Chap. 80.—An ACT to amend and re-enact section 4 of an act entitled an act to
provide for the organization or admission and the regulation and taxation of
incorporated mutual insurance companies other than life, providing a penalty
for any violation hereof and repealing all acts or parts of acts in conflict
herewith, approved March 16, 1920, so as to provide how the charters of such
and other similar companies may be amended. [S B 146]

Approved March 2, 1934

1. Be it enacted by the General Assembly of Virginia, That section
four of an act entitled an act to provide for the organization or admis-
sion and the regulation and taxation of incorporated mutual insurance

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and repealing all acts or parts of acts in conflict herewith, approved
March sixteenth, nineteen hundred and twenty, be amended and re-
enacted so as to read as follows:

Section 4. Such articles of incorporation, executed in duplicate,
shall be presented in terms or in vacation to the judge of the circuit
court of the county, or of the circuit, corporation or chancery court
of the city wherein the principal office of the corporation is to be
located. Such judge shall thereupon certify thereon whether in his
opinion, such certificates are signed and acknowledged in accordance
with the requirements of this act, and if not, in what respects they are
faulty. As soon as the certificates are so indorsed by the judge and
the fee, if any, required by law to be paid to the State upon the charter
shall have been duly paid, they together with the receipt for such
payment, may be presented to the Commissioner of Insurance for
the State who shall examine same, indicate on each whether he recom-
mends or disapproves the issuance of a charter, and, in case of dis-
approval, his reasons for same. He shall file one copy and forward
the other to the State Corporation Commission which shall ascertain
and declare whether the applicants have, by complying with the re-
quirements of the law, entitled themselves to the charter and shall
issue or refuse the same accordingly. When so issued the certificate,
with all indorsements, together with the order thereon of the State
Corporation Commission, shall be certified by the said Commission,
as required by law, to the Secretary of the Commonwealth and by the
last named officer recorded in the charter records of his office, who
shall thereupon certify the same to the clerk of the circuit court of the
county, or the corporation court of the city wherein the principal office
of such corporation is to be located, or to the clerk of the chancery
court of the city of Richmond, when such principal office is to be
located in said city, who shall likewise record the same in a book
to be provided and kept for the purpose in his office and when so
recorded, the fact of such recordation shall be endorsed upon the said
certificate and the said certificate, with all endorsements thereon, shall
be returned by the said clerk to the State Corporation Commission and
lodged and preserved in the office of its clerk. Such articles of
incorporation may be amended in the manner provided for other cor-
porations in which no capital stock 1s issued or as may be provided
in such articles and any such amendment shall be approved, recorded,
and filed as in the case of the original articles; provided, however,
that the board of directors of any company incorporated under the
provisions of this act, or the board of directors of any company incor-
porated by the General Assembly of Virginia prior to the tenth day
of July, nineteen hundred and two, and authorized to conduct any
business, or to carry on any object or purpose permitted by this act,
shall have power to change the name of such company by a resolution
adopted at any regular or special meeting of the board, provided, how-
ever, that any new name so adopted shall contain the word “mutual,”
and shall be approved by the State Corporation Commission, and shall

be such as to distinguish it from any other corporation engaged in a
similar business, or promoting, or carrying on similar objects or pur-
poses in this State. Upon adoption of such resolution, a certified copy
thereof, signed by the president and secretary of such company and
sealed with its corporate seal, shall be filed in the office of the State
Corporation Commission, and a certified copy recorded in the clerk’s
office in which deeds are recorded, of the county or city wherein is
located the principal office of the company; and the secretary of the
company shall forthwith mail a copy of said resolution to each member
of the company, to his last known post office address as shown by the
books of the company.

2. An emergency existing, this act shall be in force from its passage.