Chap. 267.—An ACT to amend and re-enact sections 1165 and 1166
of chapter 48, Code of Virginia 1887, prescribing qualifications of
bank directors.

Approved February 29, 1888.

1. Beit enacted by the general assembly of Virginia, That
sections eleven hundred and sixty-five and eleven hundred

Google
and sixty-six of chapter forty-eight, Code of Virginia of
eighteen hundred and eighty-seven, be amended and re-en-
acted so as to read as follows:

§1165. Every director of a bank must own in his own:
right at least one hundred dollars of the capital stock of the
bank of which he is a director. Any director who ceases to
be the owner of one hundred dollars of the capital stock, or
becomes in any other means disqualified, shall thereby vacate
his office.

§1166. Each director, when appointed or elected, shall
take an oath, so far as the duty devolves on him, that he will
diligently and honestly administer the affairs of such bank,
and that he is the owner in good faith in his own right of at
least one hundred dollars of the capital stock of said bank,
and that the same is not hypothecated or in any way pledged
as security for any loan or debt, such oath subscribed by the
director making it and certified by the officer before whom it
is taken, shall be immediately transmitted by the cashier of
the said bank to the auditor of public accounts to be filed and
preserved in his office.

2. This act shall be in force from its passage.