ELIHU E. JACKSON, ESQUIRE, GOVERNOR.

519

twenty years from the passage of this act, and until the end of

the session of the general assembly, ,vhich shall happen next

thereafter, for the purpose of completing the winding up of its

present affairs and the proper application and distribution of the
assets at present belonging to said body corporate as hereinafter

To extend.

ordered, as well as for the further purpose of continuing the

business of said body corporate in accordance with the plan of

reorganization hereinafter set out, for which purposes it is author-

ized to do all corporate acts and shall have and exercise all cor-

porate powers heretofore granted to said body corporate, except

as herein otherwise ordered and directed, as well as the additional

powers, rights, privileges and franchises hereafter especially

enumerated and granted.

SEC. 3. Se it enacted, That whereas John S. Gittings, the presi-

dent of said body corporate, now acting and last lawfully elected,

was authorized and directed by a resolution of the board of

directors of said body corporate of date July fourteenth, eighteen

hundred and eighty-one, to take into his hands and sell and dis-

pose of the securities and assets of said Chesapeake bank in such

manner as he might deem necessary or advisable for the purpose of
completing the liquidation of the affairs of said bank and the distri-

bution of the assets according to law; now, therefore, said John

S. Gittings, is hereby continued, constituted and appointed as

Trustee.

trustee to take into his hands all the property, credits and assets

of any kind whatsoever now belonging to said body corporate,

and he shall as speedily as practicable after payment of all the

outstanding debts and lawful obligations of said body corporate,

distribute according to law, among the present stockholders of

said body corporate or their assigns, all the said property and

assets so entrusted to him, and upon and after such payment and

distribution of the whole of said property and assets, shall cancel

To cancel.

or cause to be cancelled all certificates of shares of stock in said

bank held at this date by the stockholders of said body corporate

or those holding under them; and said certificates are hereby de-

clared to be cancelled and of no legal force and effect whatsoever

upon and after such final distribution by said trustee aforenamed;

and from and after the passage of this act all holders and owners

of the shares of the said body corporate issued and outstanding

at said date shall have no other right, property, franchises or in-

terest whatsoever by virtue of their title thereto or ownership of

said shares, other than the right to participate proportionately in
the distribution of said assets as in this section provided, and the

right of subscription to the new shares of stock of said body cor-

porate hereinafter authorized to be issued, reserved and secured

to them by the terms of this act, and said trustee is empowered

in such manner as may to him seem proper, to convert the assets

Powers.

and property in this section referred to into money for the pur-