Chap. 128.—An ACT to incorporate the Danville Female College in
the City of Danville.

Approved March 17, 1876.

Whereas it is represented to the general assembly of Vir-
ginia, that sundry citizens of Danville and vicinity, have
united for the purpose of establishing in the said town of
Danville, Virginia, an institution of learning, as a joint-stock
institution, to be called the Danville female college, and to
be under the general management and supervision of a board
of trustees herein provided; therefore,

1. Be it enacted by the general assembly, That J. R. Pace,
W. E. Boisseau, C. H. Hickey, T. J. Talbott, W. W. Worsham,
T. B. Fitzgerald, W. P. Bethell, Witcher Jones, W. L. Rob-
inson, C. H. Conrad, F. B. Graveley, C. M. Flinn, J. G. Penn,
J. R. Jossling, and their associates, be and they are hereby
constituted a body politic and corporate, under the name of
The Danville Female College; by which name they shall
have perpetual succession and a common seal; may sue and
be sued; contract and be contracted with; implead and be
impleaded in any court of law or equity, with power to lease,
purchase, receive, and hold any lands, tenements, goods,
chattels, and moneys for the use and benefit of such institu-
tion: provided, that the capital stock of said institution shall
not be less than three thousand dollars nor more than fifty
thousand dollars; which shall be divided into shares of twenty
dollars each. oe

2. A general meeting of the stockholders, for the adoption
of by-laws, for the government of the institution, and for
the election of a board of trustees, shall be held in the town
of Danville, as soon after the passage of this act as shall be
convenient, at such time and plate as the said corporators,
or a majority of them, shall appoint: provided, that not less
than one hundred and fifty shares of the capital stock be
first subscribed.

3. The affairs of the institution shall be managed by thir-
teen trustees, to be elected annually by the stockholders, by
ballot, in general meeting, at such times as they shall, by
their by-laws, appoint; but should the trustees not be elected
in any year on the day appeinted for that purpose, this cor-
poration shall not for such cause be dissolved; but the trus-
tees in office shall continue in office until a new election be
thereafter effected, a8 may be provided by the by-laws. The
number of trustees may be increased, at the option of the
said stockholders in general meeting: provided, the number
shall not exceed twenty.

4, It shall be the duty of the trygtees and their successors,
to call a general meeting of the stockholders of said college
at some convenient period, biennially or oftener, when a ma-
jority of the board of trustees, for the time being, or at least
twelve of the said stockholders, not members of the board
of trustees, shall deem such general meeting necessary, and
shall request the same to be called, one week’s notice being
given of all such general meetings of stockholders, by ad-
vertisement ip some paper printed in the town of Danville.
At all such general meetings of stockholders, a majority of
the stock of said college shall be necessary to constitute a
quorum for the transaction of business; and all persons hold-
ing shares of said stock may vote in said general meeting
either in person or by proxy, made in writing, according to
such regulations as shall be prescribed in relation thereto by
the board of trustees. The said general meeting shall have
power to revise, alter, or modify the rules, regulations, and

y-laws prescribed by the board of trustees for the govern-
ment of said college, and to control and direct, through the
board of trustees, the acquisition and disposition of all prop-
erty held for the use of said college, as well as the general
management and economy of said college.

3. It shall be the duty of the trustees of said Danville
female college to elect a treasurer, a corps of teachers, and
all necessary officers of said college, and make such rules,
regulations, and by-laws for the government of the institu-
tion, as to them may seem fit, not inconsistent with the laws
of the state or of the United States. A majority of the
trustees shall constitute a quorum for the transaction of bu-
siness; and any vacancy in the said board of trustees, occa-
sioned by death, resignation, or otherwise, shall be filled by
appointment of surviving trustees until the vacancy is filled,
or a new election held by a general meeting of the stock-
holders. And they may remove any member of their body—
two-thirds of the whole number being present, and concur-
ring.

6. The treasurer shall receive all moneys accruing to the
college, and property delivered to his care, and shall pay or
deliver the same to the onger of the board of trustees. Be-
fore entering upon the discharge of his duties, he shall give
bond, with such security and in such penalty as the board
may direct, made payable to the trustees for the time being,
and to their successors, and conditioned for the faithful per-
formance of the duties of his office, under such rules and
regulations as the board may adopt. And for any delinquency
on the part of said treasurer, a recovery may be had against
the said treasurer and his securities, his or their executors
or administrators, by motion, on twenty days’ notice, in any
court of record in this commonwealth.

7. The said corporators and their associates, are hereby
authorized to raise, by joint-stock subscription, a sum not
less than three thousand dollars, nor more than fifty thou-
and dollars, to be divided into shares of twenty dollars each;
and shall, from time to time, declare such dividends on the
same as the net profits oOf the institution may justify; and
shall also have power to collect the subscriptions to said
stock in the manner now provided by law for collections of
subscriptions to joint-stock companies.
8. No persen shall sell or transfer his stock in said college
to any person not already a stockholder, without first offer-
ing the same to the stockholders through the board of trus-
tees; and all individual stock in said college shall be deemed
personal estate, and as such, shall pass to purchasers, éxecu-
tors, and administrators.

9. The board of trustees, in connection with the president
and professors of the college, shall have power to confer such
diplomas and literary titles as they may think best calcu-
lated to promote the cause of female education.

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