on july 12, 1748 the virginia council, the executive body of the virginia house of burgesses, approved a grant of 800,000 acres (324,000 hectares) to a consortium of investors. the grant was located west of the blue ridge mountains, north of the undefined border with north carolina and on the "western waters", i.e. in the ohio valley watershed. unlike the ohio company which was required to recruit settlers to its lands, the loyal company was only required to file surveys on the lands it claimed and allowed to four years to do so.