Chap. 867.—An ACT to authorize building and loan associations and other similar
institutions to change trustees In decds of trust, and conterring the same
powers and rights upon the substituted trustees as were vested in the original
trustees.

Approved March 3, 1898.

1. Beit enacted by the general assembly of Virginia, That any build-
ing and loan association or any institution of the like kind, the conduct
of whose business requires a trustee or trustees, shall have the right to
elect such trustee or trustees at such time and for such term of office as
may be prescribed by the charter and by-laws and to continue to elect
such trustee or trustees as the terms of office successively expire during
the existence of such association or institution, and all the rights, titles,
duties and obligations which may be imposed upon any such trustce or
trustees by reason of holding such office, or may come to him or them
by or through any deed or other instrument of w riting, or otherwise
howsoever, shall at the expiration of said term of office pass to the
successor or successors in office, and all the rights of such association or
institution required to be exercised by or through such trustee or trus-
tees, whether it be the sale of property or some other act or acts, shall
be done, enforced and carried out by the trustee or trustees in office at
the time when such rights are exercised by the said association or in-
stitution.

2. That all sales or conveyances heretofore or hereafter made by a
trustee or trustees appointed in the manner designated above shall be as
valid and binding as though the sale or sales, conveyance or convey-
ances had been made by the trustee or trustees named in the deed or
deeds of trust.

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