Chap. 92.—An ACT to amend and re-enact an act passed December
13th, 1858, entitled an act to incorporate the Virginia State Agricul-
tural Society.

Approved February 15, 1877.

1. Be it enacted by the genersl assembly, That the act
passed December thirteenth, eighteen hundred and fifty-.
three, entitled an act to incdrporate the Virginia state agri-
cultural society, be umended and re-enacted so as to read as
follows: .

§ 1. Be it enacted by the general assembly, That the Vir-
ginia state agricultural society is hereby constituted a body
politic and corporate, under the name and style of The Vir-
ginia State Agricultural Society; and the corporators sball
be the president and other elective officers of the society now
in office, in pursuance of their election under the provisions
of the constitution of the society, and their successors, to-
gether with the life members of the society now holding
certificates as such, and all others who may hereafter be-
come life members.

§ 2. That the said society may and shall be entitled to hold
Jands not exceeding one thousand acres, and other property,
or capital not exceeding two hundred thousand dollars: pro-
vided, that sixty-four acres held and owned by the society
as its fair grounds shall be exempt from all unpaid and future
taxation, and the property now held by the said society shall
be exempt from taxes heretofore accrued or hereafter accru-
ing, subject to the right of the legislature at any time to re-
voke this exemption.

§ 3. That the society may sue and ‘be sued, as other corpo-
rate bodies, and may obtain loans, and pledge its property
by deed or otherwise, as security therefor, when authorized
by a vote of a general meeting of the society on recommenda-
tion of the executive committee; or the said society may in
like manner issue its bonds to an amount not exceeding
twenty thousand dollars, the principal payable at a date not
exceeding ten years, and the interest not exceeding eight per
centum per annum, payable semi-annually; and the said
bonds shall, from the date of their issue, operate as a lien on
the real estate of the society.

2. This act sball be in force from its passage, and shall be
subject to any alteration, amendment, or modification, at the
pleasure of the general assembly.