North Carolina - Acts on Education Topics

An Act to Incorporate Liberty Normal College.

1899 Private Laws: Chapter 367

Private Laws of the State of North Carolina Passed in 1899 - Pages 1005-1006.

The General Assembly of North Carolina do Enact:

Section 1. That L. C. Amick, J. Rover Smith, L. R. Smith, and such persons as they may associate with them, and their successors, are hereby [created] a body politic and corporate under the name and style of Liberty Normal College, in said name to sue and be sued, plead and be impleaded, to buy, sell, lease, and hold real and personal estate for educational purposes, and to have all other rights and privileges incident to such corporations.

Sec. 2. That the capital stock of this corporation shall be five thousand dollars, with privilege to increase it to fifty thousand dollars, divided into shares of ten dollars each.

Sec. 3. That the corporators herein named shall open books of subscription, and when fifty per cent of said five thousand dollars shall have been subscribed, and fifty per cent of that paid in, the said stockholders may organize by electing a board of directors, consisting of not less than three nor more than five members, who shall elect a president and secretary, said board of directors being elected by a vote of a majority of stock.

Sec. 4. Said board of directors shall have power, and it shall be their duty, to elect once a year a president and faculty for said college and to fix their compensation.

Sec. 5. The object of said corporation shall be to train young men and women morally, physically, and intellectually, to prescribe courses of study, and upon its completion to grant diplomas of graduation under the seal of the college signed by the president and faculty, and to have such other powers as are incident to colleges in this state.

Sec. 6. This college as incorporated shall have authority to receive and hold in trust any funds or property donated by any individual or otherwise for the benefit of the college, to be used as directed by the donor, if direction be made, otherwise by the directors of said corporation, the principal place of business of which shall be at Liberty, Randolph County, North Carolina.

Sec. 7. That this corporation shall have power to enact such by-laws for the government of said college as it may deem best, not inconsistent with this charter and the laws of the state.

Sec. 8. That no stockholder shall be liable individually for the debts of the corporation.

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

Ratified the 7th day of March, 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.

© 2017 - J.D. Lewis - PO Box 1188 - Little River, SC 29566 - All Rights Reserved