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Capital,

$80,000, and may be in

creased to $150,000.

5 directors.

President.

of voters.

tion, shall be $80,000, but may be increased to any sum not exceeding $150,000, whenever it is deemed expedient by a majority of the stockholders, holding two-thirds of the existing stock.

378. Sec. III. To manage the affairs of said corporation, the stockholders shall annually, by a majority of votes, elect five directors, who Qualification shall choose a president from their own body. Each share of stock in such election shall be entitled to a vote, but no share shall confer the right of a vote, unless transferred to the holder on the books of the corporation, at least one month previously to the time of voting. Privileges of 379. Sec. IV. The said corporation shall possess the privilege of navigating the rivers and other waters of this State, with boats or vessels propelled by steam, whether employed alone, or for the purpose of warping, towing, or in any manner impelling other boats and vessels, rafts, floats or arks.

navigation.

Liable as

common carriers.

Incorporated.

Style.
Capital,
$125,000.
May be in
creased to

380. Sec. V. The said corporation shall be liable for all losses caused by fire and steam, if occasioned by their own negligence, or that of their agents or servants, but not otherwise: Provided, that the law governing carriers now in force, shall be in no wise innovated by this section.

381. Sec. VI. The said corporation shall be authorized to enjoy the exclusive use of its own wharf or wharves, or such wharf or wharves as it may rent, lease or occupy, but it shall not hold any other than may be necessary for the convenient transaction of its own business.

An Act, to establish a company, under the name of the Savannah and
Charleston Steam Packet Company.-Approved Dec. 30th, 1836.
Pam. 260.

382. Sec. I. George W. Anderson, Jeremy Store, Samuel B. Parkman, William Patterson, Richard R. Cozle, and such other persons as may become members thereof, be, and they are hereby declared a body corporate and politic, by the name and style of the Savannah and Charleston Steam Packet Company, with a capital of one hundred and twenty-five thousand dollars, and the right to increase the same to five hundred thousand dollars, to be divided into shares of one thousand Object of the dollars each, for the purpose of conveying passengers, and transporting goods, wares, and merchandize, by steam-packets, between the city of Savannah, in the State of Georgia, and the city of Charleston, in the State of South Carolina, or between the said city of Savannah, and any other port on the Atlantic board, at the election from time to time, of the directors of the said company.

$500,000.

company.

Corporate privileges.

Votes.

Proxies.

Five directors named. Their powers.

383. Sec. II. The said company shall have such number and succession of officers and members, as shall be ordained and chosen by the rules and by-laws, to be made for their government and direction, and shall have power and authority to make all rules and by-laws, not repugnant to the laws of the land; to have and keep a common seal, and the same to alter at will; to sue and be sued; plead and be impleaded in any court of law or equity in this State, and shall have and enjoy, all and every right and privilege incidental, and belonging to corporate bodies, according to the laws of this State.

384. Sec. III. In all elections, and upon any other subject or question, each stockholder shall be entitled to as many votes as he or she shall hold shares, one vote for every share, and stockholders absent from any meeting, shall be entitled to vote by proxy.

385. Sec. IV. The persons above-named, shall be, and they are hereby constituted directors of the said company, with power to appoint all agents and officers, and to do all other acts for the management of

the concerns of the said company, until an election can take place under the charter; and they are further authorized to take up by subscription, in such manner as they may deem expedient, either the whole, or any part of the said capital; and the subscribers shall in no Stockholders' event, be bound for the payment of a larger sum than the amount of liability. their subscription, and their private property shall be exempt from all liability on account of any claims against the company, beyond the amount of its corporate assets, and they are further authorized, so soon as seventy-five thousand shall have been subscribed, to call a general meeting of the stockholders, for the purpose of making by-laws and electing officers.

perty.

386. Sec. V. The said company shall have power and capacity to Capacity of purchase, take, enjoy, sell and alien lands and tenements, heredita- owning proments, goods, chattels, rights and credits, which may be connected with, or in any manner conducive to the purpose for which said company is established.

years, but

387. Sec. VI. This act shall be taken and deemed to be a public Chartered 14 act, shall be and continue of force for the term of fourteen years, and confers no shall not be construed to confer any exclusive privileges.

Resolution directing the State's stock in the Ogechee and Alatamaha Canal Company to be sold at not less than $10,000. Pam. of 1836, p. 38 of Res.

Resolutions concerning Internal Improvement generally.

A view of the importance of internal communication by canals or otherwise to the State in reference to its own interests, or as a member of the Union, with a survey of our topographical advantages; referring to an accompanying bill creating the office of Civil and Topographical Engineer, [1820, vol. iv. p. 5 of Res.]-In reference to the act of Congress of April, 1824, authorizing the president to procure surveys, plans, estimates, &c., [1824, Ib. 38.]—Authorizing the governor to engage the services of a Civil and Topographical Engineer; recommending an appropria tion (which was made Vol. iv. 63 of the acts) of $10,000, with a view to the commencement of a system of internal improvements, [1824, Ib. 49.]—Report of the standing committee of 1827 refers to the abortive attempts and little progress in the improvement of Rivers. "Contracts, hitherto made in this State with individuals," say the committee, "have uniformly been attended with disaster and defeat. It is now deemed almost a licentious use of the public treasury to place it in the hands of any contractor, unless he will submit to a constant and responsible supervision of his labor, which destroys the very object of all such engagements." Referring to the bill then in progress for the permanent establishment of a board of commissioners for internal improvements, they consider it, with other auxiliary measures, the best system which presents itself for the future prosperity of the State, [Ib. 100.]-A review of our agricultural staples-the inadequacy of the previous local legislation-the impracticability of improving rivers and constructing common roads and keeping them in repair-the example of New York and Pennsylvania referred to -Recommending a loan on the credit of the State," Resolved, that the times require, and the resources of the State authorize a scheme of internal improvement from the seaboard of this State to the interior by rail-road, on the faith and credit of the State, and as a great State work."-[1834, pam. 288.]

Resolutions relative to particular locations or companies.

Steam-boat Company, 1820, vol. iv. p. 3 of Res.-1823, Ib. 32-1824, Ib. 40Canal between the navigable waters of the St. Mary and Suwana, 1823, lb. 26.Canal or other communication from Brunswick to the interior, 1823, Ib. 32-1824, Ib. 39-1825, Ib. 55-1832, pam. 253. -Road from Alapaba to the Florida line, 1823, Ib. 36-Canal from the Alatamaha to Sapelo river, 1824, Ib. 41.-Canal from Piney island to Catfish creek, 1825, lb. 49.—Canal or road to connect the waters of the Gulf of Mexico with those of the Atlantic, 1825, Ib. 54 -Unacoi Turnpike Company, 1826, Ib. 69.-Savannah and Ogechee canal, 1829, Ib. 133.-Communication between West Point and Columbus, 1832, pam. 220-Rail-road from West Point to Columbus, 1833, pam. 389.-Rail-road communication between the valleys of the Ohio and Mississippi and the Southern Atlantic coast, 1835, pam. 314. Acts concerning a loan of $3,000 to the Unocoi Turnpike Company, vol. iv. 309. Ib. 335. Ib. 342.

Appropriation of $60,000 for the survey and location of a route from the Chattahoochee river to the Tennessee line, pam. of 1836, 26.

exclusive privilege.

382

Preamble.

Incorporated.

Its style.

May make by-laws, &c.

Proviso.

May sue and be sued.

May hold

real estate.

Geo. Mut. In.
Comp. incor-

previous act repealed, &c.

JOINT STOCK COMPANIES.

An Act to incorporate the Darien Eastern Steam Saw Mill Company.
Approved Dec. 13, 1820. Vol. IV. 187.

Whereas, it is necessary for the encouragement and promotion of useful machinery, that associations of persons or companies, formed for the purpose of establishing steam-engine and other valuable machines, should be made capable of holding, enjoying, and defending any property they have, or may acquire;

1. Be it therefore enacted, &c. That John Kell, chairman, James H. Giekie and company, general agents, Charles McGregor, secretary, William Carnochan, and William Carnochan, and James H. Giekie, as executors of William Dunnett, deceased, proprietors of the Darien eastern steam saw mill, lately erected on the north branch of the river Altamaha, below the city of Darien, and their successors in office be, and they are hereby declared to be, a body corporate, by the name and style of the Darien Eastern Steam Saw Mill Company, and by the said name shall have perpetual succession of officers and members, or proprietors, with power to make, alter, change, and amend such by-laws as may be necessary and agreed upon by the said company; provided, such laws be not repugnant to the constitution and laws of this State.

2. Sec. II. The said Darien Eastern Steam Saw Mill Company, and their successors, shall be, and they are hereby made capable of suing and being sued, plead and be impleaded, and of using all necessary and lawful means for recovering or defending any property, debts, or demands, which they may claim in behalf of said company; to hold real and personal property; and generally, they shall and are hereby declared to be vested with all privileges, powers, advantages, rights, and immunities, of an association or company of people incorporated for lawful purposes.

An Act to incorporate the Georgia Mutual Insurance Company, and to repeal the act heretofore passed for that purpose.-Approved Dec. 9, 1822. Vol. IV. 194.

3.

Thomas Cumming, John Campbell, Hugh Nesbit, AnderCorated, and son Watkins, William Micou, and Samuel Hale, or any three or more of them, be, and they are hereby constituted a board of commissioners, whose duty it shall be to open a book of subscription for shares in said company; which book shall be opened on the first Monday in February next, and shall continue open for twenty days at such place, and for so many hours each day, as the said board of commissioners may determine on; during which time, it shall be lawful for any person or persons, citizens of this State, to subscribe for any number of shares not exceeding one hundred; and if the whole amount of capital hereinafter mentioned be not subscribed at the said expiration of twenty days, it shall then be lawful for any citizen or citizens aforesaid, or for any corporation or body politic within this State, to subscribe for any number of shares so remaining unsubscribed for.

Number of

shares limited.

Notice to be 4. Sec. II. Said board of commissioners shall give notice in the public gazettes of Augusta, at least one week before the opening of

given.

said book of subscription, of the time and place of subscribing; and that said commissioners may require from each subscriber a sum not exceeding one per cent. on the amount subscribed by him, her, or them, to be paid into the hands of said commissioners at the time of subscribing.

body corpo

5. Sec. III. The stockholders in said institution shall be, and they The stockare hereby declared to be, a body corporate and politic, under the holders a name and style of "The Georgia Mutual Insurance Company ;" and rate. Its style. by that name and style may sue and be sued, plead and be impleaded, answer and be answered unto, in any court of law or equity in this State or elsewhere, having competent jurisdiction, and shall enjoy perpetual succession of officers and members, may have and use a common seal, may make, ordain, and establish such by-laws, rules, and regula- By-laws, &c. tions as they may deem expedient and necessary to carry into effect the objects of this institution; Provided, such by-laws, rules, ordi- Proviso. nances, and regulations be not repugnant to the laws or constitution of this State or of the United States.

mence

6. Sec. IV. The capital stock of said company shall not exceed Capital stock. $500,000, which shall be divided into shares of one hundred dollars; but the company may commence business so soon as one hundred When they thousand dollars shall have been paid, according to such plan as they may commay adopt; and that, upon the expiration of the said twenty days here- business. inbefore allowed for subscribing, it shall be the duty of the said commissioners to convene the stockholders, or subscribers, by giving ten days' notice in the public gazettes of Augusta of the time and place of meeting; who may then, or at any time thereafter, proceed to the elec- Board of dition of a board of directors, under such rules and regulations as they elected. may adopt for that purpose.

rectors to be

7. Sec. V. The directors so appointed shall, at their first meeting President, thereafter, proceed to the appointment of a president from among their when elected. own body; and the said president and directors may appoint such offi- Other cers under them as they may deem necessary and expedient for carrying the said institution into effect.

officers.

property

8. Sec. VI. The said company, when organized as aforesaid, shall May insure have full power and authority to insure property and effects, of every against fire nature and description, against losses by fire or water, and all other or water. accidents, dangers, and casualties for which insurance companies are usually established, and also on lives.

within six

first term.

charter.

9. Sec. VII. Said company shall be bound to pay all losses on To pay losses property, or other assurances made by them, within six months after months. the happening thereof; and in all cases where the claimant shall be Suits tried compelled to institute a suit for the recovery of such losses, the same shall stand in order for trial at the first term; and the amount recovered shall be on interest from and after the expiration of the said six months; and if the said company shall neglect or refuse to pay such losses within Forfeiture of the said six months, where there is no dispute as to the amount claimed, or within ten days after final recovery against them in cases disputed, then, and in such event, this charter may be declared null and void. 10. Sec. VIII. The said company shall have power to receive, May hold hold, purchase, and possess any property, real or personal, for the use, benefit, or advantage of the said corporation, and to sell and dispose of the same; and they are hereby declared to be vested with all powers, advantages, privileges, and emoluments of an association of persons incorporated for the intentions and purposes aforesaid; Provided always, Proviso. that nothing in this act contained shall be so construed as to authorize the said company to issue change bills, or printed or engraved notes, or bills of credit.

property.

To continue thirty years.

Charter may be repealed.

opened and business commenced.

11. Sec. IX. The said corporation shall and may continue for and during the term of thirty years from the passage of this act, unless the same should be forfeited according to the provisions thereof.

12. Sec. X. The legislature shall be authorized to repeal or alter this charter, whenever it shall to them appear necessary for the public good.

Sec. XI. The act entitled An Act to incorporate the Georgia Mutual Insurance Company, passed the 21st December, 1821, is hereby repealed.

An Act to incorporate the Macon Insurance Company, and to define the powers and liabilities of said company.-Approved Dec. 23, 1830. Pam. 40.

Whereas, the establishment of an Insurance Company in the town of Macon is represented as being expedient and of great benefit, and that a sufficient capital can be raised, that will guarantee the most prompt and faithful indemnification for all losses which may be insured against by the said company.

Books may be 13. Be it enacted, &c. That [certain persons may open books.] -And when such portion of the stock shall have been subscribed, as hereinafter mentioned, shall authorize the company to commence business, they shall give public notice thereof, requesting a meeting of the said stockholders for the election of directors to manage the affairs of the said company, whose duty it shall be to elect a president from their number.

Election of directors.

May appoint sec'y, &c.

Style.

Powers.

14. Sec. II. An annual election of directors shall take place in Macon, in the month of December.

15. Sec. III. The directors shall have power to appoint a secretary and all other officers necessary for the management of the affairs of the company.

Incorporated. 16. Sec. IV. That the said president and directors, and their successors shall be, and they are hereby declared to be a body corporate, in name and deed and by the style and denomination of the "Macon Insurance Company," and by the same name and style, shall have succession of officers and members, for the term of twenty years; and a common seal to use; they shall have authority to make, alter, amend, and change such by-laws as may be agreed on by the president and directors provided, such by-laws be not repugnant to the laws or constitution of the State of Georgia or the United States: and provided also, that the property of the stockholders shall be liable for any debt contracted by the company.

Capital, $50,000.

May insure.

May sue and be sued.

17. Sec. V. The capital of the said company shall consist of $150,000, to be divided into shares of $100 each, and the company may commence business whenever $50,000 shall be paid in and deposited.

18. The said company shall have power and authority to insure property and effects of every nature and description, against all risks of navigation, fire and other casualties. Also, to assure lives of all and every description, and to do all acts for which insurance or assurance companies are usually established, organized and incorporated.

19. Sec. VI. The said company shall have full power and authority, under the style and name of the "President and Directors of the Macon Insurance Company," to sue for and receive all such sum or sums of money, as may become due to the said company before any tribunal having jurisdiction thereof; and the rights and privileges of the said company in any court, or any tribunal whatever to defend,

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