Chap. 219.—An ACT to amend the Code of Virginia by adding a new section
numbered 3822-b so as to provide for service of notice of dissent from mergers
or consolidations of corporations before presentation of the agreement to the
State Corporation Commission in certain cases. [H B 360]

Approved March 23, 1946

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia be amended by adding thereto a new
ection numbered thirty-eight hundred twenty-two-b, as follows:

Section 3822-b. Filing Agreement after three months from meet-
ng.—An agreement of merger or consolidation may provide that notice
ft dissent by any stockholder shall be served on the president, secretary
yr treasurer, either within or without the State, of his corporation, or on
the statutory agent thereof, if such agent has been appointed, at any time
within three months of the date of the meeting of the stockholders of his
corporation to act on the agreement, without awaiting the consummation
of the merger or consolidation. In such case notices of dissent shall be
so served and when so served shall be valid for all purposes and the
boards of directors of the several corporations need not present the
agreement to the Commission until the expiration of the period for dis-
sent provided in section thirty-eight hundred twenty-two-a and such
boards of directors may be authorized by the stockholders to terminate
the agreement in lieu of presenting it to the Commission if of the opinion
that the merger or consolidation is, in all the circumstances, including
the dissents, impracticable or undesirable.

2. An emergency exists and this act is in force from its passage.