Chap. 242.—An ACT to incorporate the Lewiston Land and Immigra-
tion Company.

Approved March 29, 1876.

1. Be it enacted by the general assembly of Virginia, That
David R. Stokes, Frederick R. Scott, J. Wingate Frost, Robert
H. Mann, George W. Hardy, Nathaniel Matthews, William
H. Mann, D. M. Bernard, junior, W. W. Webb, Joseph Y.
Handy, John Jackson, H. L. Lee, and John W. Overby, their
associates and successors, be and are hereby incorporated and
made a body politic and corporate, under the name and style
of The Lewiston Land and Immigration Company; subject,
however, to the provisions of the laws of Virginia, applicable
to corporations of this character, and not inconsistent with
this-act. ] "

2. The said company may buy under its corporate title,
make and use a corporate seal, which it may alter or renew at
its pleasure, and may sue and be sued, plead and be impleaded,
contract and be contracted with, and make by-laws, rules
and regulations, consistent with the existing laws of the state,
for the government of all under its authority, the manage-
ment of its estates and properties, and the due and orderly
conduct of its affairs. .

3. The capital stock of said company shall not be less than
thirty thousand dollars, divided into shares of one hundred
dollars each, and may be increased to any amount not ex-
ceeding one million of dollars, by issue and sale of shares
thereof of one hundred dollars each, from time ito time, as
the board of directors of said company shall prescribe. |

4. The said company shall have power, and may purchase,
hold, grant, and otherwise dispose of real and personal
estate: provided, that not more than fifty thousand acres of
land shall be purchased or held by said company at any one
time; and the said company sball have power, and may lay
out said lands, or any part thereof, into parcels or lots of
convenient size, with intervening roads, lanes, streets, and
alleys, and improve, cultivate, sell, grant, mortgage, or other-
wise dispose thereof, in such manner, and upon such. terms
as the said company may think proper.
5. The preceding section shall not prevent the said com-
pany from purchasing or otherwise acquiring lands or other
real property, over and above the quantity specified in this
act, in satisfaction of any order, judgment, or decree, as col-
lateral security, for or in payment of any debt, or from pur-
chasing at any sale madé for its benefit. .

6. The thirteen persons first mentioned in this act shall
constitute the first board of directors of said company, and
continue in office until the first meeting of the stockholders
thereof, any five of whom shall constitute a quorum. At
such first meeting, and at every annual meeting, so many
directors shall be elected as may be prescribed by the by-laws
and regulations of said company, who may be removed by
the stockholders in general meeting; unless so removed,
shall continue in office until their successors shall be elected.

7. The board of directors shall consist of thirteen persons,
until a greater or less number shall be prescribed by the by-
laws and regulations of said company, and shall be stock-
holders of said company. They shall appoint one of their
number president, and may fill any vacancy that may accrue
in said board, unless by removal, in which case the same
shall be filled by the stockholders in general meeting. The
board shall appoint (to hold during its pleasure) the subordi-
nate officers and agents of said company, prescribe their
compensation, and take from them such bond, with such
security as they may deem fit. |

8. The principal office of the said company shall be at Lew-
iston, Virginia, and the board of directors may establish
other offices and agencies at such places as they may think
proper.

9. Books of subscription, under the auspices of the corpo-
ration herein named, shall be opened in Lewiston and Rich-
mond, Virginia, and New Bedford, Massachusetts, and wher-
ever the corporators shall deem expedient.

10. Subscriptions may be made in either lands.or money;
if in lands, they shall lie in the county of Lunenburg, and
the value shall be fixed in the manner that may be deter-
mined by the board of directors; but for the purpose of mak-
ing up the sum of fifty thousand dollars, a subscription may
be taken for the purchase of u lot of land in the county of
Lunenburg at a specific price. ;

11. No stockholder in said company shall ever be held
liable or made responsible for its debts and liabilities in a
larger or further sum than the amount of any unpaid balance
due to said company for stock subscribed for in the name of
said stockholder.

12. The annual meeting of the stockholders of said com-
pany shall be on the Tuesday after the second Monday in
January of each year, or on such day as the stockholders
may determine.

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