Year: 1859

mo. 2l5.l AN ACT


Supplementary to "an act to provide for the


creation and regulation of Incorporated


companies in tho state Of Ohio" passed


May l, 1852.


Sec. /. Be 1t enacted by the General
assembly Of the State Of Ohio, That when
ever any number of persons, as required by
the first section of the act to which this is
supplementary, associating to form COM
pany for the purpose of improving any
stream Of water, or and part thereof here
tofore declared navigable by any of the
laws of the state of Ohio, they shall, under
their hands and seals, make a certificate
which they shall specify as follows: First
The name assumed by such company, and
by which it shall be known. Second
Commencement and termini of said i'm
provement, and the counties through which
the same shall pass. Third. The amount
of capital stock necessary to make said i'm
provement, not less than ten thousand dol
lars, and the amount of each share. Such
certificate shall be acknowledged, certified
and forwarded to the secretary of state, re-
corded and copied in the same manner as
is provided in the second section of the
act to which this is supplementary. and
said certificate shall also be recorded in the
recorders Office of the county in which such
company shall have its principal office fol
doing business, and when so incorporated
are hereby authorized to make said improve
ment by the cleaning out of said stream OIL
streams, erection Of dams, locks, and all
other things necessary for said improve,
ment, as may be named in their certificate
of incorporation, and by the name and
style provided in said certificate, shall bt
deemed body corporate, with succession
and they and their associates to have the
said general powers as is provided in the
third section of the act to which this is sup
Elementary.


Sec. 2. That the corporators named II
said certificate shall open the books Of the
said company for subscription to the capita
stock Of said company, and so soon thereaf
ter as fifty per cent. Of the capital shall be
subscribed and paid in money, they shall
call meeting Of tho persons who have
subscribed stock as aforesaid, and shall ther
and there proceed to elect five directors
who shall be stockholders in the said compa
ny,who shall hold their Office as such directors
for one year from and after said election
and until their successors arc elected anC
qualified, one Of whom shall be president
and one treasurer and one secretary, to b
named on tho tickets when voted for by th'
stockholders as aforesaid. Each stockhold
or shall be entitled to one vote for each anC
every share of stock that he may own, and
after the first election no stockholder shall
be entitled 10 q greater number Of votes
than tho number of shares he may have
paid into the said company.


Sec. 8. That the treasurer ofsaid compa
ny, before entering upon the duties of his Of
fee, shall enter into q bond with good anC
sufficient security, to bo approved of By
said board of directors, payable to the sale
company, conditioned for the faithful per
formance Of all and singular the duties o
his said Office, aud that be will we'll anC
truly account for and pay over to the sale
company all moneys aud property that shat
from time TO time como into his hands b.
virtue Of his said Office, aud that he vii
use due and proper diligence to collect al