The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1867-01-10

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10. If the affidavit taken by the Presl-
dent, as hereinbefsre provided, be false as
to the amount of capital, bona tlde PAID
in, owned and employed by such corpo,,,
ration, each and every corporator shall
be Jointly and severally liable for all debts
and contracts made at any time by said
corporation. c., .,n.
ii. The whole amount of the lndebt-
ness of such corporation, not counting its
capital stock, shall not, at any time, ex-
ceed the capital stock actually paid in.
And in case Of q violation of this provls-
ion, the officers and agents by whom such
excess shall be created, shall be jointly
and severaly liable to the extent of such
excess, for all debts Of the company then
existing, and also for all debts contracted
while they are in Office, until the debts
shall be reduced to the amount OF the
capital stock actually paid in.
IL. If the officers or directors of such
corporation shall declare and pay any
dividend when the company is insolvent
or any dividend, the payment OF which
would render it insolvent, or which would
diminish the amount of its capital stock,
they shall be jointly and severally liable
for all the debts Of the company then ex-
isting, and for all that shall be thereafter
contracted while they shall respectively
continue in office; Provided, That if any
of the officers or directors shall object to
| the declaring of such dividend, or to the
payment of the same, and shall at any
time before the time fixed for the pay
ment, file a certificate of their objection
in writing with the Secretary of the COM
pany, and with the clerk of the Court Of
Common Pleas for the District in which
the business of the corporation is trans
acted, they shall be exempt from said lia-
bility.
Is. Every such corporation shall annu-
ally, within twenty days from the first
day of January, make q report, setting
forth the amount of its capital, the pro-
portion thereof actually paid in, and the
amount of it's existing debts; which re-
port shall be signed by the President,
verified by the oath of the President or
Secretary, and filed in the office Of the
Clerk of the Court for the District where
the business of the company shall be car
ried on; and upon failure so to do, all the
officers and directors of the company
shall be Jointly and sevcrally liable for all
the debts of the company then existing,
and for all that shall be contracted before
such report shall be made. And if any
certificate or report made in pursuance
hereof shall be false on any material rep
resentation, all the officers who shall have
signed the same, knowing it to be false,
shall be jointly and sevcrally liable for all
the debts of the company contracted
while they are stockholders or officers
thereof
IA. The stockholders of such corpora
ton shall be jointly and severally indi-
yidually liable for all debts that may be
due and owing TO all their laborcrs, SER
wants and apprentices, for services per-
formed by such corporation.
Is. Such corporation shall have power
and capacity to purchase, take and hold,
in fee simple or for years, such real and
other property as may be necessary for
the purpose of their organization, or such
as they may take in settlement of any
debt to due them, and may dispose OF tho
same, and shall have succession of Off
GERS and members, power and authority
to make all bylaws not repugnant to the
laws of the land, to have and use com
! mon seal, and the same to alter at will,
to sue and be sued, plead and be implead-
ed, in any Court of Law or Equity in
this State, and shall have and enjoy all
corporate powers necessary tor the pur-
nosa of the corporation, not inconsistent
with the laws OF this State.
l6. 1t shall be the duty of the officers
or managers Of every corporation or
company formed or created under this
Act, to cause book to be kept by the
treasurer or clerk thereof, containing the
names of all persons, who shall within
four years have been stockholders of such
company, and showing their places of
residence, the number of shares OF stock
held by them respectively, and the time
when they respectively became the own
ers thereof which book shall be kept at
the Office or principal place of business of
such company, in the district where its
business operations shall be located, and
shall. be at all times, during the business
hours Of the day, open for the inspection
of stockholders and creditors of the COM
pany, and their personal representatives.
And any and every such stockholder,
creditor or representative, shall have q
/ right to make extracts from such book,
| and such book shall bo presumptive evil
dence of the fact therein stated in favor
of the plaintiff in any suit or proceeding
against such company, or against one Or
more stockholders. And every officer or
agent of such company who shall neglect
to make any proper entry in such book,
or shall refuse or neg lect to exhibit the
same, or allow the same to be inspected,
and extracts taken therefrom as provided
hereby, shall be deemed guilty of mis-