Chap. 158.—An ACT to incorporate the New Masonic Temple Association
of Bridgewater, Virginia.

Approved June 27, 1870.

W hereas, it is represented to the general assembly of Vir-
inia that John W. F. Allemong, Philander Herring, John W.
acobs, James F. Lowman, and William Pifer, and sundry

others, did, in the year eighteen hundred and sixty-six, as a
joint stock association, agree to take and pay for stock in said
association for the purpose of erecting a public building in
Bridgewater, for business rooms, to be rented out or to be
used for such other purposes as the said association might or-
der and direct; said building to be known by the name of The
New Masonic Temple of Bridgewater, Virginia:

And whereas, the said parties and their said associates, be-
lieving that there was a general law authorizing the same, did
proceed, in the year aforesaid, to issue and take stock in said
association to the amount of about six thousand dollars, and
did erect the building aforesaid on alot in said town, pur-
chased by them for that purpose, and have ever since used the
said building, under the name of The New Masonic Temple,
for the purposes aforesaid :

And whereas, the said parties and their said associates have
discovered that there is no such general law authorizing such
associations, and the issuing and sale of stock for the purposes
aforesaid, as they supposed, they now desire an act of incor-
poration granting to them full power to consummate the ob-
jects and purposes of their said association, and also to impart
validity to what they have already done, and especially to the
stock which they have so issued, taken, and sold in shares of
ten dollars each, as aforesaid: therefore,

1. Be it enacted by the general assembly of Virginia, That
John W. F, Allemong, Philander Herring, John W. Jacobs,
James F. Lowman, and William F. Pifer, and their associates
be and they are hereby appointed a body politic and corpo-
rate, by the name of The N ew Masonic Temple Association
of Bridgewater, by which name they shall have perpetual suc-
cession, may sue and be sued, contract and be contracted with,
and have and use a common seal, with poaver to purchase, take,
and hold lands and tenements, goods and chattels and moneys
for the use and benefit of said association, and especially to
hold, use, and enjoy the new masonic temple building afore-
said, in Bridgewater, together with the lot of land upon which
the same is situated; but the lands which the said association
may so hold or acquire shall not exceed five acres.

2. The capital stock of said company shall not be less than
six thousand dollars nor more than twenty thousand dollars,
to be subscribed in shares of ten dollars each, in like manner
and form as heretofore, and the said stock, issued by said as-
sociation heretofore, and sold and taken as aforesaid, shall be
valid and binding upon said company as fully, to all legal in-
tents and purposes, as the stock which said association may
hereafter issue; and the capital stock of said association shall
be deemed personal estate, and may be transferred on the
books of said association, including the shares heretofore is-
sued as aforesaid, as well as that which may be issued hereafter,
by said association, in such manner as the by-laws may pre-
scribe.

3. Books may be opened in said town of Bridgewater, under
the direction of the above named persons, and at such other
places, and under the direction of such other persons, as said
association may appoint, for the purpose of receiving further
subscriptions to the stock of said association, for the purposes
aforesaid.

4. There shall be a board of trustees for the management of
the affairs of the said association to consist of five persons, and
the five persons named in the first clause of this bill shall con-
stitute the first board of trustees, and shall hold their offices
until the stockholders, in general meeting, shall elect another
board.

5. The stockholders shall annually, in general meeting, elect
five trustees, at such time as they may designate in their by-
laws; but should the trustees not be elected, in any year, on
the day appointed for that purpose, the corporation shall not,
for that cause, be dissolved, but the trustees in office shall con-
tinue in office until a new election be thereafter effected as may
be provided by said association.

6. The said association shall have power to make any regu-
lations or laws, for their government, and the government of
the company, not inconsistent with the laws and constitution
of this state, or of the United States.

7. The board of trustees shall appoint one of their own body
president, and may appoint such other officers as they may
think proper; prescribe the duty of the officers, fix the rate
of compensation to be paid to them, take bond and security of
such oflicers as they may deem proper, and in such penalty as
they may prescribe; but no member of the board of trustees
shall be eligible to any office but that of president and trea-
aurer.

8. A majority of the trustees shall constitute a quorum for
the transaction of business, and the board of trustees shall
pave power to supply any vacancy that may occur in the

oard.

9. Leases, contracts, and conveyances, when duly authorized
by the association, may be executed and acknowledged for re-
cord, on behalf of the association, by the president, or by
any other person specially authorized by the board of trus-
tees.

10. The association shall have a lien on the stock of any stock-
holder for any moneys due or accruing from him to the company,
and if any subscriber, for any of the capital stock of the company,
shall fail to pay the amount due for the same, in money instal-
ments therefor, when required by the board of trustees, the
same may be recovered by action or by motion, after ten days’
notice thereof, in any court, or before a justice of the peace,
having jurisdiction.
11. The said association may improve, lease, or sell, or other-
Wise manage or dispose of the real estate which it now has or
may hurentter lawfully acquire; but the same shall not be sold
except in pursuance of a vote taken at a general meeting of
the stockholders, and those representing a majority of shares
of stock concurring therein.

12. The presence of a majority in interest of the stockhold-
ers shall be necessary to constitute a general meeting, but the
presence and votes of stockholders may be in person or by

roxy.
P 13. This act shall be in force from its passage.