South Carolina - Acts on Education Topics

An Act to Incorporate the Spartanburg Female College.

December 21, 1854

The Statutes at Large of South Carolina, Volume XII, Pages 302-304.

I. Be it enacted by the Senate and House of Representatives, now met and sitting in General Assembly, and by the authority of the same, That Simpson Bobo, David W. Moore, Thomas O. P. Vernon, J. B. Tolleson, H. J. Dean, H. H. Thompson, James McMakin, O. E. Edwards, James Farrow, D. C. Judd, and their associates and successors, be, and they are hereby, declared a body politic and corporate, by the name and style of "The Spartanburg Female College Association," being shareholders and joint proprietors of the corporate property known as "The Spartanburg Female College," located in the town of Spartanburg, South Carolina.

II. That the said association shall have power, in their corporate name, to sue and be sued, plead and be impleaded in any court of law or equity in this State; to purchase and hold real and personal estate; to have a common seal, and the same to break and alter at will, and to make all such by-laws for the good government of the said corporation as they may deem necessary, not inconsistent with the laws of the land.

III. That said association shall have power and authority to assemble in their corporate capacity at such time and place as shall be previously designated for that purpose, of which due and proper notice shall be given in one of the weekly newspapers published in the town of Spartanburg; once in every two years to elect suitable persons to act as Trustees of said College; to receive and inspect the fiscal report of the Board of Trustees and to perform such other functions and exercise such other powers for the better direction and management of said college as they may deem proper, not inconsistent with the general provisions of this Act.

IV. That at all such biennial meetings each shareholder shall be allowed to vote either in person or by proxy, and shall be entitled to one vote for every share of twenty-five dollars of which he or she shall be the bona fide holder: Provided, That no amount of stock shall entitle the holder to more than two hundred votes.

V. That the capital stock of said corporation is hereby authorized to be increased to the sum of one hundred thousand dollars.

VI. That the Board of Trustees herein provided for shall consist of thirteen members, who shall be entitled to hold their office for the term of two years, and until a new election shall take place.

VII. That the said Board of Trustees shall have power to elect Professors for said college and, from time to time, fill all such vacancies as may occur among them, and to remove them at their discretion; to prescribe a course of study to be pursued by the students; to confer degrees and award diplomas, and such other honorary distinctions to graduates as are common in the colleges of the United States; to enact rules and regulations for the government of the said college, and make all necessary contracts therewith connected; to receive and disburse the funds of said corporation; to declare dividends of the capital stock, and pay over the same to the shareholders; and to do all other acts necessary to the proper conduct, management and success of said college; and to have, enjoy and exercise all other rights, powers and privileges usually incident to literary institutions of similar grade.

VIII. That the South Carolina Annual Conference of the Methodist Episcopal Church, having subscribed the sum of five thousand dollars to the capital stock of said corporation, and having released in favor of said corporation all right to receive any dividends arising upon said stock, the said Annual Conference shall have the right perpefually to nominate and appoint seven members of the Board of Trustees hereinbefore provided for; and the said corporation shall receive and educate, without charge for tuition, such pupils being the daughters of Methodist ministers, living within the bounds of said Annual Conference, as shall apply for admission into said college, properly prepared to enter college, according to such grade of scholarship as shall be fixed by the regulation of college: Provided, These conditions be assented to and affirmed by a vote representing a m.ajority of the capital stock of said corporation other than the stock of the said Conference; and if the said conditions shall be rejected by the stockholders at their first regular meeting under this charter, then the obligations herein imposed on said corporation shall be void, and the said subscription of the South Carolina Annual Conference shall be released and forfeited, and the said sum of five thousand dollars, so subscribed, shall revert to said Annual Conference.

IX. That it shall be the duty of the Board of Trustees herein provided for, to make a detailed report of the fiscal afiairs of the said college to each regular meeting of the stockholders, with proper vouchers for all disbursements by them made during their term of office.

X. That the shareholders in the said corporation shall not be liable for the debts or other liabilities of said college beyond the amount of their corporate interest, being the shares held respectively by said corporators; but the Trustees under whose direction any excess of debt above the corporate means and assets of said college shall or may be created shall become and be deemed liable in their individual character for such excess of debt or liability as aforesaid: Provided, That any member of said Board of Trustees may exempt himself from such liability by a formal dissent from the act or acts creating such debt or liability; or, otherwise being absent from any meeting of said Board at which such liability shall have been created.

XI. That the said corporation shall have power to take, by donation, bequest or otherwise, real and personal estate for the use of said college to any amount not exceeding in value the sum of three hundred thousand dollars.

In the Senate House, the twenty-first day of December, in the year of our Lord one thousand eight hundred and fifty-four, and in the seventy-ninth year of the sovereignty and independence of the United States of America.

ROBT. F. W. ALLSTON, President of the Senate.
JAMES SIMONS, Speaker of the House of Representatives.

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