Chap. 88.—An ACT to amend and re-enact section 7 of an act approved February
20, 1894, entitled ‘‘an act authorizing the purchasers of the Richmond and Dan-
ville railroad, their assigns and successors, to become and be a corporation, to
adopt a name therefor, and to possess and exercise general powers; and au-
thorizing the leasing to or by, and the consolidation therewith, of other cor-
porations.’

Approved February 26, 1902.

1. Be it enacted by the general assembly of Virginia, That section
seven of an act approved February twentieth, eighteen hundred and
ninety-four, entitled “an act authorizing the purchasers of the Richmond
and Danville railroad, their assigns and successors, to become and be a
corporation, to adopt a name therefor, and to possess and exercise general
powers ; and authorizing the leasing to or by, and the consolidation there-
with, of other corporations,” be, and hereby is, amended and re-enacted
so as to read as follows: |

§ 7. The business, property, and concerns of said corporation shall
be managed by a board of directors consisting of not less than five nor
more than fifteen members, and one of their number shall be chosen as
president.

The corporation, at a general meeting or at an annual meeting, may,
from time to time, increase or decrease, within the limits hereinbefore
fixed, the number of directors to be elected at the next annual meeting ;
but in case of such increase or decrease, the number to be elected shall be
specified in the notice of the meeting at which the election is to be held.
By the vote of a majority of the stockholders present or represented at
any general meeting, or at any annual meeting, the corporation may
classify its directors into three classes, as nearly as may be equal in num-
bers. In case such classification is made, the term of office of the directors
of the first class shall expire in one year, of the directors of the second
class in two years, and of the directors of the third class in three years,
from the annual meeting at which the first directors so classified are
chosen under this act; and at each annual meeting thereafter the direc-
tors then to be elected shall be elected for three years. Every director
shall continue in office until the expiration of the term for which he was
elected, and until his successor shall have been elected and shall have
accepted his office. All vacancies shall be filled, and all directors for
whose election provision is not otherwise made in this act shall be elected
in accordance with the by-laws.

The stockholders may adopt by-laws for the government of the stock,
property, and concerns of the corporation, and for the regulation of its
directors, officers, and agents, and in and by such by-laws the stock-
holders may prescribe how such by-laws may be amended or repealed :
provided, however, that until otherwise voted by the stockholders the
corporation shall be governed by the by-laws of the Southern Railway
(ompany adopted in accordance with the plan of organization of the
Southern Railway Company filed in the office of the secretary of the
Commonwealth, dated December the fourth, eighteen hundred and ninety-
four.
2. All acts and parts of acts inconsistent herewith are hereby re-
pealed.
3. This act shall be in force from its passage.