Chap. 158.—An ACT to incorporte the Masonie Building Association

of Portsmouth

Approved February 27, 1879.

1. Be it enacted by the general asseinbly of Virginia, That
James G. Bain, R. S. Grant, William <A. Fiske, C. W. Mur-
daugh, D. F. Turner, Junior, J. J. Carr, A. Bull, John T. Hill,
James IT. Toomer, C. W. Pedrich, Charles T. Myers, and Joseph
F. Weaver, and such other persons as are now or may here-
after be regularly associated with them, be and they are hereby
incorporated and made a body politic and corporate, under the
name and style of The Masonic Building Association of Ports-
mouth; by which name they shall have perpetual succession,
may sue and be sued, contract and be contracted with, and
have and use a common seal, with power to purchase, take, and
hold lands and tenements, goods and chattels and moneys for
the use and benefit of said association, and especially to pur-
chase and hold land in the city of Portsmouth, for the purpose
of building a Masonic temple in said city for the use and pur-
poses of said association, not exceeding one acre.

2. The capital stock of said company shall not be less than
one thousand and more than fifty thousand dollars, to be sub-
scribed in shares of twenty-five dollars each.

8. The said association shall have power to take donations,
bequests, and devises, and apply them to the proper uses and
purposes of the association; and books shall be opened in the
city of Portsmouth, under the direction of the above named
persons, for the purpose of receiving subscriptions to consti-
tute a joint stock company for the purposes aforesaid.

4. There shail be a board of trustees for the management of
the affairs of the said association, to consist of twelve persons ;
and the twelve persons n¢.med in the first clause of this bill
shall constitute the first board of trustees, and shall hold their
offices until the stockholders, in general meeting, shall elect,
another board, or until another board shall be elected or ap-
pointed in pursuance of the constitution and by-laws of the
association, which the said association is hereby authorized
and empcwered to adopt for their cuidance and governance,
not inconsistent with the laws and constitution of this state or
of the United States.

5. The board of trustees shall appoint one of their own body
president, and may appoint such other officers as they may think
proper; prescribe the duties of the officers: take bond and
security of such officers as they may deem proper, and in such
penalty as they may prescribe; and all leases, contracts and
conveyances, when duly authorized, may be executed and
acknowledged for record, on behalf of the association, by the
president or other person specially authorized by the board of
trustees. .

6. The said association may improve and manage the real
estate which it shall lawfully acquire, and is hereby authorized
to borrow a sum of money not to exceed ten thousand dollars,
at arate of Interest not fo exceed — per centum per annum,
and execute a note or notes, bond or bonds therefor, in such
sum or sums as may be prescribed and directed by the board
of trustees, and to secure the payment of the same, and all in-
terest thereon; may execute a deed of trust on their said real
estate.

7. Portsmouth Naval Lodge, number one hundred: Seaboard
Lodge, number fifty-six, Mount Horeb Royal Arch Chapfer,
nuniber eleven; and Portsmouth Commandery, number five,
inay subscribe to the capital stock of said association, or make
any donation or donations to said association as they may deem
advisavle, or as may be agreed upon by them or either of them.
and .the board of trustees of said association.

8. This act shall be in force from its passage,