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Teachers may

(2046.) SECTION 1. The People of the State of Michigan enact, Fifteen or more Any fifteen or more Teachers, or other persons residing in this form Corporation. State, who shall associate for the purpose of promoting Education and Science, and improvements in the theory and practice of Teaching, may form themselves into a Corporation, under such name as they may choose, providing they shall have published, in some newspaper printed at Lansing, or in the Notice to be pub county in which such Association is to be located, for at least one month previous, a notice of the time, place and purpose of the meeting for such Association, and shall file in the office of the Secretary of State a copy of the constitution and by-laws of said Association.

lished.

and Personal

(2047.) SEC. 2. Such Association may hold and possess real May hold Real and personal property to the amount of five thousand dollars, Property. but the funds or property thereof shall not be used for any Restrictions upon other purpose than the legitimate business of the Association in securing the objects of its Corporation.

its use.

bilities of Corpo

(2048.) SEC. 3. Upon becoming a Corporation, as herein- Privileges and lia before provided, they shall have all the powers and privileges, ration. and be subject to all the duties of a Corporation, according to the provisions of chapter fifty-five of the Revised Statutes of Chapter 73. this State, so far as such provisions shall be applicable in such case, and not inconsistent with the provisions of this act. This act shall take effect immediately.

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Formation of

Telegraph Com

ed.

An Act to Authorise the Formation of Telegraph Companies.

[Approved March 26, 1851. Laws of 1851, p. 61.]

(2049.) SECTION 1. The People of the State of Michigan enact, panies authoriz That any number of persons may associate for the purpose of constructing a line of wires of Telegraph through this State, or from and to any point within this State, upon such terms and conditions, and subject to the liabilities prescribed in this

organization,

act.

Certificate of (2050.) SEC. 2. Such persons, under their hands and seals, what to contain. shall make a certificate which shall specify:

1. The name assumed to distinguish such Association, and used in its dealings, and by which it may sue and be sued; 2. The general route of the line of Telegraph, designating he points to be connected;

3. The capital stock of such Association, and the number of shares into which the stock shall be divided;

4. The names and places of residence of the shareholders, and the number of shares held by each of them respectively;

5. The term of its existence, not to exceed thirty years; which certificate shall be proved or acknowledged, and recorded in the office of the clerk of the county where any office of such Association shall be established, and a copy thereof filed in the office of the Secretary of State; such acknowledgment may be taken by any officer authorized to take the acknowledgment of deeds of real estate, at the place where such acknowledgment is taken.

cate; where filed.

(2051.) SEC. 3. Upon complying with the provisions of the copies of Cortin last preceding section, such Association shall be, and hereby is declared to be a body corporate, by the name designated in said certificate; and a copy of said certificate, duly certified by the clerk of the county where the same is filed and recorded, or by the Secretary of State, may be used as evidence in all Courts and places, for and against any such Association.

of Association.

(2052.) SEC. 4. Such Association shall have power to pur-General powers chase, receive and hold and convey such real estate, and such only, as may be necessary for the convenient transaction of the business, and for effectually carrying on the operations of such Association, and may appoint such Directors, officers and agents, and make such prudential rules, regulations and by-laws as may be necessary in the transaction of their business, not inconsistent with the laws of this State or of the United States. But this section shall not be so construed as to authorize any such Association to hold any real estate except such as shall be actually occupied by such Association in the exercise of its franchises.

ized to construct

graph.

(2053.) SEC. 5. Such Association is authorized to construct Where auther lines of Telegraph along and upon any of the public roads and Lines of Teic highways, or across any of the waters within the limits of this State, by the erection of the necessary fixtures, including posts, piers or abutments, for sustaining the cords or wires of such lines, provided the same shall not be so constructed as to incommode the public use of said roads or highways, or injuriously interrupt the navigation of said waters; nor shall this act be so construed as to authorize the construction of any bridge across any of the waters of this State.

(2054.) SEC. 6. If any person over whose lands said lines

assess damages.

Dath of.

Commissioners to shall pass, upon which said posts, piers or abutments shall be placed, shall consider himself aggrieved or damaged thereby, it shall be the duty of the Circuit Court of the district within which said lands are, on the application of such person, and on notice to said Association (to be served on the President or any Director), to appoint three discreet and disinterested persons as Commissioners, who shall severally take an oath before any person authorized to administer oaths, faithfully and impar tially to perform the duties required of them by this act; and it shall be the duty of said Commissioners, or a majority of them, to make a just and equitable appraisal of all the loss or damage sustained by said applicant, by reason of said lines, posts, piers, or abutments; duplicates of which said appraisement shall be reduced to writing, and signed by said Commissioners, or a majority of them; one copy shall be delivered to the applicant, and the other to the President, or any Director or officer of said Association or Corporation, on demand; and in case any damage be adjudged to said applicant, the Association or Corporation shall pay the amount thereof, with cost of said appraisal; said costs to be liquiCompensation. dated and ascertained in said award; and said Commissioners shall receive for their services two dollars for each day they are actually employed in making said appraisement.

Penalty for intentional injury to Line.

Liability of Stockholders.

(2055.) Sec. 7. Any person who shall unlawfully or intentionally injure, molest or destroy any of said lines, posts, piers or abutments, or the materials or property belonging thereto, shall, on conviction thereof, be deemed guilty of a misdemeanor, and be punished by a fine not exceeding five hundred dollars, or imprisonment in the county jail not exceeding one year, or both, at the discretion of the Court before which the conviction shall be had.

(2056.) SEC. 8. The stockholders of every Association organized in pursuance of this act, shall be jointly and severally personally liable for the payment of all debts and demands against such Association, which shall be contracted, or which shall be, or shall become due during the time of their holding such stock; and no stockholder shall be proceeded against for the collection of any debt or demand against such Association, until judgment thereon shall have been obtained against the Association, and an execution on such judgment shall have been returned unsatisfied in whole or in part, or unless such Association shall be dissolved.

(2057.) SEC. 9. Every such Corporation shall, annually, within

where to be filed

ten days from the first of January, make a report, which shall Annual Reports state the amount of capital, and the amount actually paid in, the investment of any portion of the earnings of such Company in its business, and the whole amount of money which has at any time been borrowed and then remaining unpaid; the commencement, general route, termination, and length of the fines of the wires of such Company, and the names of the places through which they pass; which report shall be signed by the President and a majority of the Directors, and shall be verified by the oath of the President or Secretary of such Corporation, and filed in the office of the clerk of the county in which the business of any such Company is carried on, and a duplicate thereof in the office of the Secretary of State; and if any such Company shall fail so to do, all the Directors thereof Liability for reg shall be jointly and severally liable for all the debts of the port. Company then existing, and that shall be contracted before such report shall be made.

lect to make Re

(2058.) SEC. 10. All Corporations formed under this act shall Annual Tax. pay to the Treasurer of the State of Michigan an annual tax of one per centum on the whole amount of capital actually paid in; and any investment of the earnings of any such Company in their business, shall be considered as so much capital paid in; also upon all sums of money at any time borrowed by any such Company, and then remaining unpaid in whole or in part; which tax shall be paid on the first Monday of February in How estimated, each year, and shall be estimated upon the report of such' Company for that year, made as required by section nine of this act; and such tax shall be in lieu of all State taxes upon the real and personal estate of such Company,

and when paid.

(2059.) SEC. 11. The stock of any such Corporation shall be Transfer of Stock. deemed personal estate, and shall be transferable in such a manner as shall be prescribed by the by-laws of the Company; but no transfer shall be valid for any purpose whatever, except to render the person to whom it shall be transferred liable for the debts of such Company, according to the provisions of this act, until the same shall have been entered upon the books of the Corporation, so as to show the names of the parties by and to whom transferred, the number and designation of the shares, and the date of the transfer; and no shares shall be transferable until all previous calls or assessments thereon shall have been fully paid in, or shall have been declared forfeited for the non-payment of calls thereon. It shall not be lawful for any such Corporation to use any of their funds in

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