North Carolina - Acts on Education Topics

An Act to Incorporate Buies Creek Academy and Commercial College in Harnett County.

1899 Private Laws: Chapter 130

Private Laws of the State of North Carolina Passed in 1899 - Pages 260-261.

The General Assembly of North Carolina do Enact:

Section 1. That J. A. Campbell, J. V. DeVeany, P. D. Woodall, J. S. Pearson and their associates and successors be and are hereby created a body politic and corporate under the name and style of "Buies Creek Academy and Commercial College," and by that name to remain for sixty years for the purpose of maintaining a school of high grade in Harnett County, and in that name may acquire, hold and convey property, real and personal, may sue and be sued, contract and be contracted with, plead and be impleaded, in their corporate capacity; may exercise such rights and acts as may be deemed needful for the promotion of education as aforesaid; may have and use such a common seal, may make and alter from time to time such by-laws as they may deem necessary for the government of said institution: Provided, such by-laws shall not be inconsistent with the constitution and laws of the United States and of this state.

Sec. 2. That the corporation shall have power to issue to students who complete the prescribed course of study certificates of proficiency.

Sec. 3. This corporation and its stockholders may, as they see proper from time to time, in order to best promote the interest of the institution, issue, offer for sale and sell shares of the capital stock of the corporation, which may if so desired be divided into dividend bearing and non-dividend bearing shares: Provided, that each share shall be of the par value of twenty dollars.

Sec. 4. That the members of this corporation, together with such stockholders as may be admitted from time to time by sale of shares of stock, shall control the affairs of the corporation, elect such officers as they see fit, fix times of meetings and transact such business as may be incident to the success of the corporation: Provided, that in all meetings of the corporarion and stockholders all questions shall be decided by a majority vote of the stock represented, each share having one vote: Provided. that a majority of the whole stock shall be represented in order to constitute a legal meeting of the corporation or stockholders.

Sec. 5. That in order to make improvements or advance the purposes of the corporation this corporation shall have power to create a debt or debts, and if so desired to secure the same by a mortgage or mortgages or deed or deeds of trust.

Sec. 6. That the stockholders shall not be individually liable for the contracts or torts of this corporation.

Sec. 7. That it shall not be lawful for any person or persons to set up any gaming table or any device whatever, or play at any game of hazard by whatever name called, or to gamble in any manner, or to keep a house of ill fame, or to manufacture intoxicating liquors, or otherwise sell or convey for a certain consideration, or to carry by pretense of gift to any person or persons, any intoxicating liquors, wines, cigarettes or cordials within three miles of said Buies Creek Academy, and any person who shall violate any of the provisions of this section shall be guilty of a misdemeanor.

Sec. 8. That the first meeting of the stockholders or incorporators shall be held within the next six months from or after the ratification of this Act at such time and place in Harnett County as said J. A. Campbell shall designate. Notice of said meeting to be given to each stockholder or incorporator.

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

Ratified the 27th day of February, A.D. 1899.

Daniel L. Russell, Jr., Governor
Charles A. Reynolds, Lt. Governor and President of the Senate
Henry Groves Connor, Speaker of the House of Representatives

State of North Carolina,
Office of Secretary of State,
Raleigh, April 28th, 1899.

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

Cyrus Thompson,
Secretary of State.

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