CHAPTER 541

An Act to amend and reenact § 56-51.1 of the Code of Virginia, relating
to the donation of entire capital stock of turnpike, or ferry corpora-
tions to Commission or to political subdivisions. 1H

800

Approved April 5, 1954

Be it enacted by the General Assembly of Virginia:

1. That § 56-51.1 of the Code of Virginia be amended and reenacted as
follows:
§ 56-51.1. Donation of entire capital stock of turnpike or ferry
corporations to Commission or to political subdivisions.—Any such turn-
pike or ferry corporation, created under this chapter, may donate and
transfer its entire capital stock to the State Highway Commission, or, in
equitable proportions, to the political subdivisions wherein its toll turnpike
is constructed, or to be constructed, or in the case of a ferry corporation
to such political subdivision wherein its terminals or docks are located or
oA such political subdivisions as may be specified or designated wn tts
charter.

Authority to accept such donation and transfer of such stock is
hereby conferred upon the State Highway Commission and upon the
governing bodies of such political subdivisions in their discretion ; provided
that the offer of donation and the resolution of acceptance shall expressly
stipulate that the acceptance of such donation and ownership of said stock
shall not thereby be deemed to create or involve any obligation or liability
upon said Commission or upon any such political subdivision.