Chap. 26.—An ACT to amend sections 1 and 2 of an act to incor-

rate the Douglas Jand company of Virginia, approved March

th, 1890, and to substitute incorporators named in said act,

and to extend the time within which the said company may be
organized.

Approved December 22, 1891.

1. Be it enacted by the general assembly, That sections
one and two of an act approved March fourth, eighteen
hundred and ninety, entitled an act to incorporate the
Douglas land company of Virginia, be amended and re-
enacted so as to read as follows:

§ 1. That William P. Douglas, Douglas Robinson, ju-
nior, Archibald D. Russell, Daniel Trigg, and James §S.
Greever, or such of them as shall accept the provisions of
the act approved March fourth, eighteen hundred and
ninety, entitled an act to incorporate the Douglas land
company of Virginia, as hereby amended, their associates
and successors, be, and they are hereby, incorporated and
made a body politic and corporate under the name and
style of the Douglas land company of Virginia, and by
that name shall be known in law, and shall have perpet-
ual succession, and shall have power to sue and be sued,
plead and be impleaded, defend and be defended in all
courts, whether in law or in equity; may make and have
a common seal, and may alter and amend the same at
pleasure; exercise all the rights, powers, and privileges
pertaining to corporate bodies and necessary for the pur-
poses of this act; and may make by-laws and regulations
consistent with the laws of this state, for the transaction
of business and the government of all under its authority,
the management of its estate and properties, and the due
and orderly conduct of its affairs.

§ 2. The capital stock of the said company shall not be
less than one million dollars, and may be increased to any
amount not exceeding five million dollars, by the issue
and sale of sbares, the par value of which shall not be
less than one hundred dollars each, from time to time, un-
der such regulations as the board of directors of said com-
pany shall prescribe; and the directors may receive real
and personal property suitable to the business of the com-
pany, in payment of subscriptions for the capital stock,
at such valuation as may be agreed upon between the
directors and the subscribers.

§ 15. The time within which the organization of the
said company shall take place shall be extended to two
years from the passage of this act, and this act shall be in
force from its passage.