Corporate name. Corporate pow ers. Corporate pow ers. Corporate objects. May sell, &c., real estate. Liability for debts. Directors. President. Board of direc tors. Constitution, &c. Members. sors, be and they are hereby made, constituted and declared a corporation and a body politic and corporate under the name and style of "The Young Men's Christian Association of Winston, North Carolina," and by that name and style they shall have a common seal, and shall be capable in law to sue and be sued, plead and be impleaded in all the courts of this state. SEC. 2. That said association shall have power and be capable in law to lease, purchase, take and receive by deed, gift or devise and hold in fee simple or other less estate all manner of lands, rents, annuities and other hereditaments not to exceed one hundred thousand dollars; and shall further be able to take, receive and possess all moneys, books, goods and chattels which have been or which may hereafter be given, sold, released, bequeathed or in any way transferred by any person or persons to said association or to any one for its use. SEC. 3. That all such lands, tenements, rents, annuities and other hereditaments, moneys, books, goods and chattels of whatsoever kind, nature or quality, the said association shall hold, possess and use for the improvement of the spiritual, mental, social and physical condition of young men in such manner and by such means as said association shall adopt and provide by by-laws, ordinances and regulations. SEC. 4. That said association shall be able and capable in law, by and with the consent of the board of directors hereby created, to bargain, sell, grant, convey, mortgage and encumber to any other person or persons all such lands, tenements, rents, annuities and other hereditaments which it now owns or may hereafter acquire for the uses and benefit of said association; but said land and real estate shall not be liable for any future debt or obligation of said association, unless the same shall have been contracted with the approval of said board of directors. Said board of directors shall be composed of ... members, each of whom shall be a member of one of the Protestant evangelical denominations, but not more than three shall be mem bers of any one denomination, and the president of this association for the time shall be one of such directors. J. F. McCuisten, R. B. Glenn, C. J. Watkins, J. W. Hanes, J. L. Vaughan, R. D. Brown, J. E. Coles, T. J. Brown, F. B. Efied, W. S. Clary, E. E. Gray, R. H. Jones, J. B. Whitaker, Jr., and W. J. Conrad, together with said president, are hereby created such board of directors, and whenever a vacancy shall occur by death or otherwise in said board of directors the same shall be filled by a majority vote of those remaining. SEC. 5. That said association is hereby authorized and empowered to make, ordain and establish a constitution, by-laws, ordinances and regulations for the government of said association, its members and business affairs; they shall have power to elect in such manner as they may decide such persons as they may desire to be members of said association and prescribe the requirements for membership; they SEC. 6. That this act shall be in force from and after its ratification. CHAPTER 349. An act to incorporate the Onslow Land and Improvement Company. The General Assembly of North Carolina do enact: SECTION 1. That R. W. Ward, S. B. Taylor, Thomas E. Gilman, Incorporators. L. L. Alexander, Natt Atkinson, E. Porter, W. W. Miller, W. T. Dortch, Bruce Williams, J. D. Bellamy, junior, Richard S. Daniels, B. L. Banks, E. B. Harget, Julian A. Mattock and Thomas McGwin, and their associates, successors and assigns, be and they are hereby created and constituted a body politic and corporate under the name ers. and style of the "Onslow Land and Improvement Company," and Corporate name. shall be able and capable in law to have and use a common seal, and the same alter and renew at pleasure; to sue and be sued, to plead Corporate powand be impleaded; and are hereby made capable and able in law to have, purchase, receive, take, hold, possess, enjoy, manage and retain to them and their successors lands, tenements, hereditaments, stocks, goods, chattels and effects of whatever kind, nature or quality, whether real, personal or mixed, by gift, grant, demise, bargain or sale, devise, bequest, testament, legacy, loan, deposit or advance, or by any other mode of transfer or conveyance whatsoever, and the same to give, grant, bargain, sell, devise, convey, assure, transfer, alien, pay, release and dispose of for the whole or any less estate or property than they have in the same, and also to improve and aug. ment the same in such manner and form as the said company by its by-laws and regulations shall direct; and shall and may apply the rents, issues, incomes, interest and profits of such estate, and the Capital stock. Books of subscription. Organization. Non-liability of stockholders for corporate debts. Place of business. money arising from the sale, alienation, disposal or employment thereof to the use, ends and purposes of their creation, according to the rules, regulations and orders of the company, as fully and effectually as any natural person or body politic or corporation within this state can or may do or perform. The said company shall have power to make, ordain, establish and put in execution such by-laws, ordinances and regulations as shall to it hereafter seem meet or convenient for its government, not being contrary to the laws of this state; and to do and execute all and singular such acts, matters and things which to the said corporation shall or may appertain and be necessary for the purposes thereof. SEC. 2. The capital stock of said corporation shall be one hundred and fifty thousand dollars, which shall be divided into one thousand five hundred shares of one hundred dollars each, which said capital stock may be increased at any time by the vote of a majority of the stockholders to any sum not exceeding three hundred thousand dollars. SEC. 3. That for the purpose of creating the capital stock of said company, the persons named in the first section of this act or any three of them may open books of subscription at such places and time as they may deem expedient, and under such rules as they may prescribe. SEC. 4. When the sum of seventy-five thousand dollars shall have been subscribed to the capital stock of said company in lands, money, bonds or personal property a general meeting of the stockholders shall be called by the persons opening the books of subscription after due notice of such general meeting; a majority of the stock subscribed being present, or represented either in person or by proxy, shall have power to appoint a board of seven directors and such other officers as they may desire, and to do and perform all other acts and things necessary for their organization as a company, and to carry into effect the objects of this charter and to continue its operations under the provisions thereof. SEC. 5. The corporators and stockholders of said company and their successors and assigns shall not be individually or personally responsible for any of the debts, obligations, contracts or torts of the company, and the shares shall be forever non-assessable. SEC. 6. The principal place of business of this corporation shall be at Jacksonville in Onslow county, North Carolina, with power for a majority of the board of directors to change the same or have other places of business in this state as the interest of the stockholders may require. SEC. 7. That this act shall be in force from and after its ratification. CHAPTER 350. An act to charter The Bank of Maxton. The General Assembly of North Carolina do enact: ence. ers. SECTION 1. That J. C. McCaskill, J. W. Carter, A. J. McKimmon, Incorporators. R. W. Livermore, M. McRae, John Leach, J. F. L. Armfield and T. B. Pace, and their associates, successors and assigns, be and they are hereby created and constituted a body politic and corporate under the name, style and title of "The Bank of Maxton," and by that name Corporate name. shall have succession for sixty years and shall be able and capable in Corporate existlaw to have and use a common seal and the same break, alter and renew at pleasure; to sue and be sued, to plead and be impleaded, and Corporate pow. are hereby made able and capable in law to have, purchase, receive, take, hold and possess and enjoy and retain to them and their successors, land, rents, tenements and hereditaments, stock, goods, chattels and effects of whatever kind, nature or quality, whether real, personal or mixed, by grant, gift, demise, bargain and sale, devise, bequest, testament, legacy or loan, deposit or advance, or by any other mode of conveyance or transfer whatever, and the same to give, grant, bargain, sell, devise, convey, assure, transfer, alien, pay, release and dispose of for the whole or any less estate or property than they have in the same; and also to improve and augment the same in any manner and form as the said "Bank of Maxton" by its by-laws and regulations shall direct, and shall and may apply the rents, issues and incomes, interest and profits of such estate, and the moneys arising from the sale, alienation, disposal or employment thereof to the uses, ends and purposes of their creation and institution according to the rules, regulations and orders of the company as fully and effectually as any natural person or body politic or corporate within this state can or may do or perform. The said Bank of Maxton shall have power to make, ordain, establish and put in execution such by-laws, ordinances and regulations as shall to it hereafter seem meet or convenient for the government of such corporation, not being contrary to the constitution and the laws of this state or of the United States, and generally to do and execute all and singular such acts and matters and things which to the said corporation shall or may appertain and be necessary for the purposes thereof. SEC. 2. That said corporation shall have the right to receive and Corporate powpay out the lawful currency of the country, deal in exchange, gold and silver coin, stocks, bonds, notes and other securities; to loan money to or receive deposits from any and all persons, firms, associations and corporations, including apprentices, minors and femes covert or other persons, on such terms and time and manner of collection and payment as may be prescribed by this charter or by the by-laws, ers. Corporate pow ers. Corporate powers as trustee. Deposits by flduciaries. or as may be agreed on by the parties; and for the use and loan of money may charge not exceeding eight per centum per annum, and may take and receive said interest at the time of making said loan or otherwise free from all other control, contract or liability whatever; to invest in the stocks, bonds or other securities of this or any other state or territory or of the United States or of any corporation organized under the laws of this state or any other state or the United States; and to take such real, personal or mixed property upon such terms, trusts and conditions for the security and payment of money loaned, advanced or expended as may be considered safe, expedient and beneficial; to elect such officers as they see fit and prescribe their duties, compensation and terms of service. SEC. 3. That said corporation shall be and is hereby authorized and empowered to receive and keep on deposit all such valuables, gold, silver and paper money, bullion, precious metals, jewels, plate, certificates of stock, bonds, notes, evidences of debt, deeds, muniments of title or any other valuable papers of any kind or any other article or thing whatsoever which may be left deposited for safe keeping with said bank, and shall be entitled to charge, demand and receive such commission or compensation therefor as may be agreed upon; and for the complete preservation and safe keeping thereof may construct, erect and purchase such fire and burglar-proof building, vaults, iron or composition safes or other means which may be or become necessary, and generally to transact and perform all business relating to such deposit and safe keeping and preservation of all such articles or valuables as may be deposited with said bank, and also to invest the capital or funds as may be deposited with said bank for that purpose from time to time in such stocks, bonds and securities as may be regarded advantageous and desirable; they shall have power to receive and hold on deposit and in trust and as security estate, real, personal or mixed, including notes, bonds, obligations of state, municipalities, corporations, companies and individuals, and the same to purchase, collect, adjust, settle, sell and dispose of and upon such terms as may be agreed upon [by] them and the parties contracting with them. SEC. 4. That said bank shall also have power and authority to accept and execute trusts of any and every description which may be committed or transferred to them with their consent by any person or persons whomsoever, corporations, or by any court in this or any other state or territory or of the United States, and for its services as such said corporation shall receive such usual and customary fees, emoluments and charges as are allowed individuals in like capacities and like cases. SEC. 5. That any executor, administrator, guardian, receiver or other trustee, or public officer, having the care, custody or control of any bonds, stocks, securities, moneys or other valuables whatever, |