North Carolina - Acts on Education Topics

An Act to Incorporte and Establish the Asheville [Military] Academy.

1887 Private Laws: Chapter 71

Private Laws of the State of North Carolina Passed in 1887 - Pages 917-918.

The General Assembly of North Carolina do enact:

Section 1. That Samuel Frederick Venable and W. Pinckney Mason, their successors, associates and assigns, be and they are hereby declared a body politic and corporate, by the name and style of the "Asheville Military Academy," and by such name may sue and be sued, plead and be impleaded, have perpetual succession and a common seal, contract and be contracted with, purchase and hold real and personal property, for the use and benefit of said academy, and may sell and dispose of such property or mortgage the same in order to raise money to carry on such schools as said corporation may in their discretion organize, establish and conduct, or cause to be organized, established or conducted. And the said corporation is hereby authorized and empowered to organize, establish and conduct, or cause to be organized, established or conducted, such schools, of such grades and for such purposes as in their discretion they may see proper, and may at any time change the character and grade of such schools in any manner that to said corporation may seem best.

Sec. 2. That any member of said corporation owning or possessing any interests in the franchise thereof, or in the property belonging thereto, may sell or assign, or otherwise dispose of the same, with the assent of the other member or members of the corporation, and the person or persons to whom such sale, assignment or other disposition may be made, shall immediately be and become a member or members of said corporation, with all the rights, privileges and immunities of other members thereof.

Sec. 3. And whereas the said S. F. Venable and W. P. Mason now occupy the building in the city of Asheville, in the county of Buncombe, state of North Carolina, known as the Asheville Male Academy, and the grounds pertaining thereto, and have obtained from the trustees thereof a lease for (23) twenty-three years upon the consideration mentioned in said lease of putting certain improvements upon the said grounds in the shape of buildings, which consideration has already been complied with, and the further consideration of keeping a school of high grade, now and therefore it is further enacted, that the said the Asheville Military Academy, by and with the assent of S. F. Venable and W. P. Mason, be and they are hereby authorized to occupy, hold and possess said buildings for the uses and purposes of such schools as they may organize, establish or conduct, or cause to be organized, established or conducted, and shall have all the rights and powers in respect to such buildings as are conferred upon them by section one of this Act. And the property and real estate of said corporation shall be exempt from taxation, in accordance with section five, article five, of the constitution.

Sec. 4. That the said the Asheville Military Academy may and it is hereby authorized and empowered to graduate the students of such school as they may organize, establish or conduct, or cause to be organized, established or conducted, and confer such degrees on those graduating as are usually conferred by colleges and universities, and issue diplomas to them, and in this regard shall have all of the powers, rights and privileges possessed by any college in this state.

Sec. 5. That the said Asheville Military Academy may, in their discretion, establish a school or schools at any place within the corporate limits of the city of Asheville, or within the said county of Buncombe, and may from time to time change the place or places of such school or schools according to their own judgment.

Sec. 6. That the said the Aslieville Military Academy may have a capital stock of twenty thousand ($20,000) dollars, in shares of one hundred ($100) dollars each, and said S. F. Venable and W. P. Mason may own the entire amount of said stock, if they see proper, and they are hereby authorized and empowered to sell, transfer or otherwise dispose of all or any number of the shares of said capital stock to such person or persons as they shall deem worthy to become members of said corporation.

Sec. 7. That the said the Asheville Military Academy is hereby authorized and empowered to make all such by-laws and regulations not inconsistent with the laws of the state as may be necessary to enable them to manage, conduct and in all things to accomplish the purposes of their organization; and such by-laws and regulations shall be binding on said corporation and every member thereof and every person interested therein, until the same shall be altered, amended or repealed, in accordance with the provisions of such by-laws and regulations themselves.

Sec. 8. The said the Asheville Military Academy may at any time, by and with the consent of two-thirds of its stockholders, representing and owning two-thirds of its capital stock, surrender this charter to the state, and may proceed to wind up the affairs of the corporation and distribute to each of said stockholders such portion or portions of the property of said corporation as the stock owned or held by him may entitle him to.

Sec. 9. That this Act shall be in force from and after its ratification.

In the general assembly read three times, and ratified this the 4th day of March, 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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