Amount due each person auditor. shall certify the amount due each person to the auditor of the proper county, and said auditor shall draw orders for the to be paid by payment of such amount out of the county treasury; provided, that any person interested may pay the amount of the purchase money to said county commissioners, at any time before the same is charged on the duplicate, to be paid by said commissioners to the purchasers of such section or sections respectively. Power of commissioners in keeping channel open. SEC. 12. The county commissioners shall have the same power to keep the natural channel of any living stream or streams of water in any county in this state free and clear of all drifts, timber, or other obstructions, in the same manner as is provided in this act for clearing the same; provided, that nothing in this act shall be construed to interfere with any mill-dam or water-works already constructed, or to be constucted. on any stream or streams in this state, or the placing of flood-gates across any such stream, but such floodgates shall be made in such manner as not to materially obstruct the passage of water in any such stream or streams. SEC. 13. That the act passed March 4, 1869, giving the township trustees power to remove drift timber, and other obstructions from the natural channel of streams, and to protect lands from overflow, be and the same is hereby repealed. SEC. 14. This act to take effect and be in force from and after its passage. C. H. GROSVENOR, Speaker of the House of Representatives. Passed February 22, 1877. Charter for savings, etc., may continué after expiration of char ter in certain cases. To have a surplus fund of five per cent., etc., of amount of deposits--be fore divi dends declaired. AN ACT To extend the charters of societies for savings. SECTION 1. Be it enacted by the General Assembly of the State of Ohio, That "societies for savings" and "savings societies," now doing business, whose charters are subject to alteration. or repeal, may continue their business under their respective charters, after the expiration thereof, subject, however, to the repeal of any such charter and to such amendments, alterations, rules, and regulations as may be prescribed, from time to time, by any laws of the state. SEC. 2. That before any dividend or interest on deposits shall be paid, it shall be the duty of such societies to have a surplus fund equal to not less than five percentum of the whole amount of deposits; and it is made the duty of such societies to gradually increase such surplus fund to an amount equal to ten percentum of the amount of deposits. SEC. 3. That it shall be the duty of the president and treasurer of each and every society to make during the month of June, annually, in writing, to the auditor of state, an accurate statement of the financial affairs of said societies, and the auditor of state shall cause the same to be investigated and examined by two suitable persons, appointed by said auditor of state, who shall, within a reasonable time, report to said auditor of state the result of said investigation and examination, with such suggestions as to them may seem right and proper. The report of the president and treasurer, with the report of the examiners or such portion of the same as the auditor of state may deem advisable, shall be published in some newspaper printed and having general circulation within the county as directed by the auditor of state. The auditor of state shall allow said examiners a reasonable compensation for their services, and such compensation with the cost of publication shall be paid by said societies. SEC. 4. That this act shall take effect from and after its passage. O J. HODGE, Passed Pebruary 15, 1877. President of the Senate. AN ACT Supplementary to an act entitled "An act to provide for the creation and regulation of incorporated companies in the state of Ohio," passed May 1, 1852 [S. & vol. 1, p. 276], and re-enacted by section three of an Act entitled an act to provide for and regulate street railroad companies, passed and took effect April 10, 1861. [S. & S., p. 134.] SECTION 1. Be it enacted by the General Assembly of the State of Ohio, That section three of the above recited act, passed May 1, 1852, be amended so as to read as follows: Section 3. That sections five, six, seven, eight, and fourteen of an act entitled "An act to provide for the creation and regulation of incorporated companies in the state of Ohio," passed May 1, A.D. 1852, are adopted and made to be a part of this act: provided, that where the words "action of debt" are used in said act, the same shall be taken and construed to be civil action; and that where public notice is required to be given, the same shall be by publication in a newspaper published in the city, town, or village where the street railroad, or one part and terminus thereof, shall be located; and that such companies may borrow money at a rate of interest not exceeding eight per cent. per annum, and may execute a deed of mortgage, or other instrument of writ Action of debt and public notice required. Companies may borrow money, etc. ing, to secure the payment of the loan of money so made, or the notes, bonds, or other evidences of indebtedness, that may be so issued therefor, which said mortgage or other instrument of writing, may include the personal as well as the real property, and the franchises, including the franchise of being a corporation, of said company. Said mortgage, or other instrument of writing, shall be recorded in the office of the recorder of the county in which said railroad is located. Books to be SEC. 2. That the persons named in said certificate of inopened for corporation, or any three of them, shall be authorized to orsubscription. der books to be opened for receiving subscriptions to the capital stock of said company, at such time or times, and at such place or places, as they may deem expedient, after having given at least thirty days' notice in a newspaper published or generally circulated in one or more counties where books of subscription are to be opened, of the time or place of opening books; and so soon as ten per centum on the capital stock shall be subscribed, they may give like notice for the stockStockholders holders to meet, at such time and place as they may designate, for the purpose of choosing not less than three nor more than seven directors, as may be determined by the stockholders of said company, who shall continue in office until the time fixed for the annual election, and until their successors are chosen and qualified. At the time and place appointed, the directors shall be chosen by ballot, by such of the stockholders as shall attend for that purpose, either in person or by lawful proxy. Each share shall entitle the owner to one vote, and a plurality of votes shall be necessary for a choice; but after the first election of directors, no person shall vote on any share on which any installment is due and unpaid. meeting to elect direct ors. Inspectors of election. The persons named in such certificate, or such of them as be present, shall be inspectors of such election, and cermay tify what persons are elected directors, and appoint the time and place for holding their first meeting. A majority of said directors shall form a board and be competent to fill vacancies in their board, make by-laws, and transact all business of the corporation. A new election shall be annually held for directors, at such time and place as the stockholders, at their first meeting, shall determine, or as the by-laws of the corporation may require; and the directors chosen at any election shall, so soon thereafter as may be convenient, choose one of their number to be president, and shall appoint a secretary and treasurer of the corporation. The directors, before entering on their duties, shall each take an oath or affirmation faithfully to discharge his duties; and they shall, from time to time, make such dividends of the profits of said company as they may think proper. SEC. 3. That said section three be and the same is hereby repealed, and this act shall take effect and be in force from and after its passage. C H. GROSVENOR, Speaker of the House of Representatives. President pro tem. of the Senate. Passed February 21st, 1877. AN ACT Appropriating money to increase the capacity for gas manufacturing at the Ohio penitentiary, and for other purposes. SECTION 1. Be it enacted by the General Assembly of the State of Ohio, That there be and hereby is appropriated out of any money in the treasury to the credit of the asylum fund, and not otherwise appropriated, the sum of eighteen thousand dollars, for the construction of additional machinery for the manufacture of gas at the Ohio penitentiary, and for the purpose of purchasing and laying a pipe from said gas works to the state house. SEC. 2. There is hereby further appropriated from said fund the sum of twenty-five thousand dollars, for the purpose of purchasing material and paying for labor in the construction of new cells in the penitentiary: Provided no money herein appropriated ahall be applied to the construction of cells not already authorized by law. SEC. 3. This act shall be in force from and after its passage. C. H. GROSVENOR, Speaker of the House of Representatives. Passed February 1st, 1877. President of the Senate. Appropria tion for addi tional mathe manufa chinery for ture of gas at Ohio Pen tentiary. Twenty-five dollars for new cells, etc. Proviso. thousand AN ACT To amend section forty-eight of the act entitled "An act to establish a code of civil procedure," passed March 11, 1853. (S. & C., Swan's R. S., 632.) Passed and took effect April 16, 1867, 64 vol. stat., 230. (Swan and Sayler, page 541). SECTION 1. Be it enacted by the General Assembly of the State of Ohio, That section forty-eight of the above recited act be amended so as to read as follows: Section 48. An action other than one of those mentioned in the first three sections of this chapter, against a corporation created by the laws of this state, may be brought in the Action may be brought in county in certain cases. Section repealed. county in which it is situated, or had its principal office or place of business, but if the corporation be an insurance company, the action may be brought in the county where the cause of action, or some part thereof arose. SEC. 2. That said amended section forty-eight of the above recited act be and the same is hereby repealed. SEC. 3. This act shall take effect and be in force from and after its passage. C H. GROSVENOR, Speaker of the House of Representatives. Passed February 15th, 1877. President of the Senate. Township agricultural associations deemed corporations in certain cases. AN ACT To amend an act passed May 1, 1861, entitled "An act to provide for the creation and regulation of township agricultural societies." SECTION 1. Be it enacted by the General Assembly of the State of Ohio, That section 1 of the above recited act be so amended as to read as follows: Section 1. That when any number of natural persons of any township in the State of Ohio shall form an association for the promotion of agriculture in such township, and shall, under their hands and seals, make a certificate and acknowledge the same before a justice of the peace, in which shall be specified the name of the society, the objects of its formation, and the township in which it shall be located, and shall record the same in the recorder's office of the proper county, such society shall be deemed a body corporate, with succession, and with power to sue and be sued, plead and be impleaded, defend and be defended, contract and be contracted with; to make and use a common seal and the same to alter at pleasure; and shall have power to purchase and hold in fee simple, or to rent or lease such estate as may be required as a site for holding fairs, not exceeding forty acres, and to establish all necessary rules and regulations for the management of such fairs and the legitimate business of the society. SEC. 2. That section one of the above recited act be and the same is hereby repealed. SEC. 3. That this act take effect from and after its passage. Speaker of the House of Representatives. Passed February 11, 1877. President of the Senate. |