Chap. 310.—An ACT to provide that certain corporations which were chartered
to transact fire insurance on the mutual plan, and which have issued no capital
stock although authorized by their charter so to do, shall be deemed fire in-
surance companies operating on the assessment plan and shall be assessed
for taxation on the same basis as corporations without capital stock.

[H B 448]
Approved March 30, 1942

1. Be it enacted by the General Assembly of Virginia, That any
corporation, which, prior to the adoption of the Constitution of nineteen
hundred and two, was granted by a court of record, or the judge thereof
in vacation, a charter to transact the business of fire insurance on the
mutual plan with its activities restricted to one county, and which has
issued no capital stock although authorized so to do by its charter, and
which since its organization has been continuously engaged in such busi-
ness, shall be deemed to be a mutual fire insurance company operating on
the assessment plan, with the same rights as if said charter had been
granted by the General Assembly of Virginia, and said corporation shall
be assessed for taxation on the same basis as a corporation without capital
stock.