Pennsylvania Act 1881-76 — SALE, LETTING, OR MORTGAGING OF REAL PROPERTY BY CORPORATIONS

Act text

SALE, LETTING, OR MORTGAGING OF REAL PROPERTY BY CORPORATIONS
                   Act of Jun. 8, 1881, P.L. 69, No. 76               Cl. 66
                                  AN ACT

     Relating to the sale, letting or mortgaging of real estate by
        corporations.

        Section 1.  Record of minutes of corporate meeting
        Whenever any corporation may have sold, let or mortgaged, or
     may hereafter sell, let or mortgage, any of its corporate
     property, real or personal, or its franchises, a copy of the
     minutes of any meeting of the stockholders or directors of such
     corporation, authorizing or directing any such sale, letting or
     mortgaging, proven by oath or affirmation of the secretary, or
     other proper custodian of such minutes, to be a full and true
     copy of the minutes of such meeting, so far as relates to any
     such sale, letting or mortgaging, shall be prima facie evidence
     of the matters therein set forth, in any case in which the
     original minutes, if duly proven, would be evidence in any
     judicial proceeding, relating to such property or franchises;
     and such copy, so probated before any officer authorized to take
     probate or acknowledgment of deeds for the purpose of record in
     this Commonwealth, may be recorded in the office for recording
     deeds, in the proper county, in like manner, and with like
     effect, as other instruments of writing, relating to real estate
     in such county, may be recorded.  1881, June 8, P.L. 69, Sec. 1.
        Section 2.  Probate of minutes in case of dissolution of
     corporation
        Whenever any such corporation, after having sold, let or
     mortgaged any estate, real or personal, or franchises, may have
     been, or may hereafter be, dissolved in pursuance of law, such
     probate may be made by the secretary who kept or recorded such
     minutes, or by any other ex-officer of such dissolved
     corporation having the actual custody of said original minutes,
     and the averment of such facts in the probate shall be prima
     facie evidence thereof.  1881, June 8, P.L. 69, Sec. 2.
        Section 3.  Sale, lease or mortgage not to be invalidated by
     informality in execution
        In case of any duly authorized sale, letting or mortgaging by
     a corporation, the same shall not be invalidated by any
     informality in the execution or acknowledgment of any
     conveyance, mortgage or other instrument by any officer of such
     corporation for carrying the same into effect: Provided, That no
     defect in substance shall be deemed to be cured hereby.  1881,
     June 8, P.L. 69, Sec. 3.