CHAPTER 356

AN ACT to amend and reenact § 56-47 of the Code of Virginia,
1950, to require any proposed toll road or turnpike com-
pany to obtain from the State Highway Commission a cer-
tificate of approval certifying that its operation will not
injure the State highway system.

[{H178 ]

Approved April 5, 1950

Be it enacted by the General Assembly of Virginia:

1. That § 56-47 of the Code of Virginia, 1950, be amended
and reenacted so as to read as follows:

§ 56-47. Any number of persons not less than five, may, by
executing, filing and recording articles of association as herein-
after set forth, associate under the provisions and subject to the
requirements of this chapter to establish a corporation to pur-
chase, lease, construct, maintain and operate telegraph or tele-
phone lines, or both, a canal, a turnpike, or any other works,
except a railroad, intended to be used for public service, in which
articles of association there shall be stated:

(1) The name of the corporation.

(2) The nature or character of the works to be purchased,
leased, or constructed, maintained and operated, and whether
local to any city or county; and if so local, the name of the city
or county in which the same is constructed or to be constructed,
maintained and operated.

(3) If a telegraph or telephone line, canal, turnpike or
other works constructed or proposed to be constructed through
or into two or more cities or counties, then the principal terminal
places thereof.

(4) Whether local or not, the estimated length of the pro-
posed telegraph or telephone line, canal or turnpike, and if any
other works intended to be used for public service, the estimated
extent of such works and the length of any line of construction
or improvement connected or to be connected therewith; and
if any of the same are constructed, or intended to be constructed,
through or into two or more cities or counties, then the name
of each city or county through or into which the same is con-
structed, or intended to be constructed.

(5) If a bridge, viaduct, aqueduct or tunnel corporation,
the approximate location of its work of improvements, its esti-
mated length and width, and the general character of the mate-
rials proposed to be used in construction.

(6) The period, if any, limited for the duration of the
corporation.

(7) The maximum and minimum amount of the capital
stock of the corporation, and its division into shares.

(8) The names and places of residence of the directors, of
whom there shall be not less than five, and of the officers who
shall manage the affairs of the corporation for the first year,
unless others are sooner chosen by the stockholders to act in
their places.

(9) The place in this State in which its principal office will
be located, together with the name of its post office.

(10) The articles of association may also contain any other
provision not inconsistent with law or the provisions of this
chapter which the incorporators may choose to insert for the
regulation of the business and the conduct of the affairs of the
corporation, and any provision as to the plan of financial organi-
zation, or relating to the internal regulation or government of
the corporation, its directors, stockholders, or any class or
classes thereof.

If the purpose of the corporation is to operate motor pro-
pelled vehicles as common carriers for the transportation of per-
sons or property for compensation on any improved public
highways or by air routes in this State, subsections (2), (3),
(4), and (5) of this section shall not apply; but the articles of
association shall state in lieu thereof such purpose and further
state that the corporation will operate such routes as it may
be authorized to operate by certificates of public convenience and
necessity issued from time to time in accordance with law.

Provided further, that no turnpike or toll road shall be con-
structed or operated in this State unless and until a certificate of
approval be first obtained from the State Highway Commission
certifying that the operation of such toll road or turnpike will
not be harmful or injurious to the secondary or primary roads
embraced in the system of State highways.