poration. personal, or mixed, to an amount not exceeding fifty thousand dollars of real estate, and fifteen thousand dollars of per. sonal estate, and the same to alienate, sell, transfer, lease, and convey by the board of managers, and do all other acts and things that may be hereafter expressed in this charter, not repugnant to the Constitution and laws of this State or of the United States. 2. The object of this corporation shall be to procure the Object of the cor- control of orphans and destitute children of Baptist parents, and of such other destitute and helpless children as the managers may think proper to receive, for the purpose of supporting and educating them in an institution to be prepared and provided for that purpose by said managers, or when deemed best in any case, to secure any such child a home and education outside of said institution as more fully hereafter expressed. board of direct ors. § 3. The estate and concerns of said orphans' home shall be Managed by governed and directed by a board of managers. The incorporators herein named shall constitute said board of managers. A majority of the board shall be a quorum to transact busiVacancies - how ness; and any vacancy occurring in said board shall be filled by the remaining members of said board. The said board may be increased in members not exceeding fifteen, if, in the opinion of a majority of the present board, it be deemed expedient. filled. dren for county court 4. The board of managers shall, in their discretion, have May receive chil power to receive into the custody and control such children as are referred to in the second section of this act, whenever such child has been or may be committed to its custody by the person having the rightful custody and control thereof, or may be abandoned by those having the right to the control and custody thereof, or when such child may, in good faith, be committed to its custody and control by any two good citizens of this Commonwealth, with the approval of the county court of the county where the child is found, because such child is found by them without home and protection, and moral and religious training: Provided, The cost attending the county court proceedings shall be allowed by the court of May control un claims, and paid out of the county levy. Said corporation, for the purpose of protection of the person and right of any child committed to its care, is hereby invested with all the rights and powers of a parent or natural guardian, with the til 18 and 21 years of age children right to the exclusive control and custody of the same until the age of eighteen years if a girl, and twenty-one years if a boy, unless disposed of sooner, as provided by this charter. § 5. Said corporation may, through its president, as may be May bind out prescribed by its by-laws, permit any suitable person to adopt any child in its custody and control as their own child, upon proper covenants in writing being executed by such persons and the president, and acknowledged or proven and recorded in the county court clerk's office of Jefferson county, as deeds may be; and said corporation may, through its president, as may be prescribed by its by-laws, bind out to any suitable person any child in its custody and control as an apprentice, and may also require of such persons other covenants beneficial to the child, in addition to those prescribed by laws, especially that such child shall not be treated as a servant; the apprenticeship to terminate at the lawful age, or as soon as may be expressed in the indentures, which shall be acknowledged or proven and recorded in the county court clerk's office of Jefferson county, as deeds as may be. from taxation. § 6. The property, money, and estate and rights of said Property exempt corporation shall be exempt from all taxation, by State or local laws, for any purpose whatever. § 7. The board of managers shall have power to adopt such by-laws for the regulation of the affairs of the corporation, and to procure or have erected and constructed such buildings and improvements, and to appoint and employ such officers, superintendents, teachers, and other persons, and to do such other things as are necessary and proper to accomplish the object contemplated by this charter, not inconsistent with. the laws of this State or of the United States. § 8. The board of managers may provide in the by-laws May form auxilifor the formation of auxiliary societies, upon such terms as they think best. § 9. This act to take effect from its passage. ary societies. Approved January 15, 1880. CHAPTER 10. AN ACT to establish the City Bank at Hopkinsville. Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That there is hereby established a bank of deposit in Capital stock. the city of Hopkinsville with a capital of one hundred thou Name ors. Fill vacancy. &c. sand dollars, in shares of one hundred dollars each, to be subscribed and paid for as hereinafter specified; and the subscribers, their associates, successors, and assigns, shall be a body-politic and corporate, by the name and style of the City Bank, and shall so continue for fifty years from its organization, and shall be capable of contracting and being contracted with, of suing and being sued, of impleading and being impleaded, of answering and defending, in all courts and places whatever; it may have a common seal, and change and renew the same at pleasure. § 2. Said bank shall be under the control and management Board of direct of five directors, each of whom shall be a stockholder. They shall be residents of this State, and. after the first election, shall be elected annually on the second Monday in January each year, and hold office until their successors are elected and qualified; they shall elect one of their number president, and shall hold regular meetings at such times as may be fixed by the by-laws, and other meetings may be had whenever deemed necessary; and in case of the death or resignation of any director, the vacancy shall be filled by the board of directors. The directors shall have power to receive subscriptions for so many of the shares of the stock of said company remaining unsold as they may at any time choose to sell; to declare dividends of the profits arising out of the business, Appoint officers, and to appoint such officers, agents, and servants as they may deem necessary to conduct the business of the bank, and pay them such sums as wages and salaries, and take from them such bonds to secure the faithful performance of their duties, personal as they shall think proper and reasonable. The stock shall be deemed personable property, and shall be assignable according to such rules as the board of directors shall, from time to time, establish; but the corporation shall have a lien on the stock to secure any indebtedness by the stockholder. 3. Chas. W. Radford, Lucian Jones, E. B. Long, John P. Name of commis- Garnett, C. A. Thompson, W. W. Garnett, H. R. Littell, and Geo. C. Long are hereby appointed commissioners, any three of whom may open books and receive subscriptions for the capital stock; and when five hundred shares have been subscribed, it shall be their duty to give notice in one newspaper published in said city of Hopkinsville, and appoint a day for the election of a board of directors, who shall hold their office Stock property. sioners. Appoint day to elect board directors. H until the ensuing annual election. The payment for the mence business. posits. § 4. Said bank may receive deposits of gold and silver, May receive debank notes, and other notes which may be lawfully circulated as money, and repay the same in such manner and at such times, as may be agreed upon with the depositors by special or general contract; may deal in the loaning of money, exchange, promissory notes, and other evidences of debt; take personal and other securities, except real estate, for the payment thereof, and dispose of the latter as may be agreed upon. at the time, in writing, in all respects as natural persons may do under the common law; and the promissory notes made negotiable and payable at its banking house, or at any other bank in this State, and inland bills which may be discounted by it, shall be, and they are hereby, put upon the footing of foreign bills of exchange; and like remedy may be had thereon, jointly and severally, against the acceptors, drawers, and indorsers. hold real estate. 5. The said corporation may acquire, hold, possess, use, May acquire and occupy, and enjoy all such real estate, goods and chattels, as may be convenient for the transaction of its business, or which may be conveyed to it as surety for any debt, or purchased in satisfaction of any debt, judgment, or decree, and sell and convey the same; and they may make such by-laws be paid. for their government as they may deem necessary: Provided, The same be not contrary to the Constitution and laws of this State or of the United States. § 6. It shall be the duty of the president, on the first MonTax when to day in January of each year, to pay into the Treasury of the State fifty cents on each one hundred dollars of stock held and paid for in said institution, which shall be in full of all tax or bonus. of officers for . 7. If the cashier, clerk, teller, or other officer shall approPunishment priate any of the funds of said corporation to his own use, malfeasance. or shall willfully fail to make correct entries, or knowingly make false ones, on the books of the bank, with intent to cheat or defraud the corporation, or any other person, or to conceal any improper appropriation of funds, the officer so offending shall be deemed guilty of felony; and shall, upon conviction thereof, be sentenced to confinement in the jail and penitentiary of this Commonwealth for a period of not less than two nor more than twenty years. Shall not issue currency. examine § 8. It shall not be lawful for said bank to issue any note or bill to be passed and used as currency. § 9. The General Assembly shall have the right to examine Legislature may the affairs of said corporation, by any committee they may appoint for that purpose, and this act shall be subject to repeal or amendment at the pleasure of the General Assembly. § 10. This act to take effect from its passage. Approved January 15, 1880. CHAPTER 11. AN ACT authorizing the city of Ashland to purchase and donate lands to the Elizabethtown, Lexington and Big Sandy Railroad Company, to issue bonds, and levy a tax therefor. Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That to enable the city of Ashland to purchase lands, May issue bonds. to be donated to the Elizabethtown, Lexington and Big San dy Railroad Company for depot grounds or other railroad purposes, the said city is authorized to issue its bonds for any sum not exceeding eight thousand dollars, payable at such times as the city council may fix, not exceeding eight years, with coupons attached for the interest, which shall not exceed seven per cent. per annum, but may be payable semi-annually. |