Meigs County telegraph. [volume] (Pomeroy [Ohio]) 1848-1859, 1859-06-07
AN ACT

L lcoluSHh VI bhO hOheseOs
March 18, 1859.
To enable Associations of Persons, for the
Improvement of any Mineral or Medicinal
Springs in Ohio, to become Bodies Corpo-
rate. Il
Section :. Be it enacted by the General As
serpbly, Of the State Of Ohio. That any num-
! ber Of natural persons, not less than iye, may
lsbeeeme q bodg corpotates with all the rights,
privileges and powers conferred. and snbjects
| to all the restrictions OF this act.
Sec. Q. That any number OF persons as
| aforesaid, assocating themselves together for
| the purpose of Improving any of the mineral
springs in the State of Ohio, and making the
same proper and suitable place for the re-
| ception and accommodation of invalias and
| other visitors, shall under their hands and
seals make n certificate, which shall specify
as follows: First-The name assumed by such
| company or association, and by which 1t shall
| be known. Second-The number of mineral
or medicinal spriRgs to be improved as alore-
said, and place where situated. Third-The
amount of capital stock necessary, and the
| amount of each share thereof. Such ceItii-
] cate shall be acknowl edged before justice
OF the peace, or other proper officer, and shall
| be forwarded to the Secretary of State, who
shall record nd carefully preserve the same
! in his office; and copy thereof duly certi-
| fed by Secretary Of State, under the great
seal of the State of Ohio, shall be evidence of
| such corporation or company.
! Sec. 8. That when the foregoing provi Sions
have been complied with, the persons named
as corpoTatOrs in SAID certificate, are hereby
authorized to carry into effect the objects
ramed in said certI6cate, i" accordance with
the provisions of this act, and they and their
associates, successors and assigns, by the
name and style provided in said certificate,
shall thereafter be deemed body corporate,
with SUE cession, with power to sue and be
sued, plead and be impleaded, defend and be
defended, contract or be contracted with ac,
quire and convey, at pleasure, all such real
| and personal estate as may be necessary ana
| convenient to carry into effect the objects oil
| the Incorporation; to make and use a common
| seal, and the same TO alter at pleasure, and
do all needful acts to carry into effect the
| objects for which it was created; and such
company shall possess all the powers, aud
shall be subject to all the rules and restrlc-
tions of this act.
| Sec. 4. ANY company or association, organ
| lied for the purposes aforesaid, shall have
mower TO take by purchase or otherwise, and
| hold such real and personal property and es-
| tate, may be deemed necessary Tor success
| fully commencing and conducting the busl-
ness of the association, and shall have power
| to lease, sell or convey, or mortgage the same,
or a part thereof, in such manner and for
such purposes as may be prescribed by the
rules and regulations OF the company, ana
not inconsistent with the laws of this State.
And said company shall also have power to
deal in tn e transportation and Sa lie OF the MIN
eral waters yielded by their springs, and to
man facture glass and other vessels fof hold
ing the same; to engage in quarrylng stone,
marble or slate; mining coal, ores and other
| minerals situated on their lands, anu manu-
featuring the same, in whole or n part, or
both, and to erect and provide buildings for
the accommodation OF visitors and others Ire
quenting said spring or spungs, ana TO de-
mand and receive compensation from SAID per
son or persons.
Sec. s. The annual meeting of the stock
| holders of Snph rOmnanieS shall be held OH
the first Tuesday Of May, in each year, at
which meeting the directors OF the company
shall be elected, and such other lawful buSl-
ness done as the stockholders shall deem
necessary and proper, and should they fall TO
elect directors at their annual meeting, they
shall hold special meeting at some subse-
quent time thereafter for the purpose by gIV-
ing thirty, days notice thereof IN some news
paper in general circulation in such county.
The directors shall hold their offices until
their successors are chosen and Quallfed; but
no person shall be director after ceaslng to
be stockholder. Immediately alter the elec-
tions of directors, they shall eiect one oil
their number president of the corporation,
and may appoint such other ofhcers ana
agents as they may deem proper 10 transact
their business and prescribe the amount ol
compensation to be allowed them Tor their
; tservices; and such officers and agents, or Ell
ther of them, when required by the bylaws,
z shall give bonds to the satisfaction OF the dl-
, rectors or president, as the bylaws may dl-
| rect, Tor the 1alLnIul discourage VI LhO IluSt
, committed to them; shall have power ana are
hereby authorized to make such rules, regula-
tions and bylaws as may be necessary ior
their regulation, not inconsistent with the
constitution of this state. The ulTec'ors Shall
have the general management OF the aHallS
of the company, and may dispose of the resi-
due of the capital stock at any time remain
ing unSubscribed, in such manner as the
stockholders for the time being may prescrloe,
and shall employ the capital ana means OF
| he as thew shall deem best tOf the
company, in carrying on the business foI
which it was organized, and the rectlng oil
proper buildings, and tue Improvement ol
their grounds and other proper purposes
, connected with and pertaining to the said
business of the company, subject always to
, the control of the stockholders; they shall
! cause record to be kept of all stock sub
scribed and transferred, and of all business
transactions, and their books and records
shall at all reasonable times be open to the
inspection of any and every stock holder, they
shall also report to the stockholders re-
| ports In writing, of the situation snd amount
of business OF the company, and declare ano
make such dividends of the profits from the
. business of the company, not reducing the
= capital stock while they have outstanding
l liabilities, as they shall deem expedlent.
, Sec. 6. The persons named in SAID certl'
= ficate of Incorporation, a majority of them
;, shall be commissioners to open books fol the
J subscription to the capital stock OF said con-
= pany, at such times and places as they shal
I deem proper, and the said company are au
i thorized to commence operations upon the
: subscrip ton of ten per cent. of said stock.
Sec. Z. An installment of twenty dollars OF
> each sh are of stock shall be payable at th'
y time of ma king The subscrpton' ana the res
: due thereof shall be paid IN such lhstalt
ments and at such times and places, ana u
9 such persons, as may be required by the di
: rectorS of such company:
IL Sec. 8. All stockholders of any such asso
+, citation or joint stock company shall be deeme'
and held liable to an amount equal to thel
: stock subscribed in addition to said stock TO
= the purpose of securing the creditors OF SAT-
! | company.
q Sec. 8. This act shall take effect from an
d after Its passage.