CHAPTER 166

An Act to amend the Code of Virginia by adding a section numbered
13-278.1 so as to provide for certain registrations of stock of asso-
ciations organized under the Agricultural Co-Operative Association
Act, and the effect thereof.

[H 423]

Approved February 29, 1952

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia be amended by adding a section numbered
13-273.1, as follows:

§ 13-273. 1. Any association organized with capital stock under this
chapter may accept registrations of such stock in the names of two or
more persons, payable to any one of them, or to any one of them or the
survivor; and any person so named, whether the others be living or not,
may accept dividend payments and withdraw from the association and
receive the amount payable on withdrawal in the same manner and on the
same terms as are allowed by law and the charter and by-laws in case of
any other member or shareholder, and the receipt or acceptance of divi-
dends or amounts payable on withdrawal by the person so paid shall be a
valid and sufficient release and discharge of the association for any pay-
ment so made.