Chap. 664.—An ACT to amend and re-enact an act entitled “an act to incor-
porate the Citizens’ bank in the city of Norfolk,” approved April 20th, 1867,
as amended by an act entitled “an act to amend and re-enact section 2 of the
charter of the Citizens’ bank of Norfolk, Virginia,” approved January 16th,
1890, and to give said bank the powers of a trust, guarantee and safe-deposit
company.

In force March 8, 1896.

1. Be it enacted by the general assembly of Virginia, That the
act entitled an act to incorporate the Citizens’ bank of the city of
seven, a8 amended by an act entitled an act to amend and re-enact
section two of the charter of the Citizens’ bank of Norfolk, Vir-
ginia, approved January sixteenth, eighteen hundred and ninety, be
amended and re-enacted so as to read as follows:

§ 1. Be it enacted by the general assembly of Virginia, That C.
W. Grandy, R. H. Chamberlaine, R. C. Taylor, W. J. Baker, Richard
Walke, junior, and George K. Goodridge, together with such other
persons as they may hereafter associate with them, shall be, and
they are hereby, constituted a body politic and corporate by the
name and style of the Citizens’ bank of Norfolk, Virginia, and by this
name and style are hereby invested with all the rights and privi-
leges conferred on the banks of deposit and discount of thia state by
chapter forty-eight, code of Virginia of eighteen hundred and eighty-
seven, and other chapters applicable to this bank and to such cor-
porations.

§ 2. The capital stock of said corporation shall not be less than
twenty-five thousand dollars, in shares of one hundred dollars each,
which may be increased from time to time to a sum not exceeding
six hundred thousand dollars.

§ 3. The three persons first named in the act of incorporation shall
constitute the first board of directors thereof; they shall continue in
office until their successors are elected and qualified. No stock-
holder shall be eligible as director who shall not at the time be
absolute owner in his own right of at least five shares of the capital
stock. The annual meeting of the stockholders shall be provided
for in the by-laws. The board of directors shall consist of seven
members, unless otherwise provided for by the by-laws. The board
shall regulate the admission of members.

§ 4. In addition to the general powers of banking corporations,
the said corporation shall have power as follows: First, to carry on
the business of banking in all its branches, and to exercise al! such
incidental powers as may be necessary thereto, whether by buying,
selling, making, drawing, discounting, or negotiating promissory
notes, drafts, bills of exchange, bonds, and other evidences of debt,
by receiving deposits, by buying and selling exchange, coin and bul-
lion, by loaning money, taking security, real or personal, therefor,
or otherwise.

§ 5. To receive and keep on deposit all such valuables, gold, silver
or paper money, bullion, precious metals, jewels, plate, certificates of
stock or evidences of indebtedness, deeds or muniments of title or
other valuable papers of any kind, or any other article or thing what-
soever that may be left or deposited with them for safe-keeping, and
to charge such commissions or other compensation therefor as may
be agreed upon or may be proper, and generally to transact and per-
form any and all business relating to such deposit and safe-keeping
or preservation of all such articles or valuables as may be deposited
with them as aforesaid; and for the above purposes to have made in
the vaults of the said bank spaces, drawers, or boxes, to be under
lock and key, for rental to persons or corporations paying for them,
and to whom the key of the spaces, drawers, or boxes shall be given
until their contract or rental shall have expired. And for the pur-
poses of this and all other sections of this act the said bank may
build upon the property recently purchased by it for the purposes of
this corporation a building of such dimensions and such height as
they may deem advisable, and to deal with and to use or lease such
portions of said building as may not be necessary for the purposes
of the present or future business of this corporation; the said build-
ing to be all under one roof and to be occupied by this corporation
in lieu of the present leased premises, and the above provisions of
this act are to be applicable to any other building that may be built
or leased hereafter at any other situation than the one purchased as
aforesaid for the uses of this corporation.

§ 6. To accept the appointment and discharge the duties of ex-
ecutor, sdministrator, curator, guardian, committee, receiver, trustee,
or assignee; to take and accept by grant, assignment, transfer, de-
vise, or bequest, and hold any real or personal estate on any and all
such trusts as are allowed by the laws of this state in the case of a
natural person, and to execute all such trusts in regard to the same
on such terms as may be declared, established, or agreed upon in re-
gard thereto; to act as agent for the purpose of issuing, registering,
or countersigning the certificates of stock, bonds, or other evidences
of debt of any corporation, association, municipality, state, or pub-
lic authority, on such terms as may be agreed upon; to accept and
execute trusts for married women in respect to their separate estate,
whether real or personal, and to act as agent for them in respect to
their management thereof, and generally to accept and execute trusts
of any kind or description that may be committed to them with their
assent by any person or persons whomesoever, or by any co-partner-
ship, body corporate or public, or by any court, whether of this or
any other state, or by any court of the United States.

§ 7. To guarantee the titles to property, real or personal, the punc-
tual performance of contracts, the payment and collection of prom-
issory notes, bills of exchange, bonds and other evidences of debt,
deeds of trust, mortgages, accounts, claims, rents, and annuities.

§ 8. In all cases when applications shall be made to any court of
this state for the appointment of any receiver, trustee, executor, cu-
rator, administrator, assignee, special commissioner, guardian of any
minor, or committee of any lunatic or insane person, it shall be law-
ful for such court, if it shall think fit, to appoint the Citizens bank
of Norfolk, Virginia, with its assent, such receiver, trustee, executor,
curator, administrator, assignee, special commissioner, guardian, or
committee, and the accounts of such corporation in such fiduciary
capacity shall be regularly settled and adjusted as if it were a natu-
ral person, and upon such settlement or adjustment all proper, legal
and customary charges, costs, and expenses shall be allowed to such
corporation for its services and management in the premises, and
the said corporation as such receiver, trustee, executor, curator, ad.
ministrator, assignee, special commissioner, guardian, or committee
shall be subject to all orders or decrees made by the proper tribunal!
under the laws of this state: provided that any oath required by
law to be taken for qualification to any of the offices or trusts above
~waentioned may be taken by any officer of said company, and the
oath prescribed by law may be so modified as to apply to corpora-
tions instead of individuals.

§ 9. When any court shall appoint the said corporation as receiver,
trustee, curator, administrator, assignee, special commissioner, guar-
dian, or committee, or shall allow its qualification as executor, or
shall order the deposit of money or other valuables of any kind
with said company, the capital stock shall be taken and considered
as the security required by law for the faithful performance of its du-
ties, provided the said court shall not deem it necessary to require
further security. The corporation court and the court of law and
chancery of the city of Norfolk, or any other court in this state
wherein said corporation shall offer to qualify as any kind of fidu-
ciary, if it deem it necessary at the time of qualification or after-
wards, may examine the officials or employees of this corporation,
or such of them as it sees fit, on oath or affirmation, as to the se-
curity accorded to those by or for whom this corporation shall have
become responsible as aforesaid, and the expense of such investiga-
tion shall be defrayed by said corporation.

§ 10. Any receiver, trustee, executor, curator, administrator, as-
signee, special commissioner, guardian, committee, or other person
or corporation having control of any bonds, stocks, securities, moneys,
or other valuables belonging to others shall be, and he is hereby, au-
thorized to deposit the same for safe-keeping or on deposit in the
ordinary and usual way with said corporation.

§ 11. All the taxes due the state of Virginia by this corporation
shall be paid in lawful money of the United States, and not in cou-
pons: provided that nothing contained in this act shall be construed
as exempting the company doing business hereunder from the opera-
tion of the tax laws of the state for such cases made and provided,
and the stockholders hereof shall not be personally liable for any
debt or default of this corporation beyond their respective unpaid
subscriptions to the stock.

§ 12. The board of directors of said corporation shall have power
to adopt such rules, regulations, and by-laws for the management
and government of this corporation as it may deem advisable and
not contrary to law or this charter.

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