Chap. 975.—An ACT to incorporate the Newport News beneficial association.

Approved March 4, 1898,

1. Be it enacted by the general assembly of Virginia, That K. P.
Green, H. A. Brooks, Philip Brown, E. Brown, W. 8. Cooke, Henry

Cooke S. TD. Cardwell. and their successora. he and they are hereby.
constituted a body politic and corporate, under the name and style of
the Newport News beneficial association, having as its object the carry-
ing on of a general sick and death benefit business, the issuing of poli-
cies and the collection of dues by agents appointed by the said organi-
zation.

2. The said corporation may make and use a corporate seal, which it
may alter or renew at its pleasure; may sue and be sued, plead and be
impleaded, contract and be contracted with, and make by-laws, rules
and regulations consistent with the existing laws of this state and of the
United States, for the government, management and control of its niem-
bers, estates ‘and properties, and the due and orderly conduct of its
affairs.

3. The capital stock shall be ten thousand dollars. The directors may
receive real and personal property and services in payment for subscrip-
tion to the capital stock at such valuation as may be agreed upon between
the directors of the company and the subscribers.

4. The said corporation may acquire by donation or purchase, receive,
hold and possess, for the use and enjoyment of said corporation, lands
and other property, and subject to the wishes and direction of said cor-
poration, may rent, sell, convey, invest, encumber, ‘improve, and other-
wise manage and dispose of the same as to the said corporation may
deem most conducive to the interest and promotion of the benevolent
purposes of the said corporation; borrow money and issue bonds for such
length of time as to the said corporation may seem proper, and secure
the payment thereof by deed of trust or mortgage upon the property, real
or personal, of the said corporation: provided, the amount of land so
acquired shall not be more than one hundred acres.

5. The officers of the said corporation shall consist of a president, vice-
president, secretary and treasurer, and of a board of three directors, and
they shall be elected annually by a majority of the vote cast, and shall
hold their respective offices until their successors are elected.

6. The personal lability of each stockholder for the debts of the said
company shall be limited to the amount unpaid on shares or share of
stock subscribed.

7. All certificates of stocks shal! be under seal of the said company and
signed by the president and countersigned by the secretary. Shares of
stock shall be deemed personal property.

8. Hach stockholder shall have one vote, in person or by proxy, in the
election of directors and officers, and at all the meetings of the stock-
holders, for each share of stock held by them.