Chap. 97.—An ACT to amend and re-enact section 59 of chapter 57 of
the Code of Virginia of 1873, as amended by un act approved Feb-
ruary 27, 1880, in relation tothe formation of Joint Stock Companies.

Approved February 8, 1884.

1. Be it enacted by the general assembly of Virginia, That
section fifty-nine of “chapter fifty-seven of the Code of Vir-
ginia. edition of eighteen hundred and seventy-three, be
amended and re-enacted so as to read as follows:

$59. Any five or more persons, who shall desire to form a
joint stock company for the conduct of any enterprise or
business, which may be lawfully conducted by an individual,
or by a body politic or corporate, except to construct a turn.
pike to be constructed beyond the limits of the county, or

railroad or canal, or to establish a bank of circulation, may

make, sign and acknowledge before any justice of the peace
or notary public, or county or corporation judge, or clerk of
a county, corporation or circuit court, a certificate in writing.
Bet tinge “forth the name of the company, the purposes for
which it is formed, the capital stock, and its division into
shares, the amount of real estate proposed to be held by it,
the place at which its principal office is to be kept, and the
chief business to be transacted, and the names and residences
of the officers who for tho first year are to manage the affairs
of the company. This certificate may be presented to the
circuit court of the county, city or town or corporation court
thereof in which the principle office of the company is to be
located, or the judge thereof in vacation. The said court or
judge in vacation shall have a discretion to yprant or refuse
to said persons a charter of incorporation upon the terms set
forth in the said certificate, or upon such other terms as may
be adjudged reasonable. If the charter be vranted, it shall
be recorded by the clerk of the said court, in a book to be
provided and kept for the purpose, and shall he certified by
said clerk to the secretary of the commonwealth, to be in like
manner recorded in his office, and thereafter the said court.
or the judge thereof, in vacation, may, upon the motion of
the said company, or of any company to whom heretofore a
charter has been cranted by a court, or on reasonable notice
to said company. alter or amend said charter, or change the
corporate name of said company. and such alteration, amend-
ment or chanve shall be recorded by said clerk, and in the
office of the secretary of the commonwealth, as hereinbefore
provided for rec ‘ording charters, and shall be as effectual and
legal, from that time, as if originally a part of said charter.
But nothing contained in this section shall be beld or con-
strued ax deny Ing to any building fund association, organized
and incorporated Funder the act of May twenty-ninth, cighteen
hundred and _ fifty-two, and amendatory acts, all the rights,
powers, privileges and franchises granted and vested under
said acts to such associations. And it shall not be lawful for
the legislature to grant relief. or to Incorporate any Company,

or to alter or amend the charter of any Corporation, provision
for which is made in this statute, wuless application shall have
first been made to the cireuit court. corporation court, or the
judge thereof) in’ vacation, and refused, but the legislature
may, nevertheless, revoke or repeal any act of incorporation
in any case in which it would otherwise have authority to
do so.