Chap. 417. An ACT to amend and re-enact section 3813 of the Code of Virginia.
[H B 292}
Approved March 21, 1924.

1. Be it enacted by the general assembly of Virginia, That section
three thousand, eight hundred and thirteen of the Code of Virginia, be
amended and re-enacted to read as follows:
Section 3813. When judge may continue directors, trustees, or ap-
point receivers to take charge of affairs and make final settlement, and
appoint receivers for the purposes of special suits; court’s powers therein.
When any corporation organized under the laws of this State shall
be dissolved in any manner whatever, the circuit court of the county,
or the circuit, corporation, or other court having equitable jurisdiction
in the city where its principal office is located, on application of any
creditors or stockholder of such corporation, at any time, may either
continue such directors, trustees, as aforesaid, or appoint one or more
persons to be receiver or receivers of and for such corporation, to take
charge of the estate or effects thereof, and to collect the debts and prop-
erty due and belonging to the company, with power to prosecute and
defend, in the name of the corporation or otherwise, all such suits as
may be necessary or proper for the purpose aforesaid, and to appoint
an agent or agents under him or them, and to do all other acts which
might be done by such corporation, if in being, that may be necessary
for the final settlement of the unfinished business of the corporation;
and the powers of such trustees or receivers may be continued as long
as the court shall think necessary for the purposes aforesaid. The
court shall have jurisdiction of said application and of all questions
arising in the proceedings thereon, and may make such orders and de-
crees and issue such injunctions therein as justice and equity shall re-
quire.

In any case wherein the foregoing provisions of this section cannot
be complied with, upon the motion of any party having an interest in
and desiring to bring before any circuit, corporation or other court hav-
ing equitable jurisdiction, any such corporation, accompanied by the
affidavit of the party making the motion, in any suit pending in said
courts, that he has made diligent effort to cbmply with the foregoing
provisions of this section, and that the foregoing provisions of this sec-
tion cannot be complied with, and that it is necessary that a receiver
be appointed for such corporation and brought before the court in such
suit, the court in such case shall have jurisdiction to appoint a receiver
for such corporation to take charge of the affairs of said corporation, and
to protect and defend its interests for the purposes of that suit only.
Said receiver shall hold all money that may come into his hands in said
suit, subject to the order of the court in such cause. The court in any
such cause being satisfied from the evidence introduced before it that
the foregoing provisions of this section cannot be complied with, may
make such orders and decrees in such cause as justice and equity may
require. In any case under this section the court shall require that the
receiver appointed do enter into bond in double the amount of any sum
that may come into his hands, with security to be approved by the
clerk of said court, and that said receiver shall deposit the money in
some solvent bank to be designated by the court appointing such re-
ceiver, subject to the order of such court.