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Proceedings and Acts of the General Assembly, March 30, 1868
Volume 142, Page 3299   View pdf image (33K)
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THOMAS SWANN, ESQUIRE, GOVERNOR. 961

Sec. 179. And be it enacted, That if issue or
issues be joined on such proceedings, the same
shall stand for trial at such time as the court shall
direct, and the said issue or issues shall be tried
by a jury if either party desire it ; otherwise they
shall be heard and determined by the court. If,
from the findings of the jury or upon considera-
tion and determination of the case by the court,
the court shall be of opinion that legal cause of
forfeiture has been shown, and the public interests
require that the said forfeiture should be declared
a decree of forfeiture shall be entered, and the
charter of said corporation shall thereby be an-
nulled and vacated, and all its corporate franchi-
ses and powers shall cease and henceforth be

Join issues.

void, and the court shall thereupon appoint a re-
ceiver or receivers of the estate and assets of the
said corporation, in the same manner and with
like powers as is provided in Sections one hun-
dred and eighty-nine and one hundred and nine-
ty of this Article, in reference to dissolution of
corporations on bill filed therefor on their own
motion.

Receiver.

Sec. 180. And be it enacted, That if any corpo-
ration upon whom the aforesaid petition and rule
to show cause has been served, shall neglect to file
an answer to the petition at the time appointed by
the said court the court shall thereupon proceed to
hear the said application ex parte, within five
days thereafter, and if it shall be of opinion that
good cause of forfeiture is shown, it shall proceed
forthwith to decree the same as is hereinbefore
provided in the preceding Section of this Article.

Show cause
within five
days.

Sec. 181. And be it enacted, That if the court,
either upon a hearing ex parte, as hereinbefore
provided, or upon a hearing after answer, as pro-
vided in Section one hundred and seventy-nine,
shall be of opinion that no cause of forfeiture haa
been shown or that the public interest do not de-
mand that such forfeiture should be decreed, even
though legal cause therefor has been shown, it
shall dismiss the petition and award costs in favor
of the corporation proceeded against in its discre-
tion ; and if the court shall determine that legal
cause of forfeiture has been shown, it may, in its
discretion; before passing a final decree of forfei-

61

Court mar
dismiss.



 

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Proceedings and Acts of the General Assembly, March 30, 1868
Volume 142, Page 3299   View pdf image (33K)
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