Reports of Cases Decided in the Supreme Court of the State of Indiana Volume 185

Reports of Cases Decided in the Supreme Court of the State of Indiana Volume 185

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1916 edition. Excerpt: ...and no by-law so fixing the qualification of the trustees of said association or corporation shall ever be repealed, amended or modified except by the vote of persons holding the stock of said association or corporation to the aggregate amount Richards' 1: . Wilson--185 Ind. 335. of at least ninety-five per cent of the stock of said association at such time, issued and outstanding.' " 'X. Inasmuch as the objects for which said association and corporation are formed are philanthropic and it is not the intent that its affairs shall be managed and conducted with a view to the pecuniary profit of any persons or person, but that they shall be managed and conducted in such a way that in perpetuity the best instruction shall be provided for the largest number of students that the financial ability of said association or corporation will warrant, to secure said objects it is hereby provided that all the stock issued shall be issued and accepted with the understanding and agreement that no share of any such stock shall ever be voted at the stockholders' meeting in favor of authorizing any incumbrances to be placed upon the real estate of said association, or any structure thereon, and all trustees elected and accepting the office of trustee shall accept the same with the understanding and agreement that no power shall be treated as being held by or vested in the Board of trustees of said association in any way, to place incumbrance upon the real estate of said association.' "No certificates of capital stock in said corporation or association was ever issued to any one and no sum of money was ever paid to said corporation by any one for or on account of capital stock. And no subscription for capital stock in...show more

Product details

  • Paperback | 268 pages
  • 189 x 246 x 14mm | 485g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236948173
  • 9781236948175