The Greenville enterprise. [volume] (Greenville, S.C.) 1870-1873, 1872-04-24
Laws OF the State, ''s. so
Aets OF the General Assembly sf South
t'is1sH1i 'ze6! Carolina. ~ .sa',mis sSs
PUBLISHED BY.AU7HoRITy.. :

| - sAo WsnsrA Ass0mpiy ot b0utn
tia'"H'i 's'an! 'Carolina. ~ .'si'm's sss
ga PUBLISHED BIZ AUTHORITY. -,
AN ACT TO INCORPORATES THE OAR.
| LINGToN. .CLANDg JOINT STOCK AND
LOAN ASSOCIATION, OF DARLING
TON, SOUTH CAROLINA, ,r.. -,
Section I. Re Il enacted By the Senate and
House Of Representatives, Of the Siats OF South
carolins, nov, mst and sitting in Gsnsrsi As
ssmbly, and, BY the authority OF. the same D..
| That Richard II. lambert, T.. G. Coz, g. J.
Keith, J. A. Smith, William Bralsy, T.. A.
Williamson, p. c., Tludd,, Alfred Hart, Rd-
ward Mickey, A. P. Ford, Richard, Ford, r.
J. Push, Adam Bristsn, wm. Grand. J. d.
WarleJ A, +. Singleton and J. W. Thomas,
together With such other persons as now arc,
/ or hereafter may be-, associated With them, be.
ana they are hereby, declared o body polite
and corporate, for the purpose of buying aud
holding zeal estate in the county Of Darling,
ton, Or at any, point within, the county, or the
State Of South Carolina, and making loan, Of
money, secured BY, mortgages Of roal estate,
and tho hypothecation Of bonds, stocks, and
other chooses in action, and. personal property,
70 its members and stockholders, by tho name
spd style Of the Darlington Land Joint Stock
and Loan Association; OF Darlington, South
Carolina The capital stock OF said associs-
ton to consist Of fve thousand shares, of tho
value of twenty five dollars per share but as
soon IS two thousand shares shall have been
subscribed thereto, the said association shall
Organise and commence operations, said shares
TO Do paid by successive monthly installmeuts
OF one dollar on each share so long as tho
said association shall continue: the said shares
/ to DO held, transferred, assigned and pledged,
and the holders thereof to be subject to such
hncs, penalties and forfeituros, for default In
their payments, rs the regulations aud by Jaws
OF the said association may prescribe. 20 .aai
Sec. 2. That the said association shall have
number and succession Of officers and NOM
bcrs as shah bs ordained and chosen, accord.
ing to tho rules and bylaws made, or to be
made, by thsm for their government and shall
have power and authority, from time TO tims.
and at all times, to mako such rules and BY.
laws rs arc not repugnant to tho Constitution
and tho laws Of tho land; to have and keep n
4
sue and DO, sued, implcad aud DO implcadcd,
in any court OF. law or equity in this State
aud shall have and enjoy every right and nr;v.
ilege incident and bslongin to corporate bod.
les, according to the laws of tho land. ..s.L
SEQ. s. That tho funds of the said as.ocia-
tion shall be invested either in the purchase Of
real estate, in. tho county Of Darlington, South
. |
tBe State Of South Carolina, which shall bo
rented out or leased. or sold nd conv.v.d A.
the members and stockholders of said assoeia-
tion upon such terms and conditions as, from
time to time, may be prescribed by its rules
and bylaws, or be loaned cut and advanced
to tho members and stockholders thereof, up
on the security and by hypotbecation Of real
estate in the county Of Darlington, or any 9th
er sub.division Of the STATE, aforesaid, OF
bonds, stocks or chooses In action on person a
property, on such terms aud conditions rs
from time to time, may be prescribed by the
rules and by-lsws aforesaid. And il sh all and
may be lawful for the said association to hold
ana enJoy, Tor tho mutual benefit of its mem
: bers and stockholders, all such lands, tene.
ments and hercditamehts, rs may be bona fde,
purchased by and conveyed to it; or as may
oe mortgased TO It, by way OF security, upon
{ ''s loans and advances or rs may be purchas
: cd oy or transferred aud conveyed to it, Al
q sales under judgmenefor DEGREES, at law ol
equity, for securing, or recovering, or in com
promise settlement of anv debt or a.hts d,. :,
-. ~, % Iii .,;. :. ,,or,D u ;
: "rN ~ ''"' A'''n, oA'.er' o.eonnangc, cor con
voy, mortgage, or otherwise dispose OF th'
same, from time to time, and Whenever deem
ed expedicpt. "-. ." ." Hf" al 3rgaal.
: 90. ..,y, y 1ra ..,.fs.,,
. i""t IL my Oh 'ne iunds OF the saif
association shall rcmain unproductive, or un,
! invested and unneeded. or upcalIed for. for IN,
snscs NJ 10 ,n,h, -, t..
ne Wv" ~ ~niehoe'S nn'
s'ookholde1s' " shall DO lawful for the sale
= association to lend ont what moneys NAV b,
r on hand to otbers b.n ,tooLholds,,
- ..,.-. =, -, ~, .,', :. sue '
~ " "'"'eres' "rs' toh such security, whether o
q other personal property, as mo b, a greed on
to be safely invested. to be repaid within on,
year. 7.' ..'".... '.f ... ..r.
Sec. s. That Whenever the fund, and a,,et
of the said assets of the said association shall