Nebraska advertiser., 1857-06-25
ARTICLES OF INCORPORATION
OF TIE
NEBRASKA SETTLEMENT

Gl4 HDA4t4C 4 EACCESSlL4 uuuGI the shame and
style as given in the following articles, agreeable to
chapter Third Of an Act Of the Legislature Of Ne
bvaska Territory, entitled san Act for revising. con-
solidating-a and preparing 2 general Code for the Ter
ritOrJ Of Aebrask3,' approved Jan. 18th, A. J., '56.
Ar. 2. This Association shall be known bv the
name Of the Nebraska Setaeulent Coa,yaav. The
number Of shares Of capitol stick shall not be less
than twenty nor more than five hundred Of five hun
dred dollars erch; bit the price Of these shares nav
be raised at any regular meeting of the Board of
Directors, by vote Of tWO-thirds present and voting.
AIT g.. Every member of this association shall
pay at tho time OF his or her subscribing to the con-
s~titurion, the sum Of twenty dollars Der share 50
subscribed by them, for the use Of the company: the
balance Of said share to be paid in such manner and
at such times as directed and required BY the BOARD
Of Directors. In case any member of this Associa-
ton, after being duly notified, fail to pay the said
share or shares, or any part thereof, when called for
by said Beard Of Directors, and allow the same to
remain unpaid for the space Of thirty days, the Board
shall thereupOn be Authorized and empowered, at
their discretion TO declare the said stock Of such
members forfeited to the use of the company, and
may thereupOn proceed to make such disposition
thereof as they may deem meet and proper.
ART 4. The officers of this Association shall be
a president q Vice President. a General Superinten-
dent, a Treasurer, a Secretary and Seven Directors,
they stEsaeiif26aazTSea fff P sTTsif to make. alter or change
their Own bylaws.
ART 5. 1t shall be the duty of the General Su-
perinten4ent to receive Subscriptions for capital
stock, sell shares repFesentingc city lots, and to attend
to the correspondence andthe active business of the
company. All monies received by him shall be paid
monthly to the Treasurer. lie shall give bonds
satisfactory to the Beard for the security of monies
which may be in his hands, and he shall receive for
his services sach sum as skal be fxedupOn by the
Board.
ART. g. 1t shall be the duty of the Secretary to
keep exact minutes of the proceedings of the Presi-
dent and Board of Directors and meetings of the
Stockholders, and to attend to the collection Of all
dues Of the company, and pay over the same to the
Treasurer when collected, and take his receipt for
the same, and doand perform such other duties as
may be incumbent on him by virtue of his Office, or
as directed by the bylaws or board of directors, He
shall have his books open to the inspection of all the
members Of the company, and shall receive for his
services such sum as shall be fixed by the President
and Board Of Managers. He shall give a bond with
at least two s~ureties, to be approved by the President
and Board Of Managers, FOR the faithful performance
of his duties.
ART. Z. 1t shall Re ths duty of the Treasurer to
receive from the Secretary and General SUperinten-
dent all monies collected by them, and give areceipt
for the same; to Fay all orders drawn by the Presi-
dent AMI Board Of Managers and attested by the
Secretary. He shall keep correct accounts Of all
monies received and paid out by him and have his
books present and open at every meeting of the Board
and Of The Stockholders, for the inspection of auy
member of the Association, and exhibit a balance
sheet at every regular meeting Of the Board. He
shall gives bond with at least two s~ureties, to be ap-
proved by the President and Board Of Directors. for
the faithful performance Of his duties.
ART. s. The members Of this company shall be
all such persons CT good moral character, as shall
with the consent of the General Superintendent
subscribe to the constitution, own one or more share:
Of stock, or shall have received donations from the
company; and they do mutually agree to protect each
other II the maintenance Of their lawful rights, and
to act together IN the promotion of their mutual
interests.
Art. 9. Any member Ct this company NAV trans
! fer q share or shares of stock to another person: but
before any transfer shall be made on the books OF
the Association, the person or persons 10 whom the
transfer is made shall sign the constitution, and they
shall then be subject to all the liabilities, and en-
titled to all the privileges of the original members
ART. 10. The annual meeting of this Association
shall lie held on the first Tuesday in February il
each year, at such place or places as the President
and Board of Managers may designate, till One-third
Of the stock taken shall be owned by persons resid-
ing IN the settlement made by this company in Ne.
braskG- after which time, thew shall be held at Table
Rock, Nebraska. The officers and managers shall
hold regular meetings once IN three months. at such
pIacesand On such daysas they may appoint. Specia'
} meetings may be called by the President and Secretly
Special meetings Of the Stockholders may be called
upon the written request Of ten members. notice
thereof being given by the Secretary at least ont
month before such meeting shall be held.
ART Ii. Every owner Of capital stock shall
have one vote for every share of stock held by hin
or her up to four shares. AID one vote for every tive
: additional shares up to twenty; but no member shall
In any case be allowed more than twelve votes OF
: any question, and no Stakeholder shall be allowed
to vote at any meeting who is at the time Delinquent
in the payment Of his or her stock.
ART. y. No member or officer of this Association
shall have power to bind the company by any con
tract, or to render them liable to any extent OF TO
any purpose, unless authorized so to do by the Board
and the Board shall in no case render the company
liable beyond the amount of available funds. Tn
, Board shall not have power to sell to any one person
to be held In their own right at the same time, NOR
than eighty acres Of lard lying within circuits o
three miles square, the centre Of the city plots bein;
/, the centres Of such squares or circles, nor more thai
three hundred and twenty acres of land Of salt
{ company lying outside of said squares: proTideC
that anT person so owning eighty acres within SAT-
: circuits may hold sufficient land outside said circuit
. to make in eli 500 acres. The company shall no
sell to any person any land till he or she shall haY
!. subscribed to this constitution.
, AIT. u. Every Stakeholder shall be entitled t
purchase property Of the Association at the eJrTren
priee thereof to the amount Of one thousand dollars
D and have a credit Of seven years thereon by payInl
one seventh Of the principal and all the intereS
annually: provided, he or size viii occupy the sans
and has paid for his or her stock, and one share o
the pSychaser's stock, and the property so purchase
shall Be held as security for the payment thereof.
, ART. Is. No member Of this company shall b
allowed to SELF intoxicating drinks as a beverage
: within the bounds Of any OF the settlements mad
bv this eOmpanv. In case anT member of thiscOm
: pauy shall be convicted Of so doing, he or 2be sha
forfeit all his or her right and interest ID tlis com
q pany, and all his or her title to lands procured frOl
. the company, and this forfeiture shall be regarde
= as real and stipulated damages to the company fc
\ such IN offence, and the property so forfeited sha
b appropriated by the Beard to the benefit Of school
: in the town OF ward whore the offence was con
mItted.
. ARr. Is. The Board shall have power to issu
q certificates of stock 70 bs redeemed In town lots
The Price Of such stock shall be fixed at S20a shar
s but it may be raised at any time by the Board at
regular meeting thereof. The President of the Boar
shall call meetings Of she holders Of such shares
often as once in three months In the towns whel
such shares are to be redeemed, for the purpose
4 drawing fer lots; and when such lots are drawn Il
owners thereof shall be entitled to 4 good and suf
q eient deed therefor. The Board shall have pow
to donate town or city lots for neral, literary OF r
Z hgiolIs purposes.
Ii Art. 16. The President and Board Of Director
a maiorityOf Ehcm shall form aquorum, shall ha1
% full power to manage the affairs Of the eompa1
generally, to purchase real estate, to improve, sc
and dispose Of tie same under the regulations Dr.
- vidcd by the constitution AID the bylaws. II
y property so purchased shall belong to the stOckholde
Of the capital stock, &c be enjoyed by them aecOri
. ing TO their respective shares, and all profits arisiI
rs therefrom shall be semi-annuaIly accounted for. Al
so much Of said profits rs shall appear advisable
sc the Beard shall be divided, and a dividend shall
declared on the fist Tuesday in February and Il
Ii first Tuesday IN August In each year in which su,