The Jeffersonian Democrat. [volume] (Chardon, Ohio) 1854-1865, 1859-07-22
[ No. 2l5.]
AN ACT

Supplementary 10 " an act to provide for the crea
tion and regulation of incorporated Companies
in the State of Ohio" passed May |, 1882.
SEcrroN |. BE Il enacted by tie Gen
erol assembly If tie State Of Ohto,
That whenever any number Of persons, ms required
by the first section OF the act to which tins Is sup
Elementary. associating to form company tor the
purpose oi improving any stream OF waler,nr any
part thereof, heretofore declared nav'gable 10y any
O the laws OF the State OF OHIO, they SHALL under
their hands aud seals, make a certificate when
they shall specify as follows First. The name
assumed by such company, and by which II snail
be kn1wh Second, Commencement and ter
mini OF said improvement, and the counties 'llfohGl
which the same shall pass Third. The amount
OF capital stock necessary To maj ke said improve
mcnt, not less than ten thousand dollars, ana ile
amount OF each share. Such ceruhcale snail De
acknowledged, certified, and forwarded to the
secretary oi state recorded and copied in the same
manner as Is provided IN the second section ol the
act to which this 10 supplementary, and SAID ccril'
cate shall also be recorded III the recorder nihce
al the county in which such company shall have
It's principal Office for doing business, and when
50 incorporated, are hereby authorized 10 make
said Improvement by the cleaning on OF sald
strtam or streams, erection oi dams, locks ana
all ether things necessary lOr such improvement
ms may he named in their certificate oi lucorporn.
ton, aud by the name und stylo provided in said
certificate shall be deemed body corporate, with
succession. aud they aud their associates to have
the said general powers as Is provided IN the thlTd
Section OF the act To wilCn ln'S Is sllppleHicnlTy
Src. .. That the corporators named IN said
certificate shall opon the book OF the said company,
for subscription to the capital stock ol said cOnpa-
NJ and 81 soon thereafter fifty per cent OF tho
capital shall he subscribed land paid IN money
they shall call meeting of the persons who have
subscribed stock aforesaid and shalt then and
there proceed To elect five directors, who shall be
stockholders in the said company, who shall hoI'
their office us such directors for year from anC
after said election, and until their successors arr
elected aud qualified, one o whom shall bo prcsi
dent, aud one treasurer and one secretary, 10 b,
named on !he tickets when voted t0fsly the stock
holders IA Aforesaid. Each stockh0lder snail bt
entitled Ia one vote for each and every share q
stock that he NAV own, aud after the first clccilD'
no stakeholder sha II be entitled 10 a greater mum
her of votes han the number OF shares ho may have
paid into the said company.
SIC. 3. That the treasurer OF sahI company
before entering upon the duties ol his office, shall
enter into bond with good and sufficient security
tu be approved Of Ivy said board oi directors, pay
able to the sad company, condluoned Tor he aIlh
ful performance Of nll aud singular the duties %
his sand office, and that he will well and truly ne
count for and pay over Ia the said company AT
moneys and property that shall from time to llm'
come INTO hi+ hands by virtue OF hi7 snld ohcr
and that he will use due md proper diligence Il
collect all moneys and demands that from Time Il
time shall be- due and owing To the said COMPANY
which shall he his duty by law to collect
SrC' T. The president shalt prosde at all meet
lngs when not otherwise incapacated, IN whlc
Case, or in OF his absence, the board ol direc
tors shall choose president from among tlci
number, who shall perform the du,ies OF the pres
ident at such meeting, aud perform such othc
duties may from time tn time be pointed out b
the by laws and rules of the snid company.
SEc, s., The secretary shall keep record of a
meetings of the board OF directors'and other pr
ceedlngs of said company not required Ia he pc
formed by any other of the officers of said boar
and per form such other aud further duties as mt
be assigned him from time 10 time by the ru'
and bylaws Of the said company.
SEC. g. That the said company shall have pow
er from time 10 time, mt any regular meeting
the board of directors, to make, alter or chang
such bylaws and rules for the government oi Il
said company.
Sgc. :. That the directors of the said compar
shall have power To prescribe tho rates OF toll sa
company shall be entitled to receive for the pas
age of any bont or other water craft of nny lock
locks upon said improvement, or for the runni
of any boat or other water craft between the loo
OH said improvement.
SIC 8. That the compensation of the preside
and other officers of such company shalt he regu
ted aud fixed by the rules and bylaws Of su
company from time to time
WILLIAM B. WOODS,
Speaker of The House of Representative
MARTIN WELKER,
President OF the Senate.
April 6, 1859.