Chap. 263.—An ACT to incorporate the Warm Spring Company.

Approved April 28, 1874.

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igs 1. Be it enacted by the general assembly, That John L. |
cor- Kubank, Henry E. Smith, ii. C. Eubank, Charles Ellia, W. |
H. Hopkins, together with such other persons as may be
hereafter associated with them, be and they are hereby cre
ated and made a body politic and corporate, under the name
and style of the “Warm Springs Company,” for the purpose
uf purchasing the Warm springs estate, in the county ci
Bath; and under that name shall have perpetual succession, |
with power to sue and be sued, plead and be impleaded, con- |
tract und be contracted with, and have all the attributes of s |
legal corporation, under the general laws of this state, so far
as the same are applicable to, and not inconsistent with the
provisions of this act.

2. The capital stock of said company shall be not less than |
one hundred thousand dollars, nor more than five hundred |
thousand dollars, to be divided into shares of one hundred
dollars each; and whenever fifty thousand dollars shall have
been paid in, the shareholders may organize under this char-
ter, adopt by-laws, and elect officers for their execution. The
corporation may acquire and hold lands, not exceeding five
thousand acres; and may erect buildings for the accommo-
dation of visitors and others, may provide for their enter-
ees tainment, and receive compensation therefor, engage in mer-
», chandize, enter into contracts of sale and lease, and of ia-

surance against fire, improve and cultivate its lands, and erect

‘and conduct saw and other mills.

8. The annual and other meetings of this company, shall
be held at the Warm springs, in Bath county, Virginia, or in

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the city of Richmond, as the sharehviders may, in general
meeting, determine; and the time and place of the first meet-
ing of the company, shall be. upou the call of a majority of
the shareholders. At the first meeting, and annually there-
after, a president and four directors shall be elected; and the
scale of voting therein shall be regulated by the provisions
of the Code of eighteen hundred and seventy-three. The
terms of such officers shall be until their successors are elected
or appointed.

4. The shareholders of said company shall not be liable,
individually, for any of the contracts or acts of the company,
other than the amount of the shares, and the corporate pro-
perty respectively held by them.

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