Chap. 757.—An ACT to authorize the Ashland land and improvement com-
pany to wind up its affairs, in whole or in part, and to distribute its assets.

Approved March 7, 1894.

Whereas the Ashland land and improvement company, a land
corporation chartered under the laws of the state of Virginia, hav-
ing a capital stock of twenty thousand six hundred and fifty dollars,
of the par value of fifty dollars per share, and being free from aM

Anhta andr LTiahili¢tina Aaoiroa tn wind nn ita affaira at annh tima
and to such extent as may be determined by the stockholders:
therefore,

1. Be it enacted by the general assembly of Virginia, That the
issue by the Ashland land and improvement company of one hun-
dred and sixty-five shares of its capital stock for which the full par
value was paid in cash and the issue by the said company of two
hundred and forty-eight shares of fully paid-up and non-assessable
stock, for which one dollar per share was paid, be, and the same are
hereby, confirmed and validated, and upon a petition or a bill in
equity, filed in the circuit court of Hanover county, or before the
judge thereof in vacation, by any stockholders against the said
company, the said court or judge in vacation shall have full and
complete power and jurisdiction to convene all stockholders or other
persons interested (by such publication as to the said court or judge
in vacation may seem proper), and to authorize and empower the
said company to wind up its affairs, in part or in whole, and to dis-
tribute its assets among its stockholders in such manner and under
such conditions as may be recommended by a resolution or resolu-
tions adopted, and to authorize and empower the said company to
wind up its affairs, in part or in whole, and to distribute its assets

mong its stockholders in such manner and under such conditions

8 may be recommended by a resolution or resolutions adopted by a
majority vote of all the stockholders of the said company, in person
or by proxy, at any stockholders’ meeting: provided the plan or
plans so recommended shall seem to the said court, or judge in vaca-
tion, to be reasonable and just; but before authorizing any such
distribution of assets the said court shall be satisfied that the said
company is free from all debts and liabilities, or that a sufficient
fund has been set aside to meet all such demands of creditors.

2. All power and jurisdiction conferred upon the said court by
this act may be exercised by the judge thereof in vacation. This
act may be accepted by a majority vote of all the stockholders of
the said company, in person or by proxy, at any stockholders’ meet-
ing held after notice of a call fixing the time and place of such
meeting shall have been published once a week for four successive
weeks in some newspaper published in the city of Richmond, and
such call may be made by those holding one-tenth of its capital
stock.

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