Chap. 353.—An ACT to provide for the issuance of shares of capital stock of
corporations organized under the laws of this State without nominal or

par value. {S B 177]
Approved March 16, 1918.

1. Be it enacted by the general assembly of Virginia, That
any corporation organized under the laws of Virginia, except
banks, trust companies and other similar corporations, may, in its
original certificate for incorporation, articles of association, or any
amendment thereof, provide for the issuance of shares of stock in
such corporations without nominal or par value, other than pr-
ferred stock, by stating in such certificate, articles of association
or amendment, the number of shares that may be thus _ issued
without nominal or par value, each share to be equal to every other
share of similar stock. entitled to equal dividends, and, in the case
of the distribution of the assets, to equal aliquot parts of such
assets, share and share alike, subject to such preferences in favor
of other classes of stock, 1f any, as may be stated in the certificate
for incorporation, articles of association, or amendment.

2. The maximum amount of the authorized capital stock of
the corporation shall be stated in dollars in the application for a
charter or certificate of incorporation and the franchise tax, charter
fee and registration fee shall be based on such maximum amount
so stated.

8. All acts or parts of acts inconsistent with this act are
hereby repealed.