Chap. 141.—An ACT to incorporate the Germania Loan and Land Company.

Approved June 17, 1870.

1. Be it enacted by the general assembly, That Albert Ord-
way, George W. Harris, John 8S. Hoffman, J. Hein, Dr. E. Mor-
witz, F. W. Thomas, KE. Coradi, J. D. Harvey, and such other
persons as they may associate with them, be and they are hereby
declared to be a body politic and corporate by the name and
style of Germania Loan and Land company, and as such shall
have perpetual succession, and a common seal, which it may
renew or alter at pleasure, and may sue and be sued, contract
and be contracted with, and make by-laws and regulations not
inconsistent with the laws of this state or of the United States,
and subject to all general laws now existing or which may be
hereafter enacted, so far as applicable to the same.

2. The capital stock of the company shall be not less than
one hundred thousand dollars, which may be increased at any
time, and from time to time, by the stockholders, either at
regular meetings or at a special meeting, duly called for that
purpose, so that such increase shall not exceed the sum of five
millions of dollars. Said stock shall be divided into shares of
one hundred dollars each, and subscribed under the direction
of a majority of the persons hereinbefore named, or of said
company, after it has been organized.

3. The company shall have power to borrow money and
issue its notes or bonds therefor in such form as it may from
time to time adopt; it shall also have power to lend money,
and take security therefor; to discount, buy, sell, draw, or ne-
gotiate notes, bills of exchange, and bonds or other paper, and
to receive in advance the interest on such transactions; to buy,
have, hold, or sell, on its own account or on commission, real
or personal estate: provided, that nothing herein contained
shall authorize the taking of a greater rate of interest than
that allowed by law.

4, The right of the franchise. granted by this charter shall
vest 80 soon as one hundred thousand dollars of stock is sub-
scribed, and ten dollars per share is paid thereon to the per-
sons named in the first section of this act, or to such agent as
the majority of them may appoint.

As soon as this condition is complied with, there may be a
general meeting of the stockholders for organization, accord-
ing to law. And at such general meeting, or at any subse-
quent meeting, the stockholders may decide as to the terms,
manner, and amount of additional subscription to stock, so
that the same do not exceed, in the aggregate, the amount
hereinbefore provided for.

5. In all meetings of the stockholders, each share of stock
shall entitle the owner to one vote; but no sbare or shares
of stock shall entitle the owner to a vote at any meeting of
stockholders when such stock has been transferred within
thirty days befpre such meeting.

6. The personal liability of any and every stockholder shall
not exceed the araount which may be due, and unpaid to the
company, upon his share or shares of stock.

7. The offices of the company shall be at Richmond, Vir-
ginia, and at such other points within or beyond the limits of
this state, as its business may require.

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