Chap. 340.—An ACT to amend section 2 of chapter 56 of the Code of
Virginia, edition of 1873, imposing restrictions upon incorporated
companies. oe

Approved April 4, 1877.

1. Be it enacted by the general assembly, That section two
of chapter fifty-six of the Code of Virginia, edition of eigh-
teen hundred and seventy-three, be amended and re-enacted
so as to read as follows:

§ 2. No incorporated company shall hold any more real es-
tate than is proper for the purposes for which it is incorpo-
rated; nor employ its capital, money, or effects, or otherwise
engage in transactions or business not proper for those pur-
poses. One company shall not “bubscribe to, purchase, or
otherwise acquire the stock of another company, unless it be
special allowed by law, and except as permitted by section
three of this chapter. If any company shall acquire stock
in any other company, contrary tothe provisions of this act,
it shall not be lawful for it to vote such stock in any general
or special meeting of stockholders.

2. This act shall be in force from its passage.