Chap. 297.—An ACT to amend the Charter of the Virginia Fire and
Marine Insurance Company.

Pasaed January 3, 1866.

Whereas it has been represented to the general assembly,
by the directors of the Virginia fire and marine insurance
company, by authority of the stockholders of said company,
that the said company has lost eighty per centum of its capi-
tal, so that the same is now only sixty thousand dollars, and
by their petition have requested that the capital of the said
company may at present be reduced to the said sum of sixty
thousand dollars, while the shares remain at the par value of
twenty-five dollars each :

1. Be it therefore enacted, That the second section of an
act entitled an act amending the charter of the Virginia fire
and marine insurance company, passed the fourth day of
January, one thousand eight hundred and fifty-eight, be
amended and re-enacted so as to read as follows:

Ҥ2. The capital stock of the said corporation shall not
be less than sixty thousand dollars; and they shall have au-
thority to increase the same from time to time, as they may
find it necessary and expedient, to five hundred thousand
dollars; and the par value of the shares shall be twenty-five
dollars each.”
2. Be it further enacted, That the board of directors of
the said company shall call in the certificates of stock hereto-
fore issued by the said company, and issue in lieu thereof
new certificates of stock representing twenty per centum of
the shares held by the stockholders respectively, as near as
may be; and in case the said twenty per centum of the shares
held by any stockholder shall be a fractional,part of one, or
a whole number and a fractional part of one, the shareholder
shall have the option of receiving from the company, in cash,
the proportionate par value of such fractional part of one
share, and relinquishing the same, or of paying the said com-
pany the difference between such proportionate par value of
such fractional part of one share and the par value of one
share, and of receiving a certificate for one share.

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

Chap. 297.—An ACT to amend the Charter of the Virginia Fire and
Marine Insurance Company.

Pasaed January 3, 1866.

Whereas it has been represented to the general assembly,
by the directors of the Virginia fire and marine insurance
company, by authority of the stockholders of said company,
that the said company has lost eighty per centum of its capi-
tal, so that the same is now only sixty thousand dollars, and
by their petition have requested that the capital of the said
company may at present be reduced to the said sum of sixty
thousand dollars, while the shares remain at the par value of
twenty-five dollars each :

1. Be it therefore enacted, That the second section of an
act entitled an act amending the charter of the Virginia fire
and marine insurance company, passed the fourth day of
January, one thousand eight hundred and fifty-eight, be
amended and re-enacted so as to read as follows:

Ҥ2. The capital stock of the said corporation shall not
be less than sixty thousand dollars; and they shall have au-
thority to increase the same from time to time, as they may
find it necessary and expedient, to five hundred thousand
dollars; and the par value of the shares shall be twenty-five
dollars each.”
2. Be it further enacted, That the board of directors of
the said company shall call in the certificates of stock hereto-
fore issued by the said company, and issue in lieu thereof
new certificates of stock representing twenty per centum of
the shares held by the stockholders respectively, as near as
may be; and in case the said twenty per centum of the shares
held by any stockholder shall be a fractional,part of one, or
a whole number and a fractional part of one, the shareholder
shall have the option of receiving from the company, in cash,
the proportionate par value of such fractional part of one
share, and relinquishing the same, or of paying the said com-
pany the difference between such proportionate par value of
such fractional part of one share and the par value of one
share, and of receiving a certificate for one share.

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