respect to any estate of the ward that shall be found within the Territory, and also with respect to the person of the ward, if he shall come to reside therein, as are prescribed with respect to any other guardian appointed under this chapter.

§ 1982. Every such guardian shall give bond to the judge appointing him, in like manner and with the like conditions, as is above provided with respect to other guardians; excepting that the provisions respecting the inventory, the disposal of the estate and effects, and the account to be rendered by the guardians, shall be confined to such estate and effects as shall come to his hands in this Territory, and that the provisions respecting the custody of the ward shall not be applicable unless the ward shall come to reside within this Territory.

§ 1983. Every guardian shall be allowed the amount of all his reasonable expenses incurred in the execution of his trust, and he shall also have such compensation for his services as the court in which his accounts are settled shall consider to be just and reasonable.

§ 1984. When an account is rendered by two or more joint guardians, the court may, in its discretion, allow the same, upon the oath of any one of them.

§ 1985. The words "insane person" are intended to include every idiot, non compos, lunatic, and distracted person, and the word "spendthrift" is intended to include every one who is liable to be put under guardianship on account of excessive drinking, gaming, idleness, or debauchery; and these words shall be so construed in all the provisions relating to guardians and wards contained in this or any other statute.

SALE OF REAL ESTATE.

§ 1986. When the income of the estate of any person under guardianship, whether as a minor, insane person, or spendthrift, shall be insufficient to maintain the ward and his family, his guardian may sell his real estate for that purpose, upon obtaining a license therefor, and proceeding therein in the manner hereinafter provided.

§ 1987. When it shall appear, upon the representation of any such guardian, that it would be for the benefit of his ward that his real estate, or any part thereof, should be sold, and the proceeds thereof be put on interest, or invested in some productive stock, his guardian may sell the same accordingly, upon obtaining a license therefor, and proceeding therein as hereinafter provided.

§ 1988. If the estate is sold for the maintenance of the ward and his family, as provided in section 1971, the guardian shall apply the proceeds of the sale to that purpose, as far as necessary, and shall put out the residue, if any, on interest, or invest it in the best manner in his power, until the capital shall be wanted for the maintenance of the ward and his family, in which case the capital may be used for that purpose, as far as may be necessary, in like manner as if it had been personal estate of the ward.

§ 1989. If the estate is sold, in order to put out and invest the proceeds, as provided in section 1987, the guardian shall make the investment according to his best judgment, or in pursuance of any order that may be made relating thereto by the court granting him the license to sell.

§ 1990. In every case of the sale of real estate, as provided in this chapter, the residue of the proceeds, if any, remaining upon the final settlement of the accounts of the guardianship, shall be considered as real estate of the ward, and shall be disposed of among the same per

sons and in the same proportions as the real estate would have been if it had not been sold.

§ 1991. Such license, in either of the cases aforesaid, may be granted by any circuit judge of the island in which the estate intended to be sold lies.

§ 1992. In order to obtain such license, the guardian shall present to the court a petition, setting forth the condition of the estate, and the facts and circumstances on which the petition is founded, tending to show the necessity or expediency of a sale; and, if after a full examination, on the oath of the petitioner, or otherwise, it shall appear to the court either that it is necessary or that it would be for the benefit of the ward that the real estate or any part of it should be sold, the court may grant a license therefor, specifying therein whether the sale is to be made for the maintenance of the ward and his family or in order that the proceeds may be put out and invested, as aforesaid.

§ 1993. No such license shall be granted until notice by public advertisement or otherwise, as the court shall order, shall have been given to the next of kin to the ward, and to all persons interested in the estate, to appear and show cause why the same should not be granted.

§ 1994. Every guardian licensed to sell real estate as aforesaid shall, before the sale, give bond to the judge granting the license, with sufficient surety or sureties, with condition to sell the same in the manner prescribed by the judge, and to account for and dispose of the proceeds of the sale in the manner provided by law.

§ 1995. Such guardian shall also, before fixing on the time and place of sale, take and subscribe an oath in substance as follows: That in disposing of the estate which he is licensed to sell, he will use his best judgment in fixing on the time and place of sale, and that he will exert his utmost endeavors to dispose of the same in such manner as will be most for the advantage of all persons interested therein.

§ 1996. He shall also give public notice of time and place of sale, by causing notifications thereof to be posted up in the most public places on the island where the estate to be sold is, and if it be on the island of Oahu, he shall also cause a notice of such sale to be published in such newspaper as the judge of probate shall order, at least fourteen days previous to the day of sale. And upon return sales shall obtain from the judge of probate an order of confirmation of such sales before making conveyances thereof.

§ 1997. A copy of such notification certified by the oath of the guardian, or of the person employed by him to give such notice, being made before any judge of probate, and filed in his office, within one year after the sale, shall be admitted as evidence of the time, place, and manner of giving notice.

§ 1998. No license granted in pursuance of this chapter shall be in force for more than one year after the time of granting the same.

§ 1999. When any minor, insane person, or spendthrift, residing without the Territory, shall be put under guardianship in the country in which he resides, and shall have no guardian appointed in this Territory, the foreign guardian may file an authenticated copy of his appointment in the circuit court, after which he may be licensed by any judge of the said court, to sell the real estate of the ward, in any part of this Territory, in the same manner and on the same terms and conditions as are prescribed in this chapter, in the case of a guardian appointed in this Territory, excepting in the particulars hereinafter mentioned.

§ 2000. Every foreign guardian so licensed to sell real estate, shall take and subscribe the oath required in like case of guardians appointed

in this Territory, and shall give notice of the time and place of sale, and conduct the same in the manner prescribed for guardians appointed here, and may perpetuate the evidence of the notice in the same manner. § 2001. All the proceedings required to be had in any probate court in this Territory, respecting such sale by a foreign guardian, shall be had in the circuit court.

§ 2002. Upon every such sale by a foreign guardian, the proceeds of the sale, or as much thereof as may remain upon the final settlement of the guardianship, shall be considered as real estate of the ward, and shall be disposed of among the same persons as the real estate would have been according to the laws of this Territory, if it had not been sold; and the foreign guardian shall in every case, before making the sale, give bond, with sufficient surety or sureties, to the judge granting the license to sell, with condition to account for and dispose of the same accordingly.

§ 2003. If any person shall appear and object to the granting of any license prayed for under the provisions of this chapter, and if it shall appear to the court or judge that either the petition or the objection. thereto is unreasonable, they may in their discretion award costs for the party prevailing in the case.

§ 2004. No action for the recovery of any estate sold by a guardian under the provisions of this chapter shall be maintained by the ward, or by any person claiming under him, unless it be commenced within five years next after the termination of the guardianship; and no entry shall be made, unless by judgment of law, upon any lands sold as aforesaid with a view to avoid the sale after the expiration of the said five years; excepting only that persons out of the Territory, and minors and others under any legal disability to sue at the time when the right of action or of entry shall first accrue, may commence their action or make their entry at any time within five years after the removal of the disability or after their return to this Territory.

§ 2005. In case of an action relating to any estate sold by a guardian, under the provisions of this chapter, in which the ward, or any person claiming under him, shall contest the validity of the sale, the same shall not be avoided on account of any irregularity in the proceedings, provided it shall appear

First. That the guardian was licensed to make the sale by a judge. of competent jurisdiction.

Secondly. That he gave a bond, which was approved by the judge of probate, in case any bond were required by the court upon granting the license.

Thirdly. That he took the oath prescribed in this chapter.

Fourthly. That he gave notice of the time and place of the sale, as prescribed herein.

Fifthly. That the premises were sold accordingly by public auction, and are held by one who purchased them in good faith.

§ 2006. If in relation to such sale there should be any neglect or misconduct in the proceedings of the guardian by which any person interested in the estate shall suffer damage, such aggrieved party may recover compensation therefor in a suit on the guardianship bond, or otherwise, as the case may require.

§2007. If the validity of any sale made by a guardian under the provisions of this chapter shall be drawn in question by any person claiming adversely to the title of the ward, or claiming under any title that is not derived from or through the ward, the sale shall not be held void on account of any irregularity in the proceedings, provided it shall

appear that the guardian was licensed to make the sale by a judge of competent jurisdiction, and that he did accordingly execute and acknowledge, in legal form, a deed for the conveyance of the premises.

§2008. All sales, exchanges, transfers, gifts, and conveyances of any estate or portion of an estate of any ward of this Territory which may have been made by any guardian of such ward previous to the fourth day of August, A. D. 1851, shall be and the same are hereby confirmed as legal and valid.

NOTE TO CHAPTER 126.

§§ 1956-2008 are C. L., §§ 1343-1395.

Cases in Hawaiian Reports: Lishman v. Perry, 7 Haw., 267; Meek v. Aswan, 7 Haw., 751; Guardianship McGrew, 9 Haw., 427; McGrew v. McGrew, 9 Haw., 480.

TITLE X.

MISCELLANEOUS LAWS.

CHAPTER 127.

CORPORATIONS.

§ 2009. Every corporation created or to be created in this Territory shall have power: 1st, to have succession by its corporate name for the period limited in its charter, and when no period is limited, perpetually; 2nd, to sue and be sued in any court; 3rd, to make and use a common seal, and alter the same at its pleasure; 4th, to hold, purchase, and convey such real and personal estate, and no other, not exceeding the amount limited by its charter, as the purposes of the corporation shall require; 5th, to appoint such subordinate officers and agents as the business of the corporation shall require; 6th, to make by-laws not inconsistent with any existing law, for the management of its property, the election and removal of its officers, the regulation of its affairs, and the transfer of its stock.

§ 2010. In addition to the powers enumerated in the preceding sec tion, no corporation created under the provisions of this chapter shall possess or exercise any corporate powers, except such as shall be necessary to the exercise of the powers so enumerated, and of such subordinate powers as shall be expressly given in the charter granted as hereinafter provided.

§ 2011. No corporation shall be deemed to possess the power of discounting bills, notes, or other evidences of debt, or receiving deposits, or buying gold, silver, bullion, or foreign coin, buying and selling exchange, or issuing notes or other evidences of debt, except so far as the exigencies of the particular business for which it was incorporated shall require. Nor shall any corporation, unless authorized by express enactment of the legislature, issue bills or other evidences of debt for circulation as money.

§2012. At any meeting of any corporation it shall be lawful for the members, in the transaction of business, to vote, either in person or by proxy: Provided, That nothing in this section shall be construed to restrain the power of every corporation to prescribe by its by-laws the mode of voting at meetings of its trustees, directors, or board of managers.

§ 2013. When all the members of any corporation shall be present, either in person or by proxy, at any meeting, however called or noti fied, and shall sign a written consent thereto, on the record of such meeting, the doings of such meeting shall be valid.

§ 2014. The members of such corporation so assembled may elect officers to fill all vacancies then existing, and may act upon such other business as might lawfully be transacted at regular meetings of the corporation.

§2015. Whenever, by reason of the death, absence, or other legal impediment of the officers of any corporation, there shall be no person