CHAP. 511.—An ACT to incorporate the True Friends of Char-
ity society, of Pittsylvania county, Virginia.

Approved March 4, 1890.

1. Be it enacted by the general assembly, That Henry
Turner, James Devin, Wiley Williams, William Dallas.
Isaac Walton, Lewis Breedlove, and such other persons as
are now or may hereafter become members of said society.
be, and they are hereby, constituted a body politic and
corporate by the name and style of the True Friends of
Charity society, of Pittsylvania county; by this name
shall have perpetual succession and a common seal, sue
and be sued, plead and be impleaded, and in all respectz
shall be invested with the rights and privileges conferred,
and subject to the restrictions and regulations prescribed
for corporations by the general laws, so far as the same are
applicable to this corporation; and not inconsistent with
this act.

2. Said corporation may acquire and hold property, real
and personal, to an amount not exceeding five thousand
dollars. The said corporation shall have power to make
and adopt a constitution and by-laws, rules, and regula-
tions for the admission and expulsion of members, the
assessment of dues from said members, and the imposition
of fines against the same; rules and regulations for the
government of the said corporation; for the election of
officers and to define their duties, and for the safe keeping
and protection of their property and funds: provided, the
same are not inconsistent with the laws of the United
States and this state.

3. The objects of this society shall be for the mutual
benefit and protection of its members, the creation of
economical and industrial habits among the same, the aid
and taking care of the sick, making provisions for the
poor and destitute, and the burial of the dead.

4, This act shall be in force from its passage.
Chap. 512 —An ACT to incorporate the Abingdon Development
company.

Approved March 4, 1890.

_ 1. Be it enacted by the general assembly of Virginia,
That George W. Palmer, R. M. Page, A. McBradley, F. B.
Hurt, S. F. Hurt, R. T. McQouwn, Louis P. Shaner, James
Clark, Charles F. Palmer, and A. S. Horseley, or such of
them as may accept the provisions of this act, their asso-
ciates and successors, be, and are hereby, incorporated
and made a body politic and corporate under the name
and style of the Abingdon development company, and by
that name shall be known in Jaw, and shall have perpet-
ual succession, and shall have the power to sue and be
sued, plead and be impleaded, defend and be defended in
all courts, whether at law or in equity, and may make and
have a common seal, and alter and renew the same at
pleasure, and shall have, enjoy, and exercise all the rights,
powers and privileges pertaining to corporate bodies and
necessary for the purposes of this act.

2. The capital stock of said company shall not be less
than one hundred thousand dollars, and may be increased
to any amount not exceeding five hundred thousand dol-
lars, by subscription or by the issue and sale of shares
the par value of which shall not be less than ten dollars,
from time to time, under such regulations, and upon such
terms as the board of directors of such company shall
from time to time prescribe, and the directors may re-
ceive labor, supplies, materials, lands, water rights, and
other property, real and personal, in payment for the sub-
scription to the capital stock, at such valuation as may be
agreed upon between the directors and subscribers.

3. That said. company is authorized to purchase, hold,
and convey lands and interests in lands in the county
of Washington, in this state, such lands, however, held in
fee simple not to exceed at any one time five thousand
acres; to till, mine, and quarry upon the same; to con-
struct, lease, and sell dwellings, stores, factories, mills and
other buildings.

4. The persons first named in this act, or such of them
as shall accept the provisions hereof, shall constitute the
first board of directors of the said company, and shall
continue in office until the first meeting of the stockhold-
ers thereof. At such first meeting, and at every anuual
meeting, 80 many directors shall be elected as may be pre-
scribed by the laws and regulations of said company, who
may be removed by the stockholders in general meeting,
but unless so removed shall continue in office until their
successors shall be elected and qualified. Each stock-
holder in the company shal] at all meetings and elections
thereafter be entitled to one vote for each share of fsatock
registered in his name.

5. The board of directors shall be stockholders of said
company. They shall appoint one of their number presi-
dent, and may fill any vacancy that may occur in said
board, unless by a removal, in which case the same shall
be filled by the stockholders in general meeting. When-
ever the minimum amount of capital stock herein named
shall have been subscribed, and the board of directors
shall have elected a president, said company shall be con-
sidered legally organized, and may proceed to the transac-
tion of business. The board shall appoint, to hold during
its pleasure, the subordinate officers and agents of said
company, prescribe their compensation, and take from
them such bonds with security as they may see fit.

6. The board of directors may establish offices and
agencies at such places as they may deem proper, but. the
principal office of the company shall be located at Abing-
don, in the county of Washington, in this state.

7. The annual meeting of the stockholders of said com-
pany shall be held on the first Wednesday of May of each
year, or as soon thereafter as practicable, and on such
other day and at such other place as the stockholders may,
by resolution adopted at any annual meeting, to take effect
at the next annual meeting, prescribe. A general meet-
ing of the stockholders of said company may be held at
any time, as provided for by section eleven hundred and
fourteen of the code of Virginia, edition of eighteen hun-
dred and eighty-seven.

8. The said company shall issue certificates of stock in
said company to the subscribers or purchasers thereof, in
shares of not less than ten dollars each, signed by the
president and countersigned by the secretary of the com-
pany. The said certificates shall be transferable upon the
books of the company by the said subscribers, their per-
sonal representative, or duly authorized agent or attorney,
and the said certificates, when so transferred as aforesaid,
may be returned to the said company and cancelled, and
new certificates of stock shall be issued in lieu thereof to
the persons entitled thereto, to a tike number of shares.

9. It shall be lawful for said company to issue or sell its
bonds from time to time, and on such terms as its board
of directors may deem expedient and proper in the prose-
cution of any of its work, and may secure the payment of
said bonds by mortgage or deeds of trust upon all or any
portion of its property or franchises, including its fran-
chises to be a corporation, and may reserve the right to
the company or confer on the holders of any bonds of the
company the right to convert the principal thereof into
stock of the company at any time; and it shall be lawful
for said company to subscribe for and hold shares in the
capital stock of any railroad or other corporation when-
ever the board of directors of the company shall deem it
to its interést to do so, and any such corporation may
guarantee or hold the bonds or the stock of said company.

10. No stockholder in said company shall be held or
made responsible for its debts or liabilities in a larger or
further sum than the amount of any unpaid balance due
the said company for stock subscribed for by said stock-
holders.

11. All taxes due the commonwealth by said company
shall be paid in lawful money of the United States and
not in coupons.

12. This act shall be in force from its passage, but the
general assembly of the state of Virginia reserves the
right to modify, alter, or repeal this act at any time here-
after.