Chap. 77.—An ACT changing the shares of the Dismal Swamp land
company from real to personal estate, and for reorganizing said com-
pany by issuing to the present shareholders certificates of stock for the
amount of their respective interests.

Approved February 13, 1877.

Whereas it has been represented to this assembly that the
present organization of the Dismal Swamp land company is
unwieldy and inconvenient in its operation, and likely to in-
crease the difficulties of management; now, therefore,

1. Be it enacted by the general assembly, That the shares
in the Dismal Swamp land company shall henceforth be
deemed, taken, and considered, both in law and in equity, as
persona estate; and as such shall be transferable on the

ooks of the company in such manner and form as the board
of managers shall direct: provided, however, that the right
of marricd persons to curtesy or dower in said shares, exist-
ing on or before the date of the passage of this act, or the
rights of infants already vested, or any other right so oxist-
ing before the passage of this act, depending on the character
of said shares as real estate, shall not be prejudiced oraffected
by the change in the character of said shares from real to
personal estate; and that any right in the stock or shares
issued under this act for any interest in shares held by mar-
ried women, and acquired before the passage of this act, in
the event of a sale or transfer of such stock or shares at any
time during coverture, shall be barred or relinquished only
in the manner required by law in regard to real estate, in
addition to being transferred on the books of the company
in the manner and form directed by the said board of mana-
gers. But the reservations herein contained in regard to the
rights of married persons and others, depending on the cha-
racter of the said shares as real estate, to the date of the
passage of this act, shall not be deemed to apply to such stock
or any interest therein which shall or may be acquired after
the passage of this act.
2. That the said board of managers shall divide up the
shares of the said Dismal Swamp land company as they ex-
isted before the passage of this act, into shares of the value
of fifty dollars.each, in such manner and upon such valuatiou
of said existing shares as they shall determine, and issue cer-
tificates of stock for such new shares to the owners of said
existing shares, according to the amount and in full of their
respective interests therein. ‘A majority of the holders of
such shares shall constitute a quorum for the transaction of
business.

3. That the real estate, which before the passage of this
act was held by the Dismal Swamp land company, by a board
of managers thereof, under the style and title of the president
and managers of the Dismal Swamp land company, shall
continue in the name of the said president and managers,
who shall hold the said real estate for the purposes of incor-
poration, with full power to dispose of said real estate, or any
part thereof, by sale or lease, and make and execute a deed
or deeds therefor, under such rules and regulations as shall
be prescribed by the stockholders.

4, This act shall be in force from and after its passage.