Chap. 100.—An ACT to incorporate the Norfolk Classitied Building
Association of the City of Norfolk.

Approved February 12, 1884.

1. Be it enacted by the general assembly of Virginia, That
George W. Black, P. H. Dann, James M. Black, William Y,
Johnson, I. Moritz, H. CG. W illiams, EK. E. W hitehurst, L.
Curtis, E. Black, W. M. Hannah, Senior, and all those who
are now or who may hereafter be associated with them and
their successors, be and they are hereby declared a body poli-
tic and corporate by the name and sty le of The Norfolk Class-
ified Building Association of Norfolk, and by that name may
sue and be sued, plead and be impleaded in’ all the courts of
law and equity within this commonwealth, or elsewhere, and
have perpetual succession ; to have, make and use a common
seal, and the same to break, alter or renew at pleasure; to
ordain and establish such constitutii. by-laws and regula-
tions as they may think proper and wise, and gene srally do
every act and thing necessary to carry into effect this act, or
to promote the objects and designs of this corporation: pro-
vided that such constitution, by-laws and regulations, or acts,
be not inconsistent with the laws of this state or of. the
United States.

2. This corporation shall have for its object the accumula-
tion of a fund from the weekly dues or contribution of its
members, fines and premiums on loans, sufficient to aid the
respective members thereot to build or purchase a homestead
or such other real estate as they may deem advantageous.

3. The stock of the said corporation shall consist of not
less than five hundred and not more than five thousand unre-
deemed shares at the par value of one hundred dollars each,
payable in installments at the rate of twenty-five cents per
share per week. Members receiving the full value of their
shares in advance as borrowers. shall pay not exceeding
forty-four cents per share per week in lieu of dues and in-
terest.

4. There shall be a meeting of said corporation at such
time and place, after the passage of this act, as the persons
above named, or any five of them, shall appoint for the pur-
pose of choosing a board of directors and other officers as the
by-laws « adopted by them may prescribe.

5. The buard of directors, at a request of a majority of its
members, may annually, or as often thereafter as they may
deem necessary, establish a new class or branch of this asso-
ciation: provided they shall not be authorized to establish
more than one class or branch in any one year, and each class
or branch shall be terminated so soon as each member shall
have received the par value of each share of stock owned by
him.

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