bequest or otherwise; and of selling, conveying or leasing any estate, real, personal or mixed, for the purposes hereinafter mentioned, and no other; and they and their successors in office, shall have full power to make and enter into contracts, to make such rules and by-laws as may be necessary for the good government and success of said academy: Provided, Such bylaws are not inconsistent with the constitution and laws of the United States and of this State. SEC. 3. The capital stock of the said corporation shall not exceed the sum of ten thousand dollars, and shall be divided into shares of five dollars each. SEC. 4. Said corporation shall have power to establish and continue in the township of White Pigeon, an institution of learning for the instruction of persons in the various branches of literature and the arts and sciences. SEC. 5. There shall be six trustees of the said coporation, who shall be members thereof, and who shall manage all the affairs thereof; and the first trustees shall be Levi Baxter, Edwin Kellogg, John Redfern, Eilas S. Swan, Charles Kellogg and George W. Beisel, who shall hold their offices, and have and exercise the powers and franchises hereby granted, until the first Monday in January, eighteen hundreen and forty-eight, and until others are elected in their places. SEC. 6. There shall be, on the first Monday of January, eighteen hundred and forty-eight and on the first Monday of January in every succeeding year, a general meeting of the stockholders of said corporation at their academy building in the village of White Pigeon, or at any other place to be designated by the by-laws of said corporation; and a majority of the stockholders who shall meet in person or by proxy, shall elect by ballot six of the stockholders to be trustees of said corporation for the year then next ensuing. SEC. 7. The trustees of said corporation shall have power to choose of their own number a president, treasurer and secretary, who shall immediately enter upon the duties of their offices, and hold the same from the time of their election until the first Monday of January of the ensuing year, and until others are chosen in their stead: and in case any of the trustees shall die, resign, refuse or neglect to act, then and in such case the remaining trustees may, within thirty days thereafter, elect by ballot other stockholders of the said corporation in their stead, who shall hold their offices in the same manner as those first elected. SEC. 8. Each stockholder shall be entitled to one vote for each share of which he shall be the holder, and the said trustees shall receive subscriptions for shares in said corporation until the capital stock may be subscribed. The said shares shall be assignable and transferable according to such rules as the board of trustees shall from time to time make and establish, and shall be considered personal property. SEC. 9. Each person residing in said county at the date of the passage of this act, who were subscribers and donors for erecting a building in said village in the year eighteen hundred and forty, for a branch of the university, shall be stockholders to the amount they have severally subscribed and paid for the benefit of said branch. SEC. 10. That all the real and personal estate at any time heretofore donated to the regents of the University for the use of said branch by said subscribers, shall hereafter belong to and be owned by said corporation for the use of said institution. SEC. 11. In case it shall at any time happen that an election of trustees should not be made on any day when pursuant to this act it ought to have been made, the said corporation shall not for that cause be dissolved; but it shall and may be lawful on any other day to hold an election for trustees, in such manner as shall be provided by the by-laws and ordinances of said corporation. SEC. 12. The said trustees shall faithfully apply all funds in money or otherwise, by them collected or acquired, according to their best judgment, in the erection of suitable buildings, in the support of necessary officers and teachers, and procuring a suitable library and other articles necessary to insure the success of said institution. SEC. 13. All process against said corporation shall be by summons, and the service of the same shall be by leaving an attested copy with the president of said board of trustees, or in his absence, at his last place of abode, at least six days previous to the return day thereof. SEC. 14. The trustees of said corporation shall be jointly and severally liable for all debts against the corporation: Provided, That no execution shall issue against the individual property of said trustees until the property of the corporation shall have first been exhausted. SEC. 15. The principal of the academy shall, on or before the first day of November of each year, report to the Superintendent of Public Instruction the number of pupils in said academy, the studies pursued, the books used, and the general condition of the institution. SEC. 16. The legislature may at any time alter, amend or repeal this act. [ No. 101. ] AN ACT to incorporate the Raisin Institute. SECTION 1. Be it enacted by the Senate and House of Representatives of the State of Michigan, That Elijah Brownell, Eliphalet Jones, William E. Warner, Samuel A. Hubbard, Joseph L. Peters, Stephen Allen and Anson Backus, of the county of Lenawee, together with such other persons as may be associated with them for that purpose, shall be and they are hereby constituted a body politic and corporate, by the name and style of the "Raisin Institute," subject to the provisions relating to corporations, contained in chapter fifty-five of the revised statutes of eighteen hundred and forty-six, and such amendments thereof as may from time be made by the legislature. SEC. 2. The trustees shall have power, and they are hereby authorized to establish in the township of Raisin, in the county of Lenawee, an institution for the instruction of young persons in ancient or modern languages or literature, and the arts and sciences, and shall faithfully apply all funds received by them for that purpose, by subscription, bequest or otherwise, in providing suitable buildings, employing professors and teachers, procuring books, maps, philosophical and other apparatus necessary or proper for the successful prosecution of study in said institution. SEC. 3. The capital stock of said corporation shall not exceed the sum of ten thousand dollars, and shall be divided into shares of ten dollars each, which shall be considered personal property; and they may hold any property or estate, real, personal or mixed, for the purposes mentioned in this act, and none other, not exceeding in value the amount of capital stock herein authorized. SEC. 4. In collection of debts against said corporation, if corporate property cannot be found sufficient to satisfy any execution issued against it, the trustees shall be liable as partners in trade for any debt created by them, whilst trustees in behalf of said corporation; and if such debts cannot be collected from the corporate property of said institution, or from the property of the trustees as aforesaid, then each stockholder shall be individually liable therefor. SEC. 5. The institution shall be subject to visitation at any time by the Superintendent of Public Instruction; and the trustees shall annually, on or before the twentieth day of October, in each year, make to the Superintendent a full report of the literary and pecuniary condition of said institution. SEC. 16. The legislature may at any time alter, amend or repeal this act. [ No. 121. ] AN ACT to incorporate the Howell Academy. SECTION 1. Be it enacted by the Senate and House of Representatives of the State of Michigan, That Josiah Turner, F. C. Whipple, Elijah F. Burt, Alvan Isbell, Gardner Wheeler, Geo. W. Lee, Jonh Kenyon, Jr., Almon Whipple, and Edward E. Gregory, together with such other persons as may be associated with them, and may become stockholders of the incorporation hereby created, shall be and they are hereby constituted and declared a body corporate and politic, by the name and style of "Howell Academy," and in their corporate name may sue and be sued, defend and be defended, in all courts of this State; may have a common seal, which they may renew or change at pleasure; and shall have, enjoy and exercise all the powers, rights and privileges which appertain to corporate bodies for the purposes expressed in this act. SEC 2. The capital stock of said corporation shall not exceed ten thousand dollars, and shall be divided into shares of five dollars each. SEC. 3. The said corporation hereby created shall be capable in law of acquiring and holding by purchase, gift, grant, bequest or otherwise, and of selling and conveying, or leasing any estate, real, personal or mixed, for the purposes mentioned in this act, and none others; and the trustees thereof and their successors in office, shall have full power to make and enter into contracts, to establish rules and by-laws as they may deem necessary for the good government of the said academy, and for the holding and disposing of its property and effects for the purposes mentioned in this act, not inconsistent with the constitution and laws of this State. SEC. 4. There shall be nine trustees of the said corporation, who shall be stockholders thereof, and who shall manage and control all the affairs of the same, maintaining perpetual succession; three of whom shall be elected at the annual meeting in each year, to fill the vacancy of a like number whose term of office shall expire upon the election of their successors; and the persons named in the first section of this act shall be the first trustees; and the said nine trustees shall, at their first meeting, proceed to cast lots for the terms of one, two and three years, by drawing numbers; and the three persons who shall draw the three highest numbers shall hold their office for the term of three years from and after the first day of January, one thousand eight hundred and forty-eight; and the three persons who shall draw the next three highest numbers shall hold their office for the term of two years from and after the first day of January, one thousand eight hundred and forty-eight; and the remaining three persons shall hold their office for the term of one year from and after the first day of January, one thousand eight hundred and forty-eight. SEC. 5. There shall be a meeting of the stockholders of said corporation on the first Monday of January, one thousand eight hundred and forty-nine, and on the first Monday in January in each succeeding year, at some convenient place in the village of Howell, to be designated by the by-laws of said corporation; and a majority of the stockholders who shall meet in person or by proxy, shall elect three of the stockholders to be trustees, in place of those whose term may expire, each person being entitled to one vote for each share he may hold in his own right, or by proxy. SEC. 6. The said trustees shall have power to choose from their own number, a president, treasurer and secretary, who shall hold their offices during the pleasure of the said trustees; and in case any of the trustees shall die, resign, refuse or neglect to act, the remaining trustees may, within thirty days after any such vacancy shall occur, elect by ballot other trustees of stockholders of said corporation to fill such vacancy. SEC. 7. The said trustees are authorized to receive subscriptions for shares to the capital -stock of said corporation, and such shares shall be assignable and transferable, agreeably to such by-laws as the said trustees shall from time to time establish, and shall in law be considered personal property. SEC. 8. The said trustees are hereby empowered and authorized to establish in the township of Howell, in the county of Livingston, an institution for the instruction of young persons in the various branches of literature, science and the arts, and shall faithfully apply the funds by them from time to time received under the provisions of this act, in providing suitable buildings, employing professors and teachers, procuring books, maps, philosophical and other apparatus necessary to insure a successful prosecution of study in said institution. SEC. 9. The said trustees shall, at least ten days previous to each annual election of trustees as aforesaid, cause a list of the names of all the trustees and stockholders of said corporation, together with a statement of the amount of stock owned by each, duly authenticated by affidsvit, to be filed in the office of the county clerk of the county of Livingston; and the said list and statement shall be prima facia evidence that the individuals therein named are the trustees and stockholders of said corporation, and that the statement of the stock is the amount owned by each individual respectively. SEC. 10. That said academy shall be subject to the annual visitation of the Superintendent of Public Instruction; and the trustees of said academy shall annually, on or before the twelfth day of October in each year, make to said Superintendent a full report of the literary and pecuniary condition of said academy. SEC. 11. In case it shall at any time happen that an election of trustees shall not be made on any day, when pursuant to this act it ought to have been made, the said corporation shall not for that cause be dissolved, but it shall and may be lawful to assemble on any other day to hold an election for trustees, in such manner as shall be provided by the by-laws and ordinances of said corporation. SEC. 12. Said company shall be subject to the provisions of chapter fifty-five of the revised statutes of eighteen hundred and forty-six, so far as the same may be applicable. Approved March 27, 1848. [ No. 110. ] AN ACT to incorporate the Leoni Theological Institute. SECTION 1. Be it enacted by the Senate and House of Representatives of the State of Michigan, That Samuel Bebans, A. W. Curtis, Rufus Thayer, John Diamond, William Holmes, William M. Sullivan, G. J. Barker, William D. Moore, Marcus Swift, Jason Steele, Jeptha Hewit, and S. P. Rice, of the State of Michigan, and their successors, be and they are hereby created a body corporate and politic, to be styled "The Board of Trustees of the Leoni Theological Institute, and by that name shall have perpetual succession, with full power to acquire, hold and convey property, real and personal, not exceeding thirty thousand dollars, and to have and use a common seal, to sue and be sued, plead and be impleaded, to make, alter and modify, from time to time, such by-laws and regulations as they may deem necessary for the government of said institute, its officers and employees: Provided, Such by-laws and regulations are not inconsistent with the constitution and laws of the United States or of this State. SEC. 2. Said institute shall be located in the village of Leoni, county of Jackson; and the said trustees may proceed in the erection of buildings upon a plan sufficiently extensive for the purposes of a thorough theological education. SEC. 3. At the first meeting of the trustees, after the passage of this act, they shall, by ballot, divide themselves into three classes of four members each; the term of office of the first class shall terminate at the session of the Michigan Annual Conference of the Wesleyan Methodist Connection, in the summer or fall of eighteen hundred and forty-eight, and their places supplied by an election of said conference. The second shall go out of office at the next session of said Annual Conference, and their places supplied in like manner; and so of the third; so that each year one-third of said trustees shall be elected by said Annual Conference. SEC. 4. The above named trustees, and their successors in office, may have power to fill vàcancies which may occur in their own body, by death, removal or resignation. They may also appoint from their own members, a president, secretary and treasurer, whose duties shall be prescribed in the by-laws of said institute. ́SEC. 5. Said board of trustees shall be in law capable of acquiring and holding, by purchase, gift, grant, devise or bequest, or otherwise, and of selling, conveying or leasing any estate, real, personal or mixed, for the use of said corporation, and for the interest of said institute, and no other, and shall be held liable for all debts as partners in trade, after the corporation property shall have been exhausted. SEC. 6. The Legislature shall have the power at any time of amending or repealing this act; also to demand of the trustees of said institute a statement of the amount of property, real and personal, belonging to the same. Approved March 25, 1848. [ No. 138. ] AN ACT to incorporate the Leoni Seminary. SECTION 1. Be it enacted by the Senate and House of Representatives of the State of Michigan, That Wilder B. Mack, Jacob Sagendolph, Aaron Rowe, Abel Scott, Andrew Brown, 2d, William Jackson, Benajah Bayne, Ira W. Kellogg, Mason Branch, Samuel Lapham, Jared Warner and Isaiah Raymond, of the State of Michigan, together with such other persons as may be associated with them, and their successors for that purpose, shall be and they are hereby consuted a body politic and corporate, by the name and style of the "Leoni Seminary," subject to the provisions relating to corporations, contained in chapter fifty-five of the revised statutes of eighteen hundred and forty-six, and such amendments thereof as may from time to time be made by the Legislature. SEC. 2. The trustees shall have power, and they are hereby authorized to establish in the village of Leoni, in the county of Jackson, an institution for the instruction of young persons in ancient or modern languages or literature, and the arts and sciences, and shall faithfully apply all funds received by them for that purpose, by subscription, bequest or otherwise, in providing suitable buildings, employing professors and teachers, procuring books, maps, philosophical and other apparatus, necessary or proper for the successful prosecution of study in said institution. SEC. 3. Said board of trustees shall be in law capable of acquiring and holding, by purchase, gift, grant, devise or bequest, or otherwise, and of selling, conveying or leasing any estate, real, personal or mixed, in value not exceeding the sum of twenty-five thousand dollars, for the use of said corporation, and no other, and shall be held liable for all debts as partners in trade, after the corporate property shall have been exhausted. SEC. 4. The institution shall be subject to visitation at any time by the Superintendent of Public Instruction; and the trustees shall annually, on or before the 20th day of October,, in each year, make to the Superintendent a full report of the literary and pecuniary condition of said institution. SEC. 5. This act shall take effect and be in force from and after its passage. |