CHAP. 101.—An ACT to incorporate the Montvale co-operative
company of Bedford county, Virginia.

Approved January 26, 1892.

1. Be it enacted by the general assembly of Virginia,
That D. H. Thompson, R. C. Harvey, James H. Read, B.
W. Arnold, J. M. Wells, A. Carney, F. C. Harvey, and their
associates and successors, be, and they are hereby, consti-
tuted and made a body politic and corporate by the name
and style of the Montvale co-operative company, and by
that name and style shall have all the rights, powers, and
privileges conferred by, and be subject to all the provis-
ions of the general laws of the state of Virginia in refer-
ence to, corporations and chartered companies, 80 far as the
same may be applicable to and not inconsistent with the
provisions of this act.

2. The capital stock of said company shall be not less
than five hundred (500) dollars nor more than one hun-
dred thousand (100,000) dollars, to be divided_into shares
of ten (10) dollars each.

3. The said company may carry on a general mercantile
business, maintain a general trade in merchandise, farm
products, and engage in such other business as may be
considered necessary for the mutual benefit of the share-
holders and customers of said company.

4. The said company may own such houses, lots, and
lands as are suitable for carrying out the purposes for
which it was organized.

5. The principal office and place of business of said
company shall be in the town of Montvale, or such other
place in the county of Bedford, and state of Virginia, as
the association may select.

6. The stockholders shall be individually responsible to
the extent of their respective shares of stock in said com-
pany and no further.

7. There shall be a meeting of the said corporators and
their associates at such time and place, after the passage
of this act, as tbe said incorporators, or any five of them,
may appoint, and on such a day and at such place annually
thereafter as the by-laws of said corporation may appoint,
for the purpose of choosing from the members of the said
corporation a president, secretary, and treasurer, and a
board of nine directors to manage the affairs of the said
corporation for one year thereafter and until a new elec-
tion shall take place and their successors are duly qualified.

8. All taxes which may be assessed against said com-
pany shall be paid in lawful money of the United States,
and not in coupons.

9. This act shall be force from its passage.