Chap. 109.—An ACT to amend and re-enact an act approved Novem-
ber 5, 1870, entitled an act declaring the Shenandoah river a lawful
fence within the county of Clark.

Approved February 14, 1882.

1. Be it enacted by the general assembly of Virginia, That
the first section of an act entitled an act declaring the Shen-
andoah river to be a lawful fence in the county of Clark,
approved November fifth, eighteen hundred and seventy, be
amended and re-enacted so as to read as follows:

§1. That the Shenandoah river be and the same is hereby
declared to be a lawful fence in the county of Clark, and that
said river and the branches thereof be a lawful fence as to
all cultivated islands lying in said river within the borders of
said county: provided, that when a public road runs alon
the bank of said river, gates may be erected across said road!
in the fences running at right angles to the river.

2. This act shall be in force from its passage.
Chap. 109.—An ACT to incorporate the Life Investment and Guar-
antee Society.

Approved April 22, 1882.

1. Be it enacted by the general assembly of Virginia, That
E. A. Legrand, Charles Legrand, Cesar De Monte Cello,
William Davis, and Oscar De Grammont, and their associ-
ates and successors, are hereby created a body politic and
corporate under the title of The Life Investment and Guar-
antee Society, for the purpose of providing a means by which
persons dealing with the society may insure for themselves,
their families, their relatives, and their friends, a proportion-
ate annual income during their lifetime, and by that title
shall act and contract, and be recognized in all courts and
places, and may sue and be sued, may take and acquire real
estate or other property by gift, grant, purchase, or devise,
and hold, convey, mortgage, or dispose of the same, and shall
have a corporate seal, and shall be vested with the general
powers and rights of corporations.
2. That the capital stock of said company, to be known
as the guarantee capital, shall be one hundred thousand dol-
lars, divided into shares of one hundred dollars each; that
the business of said society shall be conducted by a board of
directors, to consist of not less than five nor more than
twenty-five, as the by-laws may from time to time provide,
and the acts of a majority of the board, or such quorum for
the transaction of business as the by-laws of the society may
provide, shall be the acts of the board; and that the board of
directors shall be elected annually from amongst the share-
holders, in such a manner and at such a time and place as
the by-laws of the society may provide; that E. A. Legrand,
Charles Legrand, Cesar De Monte Cello, William Davis, and
Oscar De Grammont shall be the first directors of the society,
to hold office until their successors are duly elected; that
there shall also be elected or appointed, as shall be provided
by the by-laws, a president, secretary, treasurer, and such
other officers, clerks, and servants as may be required, whose
term of service shall be one year, or until their successors
are duly elected or appointed, as may be provided by the by-
laws, whose duties and compensation shall be defined and
fixed, from time to time, by resolution of the board of direc-
tors.

3. That the first directors named in this act shall open
books of subscription for shares of the guarantee capital of
the society, and may proceed to carry out its objects, when-
ever the whole amount of the capital shall have been sub-
scribed, under regulations to be prescribed by said managers,
and twenty-five thousand dollars have been paid in cash.

4. The hoard of directors shall have power to make by-
laws for the government of the society and its officers, and
the transaction of its business, not inconsistent with this act
nor with the laws of this state or of the United States; and
to alter and amend the same from time to time, and they
may provide for an increase of the guarantee capital, from
time to time, as the same may be required.

5. That the real and personal property of the society shall
be liable to taxation in the same manner and to the same
extent as the property of an individual, but the subscribers
or holders of the shares of the guarantee capital shall not be
liable to any additional tax on such shares.

6. This act shall be in force from its passage.
Chap. 109.—An ACT to amend and re-enact an act approved Novem-
ber 5, 1870, entitled an act declaring the Shenandoah river a lawful
fence within the county of Clark.

Approved February 14, 1882.

1. Be it enacted by the general assembly of Virginia, That
the first section of an act entitled an act declaring the Shen-
andoah river to be a lawful fence in the county of Clark,
approved November fifth, eighteen hundred and seventy, be
amended and re-enacted so as to read as follows:

§1. That the Shenandoah river be and the same is hereby
declared to be a lawful fence in the county of Clark, and that
said river and the branches thereof be a lawful fence as to
all cultivated islands lying in said river within the borders of
said county: provided, that when a public road runs alon
the bank of said river, gates may be erected across said road!
in the fences running at right angles to the river.

2. This act shall be in force from its passage.
Chap. 109.—An ACT to incorporate the Life Investment and Guar-
antee Society.

Approved April 22, 1882.

1. Be it enacted by the general assembly of Virginia, That
E. A. Legrand, Charles Legrand, Cesar De Monte Cello,
William Davis, and Oscar De Grammont, and their associ-
ates and successors, are hereby created a body politic and
corporate under the title of The Life Investment and Guar-
antee Society, for the purpose of providing a means by which
persons dealing with the society may insure for themselves,
their families, their relatives, and their friends, a proportion-
ate annual income during their lifetime, and by that title
shall act and contract, and be recognized in all courts and
places, and may sue and be sued, may take and acquire real
estate or other property by gift, grant, purchase, or devise,
and hold, convey, mortgage, or dispose of the same, and shall
have a corporate seal, and shall be vested with the general
powers and rights of corporations.
2. That the capital stock of said company, to be known
as the guarantee capital, shall be one hundred thousand dol-
lars, divided into shares of one hundred dollars each; that
the business of said society shall be conducted by a board of
directors, to consist of not less than five nor more than
twenty-five, as the by-laws may from time to time provide,
and the acts of a majority of the board, or such quorum for
the transaction of business as the by-laws of the society may
provide, shall be the acts of the board; and that the board of
directors shall be elected annually from amongst the share-
holders, in such a manner and at such a time and place as
the by-laws of the society may provide; that E. A. Legrand,
Charles Legrand, Cesar De Monte Cello, William Davis, and
Oscar De Grammont shall be the first directors of the society,
to hold office until their successors are duly elected; that
there shall also be elected or appointed, as shall be provided
by the by-laws, a president, secretary, treasurer, and such
other officers, clerks, and servants as may be required, whose
term of service shall be one year, or until their successors
are duly elected or appointed, as may be provided by the by-
laws, whose duties and compensation shall be defined and
fixed, from time to time, by resolution of the board of direc-
tors.

3. That the first directors named in this act shall open
books of subscription for shares of the guarantee capital of
the society, and may proceed to carry out its objects, when-
ever the whole amount of the capital shall have been sub-
scribed, under regulations to be prescribed by said managers,
and twenty-five thousand dollars have been paid in cash.

4. The hoard of directors shall have power to make by-
laws for the government of the society and its officers, and
the transaction of its business, not inconsistent with this act
nor with the laws of this state or of the United States; and
to alter and amend the same from time to time, and they
may provide for an increase of the guarantee capital, from
time to time, as the same may be required.

5. That the real and personal property of the society shall
be liable to taxation in the same manner and to the same
extent as the property of an individual, but the subscribers
or holders of the shares of the guarantee capital shall not be
liable to any additional tax on such shares.

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