The Birmingham age-herald., 1903-10-09

fees paid on the organization of the cor poration.
 Sec 6. When the certificate has been made. recorded and filed as hereinbetore provided, the ineorporators. their success sors and assigns shall constitute a body corporate under the name set forth in the certificate but subject to dissolution as provided in this act.
 | Within ten days after the filing | Of the certificate in the office of the probate judge as here 1 inbefore provided, the corporation shall cause to be filed in the office of the Sec retary of State q statement signed by
 the Probate Judge of the county in winch
 the corporation was organized, giving the
 name of the corporation, the names of It's incorpora;ors, the date of its ineoi
 poratfon. the amount of it's capital stociS and the name of the county in which in- corporated. And for filing such statement there shall be paid to the Secretary of State for the use of the State a fee of nifty cents. The Secretary of State shall Keep In book provided for that purpose an alphabetical list of the corporations. statements of whose incorporation are filed in his office. together with tine data contained in such statement And Tn the event of the failure of the incorporators to cause such statement to be filed m the office of the Secretary of State, the corporation shall forfeit S5000 to the State. to be recovered at the suit of the State.
 Sec. !. Every such corporation shall have the following powers
 fa) To have succession by it's corpor- ate name for the period limited in the certificate of incorporation. and when no period is limited. perpetually Provided. that the duration of no corporation form ed for the purpose of carrying on the business of banking shall extend beyond twenty years from the date of, it's or ganization, unless renewed or extended as in this act provided.
 tb) To sue and be sued in any court of law or equity. and to make and use a corporate seal, and to alter the same at pleasure
 Co To acquire. hold, purchase receive by bequest. CT devise. or in payment of subscription for stock. or in payment for stock issued and sold. and to convey and otherwise dispose of all such real and personal property as may be necessary or convenient for the efficient construc- ton. operation or maintenance of it's work or plant line shops, factories, or other buildings, or for the conduct or management of its business or businesses. or as its purposes may require and all other real and personal property which shall have been bona fide conveyed, transferred. pledged or mortgaged, to the corporation by way of security for, or in satisfaction of debts, or purchased at sale under judgment or decree obtained for such debts; to borrow money, issue notes, bonds or other negotiable paper, or mort gage. pledge or otherwise transfer or convey its real and personal property to secure the payment of money borrowed or any debt contracted; Provided, that no bonded indebtedness shall be created or ad no ita al rtx feyas ya1 except by the consent of the persons holding the larger amount in value of the capital stock of the corporation, pres ent and voting, in person or by proxy, at a meeting of the stockholders called for that purpose, or at regular meeting; and provided, further, the board of drec- tors may mortgage or otherwise pledge, transfer or convey the personal property of the corporation to secure money boi
 rowed by it. and any debt contracted by 1t. without obtaining the consent Of the stockholders.f lst lo,,,
 (d) To appoint and employ such olfi- cers and agents as the business of the corporal tion may require.
 (e) To make and alter al pleasure all needful bylaws, rules and regulations for the transaction of it's business, and the control of it's property and affairs, for the transfer of it's stock. and for the orea- 
 shares of its stockholders for any debt or liability they may incur to the com pany.
 (D To wind up and dissolve itself or be wound up and dissolved in the manner in this act provided
 (g) To have meetings of it's board of directors within or without this State. and, with the consent in writing of all the holders of the capital stock who reside In tota n.xn a1 hafnrn a n officer, authorized to take acknowledge ments, and recorded In the office of the Secretary of State to hold stockholders meetings without this State; but every corporation must keep a principal office In this State and an agent lthereat, and all corporations holding their stockhoid- CTS meetings without this State, shall cause the name and residence within th.s State of such agent to be certified by the president or other managing head or the secretary of the corporation. under the corporate seal, which certificate shall be filed in the office of the Secre- tary of State. and in the office of the Probate Judge of the county in which 1t has such principal office, and a like certificate must be made and so filed as often as there Is a change of such agent. Copies of the proceedings of all and directors meeting held without tnlS Slate must De uepOSileu Wltn such agent. and are admissible in evi- dence against the corporation; written consent of the stockholders residing in this State. for stockholders meetings to be held without this State, once filed in the office of the Secretary of State, shall in force as 10 those signing the same. till the same Is revoked by an in- strument In writing executed by one or more of such stockholders his or their lawful representatives, acknowledged and filed in the office of the Secretary of State. and all such instruments to stockholders meetings without the State revoking such consent. must be recorded by the Secre- tary of State. Service of any process up- on the designated agent of the corpora tion herein required is service upon the but service upon the company may be had in any other manner pro- vided by law.
 (h) To carry on the business or husi- nesses expressed in the certificate of in- so far Us consistent with this net.
 D To carry on its business or busi- nesses in other States and in foreign countries, and to acquire. hold transfer. In such States and foreign coun- tries
 CD To subscribe for. acquire, hold and dispose of the stock. bonds or other evil dence of indebtedness of any other cor poration of his or any other State or for eign countries. and while owner thereof to exercise all the rights. privileges and powers of ownership including the right to vote. subject to the limitations of such rights In this act contained. provided. that no telegraph or telephone company n .ey.Itl t,,1-l