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of their duties before some competent officer; and such appraisers shall then proceed to make a schedule, and upon actual view, to appraise the true value in money, of all such goods, chattels, lands and tenements, choses in action, rights, credits and subscriptions, as such applicants shall exhibit to such appraisers, and shall return such schedule, with their appraisement, and a certificate of some justice of the peace, or other officer authorized to administer oaths, that such appraisers were duly sworn by him to discharge their duties as such appraisers, to the auditor of the proper county, and if the amount so found shall be equal to the sum required for the commencement of any such institution as said applicants desire, such auditor shall give such applicants a certificate of the fact, and they shall enter it in a book of records, by them provided for that purpose, which, together with their corporate name and articles of association, they shall also cause to be recorded in the recorder's office of the county where such institution is, or is intended to be located; and they shall thenceforward be a body corporate and politic, according to the provisions of this act; and such auditor, appraiser and recorder, shall be entitled to the same fees as for like services in other cases, and no more.
Sec. 3. The corporators of any college or university which Trustees and may be organized in accordance with the provisions of this act, may elect from among their number, five or more tristces, who shall constitute à board of directors for such institution, and they shall have power to fill vacancies that may occur in their board, and shall hold their offices until their successors are elected and qualified, according to the rules and by-laws that may be adopted by the board of directors; and when any such institution, in its corporate name, shall have acquired five hundred dollars in real and personal property, to be ascertained as herein provided, said trustees shall have power to appoint a president, professors, tutors and teachers, and any other necessary agents and officers of the board of trustees, and fix the compensation of each; and may enact such by-laws, not inconsistent with the laws of this state, or of the United States, for the government of the institution, and for conducting the affairs of the corporation, as they may deem necessary; and shall have power to confer, on the recommendation of the faculty, all such degrees and honors as are conferred by colleges and universities of the United States, and such others, having reference to the course of study, and the accomplishment of the students, as they may deem proper.
Sec. 4. In case it should happen that an election for direc- Pailure to elect lors should not be held on the day appointed by the by-laws ed not to disof any institution or company formed under the provisions of elve. corpor this aet, such corporations shall not for that reason be deemed
Trustees to hold property.
to be dissolved, but it shall be lawful on any other day, to hold a meeting and elect its directors, in such manner as shall be prescribed by the by laws thereof.
Sec. 5. The trustees of any university, college, or academy, may hold in trust any property devised, bequeathed or donated to such institutions, upon any specific trust consistent
with the objects of said corporation. Paculty, and Sec. 6. The president and professors shall constitute the their powers. faculty of any literary college or university instituted under
the provisions of this act, and have power to enforce the rules and regulations enacted by the trustees, for the government and discipline of the students, and to suspend and expel offen
ders, as may be deemed necessary. Amount of cap SÉC. 7. When any number of persons shall have procured, ital requisite.
by subscription, donation, devise, purchase or otherwise, the sum of five hundred dollars, for the purpose of establishing and sustaining an academy, such persons may adopt a corporate name, and enter the same in the recorder's office of ihe proper county, and proceed to the election of such officers and teachers as they may deem necessary, and in their corporate name may sue and be sued, plead and be impleaded, in any court of law or equity of competent jurisdiction, and may have a corporate seal, may purchase and hold personal or real estate, and dispose of the same at pleasure, and do all other acts and things necessary for the promotion of educa. tion and the general interests of such academy.
Sec. 8. Any university, college, or 'academy, now instituder the provis- ted, may come under the provisions of this act by complying ions of this act. with the requisitions herein contained; and all such institu
tions now in existence, or that may hereafter be established, may connect therewith, to be used as a part of their course of education, any mechanical shops and machinery, or lands for agricultural purposes, not exceeding three hundred acres, to which may be attached all necessary buildings for carrying on the mechanical or agricultural operations of such institution.
Sec. 9. Any company which may be formed in pursuance increasod, when of this act, or which may now exist by virtue of any special
act of incorporation, the property of which is held as stock, and not derived by donation, gift, devise, or gratuitous subscription, may increase its capital stock, or change it into scholarships, when it becomes necessary for the purpose of carrying out the object for which such company or corporation is formed, in the following manner: The directors for the time being shall make out and sign a certificate, in which shall be set forth the amount to which such capital stock is to be increased, and the object; which certificate shall be deposited in the office of the recorder of the proper county, and be by him recorded in the same manner as the articles of asso
Stock may be
ciation and corporate name are by this act required to be recorded.
Sec. 10. Before the capital stock of any such company Notice of in. shall be increased, it shall be the duty of the directors to given. publish a notice, signed by at least a majority of them, in a newspaper of general circulation in the county in which said institution is located, at least four consecutive weeks, appointing a time and place for holding a meeting of the stockholders of said company, specifying the object of such meeting, and the amount to which it is proposed to increase the capital stock thereof; and a vote of at least two-thirds of the shares of the stock represented at such meeting, shall be necessary to an increase of its capital stock, and to authorize the directors to make and sign the certificate mentioned in the preceding section.
Sec. 11. Any university, college or academy, that may be-bility of stockcome a body corporate, under the provisions of this act, the holders. property of which is not derived by donation, gift, devise, or subscription, but is owned by individuals in the shape of stock subscribed or taken, the owner of said stock shall be individually liable for the debts of said corporation, to the amount of their said stock respectively; and also in a sum equal thereto, over and above the amount of their said stock; Provided, that the trustees or directors of any corporation organized under the provisions of this act, the property of which is not owned by individuals in the shape of stock subscribed or taken, but is held upon trust, or derived by devise, donation, gift or subscription, shall not contract any indebtedness beyond the actual means or assets of said corporation; and if said trustees or directors contract debts or incur liabilities be. yond the means or assets of said corporation, the trustees or directors so contracting, shall be held liable in their individual capacity for the payment of the same, but the property of said corporation shall first be exhausted.
Sec. 12. Any college, university, or other institution of Location, name, learning, now existing by virtue of any act of incorporation, changed. or that may hereafter become incorporated for any of the purposes specified in this act, may, if three fourths of the trustees or directors thereof deem the same proper, and if said institution is owned in shares, or by stock subscribed or taken, then by a vote of three-fourths of the stock or shareholders, change the location and name of such institution, convey its real estate, and transfer the effects thereof, and invest the same at the place to which such institution shall be removed; Provided, that no such removal shall be ordered, and no vote taken thereon, until after publication in the same as herein required for the increase of capital stock ; in which notice shall be fully set forth the name and location of the institution proposed to be removed, and the place to which
it is proposed to remove such institution; and provided also,
JAMES C. JOHNSON,
President of the Senate.
To prevent Fraudulent Practices.
As to false or fictitious bills of lading.
Sec. 1. Be it enacted by the General Assembly of the State of Ohio, That if any person shall execute and deliver, or shall cause or procure to be executed and delivered to any person, any false or fictitious bill of lading, receipt, schedule, invoice, or other written instrument, to the purport or effect that any goods, wares or merchandize, had been or were held, delivered, received, placed or deposited, on board of any steamboat or water craft, navigating the waters in or bordering upon the State of Ohio, when such goods, wares, and merchandize were not held, or had not in fact and in good faith been delivered, received or deposited on board of such steamboat or other water craft, when such billof lading, receipt, invoice, schedule or written instrument was made and delivered according to the purport and effect of such bill of lading, receipt, invoice, schedule or written instrument, with intent to injure, deceive, or defraud any person whomsoever, or if any person shall endorse, assign, transfer or put off, or shall attempt to endorse, assign, transfer or put off, any such false or fictitious bill of lading, receipt, invoice, schedule, or other written instrument, knowing the same to be false, fraudulent or fictitious, the person so oftending shall be deemed guilty of a misdemeanor, and on conviction thereof, shall be imprisoned in the penitentiary, and kept at hard labor, for a term not exceeding four years, nor less than one year.
Sec. 2. If any person shall execute and deliver, or shall tious warehouse cause or procure to be executed and delivered to any other elty for issuing. person, any false and fictitious warehouse receipt, acknowl
edgment, or other instrument of writing, to the purport and
Falso or ficti.
ring or trade
or held or had received in any warehouse, or in any other place, or held or had received into possession, custody or control, of such person or persons, copartnership, firm, or body politic, any goods, wares or merchandize, when such goods, wares or merchandize were not held or had not been received in good faith, according to the purport and effect of such warehouse receipt, receipt acknowledgement, or instrument of writing, with intent to defraud, deceive, or injure any person whomsoever, or if any person shall endorse, assign, transfer or deliver, or shall attempt to endorse, transfer and deliver to any other person any such false and fictitious warehouse receipt, receipt acknowledgement, or instrument of writing, knowing the same to be false, fraudulent, or fictitious, such person shall be deemed guilty of a misdemeanor, and on conviction thereof shall be punished by imprisonment in the penitentiary, and kept at hard labor, for a term not more than three years, nor less than one year.
Sec. 3. That if any person or persons, or the agent of any Penalty for sto. person or persons, having in his or their possession, custody ferring goods, or control, any goods, wares or merchandize, by virtue of any lent assignment genuine instrument of writing, of the purport or effect of any such instrument of writing as is mentioned in the first or second sections of this act, shall, without authority, and with intent to injure or defraud the rightful owner thereof, sell, assign, transfer or encumber such goods, wares or merchandize, or any part thereof, to the value of fifty dollars or upwards, or shall in any way convert the same to his own use, or if the consigner or consigners, or the agent of such consigner or consigners of any goods, wares or merchandize, not being the absolute owner thereof, and not having authority to stop, countermand or change the consignment thereof, or not having authority to sell or encumber the same during the transit, shall, after the shipment thereof on board any water craft, or after the deposit thereof in or upon any vehicle for land carriage, in any way stop, countermand or change the consignment thereof, or shall sell,
dispose of or encumber such goods, wares or merchandize, during their transit, or after their delivery, or shall in any way convert the same, or any part thereof, to his or her own use, to the value of fifty dollars or upwards, so that the rightful owner thereof shall sustain a loss thereby to the value of fifty dollars or upwards, the person so offending, with intent as aforesaid, shall be deemed guilty of a misdemeanor, and on conviction thereof, shall be imprisoned in the penitentiary, and kept at hard labor, for a term not less than one, nor more than four years. SEC. 4. That the ninth and tenth sections of the act enti- Sections of for
mer acts repeal. tled an act to prevent fraudulent practices, passed the 12th ed. day of March, 1844, and the first section of an act entitled an aci to amend the act entitled an act to prevent fraudulent