The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1871-04-08

the first day of March, in The yhar 6f .UiiR
Lord one. thousand eight hundred and
sixty-nins, be, aud the 5ane. ia hereBYo
80 altered and amended that, the eaiH
Columbia Building ahd Loan Aasoc iufion
may bavel power to take, purchase aud
noid real estate, and, to sell land, tfahafsv
the same from time to time to ita mHu1i
bers, on such teEms and uudor such cona
ditlons, and subject to such reg 5a!!ss.:zs:.s:s
as may be: prescribed by tho ,ralea and
bylaws OF said sooxporhtion:oP Il PSbuneN
ihat tho real.asaase. held by said corpp-
ration shall not ct any, tipe exceed tho
Approved tie 9th. day of Rs6euary.
A. ID. 1871. as1l rr.5l5I ~, :ssSt s 20, =
AN ACT, TO, 1NcoRRoaAI3E gisa{ sus q SffSp1
BUILDING AND LOAN AssodltA9S Ssb 3ok
SECTION l. Be il enacted by tIieIEena.oD
aud House, Of. Representative snfI the
State of South Carolina,. now imei and
sitting in General Assembly, and bytsGo
authority Of the Same. That Joh1t AHHaSs
". J. Caluan. james A. Dunbhr, ". .En
Nash, W. Simons. 8. 3. ThampsQp, 1ohu
McCord, r. ETomliuson. @. y. Pnffer; W.
3. Hague, Timothy Hurley, together
With other persons who now arss SE here
after mny be, associated with sthhh.t De,
and they arc hereby, declared $aShndy
polite and corporate, for the purpose OF
gage. on real estate or persoGIa lpronertv.
or hy conveyance of tie samestn thsir
members aud stockholleras by the name
and style Of the Capitol Bdildihf finhR
Loan Association, OF Colombia, Lie tae1c "a nSn pi7,
al stoak or which aball consist Of ione,
thousand SHARES, to- he paid: id by succeai
sivo monthlys inataiuaehts iof :dneq dolfap
on each share. so, long as the corpSothff3iK
shall contih1e, Tie said said Ill ares Re foI fe feld.
| TRANSFORMED, assigned. aud pledaed.. and
the holders the feofl 10 be eisntiietts % huch
ines hbd. fdf4eitqrea fot idafah1t III their
paYnlenA, aaeoGdinR,t ,tb snchireQuI6t3ona
as may ia pEesaf, ,beI, .bE st6ai ,byllawRo Of
sairl corporation % eIooa ico1s go ~
SEC q! Tiiatt said co rpufa tiiInShalf
hare poYef and, authority 10 ,makaang:
such; rules ,ands briIaWa DOR, iib- -Gngsrn.
ment as are hoslrspuKnantt ttutha C6ustii
tuition and laws Of tie ilanJ;. shan bsyN
such membpfa and 81 sGf mem. gaca
bers and officers as shall be ordhuiiued and
| chosen according to the said rules and
by-laws made, or to be nude; bY them.
| shall haye and keep O. complp4 eeal, aud
! mny alter tue anune a. will, may sue and
W piCuu t1uu O6 iIuQi6uOeQ1Q 4QY
court OF lag, or equity in ,this State, and
! shall have and 'enjuy ill and every right
uDd privilege. incident, and iubslopeiug
to corporate bodies,r according Ito tho
laws OF the land. r .ia ran sG}2i;sLSttHf
SEC. g. That the said corpUrationl shalf
have powerto take. purchase and hold
real estate. and to Sell and transfer the
same. from time TO time, to it's members.
on such terms aud under such con6;.
tions. and subject to such regulations aa
may be prescribed. by the rules ,nnd, by
laws OF said corporation: PTovided,S That
tue real estate held by said corporation
shall not at any time exceed the value of
two hundred thousand dollars.
SEQ 4. That tie fuDds Of said corpo,
raticn shall be loaned and advanced to
the members and stockholders. upon the
security of real and personal estate. and
usod iu the ;pasohuse, Of real estate for
the benefit Of it's members and stock-
holders, OF such terms. and under such
conditions, and subject to such reguia-