Chap. 105.—An ACT to incorporate the Norfolk electric light and power
company. .

Approved January 23, 1896.

1. Be it enacted by the general assembly of Virginia, That Paul
K. Browd, B. N. Sperry, George Russell, and Walter H. Taylor, of
the city of Norfolk, Virginia, and J. C. Sperry, of the city of Syra-
cuse, New York, or such of them as may accept the provisions of
this act, and such other persons as may hereafter be associated with
them, their successors and assigns, be, and are hereby, incorporated
and made a body politic and corporate under the name and style of
Norfolk electric light and power company; and said company shall
be invested with all the rights and privileges appertaining to incor-
porated companies under the laws of this State and the United
States, and subject to all restrictions now imposed upon the same by
existing laws, or that may hereafter be imposed by the general as-
sembly of the state, and upon the further consideration that the
said company shall pay in current money of the United States all
taxes and other demands due by it to the state of Virginia.

2. The said company shall have power to supply and furnish the
electric current, so far as it may desire, to persons (natural or arti-
ficial), as well as to the State and United States, for all purposes for
which said electric current may now or hereafter be needful or use-
ful, and to supply electric light and power for public and private
uses, also to buy and sell, or otherwise dispose of supplies and ap-
purtenances pertaining to the uses of electricity now known or which
may hereafter be invented or discovered.

3. The said company shall have power to erect and maintain poles,
wires, mains, and necessary fixtures, for the proper conduct of its
business, in and along the streets of the city of Norfolk; provided
the consent of the city councils be first obtained, and in and along
the county roads and highways; provided the consent of the board
of supervisors, and of the county courts of such counties be first
obtained, and subject to the fee simple rights of adjacent land-
owners therein.

4. The capital stock of said company shall not be less than fifteen
thousand dollars, and may be increased from time to time by the
stockholders to any amount or amounts, not to exceed, however, the
sum of three hundred thousand dollars, and the same shall be
divided into shares of the par value of one hundred dollars each.
They shall be deemed personal property, and be transferable on the
books of the company in the manner prescribed by the board of di-
rectors. The said board of directors may receive cash, labor, ma-
terial, real and personal property, suited to the business of the com-
pany, in payment of subscription to the capital stock. The said
stock may be issued as common and preferred stock, and in such
proportions, and on such terms, as the directors may determine.

5. The said company shall have power to acquire by donations, or
purchase, or condemnation, according to the laws of Virginia, lands
required for right of way, stations, and other purposes necessary for
the conduct of the business of the company. The amount of real
estate held by the said company at any one time shall not exceed
twenty acres.

6. It shall be lawful for the said company, and the same is hereby
authorized, to borrow, whether the whole amount of capital stock
subscribed shall have been paid up and expended or appropriated
or not, from time to time, such sum or sums of money as may be
necessary for its purposes, and for such loans to issue its notes or
bonds payable at such time or times, for such an amount and on
such a rate of interest as the board of directors may determine, and
secure the payment of the same by a deed of trust or mortgage on
all its property, rights, and franchises; provided, however, that the
minimum amount of stock shall have been fully paid up.

7. The officers of the said company, shall consist of a president,
vice-president, secretary and treasurer, and five or more directors,
including the president and vice-president, who shall be ex-officio
members of said board, to be elected by the stockholders at the
annual meeting. The office of secretary and treasurer may be filled
by the same person, who may or may not be selected from among
the directors, as the stockholders see fit.

8. The stockholders in general meeting shall make and establish
such laws, rules, and regulations, not inconsistent with the laws of
the state of Virginia or of the United States, as they may deem proper
for the management and control of their affairs and business, and for
the government of their officers, agents, clerks, and other employees,
which shall be binding on all persons, connected with or in the
employment of the company.

9. The first regular annual meeting of the said company shall be
held at such’ time and place as the corporators, or a majority of
them, may determine, and all other annual or special meetings at
such time and place and upon such notice as may be prescribed by
the by-laws of the company.

10. Subject to the laws, rules, and regulations as adopted by the
stockholders, the board of directors shall have the management and
control of the business affairs of the company.

11. The general assembly of Virginia reserves the right to alter,
amend, or repeal this charter.

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