North Carolina - Acts on Education Topics

An Act to Incorporate the Concord Female Academy.

1887 Private Laws: Chapter 2

Private Laws of the State of North Carolina Passed in 1887 - Pages 778-780.

The General Assembly of North Carolina do enact:

Section 1. That Elam King, R. W. Allison, D. F. Cannon, J. W. Cannon, P. B. Fetzer, A. B. Young, W. G. Means, W. R. Odell, J. M. Odell, C. G. Montgomery, Wm. M. Smith, D. R. Hoover, G. M. Lore, J. S. Fisher, R. A. Brown and their associates and their successors, are hereby created a body corporate and politic by the name and style of the "Concord Female Academy," for the purpose of maintaining a non-sectarian school in the town of Concord, Cabarrus County, North Carolina, for white females; and if the stockholders shall at any time by a majority of stock so declare, for white males, not over the age of twelve years; and by such name may acquire, hold and convey real and personal estate, may sue and be sued, plead and be impleaded in any of the courts of this state, to contract and be contracted with, and to enjoy any and every right and privilege incidental and belonging to corporate bodies according to the law of this state.

Sec. 2. The officers of this corporation shall be a president, vice-president, secretary and treasurer, to be elected annually by the stockholders of said corporation on the first Monday of June of each year in the manner hereinafter provided. The first election under this section shall be held on the first Monday of March, eighteen hundred and eighty-seven, and the officers then elected shall hold office till the first Monday of June, eighteen hundred and eighty-seven.

Sec. 3. The stockholders of said corporation shall elect nine trustees for the following terms: Three for the term of three years, three for a term of two years, and three for a term of one year. The first election to be held on the first Monday of March, eighteen hundred and eighty-seven, and at the expiration of their respective terms their successors shall be elected, each for a term of three years, by the stockholders at their annual meeting.

Sec. 4. In the election of officers and trustees above provided for, and in all matters of business, every white person owning fifty dollars of stock in said "Concord Female Academy" shall be entitled to one vote, and one vote for every fifty dollars owned, and the officers of the corporation are hereby authorized to issue certificates of stock to all persons owning stock in said corporation, fifty dollars to constitute a share. The certificates shall be signed by the president and secretary.

Sec. 5. There shall be an annual meeting of all the stockholders of the "Concord Female Academy'" on the first Monday in June and at such other times as a majority of the stock may appoint, at which meeting or meetings all regulations that may be deemed necessary for the welfare of said female academy may be made.

Sec. 6. A majority of the stock of the corporation shall constitute a quorum for the transaction of business.

Sec. 7. The president shall preside at the meetings of the stockholders, and in his absence the vice-president shall preside; the secretary shall keep the records of the meetings, and the treasurer the funds of the company; and the officers aforesaid shall have full power to represent the corporation in all things, subject to the rules and regulations the stockholders may make.

Sec. 8. It shall be the duty of the trustees to hold annual meetings or as often as they deem necessary, to attend to all matters entrusted to them by the stockholders, and to make report of all their transactions to the company at its annual meetings, and to enforce the rules and regulations prescribed in section five.

Sec. 9. The said corporation shall have a seal.

Sec. 10. That the stockholders shall not be individually liable for the debts of the corporation.

In the general assembly read three times, and ratified this the 14th day of January, A.D. 1887.

Alfred M. Scales, Governor
Charles M. Stedman, Lt. Governor and President of the Senate
Thomas M. Holt, Speaker of the House of Representatives

State of North Carolina,
Office Secretary of State,
Raleigh, May 31st, 1887.

I, William L. Saunders, Secretary of State, hereby certify that the
foregoing are true copies of the original (manuscript) acts and reso-
lutions on file in this office.

William L. Saunders,
Secretary of State.

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