Chap. 373.—An ACT to prescribe the manner by which any internal
improvement company may elect a part of its board of directors for
a period of more than one year.

Approved March 2, 1888.

1. Be it enacted by the general assembly of Virginia, That
it shall be lawful for any internal improvement company to
classify and arrange its directors in such manner that one-
third of the said directors shall hold their office for the term
of one year, one-third for two years, and one-third for three
years. Vacancies in each class shall be filled as now pro-
vided by law, and each director shall hold office until his suc-
cessor shall be appointed. .

2. Any company desiring to avail itself of the provisions
of this act, may do so by filing notice of its intention of so
doing, with the commissioner or commissioners of railroads
sixty days prior thereto, and upon such notice, a meeting of
the stockholders of said company shall be called in such man-
ner as is now provided by law or by the laws of such com-
pany, to elect and classify its directors as herein authorized.
In such meeting at least two-thirds of the stock shall be
necessary to elect any director for the term of more than one
year.

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3. After such election and classification, the names and
terms of the directors shall be communicated to the commis-
sioner or commissioners of railroads, who shall publish the
same, together with the notice filed with him, in his next
annual report.

4. All acts and parts of acts inconsistent or in conflict with
this act are hereby repealed.

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