Chap. 475.—An ACT to amend the charter of the State building and loan eom-
pany, granted by the circuit court of the city of Richmond on the seventh
day of June, 1894.

Approved February 24, 1896.

Whereas a charter was granted to the State building and loan
company by the circuit court of the city of Richmond on the seventh
day of June, eighteen hundred and ninety-four, and the said charter
was duly recorded in the office of the secretary of the commonwealth
of Virginia as required by law; and whereas the said company was
duly organized under said charter by the subscription of more than
the minimum capital stock required thereby, and has ever since the
granting of said charter continued to do business as a body politic
and corporate thereunder; and whereas at a general meeting of the
stockholders of the said company held at its principal office in the
city of Richmond on the fourteenth day of January, eighteen hun-
dred and ninety-six, a resolution was adopted by the votes of a
majority of all of the stockholders of said company authorizing the
board of directors and the attorney of the said company to apply to
the circuit court of the city of Richmond to have the said charter
amended as hereinafter amended by this act; and whereas the ap-
plication of the said company was made to the said circuit court of
the city of Richmond on the seventh day of February, eighteen hun-
dred and ninety-six, to have said charter amended in accordance
with said resolution, and said application was refused by said court
for the reason that said court, in the opinion of the judge thereof,
did not have the power to amend the said charter as prayed in the
said application; therefore,

1. Be it enacted by the general assembly of Virginia, That the
third section of the charter granted to the State building and loan
company by the circuit court of the city of Richmond on the seventh
day of June, eighteen hundred and ninety-four, be amended so as to
read as follows:

§ 3. The capital stock of the company shall not be less than fifty
thousand dollars nor more than one million dollars, divided into
shares of the par value of one hundred dollars and twenty-five dol-
lars, respectively, each, payable either by one payment or in such
installments and upon such terms as may be prescribed by its con-
stitution and by-laws, and such capital stock to be issued in classes
known as “class A,” or installment stock, of the par value of twenty-
five dollars per share, upon which monthly payments will be re-
quired; “class B,” or paid-up stock, of the par value of twenty-five
dollars per share, upon which only one payment will be required ;
“class C,” or dividend stock, of the par value of twenty-five dollars
per share, upon which only one payment will be required, and upon
which a dividend of eight per centum per annum will be guaran-
teed; ‘class D,” or installment stock, of the par value of one hun-
dred dollars per share, payable one dollar per share per month, and
guaranteed to mature and be worth one hundred dollars per share
at the expiration of eighty months from date of issue; “class EK,”’
or certificate of deposit stock, of {the par value of one hundred dol-
lars per share, bearing interest at the rate of six per centum per
annum, which may be withdrawn at any time after the expiration
of thirty days from date of issue on ten days’ notice to the com-
pany; and “class F,” or fully paid-up stock, of the par value of one
hundred dollars per share, bearing interest at the rate of eight per
centum per annum, payable semi-annually, which may be with-
drawn at any time after the expiration of twelve months from date
of issue on thirty days’ notice to the company.

2. In a meeting of the stockholders of the said State building and
loan company each stockholder of “ class A,” ** class B,” or “class
C”’ stock may, in person or by proxy, give one vote, and each stock-
holder of “class D,” “class E,” or “class F ” stock may, in person or
by proxy, give four votes on each share of stock held by him in the
same right.

3. A general meeting of the stockholders of the said State build-
ing and loan company may be held at any time upon the call of the
board of directors, or of stockholders holding one-tenth in amount
of the capital stock of said company, upon their giving notice of
the time and place of such meeting for thirty days in a newspaper
published in the city of Richmond.
4. All acts and parts of acts inconsistent with this act are hereby
repealed.
5. This act shall be in force from its passage.