The Newberry herald. [volume] (Newberry, S.C.) 1865-1884, 1871-03-01


and shall be able and empowered
by law to purchase, have, hold, en-
joy and possess any goods, chat
tells, lands, tcncmcntS or real estate
Of what kind or nature soovcr
and tho same, or amy part thereof,
TO sell, alien, or convey at their
will and pleasure Provided, ho,o-
cvcr, That the property so to be
held shall not exceed the value Of
five thousand dollars; and tho said
corporation shall havo power to
mako Il common seal, with power
to change and alter the Same a.
aften MS they shall deem ncccssa-
ry.
SEC. 2. And bcit further enacted,
That this Ac. shall bo deemed Il
public Act, and shall continue in
force for the term Of fourteen years.
Approved February l1th, 1871.
an ACT TO INCORPORATE TIE SOUTH
CAROLINA SAVING AND BUILDING
ASSOCIATION, NO. 2.
SEcrloN |. Be It enacted by the
Senate nnd Uou"c Of Representatives
| Of the St,nc Of .SoUA Curoiina, noe
mctnnd sitting IN General assembly,
dnd by tie authority of tie same,
That g. ID. Brahc, G.. Plrngc, }.
Stcibcr, r. Isscrtcl, Henry II.
Eckcl, NJ. Israel, a. Ticirn,hal, +.
+. Bcncdlcltt, Philip Mcitzler,
John Rughcimcr. 4. W. Ezekiel,
Charles LitSchgi, a. Nicmann,
Edward Pills, Il. Klein, \. Lifts
chgi, John NJ. Martin, j. II. Vol
Icrs, Charles Rocsslcr, Il. Icintz,
and G. o. Michsaclis, together
with such other persons who now
are, or hereafter may be, associa-
ted with them be, and they arc
hereby, incorporated and declared
Il body polite and corporate, un-
der the name and style Of the
South Carolina Saving and Build
ing Association, No. 2, for the
purpose Of buying and selling real
and personal estate, and making
loans Of money, secured by mort
cages Of rca! and personal proper
ty.
SEC. 2. That the capital stock
Of the said corporation shall con
sist Of thirty shares, to DC paid in
by successive week y instruments
Of two dollars on each share, so
long rs the corporation shall con-
tinuc, or by such other contribu-
tions rs shall bc assessed and re-
| Quircd by an unanimous vote Of
all the shareholders, the said
shares to be held, transferred, as
signed and pledged, and also to be
liable to be forfeited to Tic corpo-
ration, and the holders thereof to
be- subject to such fines and for
FIXTURES for violation Of the Con-
stitulion, Rules and bylaws, and
for default Of payment Of the said
contribution as may be prescribed
! by tho Constitution; Rulcs and
bylaws Of the said corporation,
and: moreover, the said shares to
be disposed Of ut the death, resign
alton or removal from the State Of
any shareholder, in such manner
as may be prescribed by tho said
Constitution, Rules and By-L
SEC. 3. That the said corpora
ton shall have such number and
succession Of officers and members
as shall be ordained and chosen
according to the Constitution,
Rules and B,;%Laws made, or to
made, by the%%Aid corporation for
it's government, ana shall have
power and authority to make any
such Constitution, Rules, or By
Laws as are not rcpugnant to the
Constitution and laws Of the land !;
shall have and keep Il common
seal, and alter the same at will,
shall sue and bc sued, plead and
be implicated, in any Court Of Law
or Equity in this State, and shall
have and enjoy all and every right
and privilege incident and belong
Ing to corporate bodies.
SEC. +. That tho funds Of the
said corporation may be invested
in such property, real or personal,
and securities, public or private,
and loaned to shareholders and
members or other persons or cor.
porations on such securities, in
such mode, on such terms, nndGr
such conditions, and subject to
such regulations, as may be, from
time to time, prescribed by the
Constitution, Rules and bylaws
Of the said corporation, ard it
shall and may be lawful for the
said corporation to take and hold
such lands, teuemcnts and hcridi-
trmcnts, and personal property,
bonds, stocxsj public or private,
and chooses in action, as they shall
acquire by purchase, devise, be-
quests, gifts, assignments, or 9th
crwisc, and to take and hold
such lands, ttncmcnts, hcridita,
ments and personal property, and
snch other stocks and bonds, pub.
lie or private, or chooses in actio.:,
as shall be mortgagcd, conveyed,
assigned or pledged to it By way
Of security upon its loans or ad-
| YaurnS or DurrhaSo ot Snlrs thrrc.