Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1875-04-29
Published March g, 1875. ]
CHAPTER a2g.


AN ACT concerning corporations.
The people of the State of Wisconsin, repre-
scented In Senate and Assembly, do enact as
SECTION l. Whenever an action shall be
brought In the Supreme or Circuit Court by the
Attorney-General, in the name OF the State, for
the purpose OF yacating the charter or annullng
the existence OF a corporation. the summons shall
be served personally upon some officer OF the
corporation named as defendant therein, If to be
found within the State. Such service may
within this State. If any Sheriff to
whom any such Summons shall be delivered
for service shall make return thereon that no
officer Of such corporation can, after due dill
gence, be found within this State, and shall verify
such return by his affidavit, the Attorney General
sha- cause copy of such summons to be pub
lished in the official State paper or some daily
newspaper printed and published II the city Of
Madison once in each week for four az successive
weeks, and upon filing such proof of such publica
ton AZ is required by subdivision three 3) of Sec
thirteen (l3) Of Chap. one hundred and twenty
four 02D of the Revised Statutes with the Clerk
OF the court IN which the action IL brought the
| service Of the summons shall be deemed com
plete and the court shall proceed as though per
sonal service had been duly made upon such cor
pore ion.
SEC. ?. If shall be adjudged that a corpora
ton against which an action shall have been
brought has by neglect, abuse or surrender for
feited its corporate rights privileges franchises
judgment shall be rendered that the corporation
be excluded from such corporate rights, prvi-
leges and franchises and that the corporation be
dissolved, and thereupon the affairs of such cor
poration shall be wound up by and under the
direction OF a receiver, to be appointed by the
Circuit Court, and its property sold and converted
into money and the proceeds, after paying the
costs and expenses of the receivership
and proceedings, shall be paid and dis
tributed in the following order to wit: LIST.
For the payment of taxes and debts due to the
United States, the State of Wisconsin and any
county, CITY, town village therein; I'd Legal
and equitable liens upon the property OF said cor
poration in their order of priority: 3D.. The just
debts OF such corporation liable, which liens and
debts shall be ascertained by said court upon such
notice aud IN such manner az Vt shall prescribe |;
dh, The rest and residue of such moneys shall be
distributed among the stockholders oil such cor
porgiion.
SEC. g. If such action shall be pending in the
Circuit Court then such receive shall be appointed
in and by the judgment of dissolution. or by sub
scqnent order founded thereon. If 1t shall be
pending in the Supreme Court then II shall he
the duty OF the Attorney-General forthwith to
commence an action in the proper circuit for the
appointment of such receiver and the winding up
OF The affairs of such corporation, and after such
judgment of dissolution the corporation shall ex-
ist until receiver shall be 80 appointed and I'M
I'll he shall be qualified and duly invested with
the property OF said corporation, but such corpo-
ration shall not, after such judgment of dissolu-
ton, be able to do any other act than to make
over It's assets TO such receiver shall be APP
pointed pursuant To the provisions of this act
SEC. 4. The provisions of this act shall, so far
as they relate TO the distribution of property of
the corporation and actions to appoint receivers
therefor, apply to any corporation against which
proceedings are now pending and to any corpora
ton whose charter has been may hereafter be
repealed by the act of the Legislature or other
wise annulled thereby.
SEC. 5. All acts or parts of acts so far as they
contravcne the provisions of this act are hereby
repealed
SEC, 8. This act shall take effect and be in force
from aud after its passage and publication.
Approved March 5, 1873 sxCOPY.