Sequential Number: 135
Law Number: (No. 135.)

Full Title: An Act to incorporate the Buena Vista Manufacturing Company, in the county of Baldwin.

Section I. Be it enacted, etc., That Samuel M. Carter, Mary Carter, Farish C. Furman, John H. Furman, with all such persons as may become interested, be and are hereby incorporated and made a body politic, under the name and style of the Buena Vista Manufacturing Company, and by that name and style may sue and be sued, plead and be impleaded, answer and be answered, defend and be defended, in any court of law or equity in this State having competent jurisdiction, and to make, have and use a common seal, and the same to alter at pleasure; the said company may also make such by-laws as they may deem necessary for their interest, provided they are not repugnant to the constitution or laws of this State, and to select and appoint all such agents, officers or servants as may be necessary for the discharge of the business of said company.

Sec. II. That the capital stock of said company shall be two hundred thousand dollars, the same to be increased or diminished as the said company may deem necessary; and the said stock shall be divided into shares of one hundred dollars each, but the company may commence business as soon as fifty thousand dollars shall have been paid.

Sec. III. That the said company, organized as aforesaid, shall be authorized to manufacture, bleach, dye, print and finish all yarns and goods of which cotton or other fibrous material forms a part; to manufacture leather and shoes, and to manufacture flour, and what-ever the said company may deem necessary to their interest, and vend their manufactures and other merchandize.

Sec. IV. That the said company shall be authorized to purchase, receive, hold and possess any property, real or personal, for the use, benefit and advantage of said company, and to sell and dispose of the same: Provided, that said company shall hold no more real estate than is necessary for the convenient transaction of their business, unless the same be received in payment of their debts, or be purchased at public sale, under execution, in their favor.

Sec. V. That all the private property, both real and personal, of each respective stockholder, shall be held liable to the amount of his,her or their subscribed stock, yet unpaid: Provided, that notwithstanding the dissolution or extinction, expiration by lapse of time, or non-user of the charter, or the cessation of said corporation to transact business, that the corporate property of said corporation shall at all times be bound and liable for the payment of the corporate debts or contracts of said corporation.

Sec. VI. That nothing herein contained shall be so construed as to prevent the State from taxing the property of said corporation as other property of this State.

Approval Date: Assented to 20th December, 1866.
 
 
 

Eileen Babb McAdams copyright 2004