Chap. 73.—An ACT to amend an act entitled an act to incorporate
the Richmond Theological Seminary, in the city of Richmond.

Approved February 5, 1886.

1. Be it enacted by the general assemblv of Virginia, That
sections one, two and four of an act entitled an act to incorpo-
rate the Richmond Theological Seminary, in the city of Rich-
mond, approved February tenth, eighteen hundred and seven-
ty-six, be amended and re-enacted so as to read as follows:

§1. Be it enacted by the general assembly of Virginia, That
H. L. Moorhouse, Gardner R. Colby, Joseph B. Hoyt, Wil-
liam A. Cauldwell, Henry K. Ellyson, James H. Holmes,
Richard Wells and A. E. Dickinson (trustees), the successors
of Nathan Bishop, Albert B. Capwell, Joseph B. Hoyt, Wil-
liam A. Cauldwell, Henry K. Ellyson, James H. Holmes,
Richard Wells, Alfred E. Dickinson and Stephen Woodman,
which nine last persons were incorporated into a body politic
and corporate by the act to which tls is an amendment, b
the name and style of the Richmond Institute, shall, as such
successors, continue and bea body politic and corporate, and
they and their successors, as such body politic and corporate,
shall hereafter be-known as The Richmond Theological Semi-
nary, and by that name shall have perpetual succession and a
common seal, may sue and be sued, plead and be impleaded,
with power to purchase, receive and hold to them and their
successors forever, any lands, tenements, rents, moneys, trust
or endowment funds, goods and chattels of what kind soever,
which may have been purchased by, or may have been or
which shall be devised, bequeathed or given to the said The
Richmond Institute, or which may hereafter be purchased by
or be devised, bequeathed or given to them, under the name
of The Richmond Theological Seminary, for the use of the
said literary institution or seminary of learning, and to lease
or rent the same whenever most conducive to the interests of
said institution, and to sell the same, whenever a majority of
the corporators, who are hereby designated as trustees for the
time being, shall authorize the sale; such authorization of sale
to be made by a resolution in writing, after notice to each of
the trustees then living, that a meeting of them will be con-
vened for the purpose of deciding whether such sale shall be
made or not. The lands, goods and chattels so authorized to
be held, shall not exceed in amount or value, at any one time,
five hundred thousand dollars. The said corporators or trustees
shall have no power to encumber by mortgage or tfust deed
the said property for any purpose whatever, and they are for-
bidden by this charter to use the principal of any endowment
funds of the institution for its current expenses. The said
corporators or trustees may vote by proxy or in person, as
may be determined by them by a by-law to be spread upon
the record of their proceedings, such by-law, when once
adopted, not to be changed unless at least two-thirds of the
then living trustees or corporators shall vote to change it.
§ 2. The said trustees or corporators, and their successors,
shall have power to appoint a president, treasurer, librarian,
professors, and such other officers as they may deem proper;
to fix the term of office of all trustees, and provide for the elec-
tion of their successors; and to make and establish, from time
to time, such by-laws, rules and regulations, not contrary tc
the laws of Virginia, or of the United States, as they may deem
proper for the good government of said seminary of learning.
A majority of the trustees or corporators shall constitute a lega!
quorum or board for the transaction of business; and any va-
cancy or vacancies among the trustees or corporators, occa-
sioned by death, resignation or legal disability, shall be sup-
plied by appointment of the board. The said trustees or cor-
porators, or their successors, shall have power to increase thei
number to eleven, if they desire to do so; and, in that event,
they shall elect by vote of the board the persons necessary tc
make such eleven trustees or corporators. No person shall be
eligibJe, as trustee or corporator, either to make such increase
or to fill any vacancy fn the trustees, occasioned by death o1
otherwise, unless he be a member in good standing of a regu-
lar Baptist church. The said trustees or corporators, or thei
successors, shall have power, if they see fit to do so, to create
an executive board, consisting of five of their number, whict
executive board, (any three of them being present) shall have
authority to transact all the ordinary business of the corpora.
tion, except the purchase or conveyance of real estate, the in.
vestment of funds, the appointment of and removal of officer:
and teachers, or fixing the amount of their salaries. The trus.
tees or corporators, or their successors, with the concurrence
of the faculty of said seminary, shall. have power to confer the
degree of Bachelor of Divinitv upon full course graduates o
the institution; and the honorary degree of Doctor of Divinity
upon any person of suitable attainments, the concurrence o
the faculty, in either case, to be spread upon the record of thei
proceedings.

§ 4. The treasurer shall receive all moneys accruing to the
said seminary of learning and property delivered to his care
and shall pay or deliver the same to the order of the board
The treasurer, before entering upon the discharge of his dutie:
as treasurer of the Richmond Theological Seminary, shall give
bond, with such security and in such penalty as the board may
direct, to be made payable to the trustees or corporators for the
time being, and their successors, and conditioned for the faith
ful performance of his duty, under such rules and regulation:
as may be adopted by the board. And the said trustees or cor
porators, or their successors, or the Richmond Theologica
Seminary, suing in the name of such trustees or corporators
or their successors, may obtain judgment on such bond, or fo
any special delinquency of any treasury of The Richmonc
Theological Seminary, or on any bond heretofore given by any
treasurer of The Richmond Institute, on motion in any cour
of record of the city of Richmond, against such treasurer anc
his surety or sureties, his or their executors or administrators,
upon giving ten days’ notice of such motion.
2. This act shall be in force from its passage.