Chap. 142.—An AOT to incorporate the Farmers Bank of Hicksford.
Approved November 27, 1884.

1. Be it enacted by the general assembly of Virginia, That
Cicero Burruss, HE. E. Burruss, R. G. Griggs, H. W. Weiss,
and B. D. Teller, together with such others as may be here-
after associated with them, shall be and they are hereby con-
stituted and made a body politic and corporate, by the name
and style of the Farmers Bank of Hicksford, and by that
name may sue and be sued, plead and be impleaded, in all the
courts of law and equity in this state and elsewhere, and have
perpetual succession and a common seal, which may be
altered at pleasure. They shall adopt such by-laws and regu-
lations as they may think wise and judicious, and generally
do every act necessary to carry into effect this act of incor-
poration.

2. The capita! stock of this bank shall not be less than
twenty thousand dollars, nor more than two hundred thou-
sand dollars, to be divided into shares of one hundred dollars
each. The capital shall be payable by each subscriber, at
such times and in such proportions as may be called for b
the president and directors; and if any such subscriber shall
fail to pay the same so called for upon each and every share
so held, within twenty days after the same has been so called
for, then the amount so called for may be recovered by mo-
tion, upon twenty days’ notice in writing, in any court of
record in the county of Greenesville, in the state of Virginia,
or in the county or corporation of the residence of the holder
of such stock.

3. The funds of this bank may be invested in or lent on
any stock or real security, or be used in discounting bonds,
bills, notes, or other papers: provided, that the rate of inter-
est shall be such as may be lawful at the time of such trans-
action: and provided further, that the interest or discount in
any such transaction may be demanded and paid in advance;
and to purchase and guarantee the payment of notes, bonds,
bills of exchange, and other evidences of debt; and the said
bank shall have power and authority to purchase, or other-
wise lawfully acquire, such real estate as may be necessary
and proper for the successful conducting of its business as a
bank, and to purchase and sell any estate, real or personal, in
order to secure any debt or debts that may be due, for the
purpose of promoting the object and design of this corpora-
tion.

4, This bank shall have power and authority to receive
money on deposit and grant certificates therefor, in accord-
ance with the provisions of its by-laws and regulations. .

5. The officers of this bank shall consist of a president and
not less than five directors, of whom the president shall be
one, to be elected arnually by the stockholders, and a cashier,
to be elected by the board of directors, who shall hold his
office at the pleasure of the said board; and the said board of
directors shall appoint such other officers and agents as to
them may seem necessary and proper to conduct their busi-
ness. A majority of the board of directors shall constitute a
quorum for the transaction of business.

6. The scale of voting at all meetings of the stockholders
of said bank shall be one vote for each share of stock held
by any stockholder.

7. The president and directors shall have power to declare
such dividends of the profits of the bank as they may deem
proper: provided that no dividend shall be declared when in
the opinion of the majority of the board the capital stock
would be impaired thereby. They shall also, at the end of
any year, make a report to the stockholders showing the con-
dition of the bank for the current year.

8. The annual meeting of the stockholders of said bank
Shall be held on the second Tuesday in May of each year:

rovided that the stockholders at any general meeting, or the

oard of directors, may at any time change the day for said
annual meeting, and the said board of directors may at any
time call a general meeting of the stockholders, and any
number of stockholders representing not less than one-third
of the whole number of shares, may require such directors to
call such meeting, or on their refusal to do so, may them-
selves call such meeting in such case, giving at least twenty
days’ notice by publication in any newspaper published in
the vicinity of the bank. In the event of a failure for any
cause to hold an annual meeting, the board of directors shall
continue in office until they or their successors shall be
elected. |

9. The stockholders of this bank shall not be liable for any
loss or damage, or responsibility other than the property they
have in the capital stock and funds of the bank, and unpaid
subscriptions to the stock, to the amount of shares held by
them, respectively, and any profits arising therefrom not
divided. |

10. This act of incorporation shall become the charter of
the Farmers bank of Hicksford, whenever the same shall be
adopted and accepted by the stockholders of the said bank
in any general or special meeting, the vote on the acceptance
thereof to be recorded in the minutes of the said bank.

11. That the said company by the acceptance of this char-
ter, hereby agrees to pay all taxes, dues, and demands due
the state, that may be hereafter assessed against it in lawful
money of the United States and not in coupons.

12. -This act shall be in force from its passage, and be sub-
ject to amendment, alteration, or modification at the pleasure
of the general assembly.

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