Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1882-01-07
ACTS OF THE LEGISLATURES.
Published By AaGthorityl

AN ACT to be entitled an act to amend an
act entitled an act to provide for the Or
ganiZatiOn of corporations, passed March
18th, 1876, and approved March 23rd,
1875.
SECTION l. Be it enacted by the General
Assembly of the State of Tennessee, That
chapter 142 of the acts of the seth General
Assembly, passed March 18th, 1875, ap-
proved March 23rd, 1875, be so amended as
to read that the following shall be the form
of charter for manufacturing brick tile, gas
retorts or any other articles of use to be
manufactured from clay or earth; also for
the purpose of manufacturing stock glue,
bone dust powder, and in general, the car
rying on any business that comes within
the definition of manufacturing enter
prise.
State of Tennessee, Charter of Incorpora-
ton:
Be it known, that by virture of the gen
eral laws Of the land (here copy the names
of five or more incorporators not under
twenty-one years of age, are hereby consti-
tuted body polite and corporate by the
name and style (here set forth
the name of the corporation and
the nature of the business).
The general powers, ETC., of the corporation
are (here set forth the general powers, etc,
as contained in section 5, chapter l42 OF
the acts of the 39th General Assembly,
passed March 18th, 1875, approved March
23d, 1850.
Sec 2. Be it further enacted that any
corporation chartered under this act or the
act of 1875, of which this is amendatory,
shall have the right to purchase use or dis
pose of such patent rights IS may be neces-
sary or useful in its business, in as full and
ample manner as is now allowed by la "
to individuals. The said corporation shall
have the power to take ard hold all such
real estate as may be mortgaged to 1t or
conveyed III trust to secure any debt due 70
the corporation, arising from sale and
purchase of it's territorial rights, under its
letters patent, and the said corporation shall
have the power to purchase any such real
estate at any sale thereof, and the same to
hold, sell or otherwise dispose of as the said
corporation may deem expedient. Annually,
during the month of January, the president
shall make and the secretary shall spread
upon the minutes q statement, attested by
two or more of the directors, showing
the amount of the capital stock and the ex-
listing liabilities, and list of the stockhold-
ers. No loan of money shall be made at any
time to any stakeholder thereof, nor to any
one else, but dividend must be declared
whenever there is an amount sufficient in
the hands of the treasurer to pay four per
cent. on the capital stock, and any such loan
or failure to declare and pay the dividend
shall render the directors asserting thereto
individually liable for the amount thereof,
this liability to extend in favor of innocent
stockholders as well as creditors If the in
debtedness of said company shall at any
time exceed the capital stock paid in, the
directors asserting thereto shall be individ-
ually liable to the creditors for said excess
Sec. 3. Be it further enacted, That any
manufacturing company hereafter or here
tofOre Incorporated may receive the assign
ment of any patent in payment of any stock
subscribed, to the amount of the value of said
patent as agreed ON by the subscriber and
the corporation.
Sec. i. Be it further enacted, That this
act shall take effect from Fand after its pas
sage, the public welfare requiring it.
Passed, Dec 21st, 1881.
GEO. Fl. MORGAN,
Speaker of the Senate
FL. B. RAMSEY,
Speaker of the House of Representatives.
Approved Dec. Oath, 1881.
ALVIN HAWKINS, Governor.
STATE OF TENNESSEE,
OFFICE OF THE SECRETARY OF STATE,
Nashville, Dec. Oath, 1881.
I, D. A. Num-, Secretary of State of the
State of Tennessee, do hereby certify that
the above is true and perfect copy of an
act OF the General Assembly of the State of
Tennessee, passed at its extra session OF
1881.
D. A. Mum,