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The General Assembly of North Carolina do enact: Section 1. That Goodridge A. Wilson, Thomas B. Thompson, Nelson D. York, James T. Dick and John H. Fowler, and their successors, shall be and they are hereby declared a body politic and corporate in deed and in law, by the name and style of "The Trustees of Mebane Academy," of Mebane, Alamance County; and the said corporation shall have power to purchase and hold real and personal estate and to acquire the same by gift or otherwise, and convey the same; shall have perpetual succession and sue and be sued, plead and be impleaded in any court of the state having competent jurisdiction, and have and use a common seal, and have power to elect such officers as they deem necessary. Sec. 2. That in case of death, or from any other cause, there becomes a vacancy, the remaining trustees shall have power to fill the same. Sec. 3. That the capital stock of said corporation shall be one thousand dollars, but may be increased to ten thousand dollars by a vote of a majority of the stockholders of said corporation. Sec. 4. That the said body politic and corporation [corporate] shall have power to make such by laws and regulations not inconsistent with the laws of the state or the United States as shall be deemed necessary to promote the objects of the corporation. Sec. 5. That this Act shall be in force from and after its ratification. Ratified the 14th day of February, A.D. 1891. Daniel G. Fowle, Governor State of North Carolina, Octavius Coke, |
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