Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1874-04-22
Notary Public for said County.

his, wife, and acknowledged the foregoing Tor
withim instrument deed, mortgage, or assign
ment) -t ..-..
. Notary Public for said County.
Section 10. All laws and parts of laws conflicting
with the provisions OF this act are for the purposes
of this act only, hereby repealed.
Section IL. This act shall take effect and be IN
force from and after its passage and publication.
Approved March II, 1874.
Published March 7, 1874
CHAPTER 113.
AN ACT to organize corporations for general pur-
poses.
The people of the State Of Wisconsin, represented
in senate and assembly, do enact as follows
Section /. Five or more adult persons living in
any county of this state may organize themselves
into ASSOCIATION or corporation for one or more
or all of the following purposes to carry on the fol-
lowing business The mercantile, manufacturing,
numbering, transportation, shipping, commission,
elevator warehouse business, or the business
of loaning money securities otherwise, deal
ing in all kinds of property by buying, selling or
exchanging the same, the business of buying
building dwelling houses and buildings of all
kinds, and in selling, exchanging leasing or rent
ing the same, the business Of insurance OF any
kind among the members of such corporation,
and to carry any other lawful trade or business,
provide for the mutual support of its members, III
case of sickness poverty, to establish and main
tain hospitals or other institutions for the educa
ton maintenance of orphan children, and for
the and relief of the SICK intirm or the home
less and for any other charitable purpose.
Section 2. Any such corporation or association
organized in conformity with the provisions of this
act shall be body polite and corporate, under
such name which SAID corporation may adopt, and
may have common seal, and alter break and re-
the same at pleasure shall have the power and
right to acquire. hold and possess, by gift devise,
grant, purchase or otherwise, both real and per-
sonal property, and SELL lease, mortgage or other
wise dispose of the same at pleasure Such cor
poration shall have the right to contract and be
contracted with, and to sue and be sued, to plead
and be implicated with, to answer and to be an
swered to in all courts and places, to borrow and
loan money, to give or take notes, bonds mort
cages other evidences of Indebtedness and to
do all things necessary to be done to carry out the
object and purposes of its incorporation under the
provisions of this act.
Section 3. The persons so organizing such cor
poration shall make and adopt articles of associa-
ton in writing, which articles shall contain: L.
The name, location and purpose of such corpora
ton, and its capital stock, which shall not exceed
the sum of one hundred thousand dollars. 2. The
designation of the general officers of such corpora
ton. 3. The main duties conferred upon such
general officers of such corporation. t. The method
Of accepting, discharging or expelling members of
such corporation. 5. They may also incorporate in
such articles of assertion as they may see fit, such
other provisions or articles as they may deem Tor
the interest of such corporation and to carry out
its purposes and objects as Incorporated under this
act, and not inconsistent or in conflict Herewith.
Section 4. The articles of association so made
and adopted shall be signed by the persons SO
forming such corporation, and copy thereof, YER
flied under OATH by two of the persons signing the
same, being true copy of the original articles
ASSOCIATION, snail be recorded III the once OF the
register of deeds of the county in which the same
is located in book to be kept for the record Of
the like or similar instruments, and upon such
verified copy the register shall indorse the time of
the receiving of the and the book, page on
and in which the same is recorded. Such verified
copy recorded certified copy Of such articles
from such records, shall be prima face evidence in
all courts and places Of the organization Of such
corporation.
Section 5. Such corporation may adopt code
of bylaws, alter, amend or expunge the same, or
any. part thereof, subject to any limitation con-
tanned in the articles of association, as by them
adopted, which same shall contain, how altered,
amended or expunged: and by such bylaws pre-
scribe the duties and powers of such general Off
GERS, and other officers, agents and employees
such corporation, to fix their compensation, to
create and establish such other officers agents as
may be deemed for the interest Of such corpora
ton the mode and manner and time Of holding
elections, those elected, and such other general
rules and regulations such corporation may
deem necessary in order to carry out fully the OBJ
Jects and purposes OF such corporation: Provided,
that such corporation shall not have the right to
adopt any bylaws rule or regulation inconsistent
or in conflict with any of the provisions of this
act, Or the articles of association
Section 6. Any corporation organized under any
Of the provisions this act, may at any time, by
vote equal to at least one-half of the number of
shares held by the stockholders, alter or amend
such articles of association adopted and recorded
prescribed in sections three and four of this act:
Provided that the process of making such altera-
ton amendments shall be conducted in
prescribed by the articles Of association. If
such process is prescribed therein; and such
amendments shall be in writing, verified and
corded in the same manner as prescribed in Sec
ton three Of this act and shall not change sub
stantally the original purposes of the corporation.
Section 7. Any corporation organized under the
provisions of this act may dissolve by vote equal
to at least One-half the number OF shares held by
the stockholders Of such corporation: Provided,
that the process of dissolution shall be conducted
in manner prescribed in the articles Of associa-
ton in said corporation, if said process be pre-
scribed therein. A resolution setting forth the
fact of such dissolution, and also statement set
ting forth the number of shares Of stock held by
the stockholders of such corporation, the number
of votes voting for dissolution, and the date on
which such dissolution was adopted, shall be
signed by the proper officers, and shall be verified
and recorded as prescribed for the verifying and
recording of the articles of association by section
three of this act and after such resolution has been
adopted, signed, verified and recorded, said cor
poration shall have ceased to exist, except for the
purposes hereinafter specified.
;Section 8. In of dissolution of any corpora
ton prescribed by section ~ seven OF this act,
the officers at the time being shall continue to act
such, and shall be deemed the legal administra-
tors of such corporation, for the purpose OF selling
or disposng Of any and all property real or per-
sonal, which may be owned by such corporation,
and out of the proceeds of such sale disposal of
such property, the said officers shall first pay all
indebtedness of such corporation, together with the
costs Of such administration, and shall divide the
residue, if any, among the stockholders in pro-
portion to the amount of stock owned by each OF
such stockholders Of such corporation at the time
when the resolution OF dissolution prescribed III
section Of this act adopted, and after fully.
administering such property such officers shall
cease to act as such. |#e
Section 9. Mutual support in case of sickness,
death distress, shall only apply in any corpora
ton organized under this act to bona tde members
of such corporation. IL I t5
Section 10. It shall be the duty of all corpora
tons, organized under the provisions of this act
to keep correct and complete record OF all pro-
ceedings and especially Of the election of officers;
but such record may be kept in any other than the
English language if stated in the articles of as
ISOLATION adopted, verified and recorded, as pro-
Vded in sections 2 and of this act ....- .-..-
Section H. If in any case the election of officers
OF any corporation organized under the provisions
OF this act should not be held the day appointed
by the articles Of association of such corporation or
its sby-aws, for such election, such corporation
shall not be deemed dissolved thereby, but the
former officers shall continue to act such until
their successors shall have been elected and quail
flied, and special elections may be called by the
officers of such corporation by giving public notice
for at least ten days, of the time and place when
and where such election will be held, in at least
one newspaper published in the county where such
corporation is located-if there be any newspaper
published in such county Provided, that articles
of association or bylaws of such corporation may
prescribe different mode of calling such election