An Act to amend and reenact § 46.1-299, as amended, of the Code of Virginia, relating to devices signalling intention to turn or stop and rules therefor.
Volume 1968 Law 99
Volume | 1876/1877 |
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Law Number | 111 |
Subjects |
Law Body
Chap. 111.—An ACT toincorporate the New Rawley Springs Company.
Approved February 26, 1877.
1. Be it enacted by the general assembly, That W. D.
Hopkins, Charles A. Sprinkel, J. L. Sibert, George Chrisman,
A. B. Irick, J. A. Loewenbach, Peter Guyer, James C. Helt-
zel, Charles A. Yancey, J. W. F. Allemong, S. R. Sterling, of
the county of Rockingham; Nicholas Acker, of Washington,
District of Columbia; Leopold and Brother, and M. Loewen-
bach, of Baltimore, Maryland, shall be, and they are hereby,
incorporated and made a body politic and corporate, under
the name and style of The New Rawley Springs 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, plead and be impleaded, contract and be con-
tracted with, and make by-laws and regulations not incon-
sistent with the laws of the United States or of this state.
2. The capital stock of the company shall not be less than
twenty-five thousand dollars, with the privilege of increasing
the same at any time, by a vote of a majority of the board of
directors, to any sum not exceeding two hundred thousand
dollars. Said stock shall be deemed personal property, and
shall be divided into shares of fifty dollars each, to be trans-
ferable only on the books of the company, and in such man-
ner as shall be prescribed by the by-laws of the corporation.
Each share shall entitle the bona fide holder thereof to one
vote, to be given cither in person or by proxy, at gll meet-
ings of the stockholders: provided, that each stockholder
shall only be entitled to one vote for every five shares above
ten.
3. Subscriptions to the capital stock of said company may
be paid in money, or in debts due from the Rawley Springs
company to the subscriber or stockholder.
4. The company shall have power to purchase or lease the
real and personal property, including the telegraph line from
Harrisonburg to Rawley Springs, belonging to the Rawley
Springs company, situated in Rockingham county, to im-
prove said real estate by erecting thereon additional hotels,
and other buildings, for the accommodation of the public, as
a place of summer resort; to improve the grounds thereof;
to mine-and sell coal, iron, and other minerals upon their
land; to purchase real estate not exceeding ten thousand
acres; to rent, lease, or sell any of their said property; to
issue bonds, and secure the same by mortgage on the whole
or a part of the property of the company.
5. Whenever the persons above named, or any of them, in
person or by proxy, shall meet together, in Harrisonburg,
and with such other persons as they may associate with
them, shall subscribe so much of the capital stock in said
company as is sufficient to incorporate the subscribers, they
shall have power to choose from their number by ballot, and
by a majority of votes, not less than five nor more than seven
directors, to continue in office for one year, and until their
successors shall be duly elected and qualified. They shall
elect one of their number president. The principal office of
the company shall be at Harrisonburg or Rawley Springs, in
Rockingham county, as the stockholders shall in general
meeting determine.
6. The directors provided for in the next preceding sec-
tion, shall constitute the board of directors of said company,
and as such shall have the control and management of the
affairs of the company; shall elect a treasurer, secretary, and
other officers, employ all necessary labor for the company,
and have general supervision of the business thereof. They
shall annually, on the first Thursday in October of each year,
submit to the stockholders a written statement of the condi-
tion of the capital stock paid and unpaid; the amount of debts
existing against the company, specifying to whom said debts
are due; the receipts and disbursements made to said date;
which said statement shall be verified by the affidavits of the
treasurer. Said statement shall be filed by the secretary of
the company.
- J. The liability of the stockholders of this company shall
be limited to the amount due and unpaiil upon the shares of
stock owned or held by them respectively.
8. This act shall be in force from its passage.