Chap. 233.—An ACT to Amend and Re-enact Section Four of Chapter
Sixty-Five of the Code of 1860, in Relation to Incorporations by Circuit
Courts.

Approved July 9, 1870.

1. Be it enacted by the general assembly, That the fourth
section of chapter sixty-five of the Code of eighteen hundred
and sixty, be amended and re-enacted so as to read as follows:

Ҥ 4. Any five or more persons who shall desire to form a
company for the conduct of any enterprise or business, which
may lawfully be conducted by private individuals, may
make, sign, and acknowledge before any justice of the peace
or notary public, a certificate in writing, setting forth the name
of the company, the purposes for which it is formed, the capi-
tal stock and its division into shares, the amount of real estate
proposed to be held, the place in which the principal office is
to be kept and the chief business to be transacted, and the
names and residences of the officers who, for the first year, are
to manage the affairs of the company. This certificate may
be presented to the circuit court of the county or city in which
the principal office of the company is to be located, or to the
judge thereof in vacation. The said court or judge shall have
a discretion to grant or refuse to said persons a charter of in-
corporation upon the terms set forth in the said certificate, or
upon such other terms as may be adjudged reasonable. Ifthe
charter be granted, it shall be recorded by the clerk of the
said court in a bodk to be provided and kept for the purpose,
and shall be certified by said clerk to the secretary of the
commonwealth, to be in like manner recorded in his office;
and thereafter, the court may, upon proper notice to the par-
ties, alter or amend said charter; and such alteration or amend-
ment shall be recorded by said clerk as hereinbefore provided
for recording charters.”

2. All acts or parts of acts inconsistent with this act are
hereby repealed.

3. This act shall be in force from its passage.