Nebraska advertiser., 1857-06-11
ARTICLES OF INCORPORATION
OF THE
NEBRASKA SETTLEMENT

TTTTUTDV-- vi. TITOWUsCUI-UC d t IUITLsg OCIUIU =
OImstead & P. Bartlett, James L. Giddings, Robert
". Furnas, and S. B.. CoWles, our heirs and assigns.
do hereby associate ourselves tOgeshera IS incOrpora-
tors for the purposes and uses expressed in these
articles of Incorporation, and do by these presents
constitute and declare ourselves & Body corporate
and polite with succession under the name and
STYLE as given in the following articles, agreeable to
chapter Third of an Act of the Legislature of Ne
braska Territory, entitled San Act FOR revising, con-
solidating, and preparing a general Code for the Ter
ritory Of Nebraska" approved Jan. 25th, AID, 80.
ART. 2. This Association shall be known by the
name of the Nebraska Settlement Company. The
number Of shares Of capitol stock shall not be less
than twenty nor more than five hundred Of FIVE hun
dred dollars ereh; but the price of these shares may
be raised at any regular meeting Of the Board of
Directors, by a vote Of tWo-thirds present and voting.
Art. 3. Every member Of this association shall
pay at the time Of his or her subscribing to the con-
stitution, the sum of twenty dollars per share so
subscTibedby 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 Board Of Directors, and allow the same to
remain unpaid for the space of thirty days, the Board
shall thereupon be 9. thorized 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, o Treasurer, a Secretary and Seven Directors,
all of whom shall be chosen annually by ballot, and
they shall have full power to make. alter or change
their own bylaws
ART. 5. 1t shall be the duty of the General Su-
perintendent to receive subscriptions for capital
stock, sell shares representing city lots, and to attend
to the correspondence andthe active business of the
company. an monies received by him shall be paid
monthly to the Treasurer. He shall give bonds
fas ~ - -
wbiehmay be in his hands, and he shall receive for
his services such sum as shah be fixed upon by the
Roard. n,
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 do and 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. lie 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 the 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 pay 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 any
member of the Association, and exhibit a balance
sheet at every regular meeting Of the Board. He
shall give a bond with atleast 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 of good moral character, as shall,
with the consent of the General Superintendent
subscribe to the constitution, own one or more shares
of stock, or shall have received donations from the
company; and they do mutually agree to protect each
other in the maintenance Of their lawful rights, ana
to act together in the promotion Of their mutual
interests.
ART. 9. ANY member Of his company NAV trans
fer a 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 to Wbona the
transfer is made shall sign the constitution, and thew
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 be held on the first Tuesday in February in
each year, at such place or places as the President
and Board of Managers may designate, till one-tbird
Of the stock taken shall be owned by persons resid-
ing IN the settlement made by this COMPANY in Ne
braska; after which time, they shall be held at Table
Rock, Nebraska. The officers and managers shall
hold regular meetings once in three months, at such
places and on such days as they may appoint. Special
meetings may be called by the Presidentand Secret'v
Special meetings of the Stockholders may be called
upon the written request of ten members. notice
thereof being given by the Secretary at least one
month before such meeting shall be held.
ART. IL. Every owner of capital stock shall
have one vote for every share Of stock held by him
or her up to four shares, and one vote for every two
additional shares up to twenty; but no member shall
in any case be allowed more than twelve votes on
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. II. 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 or for
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. The
Board shall not have power to sell to any one person
to be held in their own right at the same time, more
than eighty acres of land lying within circuits Of
three miles square, the centre of the city plots being
the centres Of such squares or circles, nor more than
three hundred and twenty acres of land of said
company lying outside Of said squares: provided
that any person so owning eighty acres within said
circuits may hold sufficient land outside said circuits
to make in all 800 acres. The company shall moi
sell to any person any land till he or she shall have
subscribed to this constitution.
ART. L. Every Stakeholder shall be entitled tC
purchase property of the Association at the current
price thereof to the amount Of one thousand dsllars
and haYea credit of seven years thereon by paying
one seventh OF the principal and all the interes
annually; provided, he or she will occupy the same
and has paid for his or her stock, and one share O
the purchasers stock, and the property so purchased
shall be held as security for the payment thereof.
ART. 13. No member of this company shall b.
allowed to sell intoxicating drinks as a beverage
within the bounds of any of the settlements mad
by this company. In case any member of this com
pany shall be convicted of so doing, he OF she shall
forfeit all his or her right and interest in this com
: pany, and all his or her title to lands procured from
the company, and this forfeiture shall be regarde,
as real and stipulated damages to the company 70
( such an offence, and the property so forfeited shall
2 be appropriated by the Board to the benefit of school
r in the town or ward where the offence was com
- mitted.
ART. Is. The Board shall have power to issu
f certificates of stock to be redeemed In town LOTS
1 The price of such stock shall be fixed at $50 share
= but It may be raised at any time by the Board at
e regular meeting thereof. The President of the Boar
shall call meetings of the holders of such shares q
often as once in three months in the towns wher
such shares are to be redeemed, for the purpose {
= drawing for lots; and when such lots are drawn tn
owners thereof shall be entitled to a good and sufi
eient deed therefor. The Board shall have powC
to donate town OK city lots for moral, literary or re
ligious purposes.
ART. 16. The President and Board of Director
{ a majority of whom shall form a quorum, shall hay
full power to manage the affairs of the compan
generally, to purchase real estate, to improve, Sc
and dispose of the same under the regulations prC
vided by the constitution and the bylaws. II
property sOpurchased shall belong to the stockholde
of the capital stock, to be enjoyed by them accord
IT,, ALo,- .cz.ooA.-,- - - n -