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![handle is hein.slavery/ssactsal0472 and id is 1 raw text is: 486 88~'4
.2 S ~ fi XneZ' ;i fisttr eadd'hat t,\ q hserl of -
the county of Madison shall, and it iheb made d t of serur.
duty, ,to' hold said election, and to leep aegtter of A
pbrsons votiig in favor of and against said a bscriptioi or
aubscriptions made 'as 'dontemplated i the first sectioin f
thi act; .and if it shall appear that amajoriy f persons
voting at'said election are in favor of said subscriptioh 'or
subscriptions, and the same shall be ratified by said mayor
and aldermen thereafter, then said subscription or, stibscrip.
tiois, madeaas aforesaid, shall be legal and binding on said
corporation, and not otherwise.
APPROVEli, February 7, 1854.
[No. 52i.] AN ACT
To incorporate the Eufiula Insurance Company.
SECTION 1. Be it enacted by the Benate and House of R-)
resentatives of the State of Alabama in General Assembly 'con-
vened, That John McNab, Edward 13. Young, John N
Copeland, John Hart, E. S. -Shorter, John Cochran' and corporators.
Clayton B. Woods, and such others as may be associated
with them for that purpose, and their successors, are hereby
created a body politic anfd corporate by the name of the Eu-
faula Insurance Company; and by that iarneshall be capable
of suing and being sued in all the courts of this state; of pur-
chasing, holding andconveying property of all'descriptions;
to make, bave and use a common sea], and the same to alter
and renew at pleasure, and generally to do- any act he-
cessary to carry into effect the objects of the 6orporation
not inconsistent with the laws of this state or of the United
States.
SEC. 2. Be it jhrther enacted, That the capital stock 'of capital stock.
this corporation shall be'one hundred thousand 'dollars, to
be divided into one thousand shares of one hundred dollars
each, and the same to be paid in manner following': fifteen
dollars on each share at the time of subscription, and the
residue when the president and directors may direct,' which
capital stock may hereafter be increased to any' amount not Increase of capi-
exceeding five hundred thousand dollars, in such manner tal stock.
as the' president and directors may determiiie; the said
stock shall be deeied and held as persohal property, and
if any stockholder shall neglect and refuse 'to make payment
as required, his stock may be sold by order of the president'
and directors, and such stockholder shall be :lihible for the](ViewImageLocal?handle=hein.slavery/ssactsal0472&div=1&collection=&method=preview&ext=.png&size=3)