Chap. 39.—An ACT to incorporate the Rochelle mutual co-operative
association for the purpose of conducting a general mercantile busi-
ness and of manufacturing leather, shoes, and other goods out of
leather. |

Approved January 29, 1878.

1. Be it enacted by the general assembly, That Noah I.
Henkle, Ezekeil Brooking, Lincus Graves, Curtis Wilhboit of
Orange county, George W, Graves, Jno. N. Wilhoit of Greene
county, William F. Nicol, B. F. Graves, B. F. T. Conway,
B. T. Yager, Burwell Melone, J. A. Reid, Moses 8. Weaver
of Madison county, and such other persons as may associate
with them under this act, shall be and are hereby incorpo-
rated, and made a body politic and corporate, by the name
and style of The Rochelle Mutual Co-operative Association
of Patrons of Husbandry, for the purpose of doing and con-
ducting a general merchantile business and of manufacturing
leather, shoes, and such other goods out of leather as may
by the stockholders in general meeting be determined; and
are hereby invested with all the rights, powers, and privi-
leges, and made subject to all the rules, regulations, and re-
strictions provided and prescribed in the Code of Virginia,
so far as they are applicable to, and not inconsistent with
the powers and rights herein granted.

2. The capital stock of said association shall not be less
than one thousand dollars, nor more than twenty thousand
dollars, to be divided into shares of ten dollars each. - %

3. The said association shall have power to purchase and
hold lands, not exceeding ten acres, at and near Rochelle in
the county of Madison.

4, The stockholders in said association shall not be liable
for any loss, damage or responsibility, other than the prop-
erty they have in the capital, and funds of the association,
to the amount of the shares respectively held by them, and
any profits arising therefrom not divided.

5. The business of. the association shall be managed by
five directors, to be elected by the stockholders in general
meeting held for that purpose, and each stockholder shall be
entitled to one vote for each share of stock held by him,
except that no stockholder shall have more than ten votes.
6. The office of said association shall be in the village of
Rochelle in the county of Madison.
7. This act shall be in force from its passage.

Chap. 39.—An ACT to incorporate Montgomery grange, No. 312, in
Montgomery county.

. Approved January 29, 1X78.

Whereas an organization is established in Montgomery
county known as Montgomery grange, number three bun-
dred and twelve, which has for its object the fostering and
developement of the aericultural interests, as well as the
mutual aid and protection of its members in times of sick-
ness and distress; the burying of deceased members; the
care of the widow and the orphan, and other benevolent pur-
poses, and for the purpose of securing the advantages of co-
operation in matters affecting their interests and mutual im-
provement:

1. Be it therefore enacted by the general assembly of Vir-
ginia, That James KE. Eskridye, Henry M. Fowlks, David
W. Frizzell, Rice D. M. Chariton, George W. Fagg, David
L. Stephens, John Stuart, William E. Stone, John C. Gris-
som, and all other persons ‘who are now or may hereafter be
associated with them, and their successors, shall be and they
are hereby constituted a body politic and corporate, by the
name and style of Montgomery Grange, Number Three Hun-
dred and Twelve, and by that name shall have perpetual succes-
sion and a common seal, and may sue and be sued, plead and be
impleaded, in all courts and places, and in all manner of actions
and complaints whatever; and may make by-laws and regula-
fers not inconsistent with this act and the lawsof this state, for

he government of its members and officers, and proper con-

duct of its affairs, and shall possess and enjoy all other privi-

leges and franchises incident to a corporation, and shall have
adthority to conduct a general mercantile business.

2. The capital stock of said corporation shall not be less than
two thousand dollars, nor more than fifty thousand dollars;
and shall be divided into shares of not less than ten dollars.

3. The personal liability of each share-holder shall be limi-
ted to the amount due and unpaid upon the shares of stock
owned and held by him, and no assignment or transfer of
any share shall be ‘valid until all calls made or due thereon,
shall have been paid or secured to be paid to the satisfaction
of the directors.

4. The amount of property , real, personal and mixed, which
may be held by said corporation at any one time, shall not
exceed fifty thousand dollars; which property shall be man-
aged by the directors of said corporation, (unless otherwise
provided by the by-laws of the corporation), who may, under
the direction of the corporation, rent, sell, convey, invest,
or in anywise dispose of said property, for the best interest
of the said corporation; and the property acquired by this
corporation shall be vested exclusively in the same; and shall,
at all times during the existence of the corporation, and at
its dissolution, be subject to the paramount authority and
control in its ultimate disposition, of a majority of the hol-
ders of shares of stock therein.

5. The persons above named, shall be the directors of said
corporation, until the stock-holders shall otherwise determine
by their by-laws, and they shall hold their offices until their
successors shall be appointed and have qualified.

6. The number of directors who shall constitute a quorum
for the transaction of business, shall be determined by the
by-laws of the corporation.

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