North Carolina - Acts on Education Topics

An Act to Incorporate the Fayetteville School Association Company.

1815 - Chapter XXXVII

The Laws of North Carolina of 1815 - Page 26

Be it enacted by the General Assembly of the State of North Carolina, and it is hereby enacted by the authority of the same, That William Terry, Thomas Hearn, Edmund Blake, Eli Terry and Henry Branson, or a majority of them, shall be, and they are hereby appointed commissioners to open books of subscription for the sum of ten thousand dollars, for the use of the Fayetteville School Association Company, in shares of twenty-five dollars each, and as soon as one thousand dollars of the above sum is subscribed, to the School into operaation, there shall be a meeting of the stock holders, and on the last Friday in June in each and every year thereafter, there shall be an annual meeting of the said stock holders for the purpose of electing five trustees, and to transact all other business that may be necessary for the good of the School, at which meeting each stock holder shall have a vote for each share which he holds.

II. And be it further enacted, That the stock shall be transferable by assignment, which shall be registered in the books of the company by their secretary, and the trustees shall from time to time employ one or more teachers, as they or a majority of them may deem proper for the benefit of said School.

III. And be it further enacted, That the subscribers of the said School, their successors or assigns, be and they are hereby created a body politic or corporate, in law and in fact; by the name and style of the Fayetteville School Association Company, and by trhe name and style aforesaid, shall be able and capable in law to have, purchase and possess such lands and tenements, as may be necessary for the School, not exceeding in value twenty thousand dollars; and the same to sell, grant, demise or dispose of, to sue and be sued, plead and be impleaded, answer and be answered and be defended, in any courts of record in this state.

Read three times and ratified in General Assembly,
this 21st Day of December, A.D., 1815
A Copy - William Hill, Secretary

John Branch, Speaker of the Senate
John Craig, Speaker of the House of Commons

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