CHAPTER 153. AN ACT for the benefit of common school district No. 34, in Crittenden county. WHEREAS, It appears that the trustees of school district No. 34, in Crittenden county, for the year 1859, failed to receive the amount of money due said district, although having properly reported the same to the Superintendent of Public Instruction; and the number of children in said district, as reported, being thirty-six, which, under the apportionment for the school year 1859, would entitle said district to the sum of forty-three dollars and twenty cents; therefore, Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That the Auditor of Public Accounts be directed to draw his warrant on the Treasurer in favor of the common school commissioner of Crittenden county for the sum of forty-three dollars and twenty cents, to be paid out of any money in the treasury not otherwise appropriated. 2. This act to take effect from its passage. Approved October 3, 1861. 1861. CHAPTER 154. AN ACT for the benefit of common school district No. 15, in Crittenden county. WHEREAS, It appears that the trustees of school district No. 15, in Crittenden county, for the year 1858, failed to receive the amount of money due said district, although having properly reported the same; and the number of children therein being thirty-nine, which entitles said district to the sum of forty-six dollars and eighty cents under the apportionment of the school fund for the year 1858; therefore, Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That the Auditor of Public Accounts be directed to draw his warrant on the Treasurer in favor of the common school commissioner of Crittenden county, for the sum of forty-six dollars and eighty cents, to be paid out of any money in the treasury not otherwise appropriated. §2. This act to take effect from its passage. 1861. CHAPTER 156. AN ACT for the benefit of James C. Edwards, late sheriff of Green county. Be it enacted by the General Assembly of the Commonwealth of Kentucky: 1. That James C. Edwards, late sheriff of Green county, be, and he is hereby, allowed the further time of one year, from and after the passage of this act, to collect the taxes due him in Green county for the years 1855, 1856, 1857, and 1858: Provided, however, That the said James C. Edwards and his sureties, in his official bonds, shall be liable to any party aggrieved for any illegal distress, or other misconduct of the said Edwards, under the provisions of this act. § 2. This act shall take effect from and after its passage. Approved October 3, 1861. CHAPTER 157. AN ACT to amend an act, entitled "An act for the benefit of James Edmonson of Hopkins county, and others. Be it enacted by the General Assembly of the Commonwealth of Kentucky: That the provisions of an act, entitled "An act for the benefit of James Edmonson, of Hopkins county, and John Bawe, of Cumberland county," approved the 17th of February, 1859, be continued in force, so far as the said Edmonson is concerned, for the period of two years from the passage of this act: Provided, Said Edmonson shall, at any circuit court for the county of Hopkins, after the month of July, 1862 and 1863, make the necessary proof as prescribed in said act. Approved October 3, 1861. CHAPTER 158. AN ACT for the benefit of Ben. L. McAtee and James Wood, late sheriffs of Nelson county Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That until the first day of January, 1863, is allowed to Ben. L. McAtee and James Wood, late sheriffs of Nelson county, to close and settle up the unfinished business in their hands as sheriffs aforesaid, with power to distrain for all uncollected fees, county taxes, State taxes, and railroad tax: Provided, That nothing in this act shall be construed to give said McAtee and Wood any further time to account for any taxes, county levies, or fees that may have been or should have been collected by them: Provided further, That the said sheriffs, and their sureties in their official bonds, shall be responsible to any party aggrieved for any illegal distress or other misconduct of said sheriffs under the provisions of this act. § 2. This act shall take effect from and after its passage. Approved October 3, 1861. 1861. CHAPTER 159. AN ACT to incorporate the Bell Insurance Company, of Louisville. Be it enacted by the General Assembly of the Commonwealth of Kentucky: Corporators' names. ers. § 1. That J. K. Bell, B. F. Guthrie, Warren Mitchell, E. Bustard, Robert Bell, John Dunlop, and Henry Dent, together with their associates, successors, and assigns, be, and are hereby, appointed and made a corporation and body politic, under the name and style of the "Bell Insurance Company," of Louisville, and shall continue Name & style. until the first day of January, one thousand eight hundred and ninety-nine; and by that name are made capable in law to have, purchase, or receive, possess, enjoy, and Corporate powretain, to them and their successors, lands, tenements, rents, goods, chattels, public or private securities of any kind, quality, or nature whatsoever, not exceeding at any one time the sum of four hundred thousand dollars, and to sell and dispose of the same at any time or in any manner, and to sue and be sued, plead and be impleaded, answer and be answered, defend and be defended, in any court of record, or in any other place whatsoever; also to make and use a common seal, and the same to break, alter, and renew at pleasure; also to ordain, establish, and put in execution such by-laws as may be necessary and convenient for the government of said corporation, not contrary to law. § 2. The capital stock of this company shall not exceed Capital stock. four hundred thousand dollars, and shall be divided into shares of fifty dollars each. May op'n books for subscripti'n of stock. § 3. The corporators named in this act, or any three of them, shall, within twelve months from the passage of the same, open books for the subscription of stock; and when two thousand shares or more shall have been subscribed, they shall give notice of a meeting of the subscribers, when ten dollars shall be paid in hand on each share subscribed for, and the company shall be organized when the remaining forty dollars on each share shall be secured, to be may organize. paid at the time and in the manner that shall be designated by the shareholders who have paid in ten dollars on When comp'ny 1861. Stock may be subscribed for by others upon failing to pay original $10. each share subscribed for. The corporators named, or any of them, who shall fail to subscribe for stock, shall cease to be members of the company; and all such subscribers as shall fail to pay ten dollars on each share subscribed for, on the day designated in the second notice, shall cease to be stockholders, and the stock subscribed for by them may be subscribed for by others, under the direction of the person or persons who received the original subscription; and in case any subscriber shall fail to pay any call made by the board of directors (who are hereby authorized to make such calls) for the unpaid balance of his subscription, and remain in default for the space of sixty days, the board may, in their discretion, forfeit his stock for the benefit of the company. And the board of directors may, in Steek-how to their by-laws, prescribe the manner in which the capital stock shall be increased; but in no event shall it exceed the sum of four hundred thousand dollars. Stock may be forfeited upon failure to pay calls. be increased. Directors shall manage busi ness of comp'y. § 4. The business of this company shall be managed by five directors, to be chosen by the subscribers, and no director shall hold less than twenty-five shares of stock. An election for directors shall be held at the first meeting of the subscribers, and the directors then elected shall conTerm of office. tinue in office until the first Monday in June next succeeding, or until their successors are chosen; and on the first Monday in June, of each year, an election for directors shall be held at the office of the company; such election How elections to be held under the direction of three stockholders, who shall have been appointed by the directors, and shall be by ballot, and by a plurality of votes of the stockholders and their proxies, allowing one vote for each share of stock; and upon all questions submitted to the stockholders for decision, the same rule as to voting the stock shall apply. to beld. such officers as sary, and pre §5. The board of directors may choose one of their May choose number as president, in such manner and for such a period may be neces- as they may ordain by their by-laws, and employ such scribe compon- clerk, secretary, or agent, and servants as they may deem necessary for conducting the affairs of the company, and make such compensation as may be agreed on; at all meetings of the board of directors, a majority of the whole number shall form a quorum for the transaction of busi sation. insuring. ness. § 6. Whenever the sum of ten thousand dollars shall be When author- paid in, and the further sum of ninety thousand dollars ized to com'nce shall be secured to be paid, to the satisfaction of the president and directors, they shall have full power and authority, in the name of said company, to make insurance against fire, on the general conditions and principles of fire insurance, to the full extent now enjoyed by other companies now incorporated for the same purpose by the Com 1861. What may be insured by the monwealth of Kentucky, and to make all kinds of insur- Form of certifi cate, &c., to be Lien on unpaid stock. May purchase §7. The form of certificates of shares and manner of transfers shall be regulated by the by-laws of the corporation, and a lien is hereby created in favor of the corporation, on the stock of each shareholder, for any claim that the company may have for the unpaid part of his shares or other debts due or arising to said company; and no transfer shall be made except by the sanction of the board of directors. The company shall have the right to purchase the stock of any stockholder who withdraws his business from the company, or whose business is unsatisfactory to stock of withthe president and directors, at a discount' of five per cent. upon the value of the stock, as shown by the books of the company. § 8. At any regular meeting of the stockholders (a Dividends may majority of the stock consenting) it may be determined to declare a portion of the profits of the company, by way of return premium, to such policy holders as the stockholders at such meeting may direct. drawn memb'rs be declared. When statements be to § 9. On the first Monday in June, in each year, a fair and clear statement of the affairs of the company shall be made out. made out and exhibited to the stockholders, and a dividend of such proportion of the profits be made as a majority of the president and directors shall decide; but in no case shall the capital stock be diminished. § 10. In no case shall this corporation exercise the business of banking § 11. Should any election directed to be held under the charter of said company, from any cause, be neglected to be held on the day designated, or to be held on a subsequent day, the corporation shall not from that cause be dissolved, but any and all elections made in good faith shall be held and deemed valid as if held on the day designated by the act of incorporation. § 12. That said insurance company shall not at any time own real estate exceeding in value one hundred thousand dollars. Approved October 3, 1861. Not allowed to use banking privileges Upon elections failing to pany not dis be held, the com solved. Amount of real estate. |