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

ty; and may have common seal,
with power to alter the same ut will.
Sec. 2. That said corporation shall
have power to purchase and hold any
real or personal estate, not excccdingin
value tho sun of ten thousand dollars
and to sell, convey and dispose Of the
same; and by its corporate name, to
sue and be sued in any Court Of this
5 ate; and to make such rules and
bylaws not repusnant to the laws OF
the land, as they may deem necessary
and expedient.
SEC. 3. This Act shall be deemed
and taken as a public Act, and shall
continue in force unit! repealed.
Approved March l3, 1872.
AN ACT to Establish the Charleston
Land and JOINT Stock Company.
Sec. l. Be it enacted by the Senate
and House of Representatives Of the
State of South Carolina, now met
and sitting in General Assembly, and
by the authority OF the same,
That Charles Simonds, Thomas
Mathews. L. F. Campbell, Samuel
Powher. james Porchcr, q. Patton.
W. Fields, J. Proctor, J. Simmons, S.
Porcher, A Campbell, G. Hines, aud
other persons who are, or hereafter
may be, associated with them. be,
and they arc hereby, declared o body
polite and corporate. for the purpose
Of making loans Of money, secured
by mortgage on real estate or person
al property or by conveyance of the
same. 10 their members aud stockhol-
ders, by the name and style Of the
Charleston Land and Joint Stock
Company, the capital Stock of which
shall consist of one thousand shares,
10 he paid in: by successive monthly
instalments of one dollar on each
share, so long as the corporation sh' Il
continue; the said shares to be held,
transferred, assigned and pledged,
and the holders thereof to be subje"
to such fines and forfeitures, for de-
fault in their payments, according to
such regulations rs may be prescribed
by the constitution and bylaws Of
laid corporation; and, moreover, the
said shares shall be disposed of, ut the
death resignation or removal iron,
. he State of any shareholder, in such
manner as may be prescribed by the
said constitution. rules and by-laws.
. Sec. 2. That tho said corporation
shall have power and authority to
make any such rules and hy laws for
its government as are not rcpugnant
TO the Constitution and laws Of the
land shall have such numbers and
succession of members and offices as
he ordained and chosen according to
their So rules and bylaws made, or
to be made, by them and shall sue
and be sued, plead and be impleaded
in any Court Of law or equity in this
State; and SHALL have aud enjoy all
and every right and privilege incident
and belonging to corporate bodies
according to the laws of the land.
Sec. 8. That the funds of said cor,
poration may be invested in such pro
perty, real or personal, and securities
public or private, loaned to share
holders and members, or other per-
sons or corporations. on such securi
ties, in such mode, ON such terms. un'
der such conditions, and subject to
such regulations, as may be, from
time to time, prescribed by the CON
stitutiou, rules and bylaws of said
corporation to take and hold such
lands, tencments, hereditaments and
personal property and such stocks
and bonds, public or private, or cho.
ses in action, as shall be mortgaged
conveyed, assigned or pledged TO it
by way of security upon its loans OF
advanced, or purchased at sales there
of; and to sell, alien, transfer Or 9th
erwise dispose of the same, rs. from
time to time, the said corporation
may deem expedient: Provided, That
the real estate held by said corpora,
ton shall not, at any time, exceed
the value of two hundred thousand
dollars. That the real and personal
property Of each stockholdcr and as.
signs shall be Liable for the debts oi
said corporation in any amount no,
exceeding the par value Of the stock
held by him.
Sec. A. That, semiannually, on tie
first days Of January and July, there
shall be divided amongst the stock.
holders of the said corporation, the
profits accruing from the Investment
See. 5. That this Act shall be taken
and deemed public Act. and that
the same aaay be given in evidence
without being specially pleaded.
Approved March l3, 1872.
AN ACT to Reduce all Acts and Parts
of Acts to Determine and Perpetu'
ate the Homestead ists ono Act,
and Co Amend the Same.
Section !. Be it enacted by the
Senate and House of Representatives
of the State of South Carolina Dow
met and sitting in General Assembly,
and by tho authority of the same:
That asheaever the real estate OF
any head Of a family, resident in this
State, shall be lericd upon by virtue
Of any mesnc or ind process, Issued
from any Court upon any Judgment
obtained upon any right of action,
whether arising -previous or subse-
quent to the ratification of the Con
stitution of tho State Of South Caro-
lima, if the same be the family home
stead Of such person, the Sheriff or
other officer executing said process.