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Power of receiver.

ness within that portion of the territory of the United States now known as the territory of Wyoming, as well as to corporations, their directors, oficers, trustees or agents now doing or that may hereafter do business within this territory.

SEC. 52. The court or a judge thereof shall proceed Receiteto thereon as in other cases, and upon due proof that the defendants have been guilty of any of the acts set forth in the fifteenth section of this act, shall cause an account to be taken of the property and debts due to and from such corporation, and shall appoint a receiver who shall possess all the powers usually conferred on receivers; Provided, however, That said receiver may be appointed on proof as aforesaid, by affidavit marie at the time of commencing said suit.

Sec. 53. Said receiver appointed as aforesaid shall liave and possess full power and authority for the purchase of all necessary supplies for the use of such corporation, paying for the same reasonable rates, and may, under the order of the court or a judge thereof, do and perform all such acts as are necessary to the prompt and faithful (lischarge of the trust aforesaid by such receiver under and by virtue of the powers conferred by the appointment under this act.

Sec. 54. The receiver so appointed as aforesaid, shall be entitled to the same commissions and compensation for his services as, is, or may be, provided by law to executors and administrators, and no greater or other commissions or compensation than is hereby allowed, shall be received or retained by him, unless by special order of the court having jurisdiction of the cause, on motion made therefor.

Sec. 55. The receiver so appointed as aforesaid, shall, on assuming the duties of the trust, enter into an undertaking, with good and sufficient sureties to be approved by the judge or court, conditioned that the said receiver shall, according to the rules and practice of the court, duly file an inventory with the court of all the property received by him, and annually, and oftener if thereunto required, duly



account for what he shall receive or have in charge as receiver in the said cause, and pay and apply what liv shall receive or have in charge, as he may from time to time be directed by the court, or judge thereof; and to do and perform his office of receiver in all things according to the true intent and meaning of the order of the court or judge

appointing him. Pront of waste. Sec. 56. The fact of the waste of corporate property

under the fiftieth section of this act shall be fully made out on due proof to the court by affidavit, of any of the following acts by the directors, officers, or agents of a corporation :

First, When they shall sell or dispose of, or have sold or disposed of the securities of such corporation, and refuse to account for the same;

Second, When they shall sell, have sold, or shall offer for sale the securities of such corporation at ruinous rates ;

Third, When they shall purchase, or have purchased, such securities for their individual use or benefit, at less than par value thereof, or shall violate, or have violated, any section of the charter creating such corporation, by selling or offering for sale to the public, any stock of such corporation at a less rate than may be prescribed under and by virtue of such charter.

Sec. 57. If any creditor of a corporation desire to make such directors, stockholders, officers or agents, parties to the suit, after a decree thereon against the parties originally made defendants, he may do so on a supplemental complaint against them, founded on such decree.

Sec. 58. No officer, agent, director, or stockholder of any such corporation, shall be interested directly or indireetly in any contract made by or on behalf of such corporation, or shall make any agreement by which he or they are to be individually benefitted under or through the participation of such profits derived thereon ; and such officer, agent, or director shall be personally liable for the amount so received under such contract, and upon a decree or judgment, execution may issue as in other cases, at the request of such

Salement Complaint.

No officer to be interested in con truct.




creditor; Proviiled, No greater amount shall be collected under said execution than the amount so received as profits by such officer, agent, or director.

SEC. 59. When a creditor has obtained a judgment against such corporation, and the defendants are residents of this territory, in case such defendants have no property within the jurisdiction of the court to be reached br an execution, a return thereof may be made, instanter, by the officer holding the writ, and also, when the officers, directors, or agents of any corporation doing business within this territory, shall waste or squander, or shall have wasted or squandered the assets of such corporation, by which act the collection of just claims of creditors are delayed ; in such case a suit in equity may be maintained upon a bill stating either of the causes mentioned in this section, and upon due proof thereof by affidavit, the court or any judge thereof shall issue an injunction and appoint a receiver, who shall be governed as hereinbefore provided.


Purposes for which persons


Manner of


Religious and Benerolent Societies, Libraries, Colleges,

Academies, Fire and Military Companies. SEC. 1. Any number of persons, not less than three, may associate themselves together in the manner hereinafter way forin corpormentioned, for any of the following purposes:

First, For the support of the gospel, or the maintenance ceedures of religious worship;

Second, To maintain, hold and keep in repair a house of public worship, with or without a parsonage house appurtenant thereto;

Third, To provide, hold, maintain and keep in repair a place or places for the burial of the dead. The same persons may unite in one association for one or more or for all of the

purposes above mentioned ;

Fourth, To establish and maintain a library, or a cabinet of mineralogical or metallurgical specimens, or relating to any other science;

Fifth, To establish and maintain a college, academy or other like institution, for the education of youth;

Sixth, To promote the diffusion of useful information by other means than above mentioned;

Seventh, For the mutual assistance of the members of such society in time of sickness or necessity, and to provide a fund for this purpose by gratuitous contributions of the members thereof from time to time, and for the like incidental benevolent purposes;

Certificate, what to state.

Eighth, To establish and maintain hospitals and infirmaries for the cure of the sick;

Ninth, To establish and maintain lodges and chapters of the societies commonly known as the order of good templars, and other like benevolent societies;

Tenth, To establish and maintain fire companies in any incorporated city or town;

Eleventh, To establish and maintain independent companies and regiments of militia;

Twelfth, To establish and maintain societies for the preservation of the history and antiquities of this country, or any part thereof.

All such persons so desiring to associate themselves for any of the foregoing purposes, shall make, sign, acknowledge, and cause to be filed and recorded in the same manner as provided in the first section of article one of this chapter, duplicate certificates setting forth the name by which they have associated themselves, the purpose for which the association is formed, the number of the trustees and the names of the trustees who shall manage the affairs of the association during the first year, or until the next annual election, the place at which the corporation will carry on its business, or pursue the purpose for which it is formed, and the duration of such corporation, which may be perpetual.

SEC. 2. Upon the filing of such certificate, the persons

Existence, &c.,

to be proven as therein named, their associates, successors and assigns, shall

in article one.

be and become a body corporate and politic by the name in such certificates mentioned, and its existence, powers and


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purposes may be proven in like manner as in the case of other corporations, as provided in article one of this act.

SEC. 3. Every such corporation shall have power to sue and be sued, plead and be impleaded, in all courts of law and equity whatsoever; to have and use a commun seal, and alter the same at pleasure; to contract and be contracted with in pursuance of the powers of such corporation; to purchase or receive by gift or otherwise, personal estate, such as may be necessary or proper for the purposes of such corporation, and to dispose of the same, to purchase or receive by gift, grant, devise or otherwise, real estate, such as may be necessary or proper for the purposes of the corporation, but not exceeding as follows: Corporations property formed for any of the purposes specified in the first, second, thiril, seventh, eighth and ninth subdivisions of the first section of second article, not exceeding fifty thousand dollars in value. Corporations formed for any of the purposes named in the ninth subdivision of the first section, not exceeding fifty thousand dollars in value. Corporations formed for the purposes named in the tenth and eleventh subdivisions of section one, not exceeding ten thousand dollars in value.


Sec. 4. The members of every such corporation shall have power when organizel, to adopt by-laws for the following purposes : To regulate the time and places of holding their meetings, and the manner of calling special meetings; to regulate the management of the affairs and property of such corporation; to regulate the number of trustees and the other officers of the corporation, and their powers and duties; to regulate the qualifications, choice, powers and duties of the servants, teachers, and employes of such corporations; to prescribe the qualifications of persons desiring admissions to such corporations, the manner of the admissions of new members, and the discharge or expulsion of members; to provide for the manner of forfeiting or selling of the shares in such corporation of any member failing to pay any assessment thereon, and all other by-laws and regulations necessary in promoting the objects and purposes of such


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