The record-union., 1897-04-26

to be held in perpetuity as a place Tor
holding agricultural exhibitions or fairs,
or for other permanent purposes OF such
association, it shall be lawful for Such
association to file its complaint IN the
Superior Court of the county in which
such lands are situated, setting forth
the nature Of the title under which
they are held, and that it is the desire
of the said association to sell and dis
pose of such real estate, and praying
for judgment authorizing it to sell and
convey the same In such action the
trustee or trustees in such deed or
deeds, or the survivor or survivors of
them, the heirs, or administrators,
or executors Of deceased trustees, as
the case may require, shall be made
parties defendant; and upon service Of
the summons upon such defendants,
personally or by publication, or upon
their appearance, the court shall have
full jurisdiction in the premises, and
the deed executed under and in pursu-
ance Of the judgment of the court shall
be valid and effectual to convey to the
purchaser the title of said association,
and that Of all of it's predecessors in
title made parties to the suit.
t1CStlOlA IL LFSIy obNh etoSONASANASAA
organized and existing under the laws
of the State, and which has hereto
| fore issued certificates of the capital
stock of such association, and which
certificates last mentioned have been
accepted by the members of such as
sociation in lieu Of certificates of mem
| bership therein, may elect to have
capital stock, and may issue certificates
and with like effect as corporations
| formed under the provisions of Chap
| ter l. Article l., of the Civil Code, re-
lating to the formation of corporations.
In order to effect such change, a meet
ing of the holders of such alleged GER
| tiicates of capital stock may be called,
at which the holders of such alleged
stock shall be entitled TO one vote for each
share of such stock appearing in their
names, respectively, upon the books of
such association. Upon the receipt of
written application, signed by the
| holders of one-fourth of the shares of
such alleged capital stock of such as
| sociation, requesting him so to do, the
Secretary of such association shall give
notice of the time and place of holding
such meeting, by publication in some
| newspaper printed and published in
such county, or city and county, in
which the principal place of business
of such association is located. at least
once a week for three successive weeks
next prior to the holding thereof. Such
notice shall state that the object of the
meeing is, Cd to determine whether
such corporation elects to have a CAPT
tai stock as provided by this Act; %
the amount of such capital stock, and
| 90 the number of shares into which
! the same shall be divided. At such
meeting, should the holders of ma
jority of the shares of such alleged
capital stock vote in favor of having a
capital stock, and fix the amount there
of, and the number of shares into which
it shall be divided then such corpora
ton shall issue certificates of capital
stock to the amount fixed at such
meeting divided into the number of
shares provided by said meeting, to the
| holders of such alleged capital stock,
| in the same proportion as such alleged
stock appears in the names of such
| holders, respectively, upon the books
| of such association. A copy of the
notice calling such meeting, the affi-
davit of publication thereof, the pro-
ceedings of such meeting, the amount
| of capital stock voted, number of
shares into which the capital stock was
| divided, and to whom assigned, duly
certified by the Chairman of such
meeting, and the Secretary of such as
! socia ton, under the seal thereof, must
be filed with the Secretary of State and
the Clerk of the county where such
association has its principal place of
| business. Thereafter such association
shall be possessed of all rights and
powers, and shall be subject to all the
obligations and restrictions, as if it had
been originally created a corporation
with a capital stock, including the right
to elect a Board of Directors author
| lied to exercise such control Of all the
property Of such association as pro-
vded in Chapters I, . 3 and 4 of the
! Civil Code, relating to corporations;
| provided, such association shall have
no authority to sell any portion of the
real estate owned and held by it, by
whatever title derived which may be
/ necessary for the permanent use of
| such association for the purposes
aforesaid; and provided further, that
! in the event that such association, after
| the issuance of capital stock as afore-
said, shall be offered aid at any time
! from the State by appropriation, for the
purpose of holding an annual district
| fair, and such association, by vote
| of the Board of Directors, elected as
| hereinafter provided adopts a resolu-
| tion accepting such appropriation, then
| and in that event said annual fair shall
! be held under the control and manage
ment of the District Board of Agricult-
ure of such district; but said District
! Board of Agriculture shall have no
other authority, control, or manage
ment of or over the property of such
! association, and the authority which
it may exercise over said property shall
continue only during the time occupied
in holding the said district fair, which
time shall not extend over more than
one week annually.
! When any corporation has elected to
issue capital stock under this Act
the President thereof shall, within ten
days after filing with the Secretary of
State of the certificate hereinbefore pro-
vided. call a meeting of the stockhold-
ers of such corporation, for the purpose
of electing a Board of Directors of
such corporation, which Board of Di-
rectors shall hold their office until their
successors are elected and qualified
and thereafter a Board of Directors of
| such corporation shall be elected an
nually on the day of the month upon
which the election of said first Board
of Directors elected as aforesaid is held,
unless a different date for holding of
! Nv ha vi oF