Chap. 197.—An ACT to amend and re-enact section twenty-three, chap-
ter fifty-sevey of the Code of Virginia (edition of eighteen hundred
and seventy-three), in relation to Procedure against Delinquent Stock-
holders in Chartered Companies.

Approved March 327, 1876.

1. Beit enacted by the general assembly of Virginia, That
the twenty-third section of chapter fifty-seven of the Code of
eighteen hundred and seventy-three, be amended and re-
enacted, so as to read as follows:

§ 23. If the money which any stockholder has to pay upon
his shares be not paid, as required by the president and direc-
tors, the same, with interest thereon, may be recovered by
warrant, action or motion, as aforesaid, and such action or
motion may be brought or maintained in the circuit court of
the county or corporation wherein the principal office of the
company is, although none of the defendants reside therein ;
or such shares may, after notice in a newspaper for one
month, of the time and place of sale, be sold at public auc-
tion for ready money, and transferred to the purchaser: pro-
vided, that this section shall not apply so as to include policy-
holders in mutual insuran&e companies, who are not other-
wise stockholders in said companies: provided, that such war-
rant, action or motion, against policy-holders in mutual in-
surance companies, who are not otherwise stockholders, and
against stockholders in any company chartered for the pur-
pose of making any work of internal improvement, shall be
maintained only in the county or corporation of the residence
of such policy-holders and stockholders, and as provided by
the Code of eighteen hundred and seventy-three.

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