The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1867-01-10
.l.e Acts Passed by the Legislature.

AN ACT TO AUTHORIZE AND REGULATE TIL
THE CREATION OF PRIVATE CORPORA
TIoNs WITHIN THIS STATE.
SECTION 1. Be it enacted By the Senat'
and House of Representatives, nolo met ana
siittiaqin General Assembly, and by aathor
sty of the same, That private corpora
tion for any purpose whatever, excepting
banking, insurance, constructing rail
roads, canals, turnpikes, bridges, cause
ways and ferries, making and selling gas
for light in and for any city, town or vii
lage, supplying the inhabitants of any
city. town or village with water, manu-
featuring or distiliing spirituous or intoX' y!
icating liquors, and, also excepting mill
tary, fire and lottery companies, may be be
created in this State, by complying with
the following provisions:
1. A petition by the persons desiring q
charter to the Court of Common Pleas,
for the District where a majority 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 it's capital stock, if any there be, the
privileges they desire to exercise, and the
name and style-by which they desire to
6esincorporated, (notice of such applica-
ton having been first published once a
week for two months, in one or more
public gazettes nearest to the point where
such business is to be located.
o:2. If upon hearing such petition, the
said Court, or the said Judge or Chancel-
Tor at Chambers, shall be satisfied that
the application is legitimately within the
purview and intention of this Act, and
not inconsistent with the public welfare,
the said Court, Judge, or Chancellor, as
the case may be, shall pass an order de-
claring the said application granted, and
the petitioners and their successors lncor-
poorated for and during a term not ex-
ceeding fourteen years, with the privilege
of renewal at the expiration Of that time,
according to the provisions above set
forth, and the said petition and order
shall be fled in the Office OF the Clerk OF
the said Court for the District in which
the business of the incorporation is to be
transacted, and it shall be the duty OF
the said Clerk to record the same in a
book to be procured by him for the pur-
pose, at the expense of the funds in tho
hands of the Commissioners of Public
Buildings for his District, and he shall
also forward certified copy thereof to
the Secretary of State, to be filed in his
office, A certified copy of said petition
and order, under the seal of the said
Court shah be evidence of such mcorpo-
ration in any Court in this State.
8. The Individual members OF such cor
porations, whenever the object of the as
sociation is for the purpose of trading or
trausacting business for profit shall be
Sointly and severally bound for the ulti-
mate payment of all the contracts of said
companies, incurred while they are MEM
bers Of the same.
a. The Clerk of. the Court for his SER
vices in each case shall receive the sum
of two dollars. .
S. Corporations thus created, shall
have succession of officers and members,
power and authority to make all bylaws
not repu 6nant to tho laws Of the land, to
have and use a common seal, and the
same to alter at will, to sue and be sued,
nIead and be implicated in any Court
of law or equity in this State, and may
exercise all 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 legitimately car
rying into effect such purpose, or for Sc
curing debts due to the company.
6. A private corporation for the pur-
pose of carrying on agricultural, mechan-
ical, mining or manufacturing business,
except that of manufacturing or distil-
ling spirituous or intoxicating liquors
may be created without the stockholders
incurring an individual liability for its
Indebtedness by complying with the fol
lowing provisions:
z. A declaration in writing by the ap.
plicants, specifying the object of their as
ISOLATION, and the particular business they
propose 10 carry on, together with their
name, and the amount of capital to be
employed by them, and the time, not ex-
ceeding thirty years, for which they de-
sire to be Incorporated; which declara.
ton shall be signed Dy all tne slocknoiu,
ers, and accompanied by the affidavit Of
the President, taken before some person
authorized to. administer oaths, of the
amount of-capital in gold and silver, OF
current funds, or property, at its sworn
valuation actually paid in, owned and
employed by such corporation.
g. 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 in
book to be procured by him for the ,pulr
pose at the expense of the funds OF the
Commissioners of Public Buildings for hi:
district, as hercinbefore provided, ano
shah also be published once week fo1