1t
shall be the duty of the directors to pub
lish notice, signed by at least majority
of them, in a newspaper of general circu-
latiou in the county in which said insttu-
ton is located, at least four consecutive
weeks, appointing time and place for
holding a meeting of the stockholders of
said company, specifying the object of such
meeting, and the amount to which it is
proposed toincrease the capital stock there
of; and a vote of at least two-thrds Of the
shares of the stock represented at such
meeting, shall be necessary to an increase
of its capital stock, and to authorize the
directors to make and sign the certificate
mentioned in the preceding section.
SEC. IL. Any university, college or
academy that may become body corpo-
rate, under the provisions of this act, the
property of which is not derived by dona-
ton, 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; and also
! in sum equal thereto, oveG and above
| the amount Of their said stock Provided
| that the trustees or directors OF any cor
! poration organized under the provisions
| ef this act, the property OF which is not
owned by individuals in the shape OF stock
subscribed or taken, butt held upon trust,
or derived by devise, donation, gift or
| subscription, shall not contract any indebt-
edness beyond The actual means or assets
Of said corporation; and ii said trustees
or directors contract deOtS or incur !iablll-
ties beyond the means or assets OF said
corporation, the trustees or directors so
contracting, shall be held liable in their
individual capacity for The payment OF the
same, but the property of said corporation
| shall first be exhausted
SEC 10. Any college, university, or
other institutions of learning now existing
by virtue Of any act Of incorporation, or
that may hereafter become incorporated
for any of the purposes specified in this act
may, if three -fourths of the trustees or di-
rectorS thereof deem the same proper, and
| if said institution is owned in shares, or
by stock subscribed or taken, te en- by a
vote of three IourthS Of tn stock
or share holders, change the To-
cate on and name Of such institution, con-
its real estate, and transfer the effects
thereof, and invest the same at tue place
to which such institution shall be moved;
Provided that no such removal shall be
ordered, and no vote taken thereon, unit
after publication in the same manner al
herein required for the increase Of capita
stock; in which notice shall be fully Sc
forth the name and location of the institu
ton proposed to be removed, and the place
to which it is proposed to remove such in
stitution; and provided also, that in cast
of removal, a copy of the articles of asso
citation, with the corporate name of sucf
institution, shall be recorded in the recor
der's Office Of the county to which sucl
institution may be removed.
JAMES G. JOHNSON,
Speaker of House of Representatives.
WILLIAM MEDILL,
President Of the Senate.
April 9th, 1859.