Chap. 310.—An ACT to incorporate a society called the True Friends
of Charity, in the town of Danville.

Approved April 2, 1877.

Whercas a benevolent society, called the True friends of
charity, has existed for some years last past, and still exists,
in- the town of Danville, holding property, real and personal,
vested in trustees for the use of said society, and have unani-
mously prayed for a charter of incorporation, in order to
the better government of its affairs, and more ettectuslly to
attain the benevolent objects of the society:

1. Be it enacted by the general assembly, That William
Lauier, H. W. Swann, William P. Watkins, Seddon Bruce,
Charles Johnston, Moses Green, Booker Giles, Spy Allen,
Edward Green, Tazewell Holland, Jobn T. Cobbs, Eustace
Ross, and their associates, composing the said society, be,
and they are hereby incorporated and made a body politic,
by the name and style of The True Friends of Charity, and
shall have all the rigbts and powers, and be subject to all
the restrictions, prescribed i in the fifty-sixth and fifty-seventh
chapters of the Code of eizhteen hundred and seventy-three,
so far as the same are applicable to a corporation created for
benevolent purposes, except so far as the same are modified
by bhi act.

The objects of tbe said corporation shall be to provide
for the care and nursing of its sick members, the burial of
its dead, and the support of their widows and minor children,
and, generally, for the promotion of knowledge and wood
morals among its members.

3. The real estate described and conveyed in and by tho
deed of conveyance dated the nineteenth day of March, eigh-
teen hundred and seventy, and recorded in the corporation
court of the town of Danville, executed byY. Turner More-
head, of the first part, to H. W. Swann, Spy Ross, and Wil-
liam Lauier, parties of the other part, as trustees for the use
of the said society, and the personal property, held by the
said trustees, or others in trust fur the present unincorpo-
rated society, shall be, and the same are hereby transferred
to and vested in the said True friends of charity, hereby in-
corporated, without the formality of any further deeds or
writings: provided however, that this act sball not impair
or affect any liens or incumbrarces heretofore created and
now existing, upon the said property, real or personal, nor
in any manner injure or affect the rights or claims of any
existing creditor of the present unincorporated society or
any creditor of its trustees in respect to such property.

4. The said True friends of chatity may take and hold the
said real and personal property, and other real and personal
property, suitable for the objects of the corporation, not ex-
ceeding, in all, the value of twenty-five thousand dollars;
and may make such by-laws, ordinances, and regulations,
consistent with the laws of this state, and of the United
States, as it may deem proper for the government of its
members, the managament and sale of its property, and the
orderly conducting of its affairs; it may issue certificates of
stock to its members, for their first shares of its property;
which shall be deemed personal property, and shall be as-
signable, with its consent, on such terms and conditions as
may be prescribed by the by-laws; and in case of the death
of any member, being such stockholder, if his share of said
stock cannot be assigned for want of such consent, it shall
be redeemed or purchased by the corporation, on such equita-
ble terms as may be prescribed by its by-laws. The number
cf the members of the society, or corporation, shall not. at
any one time, exceed two hundred; and if, at any time, the
number of its members shall become less than twenty-five,
the corporation hereby created shall be dissolved; and its
property shall then be sold and conveyed, by the corpora-
tion, and the proceeds of the sales divided equitably among
the members and stockholders, in the manner prescribed by
its by-laws. The property shall also be sold and divided.
and the corporation afterwards dissolved, whenever two-
thirds of its members, present and voting in a general meet-
ing of its stockholders, convened to consider that question,
shall so decide, order and direct: provided that notice of the
time, place, and object of such meeting shall have been given
at a previous meeting of the society, and shall also have been
published in one or more of the newspapers of the town of

anville, at least twenty days before the day of suc meeting.

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