The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1870-03-26

citation, the amount of the capital stock,
the amount actually paid in, and the par
value OF the shares in the corporation,
and shall Ale copy thereof with the
Clerk of the Court of Common Pleas, in
the County wherein the corporation is
situated, to be by him recorded in a
book kept for the purpose. Within thirty
days after the payment of any INSTALL
ment called for by the Directors, a cer-
tificate thereof shall be in like manner
signed, sworn to, deposited, filed and re-
corded.
SEQ. II. When he capital stock and
creased or reduced, under the provisions
of Section IA, n certificate thereof shall
be made, signed, sworn to, deposited and
recorded in the manner aforesaid.
Sec. 18. Shares may be transferred by
the proprietor by an instrument in
writing, under his hand, and recorded
by the clerk of the corporation, in book
to be kept for that purpose. The pur-
chaser named in such instrument, so re-
corded, shall, on producing the same to
the Treasurer, and delivering to him the
former certificate, be entitled to q new
certificate.
SEC. 10. Every Company may, from
time to time, at u legal meeting called
for the purpose, assess upon each share
such sums of money as the Company
think proper, not exceeding, in the
whole, the amount of which each share
was originally limited, and such sums
assessed shall be paid to tho Treasurer
at such times and by such installments
as the Company directs. No note OF
obligation given by the stockholder,
whether secured by pledge or otherwise,
shall be considered as payment Of any
part OF the capital stock.
SEQ. 20. If the proprietor of any share
neglect to pay sum duly assessed
thereon, for the space of thirty days af-
ter the time appointed for payment, the
Treasurer of the Company may sell at
public auctions sufficient number of
his shares to pay all assessments then
due from him, with the necessary Incl
dental charges.
SEC. 81. The Treasurer shall give no.
tice of the time and place appointed for
such sale, and of the sum due on each
share, by advertising the sane three
weeks successively before the sale, in
some newspaper printed in the County
where the corporation is established, and
if there is no such paper, then in some
newspaper printed in an adjoining
County, and deed of the shares so sold,
made by the Treasurer, and acknow-
lodged before Justice of the Peace or
Magistrate, and recorded as provided in
Section IS, shall transfer said shares to
the purchaser, who shall be entitled to
certificate therefor.
Sec. %. The members Of every Com
pany shall be jointly and severally liza
BILE for all debts and contracts made by
the Company, until the whole amount of
capital stock fixed and limited by the
Company in manner aforesaid, is paid in
and certificate thereof made and re-
corded as prescribed III the following
Section.
SEC. %. The President and Directors,
with the Treasurer and Clerk of such
Companies, shall, after the payment Of
make certificate, stating the amount Of
the capital so fixed and paid in, which
certificate shall be signed and sworn to
by the President, Treasurer, Clerk. and
majority of the Directors, and they
shall cause the same to be recorded in
the Registry Of Mesne Conveyance .for
the County wherein the corporation is
established.
SEC. "a. If Company increases its
capital stock as before provided in this
Act, the officers mentioned in the pre-
ceding Section, after payment of the last
installment of such additional stock,
shall make certificate of the amount so
added and paid in, sign and swear to the
same, and cause it to be recorded in the
manner therein provided.
SEQ. 25. If any of said officers refuse
or neglect to perform the dnties required
of them in the two preceding Sections,
they shall be jointly and severally liable
for NIL debts Of the Company contracted
after the expiration of thirty days from
the payment of the last installment, and
before snch certificate is so recorded.
SEC. 2G. If q corporation diminish its
capital stock as hereinbefore provided, n
certified copy of the resolution or vote
for that purpose shall be recorded in the
Registry of Mesne Conveyance for the
County wherein the Company are estab-
lished, and in default thereof, the Di-
rectors of the Company shall be jointly
and severally liable for all debts of the
Company contracted after thirty days
from such reduction, and before the re-
cording of such copy.
Sec 81. Ifany part Of the capital stock
of n Company is Withdrawn and refunded
TO the stockholders before the payment
III