The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1872-06-19

and number of members and officers
as shall be ordained and chosen, ac-
cording to the rules and bylaws made,
or to be made, by them; shall have
and keep a common seal, and alter
the same at will; may sue and be
sued, plead and be impleaded, in any
Court of law or equity in this State ;
and shall have and enjoy every right,
privilege and immunity belonging to
corporate bodies, as guaragteed by
the laws of the land.
Sec. 3. That the said corporation
shall haveapower to take, purchase,
hvid and enjoy real estate and to sell
and transfer the same, rs may be
deemed proper, to its members and
others, ON such terms, and on such
conditions, and subject to such regu.
Ialions, o. may be prescribed by the
rules and bylaws Of said corporation
SEC. 4. That the funds of said cor.
poration shall be loaned and odvanced
to its members and stockholders, OF
others, upon the security of real and
personal property, and used in the
purchase Of real estate for the benefit
of it's members and stockholders, on
such terms, and on such conditions
and subject to such regulations. at
may, from time to time, be prescribed
by the rules and bylaws Of, said cor
poration; and it shall bc lawful toi
the said corporation to hold such
lands, .tcnemen,s, hereditaments and
personal property as shall be mort
gagged Or convey ed to them in good
faith. By way Of security, upon its
loans and advances, and may sell.
alien or otherwise dispose of tho same
to it's members, stockholders or others
US they, from time to time, may dccl1
expedient.
SEC. s. That all the privileges
rights and immunities conferred upon
any and all chartered banking corpor
ations in this State be, and the same
are hereby, conferred upon tho asso
ciasion hereby incorporated, and they
shall be, and are hereby, authorized
and empowered to adopt any and all
such charters to facilitate them in
carrying on the business contemplated
BY the association.
Sec. 6. That this Act shall be deem.
ed public Act, mud continae in for &C
for the term of fourteen years and
the same may be given in evidence
without being specially pleaded.
Approved March IS, 1872.
AN ACT to Establish q Company
under tho Name Of the SuIlivan's
Island Ferry Company, and tc
Modify the Charter OF the Mount
Pleasant Ferry Company, aud toi
other Purposes.
SECTION 1. Be it enacted by the
Senate and House of Representatives
of the State of South Carolina. now
met ard sitting in General Assembly,
and bythc authority of the same,
That Douglass Nesbitt, John B
Conner, D r. Fleming, Henry Jones
William Gregg, Charles J. Andell, W
r. Jeruey, aud such other persons a.
may become members, be, and they
are hereby, declared body polite
and corporate, by the name OF the
SulIiyau's Island Ferry Company, io'
the purpose Of conveying passenger.
and transferring goods, wars and
merchandise between the city o.
Charleston and Sullivan's Island, in
the County Of Charleston, snd batweer
the said city and any other place OF
places; and by that name may sue
and be sued, plead and be impleaded,
in any Court in this Stute; may have
D common seal; may purchase, holl
and convey real estate TO any amount
not exceeding forty thousand dollars
and may have and enjoy all the rights
powers and privileges incident 10 q
corporation.
SEC. 2. That the capital stock ot
said company shall be thirty thousand
dol 'urs, with q privilege of increasing
the same, from time to time, to any
amount not exceeding one hundred
thousand dollars. And every member
Of the said company shall be- indivld
ually liable for all debts CONTRACTED
during the time he or she shall oe
member or shareholder in tho said
company 70 the extent OF tho par
value Of his or her shares in tho same
and shall he answerable in apy action
at law therefor against him or her
Notwithstanding the non,joindcr Of
the other shareholders or any of them
at any time after the return of nullo
bouu may have been made by the
Sheriff of Charleston County. upor
any execution issued against tine said
company. But nothing herein con
tained shall be construed to deprive
any of the shareholders of any equit
able rights against the creditors o.
tho other shareholders Of the sale
company.
SEC. 5. That the first meeting O
the said corporation may be called by
the persons, or o majority of them
named in this Act. at such time and
place as they may think fit, after due
public notice thereof. And at sale
meeting, or any subsequent meeting
said corporation may make, alter
amend or repeal such bylaws aue
regulations for tho organization o
tho same, and the management o
the business thereof, as q najority o
the stockholders may direct: Provi
ded, The same be not inconsistent
with, or repugnantto, the Constitution
and laws of this State, or the Unitee
States.
SEC. 4. That this Act shall be taker
and deemed to be a public Act; shal
be and continue of force for tue tern
Of fourteen years.