Chap. 62.—An ACT to incorporate the Old Dominion Accident, Insur-
ance and Guarantee Company.

Approved November 22, 1884.

1. Be it enacted by the general assembly of Virginia, That
John P. Branch, Lewis Ginter, James H. Dooley, Thomas
Potts, and Charles 8. Stringfellow, and their associates and
successcrs, shall be a corporation under the name of the Old
Dominion Accident, Insurance and Guarantee Company, the
twofold object of which shall be to insure railroad employees,
and others against loss from injury or accidental death, and:
to grant or guarantee bonds of suretyship for the faithful
discharge of the duties of employees in positions of trust, and
under that title they may act and contract, and be recognized
in all courts and places, and may sue and be sued; may take
and acquire real estate or other property, by grant, pur-
chase or devise, and hold, convey, mortgage or dispose of the
same, and shall have a corporate seal, and shall be vested
with the general powers and rights of corporations. :

2. That the capital stock of said company shall be one hun-
dred thousand dollars, divided into shares of one hundred dol-
lars each; that the business of said company shall be conducted
by a board of directors to consist of not less than five or more
than twenty-five, as the by-laws may from time to time pro-
vide, and the acts of a majority of the board or such quorum
for the transaction of business as the by-laws of the com-
pany may provide, shall be the acts of the board; and that
the board of directors shall be elected annually from amongst
the shareholders in such manner and at such time and place
as the by-laws of the company may provide; that John P.
Branch, Lewis Ginter, James H. Dooley, and Charles S.
Stringfellow, shall be the first directors of the company to
hold office until their successors are duly elected; that there
shall also be elected or appointed as shall be provided by the
by-laws, a president, secretary, treasurer, and such other
officers, clerks, and servants as may be required, whose term
of office shall be one year, or until their successors are duly
elected or appointed, as may be provided by. the by-laws,
whose duties and compensation shall be fixed from time to
time by resolution of the board of directors.

3. That the first directors named in this act, shall open
books of subscription for shares of the capital stock of the
company, and may proceed to carry out its objects whenever
the whcle amount of the capital shall have been subscribed
under regulations to be prescribed by said board of directors,
and fifty thousand dollars have been paid in cash.

4. The board of directors shall have the power to make
by-laws for the government of the company and its officers,
and the transaction of its business not inconsistent with the
laws of this state, or of the United States, and to alter and
amend same from time to time; and they may provide for an
increase in the capital stock from time to time as may be
required.

5. That the real and personal property of the company
shall be liable to taxation in the same manner and to the
same extent as the property of an individual; but the sub-
‘scribers or holders of the shares of the capital stock, shall
not be liable to any additional tax on such shares.

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

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