CHAPTER 197

An Act to amend and reenact §§ 55-89 and 55-90 of the Code of Virginia,
relating to agreements for conditional sales or leases, or reservation
of title or lien, with respect to railroad equipment. tH 497]

Approved March 5, 1952

Be it enacted by the General Assembly of Virginia:

1. That §§ 55-89 and 55-90 of the Code of Virginia be amended and
reenacted as follows:

§ 55-89. * Agreements as to railroad equipment.—No agreement
for the sale or lease of locomotives, cars or other rolling stock * to be used
in or about the operation of any railroad, operating as a public service
corporation, which provides that title shall remain in the vendor or lessor
until performance of some condition, shall be valid * as to creditors of
the vendee or lessee who acquire a lien * or as to purchasers from
the vendee or lessee, for value, without notice, until and except from the
time the agreement * is * filed in the office of the State Corporation Com-
mission, and unless each locomotive, car or other piece of rolling stock be
plainly and permanently marked with the name of the vendor or lessor,
on both sides thereof, followed by the word “owner.” Upon the satisfac-
tion or discharge of any such agreement, the railroad shall promptly file
with the Commission the instrument of satisfaction or discharge. The
clerk of the Commission shall keep a proper index of such agreements and
instruments. Such agreements shall not be subject to the requirements
of § 55-88. ,

§ 55-90. Docketing * agreements for conditional sales or reservation
of title or lien.—The clerk shall docket the writings mentioned in * § 55-88
by setting out the * particulars of the contract mentioned in § 55-88 in a
well bound book, to be called the ‘‘Conditional Sales Book,” and shall index
the same thereon or in a separate general index book kept for that purpose,
alphabetically, in the name of both the vendor and the vendee, for which
service he may charge a fee of fifty cents. No tax shall be charged thereon.
The clerk shall, after having docketed such contract, return the same to
the party filing the same for docketing.

2. An emergency exists and this act is in force from its passage.