1847 Vol. 1 -- Page: 175
Sequential Number: 137
Full Title: AN ACT to revive and amend the act entitled an act to incorporate the Milledgeville Railroad Company, assented to 26th December, 1837.
SECTION 1. Be it enacted by the General Assembly of the State of Georgia, That the act, the title of which is recited in the foregoing title, be and the same is hereby revived, and such revived act continue in full force for and during the term of thirty years.
SEC. 2. And be it further enacted, That whereas many of the persons incorporated by the act of eighteen hundred and thirty-seven aforesaid, have died, and others of them have removed from the county of Baldwin, that the following persons, or any two of them, and such others as they may associate with themselves hereafter, shall constitute and form the Milledgeville Railroad Company, to wit: Tomlinson Fort, Miller Grieve, Uriah Horne, Isaac Newell, Augustus H. Kenan, Benjamin T. Bethune, W. S. Rockwell, M. J. Kenan, James Herty, George L. Deming, E. Daggett, R. H. Ramsay, W. A. Jarratt, Benjamin S. Jordan, Green H. Jordan, Seaton Grantland, Samuel T. Beecher, John Treanor, Robert McComb, Samuel Buffington, Jr., James Dickson, Allen Little, William A. Mott, R. M. Orme, Farish Carter, John G. Park, F. H. Sanford, and Nathan Hawkins, with all the rights and privileges conferred by the act which this revives and amends.
SEC. 3. And be it further enacted, &c., That the private property of each stockholder, equal to the amount of his stock, shall be liable for the debts of the incorporation; and in the event of the neglect or refusal of the incorporation to pay any debt owing by the same, the creditor or creditors thereof may sue the Company in their corporate name, and upon obtaining execution against the Company, it shall first be levied upon the corporate property of said Company, to wit, the road or any portion thereof, the cars, &c. &c., which shall be first liable; and upon the return of the proper officer or officers of "no corporate property to be found," said execution may them be levied upon an amount of the private property of any stockholder of the Company equal to the amount of his stock, and if that be not sufficient to satisfy the said execution, then it may be levied upon the private property of any other stockholder equal to his stock, and so on until the execution is fully satisfied; and in all cases the levying officer shall be the judge of the amount of private property necessary to satisfy the fi. fa.
SEC. 4. And be it further enacted, &c. That it shall be the duty of said Company to publish semi-annually, in some public gazette of this State, a full statement of the names of the stockholders of said Company and the amount of stock owned by
of the stock so owned by each stockholder, transferred twelve months prior to the obtainment of judgment against the Company, shall not discharge his private property, but it shall still be bound under the provisions and in the manner pointed out in the foregoing section.
SEC. 5. And be it further enacted, &c., That in case any stockholder or stockholders shall be compelled, under the foregoing section, to pay off the execution or executions obtained against the Company, it shall be kept open for his or their benefit, and may be levied by him or them upon the private property of any or all the other stockholders in proportion to their respective shares of stock.
SEC. 6. And be it further enacted, That all laws and parts of laws, in conflict with this act, be and the same are hereby repealed.
CHARLES J. JENKINS,
Speaker of the House of Representatives.
ANDREW J. MILLER,
President of the Senate.
GEORGE W. TOWNS, Governor.
Approval Date: Approved, December 22, 1847.
Eileen Babb McAdams copyright 2004