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or lumber, or who performs any labor in or about a logging-camp, necessary for the getting out or transportation of logs or lumber, shall have a lien thereon for the amount due for his personal services, which shall take precedence of all other claims, to continue for thirty days after the logs or lumber arrive at the place of destination, for sale or manufacture; suit to foreclose the same shall be commenced in the proper Court within twenty-five days from the time the same is filed.

CHAPTER XXI.

ARBITRATIONS.

Persons capable of contracting may submit to arbitration any controversy which might be the subject of a civil action between them, except a question of title to real property in fee or for life.

The submission to arbitration must be in writing, and may be made to one or more persons.

CHAPTER XXII.

HOMESTEADS.

The homestead consists of the dwelling-house in which the claimant resides, and the land on which the same is situated, selected as hereinafter provided. It may be used as a place of business, but actual residence is essential.

Homesteads

may

be selected and claimed : 1. Not exceeding five thousand dollars in value, by any head of a family.

2. Not exceeding one thousand dollars in value, by any other person.

The phrase "head of a family," includes within its meaning : 1. The husband, when the claimant is a married person.

2. Every person who has residing on the premises, with him or her, and under his or her care and maintenance, either :

(1.) His or her minor child, or the minor child of his or her deceased wife or husband.

(2.) A minor brother or sister, or the minor child of a deceased brother or sister.

(3.) A father, mother, grandfather, or grandmother.

(4.) The father, mother, grandfather, or grandmother of a deceased husband or wife.

(5.) An unmarried sister, or any other of the relatives mentioned who have attained the age of majority, and are unable to support themselves.

The declaration of homestead must be executed, acknowledged, and duly recorded in the office of the Recorder of the county in which the land is situated. From and after the time the declaration is filed for record, the premises therein described constitute a homestead.

The homestead is subject to execution or forced sale, in satisfaction of judgments obtained :

1. Before the declaration of homestead was filed for record, and which constitute liens upon the premises.

2. On debts secured by mechanics, laborers, or vendors' liens upon the premises.

3. On debts secured by mortgages upon the premises, executed and acknowledged by the husband and wife, or an unmarried claimant.

4. On debts secured by mortgages upon the premises, executed and recorded before the declaration of homestead was filed for record.

The homestead of a married person cannot be conveyed or encumbered, unless the instrument is executed and acknowledged by both husband and wife.

If the homestead exceed in value the amount of the homestead exemption, the excess may be reached on execution, but the property must first be appraised, upon application to the Superior Judge.

The homestead may be abandoned by filing in the office where the declaration is filed, a declaration of abandonment, duly executed.

CHAPTER XXIII.

CORPORATIONS.

Corporations are either public or private. Public corporations are formed or organized for the government of a portion of the State; all other corporations are private.

Private corporations may be formed by the voluntary association of any five or more persons. A majority of such personis must be residents of this State. They may be formed for any purpose for which individuals may lawfully associate themselves.

The owners of shares in a corporation which has a capital stock are called stockholders. If a corporation has no capital stock, the corporators and their successors are called members.

Each stockholder of a corporation is individually and personally liable for such portions of its debts and liabilities as the amount of stock or shares owned by him bears to the whole of the subscribed capital stock or shares of the corporation, and for a like proportion only of each debt or claim against the corporation. Any creditor of the corporation may institute joint or several actions against any of its stockholders, for the proportion of his claim payable by each, and in such action the Court must ascertain the proportion of the claim or debt for which each defendant is liable, and a several judgment must be rendered against each, in conformity therewith. If any stockholder pays his proportion of any debt due from the corporation, incurred while he was such stockholder, he is relieved from any further personal liability for such debt, and if an action has been brought against him upon such debt, it shall be dismissed, as to him, upon his paying the costs, or such proportion thereof as may be properly chargeable against him. The liability of each stockholder is determined by the amount of stock or shares owned by him at the time the debt or liability was incurred; and such liability is not released by any subsequent transfer of stock. The term stockholder, as used in this section, shall apply not only to such persons as appear by the books of the corporation to be such, but also to every equitable owner of stock, although the same appear on the books in the name of another, and also, to every person who has advanced the installments or purchase-money of stock in the name of a minor, so long as the latter remains a minor; and also, to every guardian, or other trustee, who voluntarily invests any trust funds in the stock. Trust funds in the hands of a guardian, or trustee, shall not be liable under the provisions of this section, by reason of any such investment, nor shall the person for whose benefit the investment is made be responsible in respect to the stock until he becomes competent and able to control the same, but the responsibility of the guardian or trustee making the investment shall continue until that period. Stock held as collateral security, or by a trustee, or in any other representative capacity, does not make the holder thereof a stockholder within the meaning of this section, except in the cases above mentioned, so as to charge him with any proportion of the debts or liabilies of the corporation; but the pledgor, or person, or estate represented, is to be deemed the stockholder, as respects such liability. In corporations having no capital stock, each member is individually and personally liable for his proportion of its debts and liabilities, and similar actions may be brought against him, either alone or jointly with other members, to enforce such liability, as by this section

may be brought against one or more stockholders, and similar judgments may be rendered. The liability of each stockholder of a corporation forined under the laws of any other State or Territory of the United States, or of any foreign country, and doing business within this State, shall be the same as the liability of a stockholder of a corporation created under the Constitution and laws of this State.

The directors or trustees of corporations and joint-stock associations, shall be jointly and severally liable to the creditors and stockholders for all moneys embezzled or misappropriated by the officers of such corporation or joint-stock association during the term of office of such director or trustee. Contracts to relieve directors or trustees from this liability are null and void.

A corporation may be dissolved by the Superior Court of the county where its principal place of business is situated, upon its voluntary application for that purpose.

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