The Montgomery advertiser., 1903-10-09

to Dc reported to the auditor ana paio into the stste treasury as above pro- vided, the fees above prescribed upon the amount of the capital stock As % in- creased. less the amount of the charter fees paid on the organization of the cor
 Sec. 6. When ti,s certificate has been made, recorded and filed as hereinhefore provided. the incorpofatofs, their succes- sors and assigns shall constitute A body corporate under the name set forth fh the certificate. but subject to disnolurion as Within ten days after the filing of the probate judge as here inbefore provided. the corporation shall cause to be filed in the oflice of the Sec retary of State a statement signed by , the Probate Judge of the county in which the corporation was organized. giving the name of the corporation. the narnes of it's incorporators. the date of fts ipccr- poration, the amount of its capital stock and the name of the county in which in- there shall be paid to the Secretary of State for the uss of the stats, . fee of fifty cents The Secretary of State shall keep ih book provided for that purpose an alphabetical list of the corporations, statements os whose incorporation are filed In his ofYice. together with the dats contained in such statement And in the event of the failure Of the incorporatorz to cause such statement to De n1ed in the once of the Secretary of State, the corporation shah forfeit $500 to che State, to be recovered at the suit of the State.
 Sec. 2. Every such corporation shall have the following powers:
 (a) 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 Its or as in this act provided,
 Cb) To sue and be sued in any court of law or equity. and to make and use corporate seal. and to alter the same at pleasure. x (c) 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 eficient construc- ton, operation or maintenance of its work or plant, line. shops. factories. or other buildings. or tor the conduct or management of it's business or businesses, or as it's purposes may require. and all other real and personal property which shall have been bona fide conveyed. transferred. pledged or mortsaged. tosthe 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 ot 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 increased, nor its real property mortgaged 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 a regular meeting; and provided. further. the board of diree- tors may mortgage or otherwise pledge. transfer or convey the personal property of the corporation to secure money boz rowed by 1t, and any debt contracted by it. without obtaining the consent of the stockholders.
 (d) To appoint and employ such ofi- cers and agents as the business of the corporation may require.
 (e) To make and alter at pleasure all needful bylaws, rules and regulations for the transaction of its business, and the control of it's property and affairs, for the transfer of its stock, and for the crea- ton and preservation of . lien upon the shares of it's stockholders for any debt or liability they may incur to the com pany.
 CO To wind up and dissolve itself or be wound up and dissolved in the manner in this act provided.
 (g) To have meetings of its 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 this State, acknowledged before an officer, authorized 70 take acknowledg- 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 thereat. and all corporations holding their stockhold- 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 E corporate seal, which certificate shali be filed in the office of the sccre- tary of State, and in the oflce of the Probate Judge of the county HI WHICH U uoo otSu pSsuCApai uNiCS, Attu a like certificate must be made and so filed as often as there Is e change of such agent. Copies of the proceedings of all stockholders and directors meeting held without this State must be deposited with such agent, and are admissible in evil 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 continue in force as to those signing the same. till the same Is revoked by an fn- strument !n writing executed by one or lawful representatives, acknowledged and filed in the once of the Secretary of State. and all such instruments consenting to stockholders meetings without the State or 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 company. but service upon the company may be had in any other manner pro- vided by law.
 (h) To carry on the business or busi- nesses. expressed in the certificate of In- corporation. so far as consistent with this act
 CD To carry on its business or busi. nesses in other States and in foreign countries. and to acquire, hold, transfer. mortgage and convey real and personal property in such States and foreign coun- tries.
 @ To subscribe for. acquire, hold and dispose of the stock bonds or other evil dence of indebtedness of any other cor poration of this or any other state or for elgn countries. and while owner thereof 1A mwaNafaa oil fhA PfGtafm vnpixpffAAon ~.A