Chap. 259.—An ACT toamend and confirm the charter of the
Mutual annuity company, granted by the judge of the circuit
courtof Augusta county, the 13th day of June, 1889, and amended
by order of said judge made the 13th day of July, 1890.

Approved February 16, 1892.

Be it enacted by the general assembly of Virginia,
That the charter of the Mutual annuity company, granted
by the order of William McLaughlin, judge of the cir-
cuit court of Augusta county, made on the thirteenth day
of June, eighteen hundred and eighty-nine, and amended
by an order of the said judge made on the thirteenth day
of July, eighteen hundred and ninety, be amended and
confirmed so that the provisions of said charter shall be
as follows, to-wit:

1. That M. Erskine Miller, Edward Echols, James
Bumgardner, junior, George C. Jordan, Joseph B. Wood-
ward, Charles L. Cook, Asher Ayres and Charles L. Wel-
ler, and such persons as may be associated with them,
and their successors, are hereby created and constituted a
body politic and corporate, by the name of the Mutual
annuity company, and by such name shall have perpet-
ual succession, may contract and be contracted with, sue
and be sued, make and use a common seal, and alter the
same at pleasure, and make and maintain such by-laws,
rules and regulations for the government of said corpora-
tion and the conduct of its business, as may be deemed
necessary, not in conflict with the laws or the constitution
of this state or of the United States.

2. The capital stock of said company shall not be less
than twenty-five thousand dollars nor more than five mil-
lion dollars, to be divided into shares of one hundred
dollars each, to be paid up in such instalments and upon
such terms as may be prescribed by the by-laws of said
company, and said company may issue stock preferred as
well as to the payment of dividends thereon, as in re-
gard to being secured by the assets of the company, and
may also issue common stock, the terms upon which such
preferred stock and common stock shall be issued, to be
determined by the board of directors of the company.
The stock of said company shall be personal property,
and shall be transferable on the books of the company in
person or by attorney duly authorized in writing, and in
all meetings of the stockholders, each stockholder shall
be entitled to one vote for each share of stock held by
him, and the stockholders shall be liable only for the pay-
ment of the full amount of stock subscribed for by them,
and a stockholder holding fully paid up stock shall not
be liable to any contribution or any debts, liabilities, or
obligations of said company. The said company shall
have a lien on the stock of any stockholder for the
amount due by him at any time to said company on said
stock. |

3. The principal office of the company shall be located
in Staunton, Virginia.

4. The officers of the company who are to manage the
affairs of the company, shall be the officers who have been
duly elected and constituted in accordance with the pro-
visions of the original charter of said company, and the
amended charter of said company, and their successors
who shall be duly elected in accordance with the pro-
visions of said original charter and amended charter and
of this charter; and the directors of. said company may
appoint such subordinate officers and agents as they may
deem necessary for the proper dizpatch of the business of
the company.

5. The said company is hereby authorized to insure
lives; to purchase annuities for cash,.or for bonds or other
obligations of the company; to sell annuities for cash or
for approved securities; to purchase, hold and dispose of
property, real and personal, as may be necessary in con-
ducting the life insurance and annuity business; to
borrow money on the security of real estate, or on the
bonds uf the company or otherwise; to invest its funds or
lend the same upon the security of stock, bonds or other
security, real or personal, or to use the same in the pur-
chase of annuities properly secured or otherwise, and gen-
erally to transact the business of a Jife insurance company,
and of an annuity company; and to purchase, subscribe
for, and hold stock in any other corporation.

6. All taxes and dues from said company to the state of
Virginia shall be paid in lawful money of the United
States, and not in coupons.

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