Attached files
| file | filename |
|---|---|
| 8-K - PITTSBURGH & WEST VIRGINIA RAILROAD | v211643_8k.htm |
| EX-3.2 - PITTSBURGH & WEST VIRGINIA RAILROAD | v211643_ex3-2.htm |
| EX-99.1 - PITTSBURGH & WEST VIRGINIA RAILROAD | v211643_ex99-1.htm |
Exhibit
3.1
Amendments
to Declaration of Trust, dated February 14, 2011
Pittsburgh
& West Virginia Railroad (the “Company”)
AMENDMENT NO. 1 TO
DECLARATION OF TRUST
THIS
AMENDMENT NO. 1 TO DECLARATION OF TRUST (this “Amendment”), effective February
14, 2011.
WHEREAS, the original Declaration of
Trust (the “Original Declaration”) was made on February 18, 1967, and the
Trustees of the Company, deeming it desirable and in the Company’s best interest
to amend the Original Declaration, hereby duly adopt this
Amendment.
NOW THEREFORE, the Original Declaration
is hereby amended as set forth herein below.
1. New Section
4.1. Section 4.1 is hereby amended and restated to read in its
entirety as follows:
SECTION
4.1. Number, Terms
of Office, Qualification and Compensation of Trustees. The
Regulations shall fix the number of Trustees and their terms of
office. The Trustees shall be individuals of full age, and no person
shall qualify as a Trustee until he or she shall have either signed this
Declaration of Trust or agreed in writing to be bound in all respects by the
Declaration. The Trustees shall receive such compensation, regular or
special, as they shall deem reasonable and proper, but in no event shall the
aggregate annual compensation of the Trustees exceed one-quarter of one per cent
of the net worth of the Trust, as reflected by its books of account, as of the
commencement of the period for which such compensation is paid, or five per cent
of gross income, whichever is less.
2. Continued
Effect. Other than as amended by this Amendment, the remaining
terms and provisions of the Original Declaration remain unchanged and in full
force and effect.