North Carolina - Acts on Education Topics

An Act to Incorporate a Male and Female Academy in the Town of Charlotte, in Mecklenburg County.

1821 - Chapter L

The Laws of the State of North Carolina 1821 - Pages 45-46.

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 Williaim Davidson, John Irwin, William Smith, Robert McKensea, Robert I. Dinkins, David R. Dunlap, Thomas G. Polk, James Dinkins, William B. Porter, Samuel Neale, Henry Hoover, Guy Maxwell, Jonathan Harris, John Patterson, William Craig, Miles J. Robinson, Joseph Wilson, George Graham, Matthew Wallis, John Dow, Joab Alexander, Michael McLeary, William Carson, John Rea and Augustus Alexander, and their successors in office, are hereby incorporated Trustees to purchase land, and to erect and establish a Male Academy and a Female Academy in the town of Charlotte, Mecklenburg County, to be known and distinguished by the names ol Liberty Male Academy and Charlotte Female Academy; and the said Trustees, or any ten of them, are hereby authorized and empowered to open subscriptions for stock not exceeding thirty thousand dollars, to be subscribed in shares of one hundred dollars each, for the purpose of erecting and maintaining said institutions; and, when, in the opinion of the said Trustees, or their successors in office, a sufficient sum is obtained, they are hereby invested with full power and authority to sue and be sued, plead and be impleaded, and to have perpetual succession and a cominon seal, and to make all rules, regulations, and restrictions for the management of the said institutions: and in case any of the said Trustees shall die, resign or remove out of the county, or refuse to act, then the majority of the said Trustees, or any ten of them, have hereby full power and authority to appoint others, so as to keep their number complete, from time to time, as the same shall become necessary; and should any profits arise from the stock subscribed after the Academies are erected, the same shall be divided among the Stockholders, in proportion to the Stock subscribed and paid by each respectively; and that the Trustees and their successors shall cause dividends to be made annually after the Academies are completed: Provided, nothing herein contained shall be construed, to allow the said corporation to employ its funds to any banking purposes whatever.

Read three times and Ratified in General Assembly
the 26th day of December, A.D. 1821

Gabriel Holmes, Governor
James Mebane, Speaker of the House of Commons
Bartlett Yancey, Speaker of the Senate

A true copy - William Hill, Secretary

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