The Montgomery advertiser., 1907-08-29

Sec. 20. That the adoption made as provided for in this Act shall continue for i've years from the exbAxation of the existing contract, unless changed
 earlier as provided for in section one of this Act
 Sec. 21. That in case of the failure
 of any contractor to furnish the books as provided in this contract. then his
 bond shall be declared forfeited, and the State School Book Commission IS authorized and empowered to make such other contract for the unexpired term with any person to provide such
 books as they may deem advisable for l the best interests of the State.
 Sec. 22. That all laws and parts Of l laws in conflict with this Act, be and | the same are hereby repealed. Approved August ls. 1907.
 ofiieial,
 Frank N. Julian.
 Secretary of State.
 No. 75s.) AN ACT, tH. 57e.
 To provide for the Incorporation of Mutual Aid, Benefit and Industrial Companies or Associations. Section l. Be 1t enacted by the Leg | islature of the State of Alabama: That Mutual Aid, Benefit and Industrial l Companies or Associations, with or without capital stock. may be incor- porated as hereinafter prescribed. Sec. 2. Five or more persons may become a body corporate. with a cap- itaI stock for the purpose of carrying on the business of a Mutual Life. Ben l fit and Industrial company or Associa-
 ton, by compliyng with the provisions
 of this Act
 Sec. B. Such persons shall make and file in the office of the Judge of Pro- bate in the county in which the prin- cipal place of business of the proposed corporation shall be established, cer- tificate which shall be signed by all the subscribers, and which shall set forth: (a) The name of the proposed cor poration. (b) That the object and pur- pose of the corporation will be to do business as a Mutual Aid, Benefit and Industrial Company or Association. with the powers and privileges prescribed by the State of Alabama. Go The loca- tion of the principal office of the cor poration in this State. (d) The total amount of the authorized capital stock, the number of shares into which 1t Is
 to he divided. and the par 'va1ue of
 each share, the names and post office addresses of two persons designated by the incorporators to receive sub- scriptions to the capital stock of the corporation. (e) The names and post office addresses of the incorporators;
 the number of shares of stock subscriD- ed for by each; the names and addresses of the directors and officers elected for
 the first year. (f) The certificate may also contain any other provisions which the incorporators may desire to insert for the regulation of the business and affairs of the corporation, creating and defining the powers of the corporations the directors and stockholders, or any class or classes of stockholders pro- vided that the same shall not be in- consistent with the provisions of this Act, or with the laws regulating the business of Mutual Aid, Benefit and Industrial Companies or Associations
 Sec. 4. No such corporation shall be organized with capital stock of less than Five Thousand Dollars. ($5,000.00) nor shall any such corporation be or ganized, or commence business. unless 1t has received not less than the sum of Five Thousand Dollars (S5,000.00), in ayment in cash for subscriptions to it's capital stock. Provided that nothing contained in this Act shall be construed to require any corporation heretofore organized as Mutual Aid, Benefit or Industrial Company or As sociations and doing business in this State, to increase its capital stock.
 Sec. 5. The certificate herein pro- vided for shall have attached to 1t statement, under oath, made by the two persons authorized by the incorporators to receive subscriptions to the capi- tai stock, showing the amount of cap ital stock which has been subscribed, the amount which has been paid in cash, and the amount of stock secured by contracts for stipulated labor or services or of stock secured by con- tracts for stipulated labor or services, or by the transfer of property to the corporation.
 Sec G. The certificate of incorpora- tion shall be filed and recorded In the office of the Judge of Probate in the county in which the principal place of business of the corporation is establish ed, in a book kept by him for recording the certificates of incorporation. But the Judge of Probate shall not record 1t unless 1t complies with the provisions of this Act. After 1t has been so re- corded. the Probate Judge shall en- dorse thereon his certificate of regis tration, showing the book and page where recorded. and the date when re- corded. And the Probate Judge shall receive for his services fifteen cents, (15c) for each one hundred Q00) words of the certificate of incorporation, and two dollars and fifty cents ($2.50) for examining the certificate.
 Sec. 7 At the time of filing said certificate, and at the time of filing a certificate increasing the capital stock of such corporations, the incorporatorsl shall pay to the Probate Judge for the use of this State, the same fees as are now required to be paid by Section 5. of An Act entitled An Act to confer and limit the power of business corporat- ions, and to provide for their organiz- ation and regulation, approved octob- CT End, 1903.
 Sec. 8. Every such corporation shall have the following powers: (a) To have succession by its corporate name for the period limited in the certificate of incorporation and when no period is limited perpetAlly. (b) To sue and be sued in any court of Law or Eq- uity, and to make, renew the corporate seal and to tier the same at pleasure. (c) To require, hold pur- chase, receive and sell all such real and personal property as may be con venient or necessary in the conduct of Its business (d) To appoint and em- ploy such officers and agents of the cor poration as it's business may require. (e) To make all needful rules and regu- lations for the transacting of it's buSi- ness and for the control of fits prop erty. CD To carry on the business of Mutual Aid. Benefit and Industrial Com panies or Associations. (g) To increase or decrease It's capital stock in the manner hereinafter provided. (h) To alter and amend it's charter. CD To con- solidate with one or more like corpora cons engaged in business of Mutual Aid, Benefit and Industrial Companies or Associations, whether incorporated