Chap. 220.—An ACT to amend and re-enact section 3851 of the Code of Vir-
ginia, as amended by an act approved March 24, 1922, in relation to cor-
porations. [H B 6]

Approved March 19, 1926.

Be it enacted by the general assembly of Virginia, That section
thirty-eight hundred and fifty-one of the Code of Virginia, as amended
by an act approved March twenty-fourth, nineteen hundred and
twenty-two, be further amended and re-enacted so as to read as
follows:

Section 3851. How certificates executed and acknowledged; fees.
duties of the commission and the secretary of the Commonwealth
recordation; certificate to be endorsed and preserved; vesting of cor-
porate powers.—Such certificate shall be signed by at least three per-
sons and shall be acknowledged by them before an officer authorized
by the laws of this State to take acknowledgments of deeds. When
so signed and acknowledged the said certificate, together with the
receipt for the payment of any fee or tax required by law to be paid tc
the State upon the charter, and separate certified checks or bank
drafts, postal notes or money orders, one payable to the secretary o!
the Commonwealth and one payable to the clerk of the proper court
for the amounts of the proper fees for recording such charter, may be
presented to the State corporation commission, which shall ascertair
and declare whether the applicants have, by complying with the re.
quirements of the law, entitled themselves to the charter and shall
issue or refuse the same accordingly.

When so issued the certificate, with all endorsements, together
with the order thereon of the State corporation commission, shall be
certified by the said commission, as required by law, to the secretary
of the Commonwealth, and by the last named officer recorded in the
charter records of his office, who shall thereupon certify the same by
registered mail or personal messenger to the clerk of the circuit court
of the county, or to the corporation court of the city wherein the
principal office of such corporation is to be located, or to the clerk of
the chancery court of the city of Richmond, when such principal
office is to be located in said city, who shall likewise record the same
in a book to be provided and kept for the purpose in his office, and
when so recorded the fact of such recordation shall be endorsed upon
the said certificate and the said certificate, with all endorsements
thereon, shall be returned by the said clerk by registered mail or per-
sonal messenger to the State corporation commission and lodged and
preserved in the office of its clerk. Any failure on the part of such
clerk to comply with the provisions of this section within a reasonable
time, not more than sixty (60) days from the date of issuing of charter
by the State corporation commission shall subject him to a fine of not
less than ten dollars nor more than one hundred dollars to be imposed
by the State corporation commission. |

As soon as the charter shall have been lodged for recordation in the
office of the secretary of the Commonwealth, the persons who signed
and acknowledged said certificate, and such other persons as may be
associated with them according to the provisions of law, or of their
charter, and their successors, shall be a body, politic and corporate,
by the name set forth in the said certificate, with the powers and upon
the terms set forth therein, so far as not in conflict with law; and in
addition shall have all the general powers and be subject to all general
restrictions and liabilities conferred and imposed by this chapter and
by the general laws of this State applicable thereto.