« PreviousContinue »
5. CHANGES OF ORGANIZATION TO BE PUBLISHED.] $ 5. Such corporations shall, upon the filing of said certificate, cause to be published in some newspaper in, or nearest the county in which their principal office is located, a notice of such changes of organization, for three successive weeks. [R. S. 1874, ch. 32, $ 54, p. 295.
6. [CORPORATIONS, NOT BEING STOCK COMPANIES, MAY AVAIL THEMSELVES OF THIS Act.] $ 6. Corporations, not being stock companies, may avail themselves of all the privileges and provisions of this act, by a majority vote of the members of such corporations who may be present at a meeting called for any of the purposes included in this act. [R. S. 1874, ch. 32, § 55, p. 295.
7. [CHANGES SHALL NOT AFFECT SUITs.] 7. Such change of name, place of business, increase or decrease of capital stock, increase or decrease of number of directors, managers or trustees, or consolidation of one corporation with another, shall not affect suits pending, in which such corporation or corporations shall be parties; nor shall such changes affect causes of action, nor the rights of persons in any particular; nor shall suits brought against such corporation by its former name be abated for that cause. [R. S. 1874, ch. 32, $ 56, p. 295.
8. [DESIRE TO CONSOLIDATE TO BE PUBLISHED.) § 8. Whenever any railroad corporation shall desire to consolidate with any other railroad corporation, by virtue of the provisions of this act, a notice, as provided by section two of this act, shall be given at least sixty days before the time fixed for such meeting, and a general notice, as provided by said section two, shall be published for nine successive weeks: Provided, that railroad corporations shall not consolidate their stock, property or franchises with any other railroad corporation owning a parallel or competing line. [R. S. 1874, ch. 32, § 57, p. 295.
An Act in relation to the consolidation of incorporated companies. In force May 9, 1867.
9. [CONSOLIDATED COMPANY LIABLE FOR DEBTS, ETC.] § 1. In all cases when any company or corporation, chartered or organized under the laws of this state, shall consolidate its property, stock or franchises with any other company or companies, such consolidated company shall be liable for all debts or liabilities of each company included in said consolidated company, existing or accrued prior to such consolidation; and actions may be brought and maintained and recovery had therefor, against such consolidated company. [R. S. 1874, ch. 32, $ 59, p. 295.
An Act in regard to evidence and depositions in civil cases. In force July 1, 1872.
10. [PAPERS, ENTRIES AND RECORDS—How PROVED.] § 15. The papers, entries and records of any corporation or incorporated association may be proved by a copy thereof, certified under the hand of the secretary, clerk, cashier or other keeper of the same. If the corporation or incorporated association has a seal, the same shall be affixed to such certificate. [R. S. 1874, ch. 51, § 15, p. 490.
11. [FORM OF CERTIFICATE.] $ 16. The certificate of any such clerk of a court, city, village, town, county, or secretary, clerk, cashier,
or other keeper of any such papers, entries, records or ordinances, shall contain a statement that such person is the keeper of the same, and if there is no seal, shall so state. [R. S. 1874, ch. 51, $ 16,
An Act to revise the law in relation to the rate of interest. In force July 1, 1874.
12. [NOT TO PLEAD USURY.] Ş 11. No corporation shall hereafter interpose the defense of usury in action. [R. S. 1874, ch. 74, $ 11,
An Act In regard to judgments and decrees, and the manner of enforcing the same by execution, and to provide for the redemption of real estate sold under execution or de
In force July 1, 1872. 13. [STOCK SHARES SUBJECT TO EXECUTION.] $ 52. The share or interest of a stock holder in any corporation may be taken on execution and sold as hereinafter provided. [R. S. 1874, ch. 77, $52 p. 628.
14. [COPY OF EXECUTION TO BE LEFT.] $ 53. If the property has not been attached in the same suit, the officer shall leave an attested copy of the execution with the clerk, treasurer or cashier of the com
if there is any such officer, otherwise with any officer or person having the custody (of] the books and papers of the corporation ; and the property shall be considered as seized on execution when the copy is so left, and shall be sold in like manner as goods and chattels. [R. S. 1874 ch. 77, $53 p. 628.
15. [SEIZURE AND SALE OF STOCK SHARES.] $ 54. If the share is already attached in the same suit, the officer shall proceed in seizing and selling it on the execution, in the same manner as in selling goods and chattels. [R. S. 1874, ch. 77, $54, p. 628.
16. [NUMBER OF SHARES CERTIFIED.] § 55. The officer of the company who keeps a record or account of the shares or interest of the stockholders therein, shall, upon the exhibiting to him of the execution, be bound to give a certificate of the number of shares or amount of the interest held by the judgment debtor. If he refuses to do so, or if he wilfully gives a false certificate thereof, he shall be liable for double the amount of all damages occasioned by such refusal or false certificate, to be recovered in any proper action, unless the judgment is satisfied by the original defendant. [R. S. 1874, ch. 77, § 55 p. 628.
17. [PURCHASER ENTITLED TO CERTIFICATE-WHEN.] $ 56. An attested copy of the execution and of the return thereof shall, within fifteen days after the sale, be left with the officer of the company whose duty it is to record transfers of shares; and the purchaser shall thereupon be entitled to a certificate or certificates of the shares bought by him upon paying the fees therefor and for recording the transter. [R. S. 1874, ch. 77, $ 56, p. 628.
18. [PURCHASER, WHEN ENTITLED TO DIVIDENDS.] $ 57. If the shares or interest of the judgment debtor had been attached in the suit in which the execution issued, the purchaser shall be entitled to all the dividends which have accrued after the attachment. [R. S. 1874, ch. 77, § 57, p. 628.
AN ACT to amend section eight (8) of an act entitled “An act to revise the law in relation to the rate of interest,” approved March 25, A. D. 1874.
19. [RATE OF INTEREST BETWEEN CITIZENS AND CORPORATIONS. § 1. That section eight (8) of "An act to revise the law in relation to the rate of interest," approved March 25, A. D. 1874, be amended to read as follows:
"§ 8. When any written contract, whenever payable, shall have been or shall be made in this State, or between citizens or corporations of this State, or a citizen or corporation of this State and a citizen or corporation of any other state, territory or country, (or shall be secured by mortgage or trust deed on lands in this State) such contract may bear any rate of interest allowed by law, to be taken or contracted for by persons or corporations in this State, or which is or may be allowed by law on any contract for money due or owing in this State: Provided, however, that such rate of interest shall not exceed ten per cent. per annum. And if any such person or corporation shall contract or has contracted to receive a greater rate of interest or discount than ten per cent. upon any such contract, such person or corporation shall forfeit the whole of said interest so contracted to be received, and shall be entitled only to recover the principal sum due to such person or corporation.” [Laws 1875, p. 85.
AN ACT authorizing the changing of directors of incorporated companies in certain
In force May 22, 1877. 20. MEETING OF STOCKHOLDERS FOR CHANGING.] $ 1. Whenever the stockholders holding a majority of the stock of any corporation existing by virtue of any general or special law of this State, or any corporation hereafter organized by virtue of any law of this State, may desire to change the number of its directors, managers or trustees from an even number to an odd number, they may call a special meeting of the stockholders of such corporation for the purpose of submitting to a vote of the stockholders of such corporation the question of such change of directors, managers or trustees from an even to an odd number, Provided, That the number of directors, managers or trustees shall in no such case after such change be less than five nor more than eleven. [Laws 1877, § 1, p. 67.
21. [SPECIAL MEETINGS, How CALLED.) S 2. Such special meeting shall be called by the President upon the written application of the stockholders of such corporation owning a majority of the stock, by delivering personally, or depositing in the Post Office at least thirty days before the time fixed for such meeting, a notice properly addressed to each stockholder, signed by the President, stating the time, place and object of such meeting. A general notice of the time, place and object of such meeting shall also be published for three successive weeks in some newspaper printed in or nearest to the county in which the principal business office of said corporation is located. [Laws 1877, § 2, p. 67.
22. [MANNER OF VOTING.] 8 3. At any such meeting stockholders may vote in person or by proxy, each stockholder being entitled to one vote for each share of stock held by him, and votes representing a majority of all the stock of the corporation shall be necessary for the purpose of changing the number of the directors, managers, or trustees from an even to an odd number. [Laws 1877, § 3, p. 67.
23. [CERTIFICATES OF VOTE FILED.] § 4. If at any regular annual meeting, or at the time and place specified in such notice of a special meeting called for that purpose, said proposition to change the number of directors, managers or trustees from an even to an odd number, be submitted to vote, and if it shall appear that a majority of all the votes represented by the whole stock of such corporation are in favor of such change, a certificate thereof verified by the affidavit of the President and under the seal of said corporation shall be filed in the office of the Secretary of State; and a like certificate filed for record in the office of the Recorder of Deeds of the county wherein the principal business office of such corporation is located; and upon the filing of such certificate the number of directors, managers or trustees shall be and is hereby declared to be changed from an even number to an odd number in accordance with such vote of the stockholders as aforesaid. [Laws 1877, § 4, p. 67.
An Act to revise the law in relation to quo warranto. In force July 1, 1874.
24. [WHEN WRIT MAY ISSUE-PETITION-INFORMATION-PARTIES.
That in case any person shall usurp, intrude into or unlawfully hold or execute any office or franchise, or any office in any corporation created by the authority of this state, or any public officer shall have done or suffered any act which, by the provisions of law, works a forfeiture of his office, or any association or number of persons shall act within this state as a corporation without being Íegally incorporated, or any corporation does or omits any act which amounts to a surrender or forfeiture of its rights and privileges as a corporation, or exercises powers not conferred by law, or if any railroad company doing business in this state shall charge an extortionate rate for the transportation of any freight or passenger, or shall make any unjust discrimination in the rate of freight or passenger tariff over or upon its railroad, the attorney general or state's attorney of the proper county, either of his own accord or at the instance of any individual relator, may present a petition to any court of record of competent jurisdiction, or any judge thereof in vacation, for leave to file an information in the nature of a quo warranto, in the name of the People of the State of Illinois; and if such court or judge shall be satisfied that there is probable ground for the proceeding, the court or judge may grant the petition, and order the information to be filed and process to issue. When it appears to the court or judge that the several rights of divers parties to the same office or franchise may properly be determined on one information, the court or judge may give leave to join all of such persons in the same information, in order to try their respective rights to such office or franchise. [R. S. 1874, ch. 112, § 1, p. 787.
25. [JUDGMENT.] $ 6. In case any person or corporation against whom any such information is filed is adjudged guilty, as charged in the information, the court may give judgment of ouster against such person or corporation from the office or franchise, and fine such person or corporation for usurping, intruding into, or unlawfully holding and executing such office or franchise, and also give judgment in favor of the relator for the costs of the prosecution : Provided, that instead of -judgment of ouster from a franchise for an abuse thereof, unless the court is of the opinion that the public good demands such judgment, the court may fine the person or corporation found guilty in any sum not exceeding $25,000 for each offense. Whenever judgment is given for any defendant in such information, the person or corporation to whom judgment is given shall recover costs against the relator. [R. S. 1874, ch. 112, $ 6, p. 788.
An Act to regulate the practice in Courts of Chancery. In force July 1, 1872. 26. [PRIVATE CORPORATIONS-DISCOVERY BY.] $ 22. When a corporation, other than a municipal corporation, is defendant to a bill or petition praying discovery of any paper or matter alleged to be in the custody or within the knowledge of any officer or agent of the defendant, it shall not be necessary, for the purpose of procuring such discovery, to make such officer or agent a defendant, but the answer touching the paper or matter concerning which discovery is sought, shall be under the oath of such officer or agent the same as if he had been made defendant: Provided, no corporation shall be required to procure such answer under the oath of any person not under its control at the time when the bill is filed. [R. S. 1874, ch. 22, $ 22, p. 201.]
An Aot in regard to the assessment, levy and collection of the taxes of incorporated cities in this State, for years prior to the year 1877. In force July 1, 1877.
27. [TAXES_VOLUNTARY PAYMENTS.] § 3, All sums of money paid by any person or corporation, as taxes upon any such assessment or levy, or under any such law as specified in section one of this act shall be deemed to have been voluntary payments, but the persons or corporations paying said sums, when the same have been paid as taxes on personal property, and the real estate, in respect to which the same have been, or may be paid, when such payments are made as taxes on real estate, shall be credited with the amounts so paid on account of personal property taxes, as against any taxes which may be extended against the personal property of such persons or corpor