The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1866-12-30
Act. Passed, by tho Legislature.
TO AUTHORIZE THE CREATION OF PR
yATE CORPORATIONS.


Private corporations for any pur-
pose whatever, excepting banking,
insurance, constructing railroads,
canals, turnpikes, bridges, causeways
and ferries, making and selling gas
for light in and for any city, town or
village, supplying the inhabitants of
any city, town or village with water,
manufacturing or distilling spirituous
or intoxicating liquors, and, also ex-
cepting military, fire aau lottery
companies, may be created in this
State, by complying with the follow
ing provisions:
A petition by the persons desiring
q charter to the Court of Common
Pleas, for the District where a ma
jority of the corporators reside, or in
which they may desire to transact
business, or to q Judge or Chancellor
at Chambers, setting forth the object
! OF their association, the amount Of its
capital stock, if any there be, the
privileges they desire to exercise, and
the name and style by which they
desire to be incorporated (notice Of
such application having been first
published one week for'two months.
in one more public gazettes nearest
to the point where such business is
to be located.) If the application is
legitimately within the intention Of
this Act, and not inconsistent with
public welfare, the said Court, Judge
or Chancellor, shall pass an order
declaring the said application grant
ed, and the petitioners and their sue
cessors incorporated for term not
exceeding fourteen years, with the
privilege of renewal at the expiration
of that time, according to the pro-
visions above set forth; and the said
petition and order shall be filed in
the Office of the Clerk Of the Court
for the District in which the business
of the corporation is to be transacted; :;
and it shall be the duty of the Clerk
to record the same in o book to be
procured by him for the purpose, at
the expense of the funds in the hands
of the Commissioners Of Public Build
ings for his District; and he shall also
forward certified copy thereof to
the Secretary of State, to be filed in
his Office. The individual members
of such corporations, whenever the
object Of the association is for the
purpose of trading or transacting
business for profit, shall be Jointly
and severally bound for the ultimate
payment of all the contracts of said
companies, incurred while they are
members of the same. The Clerk of
the Court, for his services in each
case, shall receive the sum of two dol
lars. Corporations thus created,
shall have succession of officers and
members, power and authority to
make all bylaws not repugnant to
the laws Of the land, to have and use
q common seal and same to alter at
will, to sue and be sued, plead and
be impleaded in any Court of law or
equity in this State, and may exercise
ell corporate powers necessary to the
purpose of their organization, but
shall make no contracts or purchase.
or hold any property of any kind
except such as is necessary in legiti-
mately carrying into effect such rur-
pose, or for securing debts due 20 the
company.
A private corporation for the pur-
pose Of carrying on agricultural
mechanical, mining, or man ufactur-
ing business-except that of manu-
featuring or distilling spirituous or
intoxicating liquors-may be created
without the stockholders incurring
an individual liability for its indebt-
edness by complying with the follow
ing provisions: A declaration in
writing by the applicants, specifying
the object of their association, and
the particular business they propose
to carry on, together With their name,
and the ar1ount Of capital to be en-
ployed by them, and TIE time, not
exceeding thirty years, for which they
desire to be incorporated; which
declaration shall be signed by all
the stockholders, and accompanied
by the affidavit of the President,
taken before some person authorized
to administer oaths, of the amount of
capital or property, at its sworn
valuation, actually paidin, owned and
employed by such corporation. Such
declaration and affidavit shall be filed
in the Office of the Clerk of the Court
of Common Pleas for the District
where the business is proposed to be
transacted, to be by him recorded,
and shall also be published once q
week for two months in one or more
public gazettes nearest to the point
where such business is located, the
! eypaDSp 0f sucb nubIiootiOD to ba