Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1885-06-03

AN ACT TO amend subdivision Of section H777
of the revised statutes In relation to incorpora-
lions as amended by chapter 241 of general
laws of 1888.
The people of the state of Wisconsin, represented
in senate and assembly, do enact as follows:
Section l. Amend subdivision 7, Of section
l772 of the revised statutes as amended by chap
ter M1 of the general laws of 1888, by adding
thereto the following: provided no fee or pay
ment of any sum for filing articles OF association
or of any amendments thereto shall be required
from any corporation organized exclusively for
benevolent charitable or refOrmatory purposes,
whose articles or incorporation shall provide that
no dividends or pecuniary profit shall ever be
made or declared by such corporation to its mem
Ders, so that subdivision of section 1772 of the
revised statutes when SO amended shall read as
follows: subdivision 2. Such other provisions
or articles, If any, not inconsistent with law,
they may deem proper to be therein inserted for
the interest Of such corporation, or the accom-
pl1shment OF the purposes thereof including, If
the corporation Is formed without capital stock,
the articles shall fix the time and place for the
first meeting for the election of officers, and the
signers OF such articles shall give notice thereof
TO the members in the manner provided in the
next section Such original articles, or q true
copy thereof, verified as such by the afidavits of
two OF the s1gners thereof shall be recorded by
the register of deeds of the county In which such
corporation 1s located; and no corporation shall,
until such articles be so left for record have legal
existence A like verified copy shall, within
thirty days, be filed with the secretary of state,
and for failure 80 to do each signer of any such
articles shall forfeit twenty five dollars. For fiji
secretary of state and issuing certificate of cor
pOration, the corporatOrs shall pay the sum of
ten dollars, and for filing with the secretary of
state an amendment to articles already filed, they
shall pay the of five dollars, and no articles
or any such amendments shall be flied unless
such fees be first paid, and such sums shall be
paid into the state treasury by the secretary of
state, provided, no fees or payment of any sum
for filing articles of association, or of any amend
ment thereto, shall be required from any cor
poration organized exclusively for benevolent,
charitable or refOrmatory purposes, whose ar
ticles of incorporation shall provide that no
dividends or pecuniary profits shall ever be
made or declared by such corporation to its mem
Ders.
section 2. This act shall take effect and be in
force from and after its passage and publication.
Approved April 8, 1886.
CHAPTER 292
AN ACT concerning certain suits to vacate fraud.
ulent preferences and conveyances.
The people Of the state of Wisconsin, represented
in senate and assembly, do enact as follows:
Section l. Whenever an insolvent debtor has
made any conveyance or transfer of his property,
with intent to hinder, delay or defraud his cred
ttors, or any conveyance transfer or charge upon
bis property which is void, by reason of being
preferential or otherwise, and shall thereafter
make general assignment tor the benefit of his
creditors If the assignee named in such assign
ment shall neglect for sixty days after the delivery
thereof to institute proper suit to vacate such
fraudulent or preferential conveyance, transfer
charge, 1t shall be lawful for any creditor of the
assignor, having first proved his claim required
by law, to institute and prosecute to judgment
|
his benefit, upon giving to the assignee bond in
the sum of one thousand dollars, with sufficient
surety resident in this state to hold said assignee
harmless from said loss, costs or expense to arise
or accrue to him in case said suit shall be decided
! adversely to him. In case of recovery in such
action the creditor so prosecuting the same shall
be allowed out of the estate all reasonable costs
and charges which he has paid or become liable
for in respect to the prosecuting Of said SUITS the
| same being for the common benefit of the cred
| itors; such costs and expenses to be determined
| by the court.
| Section q This act shall take effect from and
| after its passage.
| Approved April 4, 1885.
| CHAPTER 49,
| AN ACT to facilitate the sale Of certain state
lands therein named.
The people of the state of Wisconsin, represented
in senate and assembly, do enact as follows:
| Section /. The commissioners Of the public
| lands are hereby authorized and empowered to
! SELL for sum not Less than forty dollars each,
| lots three and four, and for a SUM not less than
twenty-five dollars each, lots eleven and twelve,
| situated in block thirty seven, McFarlane Dunn
and Armstrong; addition, to the city Of Portage,
| on such terms as other state lands are sold.
Section2. This act shall take effect and be in
force from and after its passage and publication
| ADDrOVed ADril IL 1885.