Chap. 181.—An ACT to incorporate the Merchants and Mechanics Sav-
ings Bank of Liberty, Virginia.

Passed Februar y 9, 1867.

1. Beit enacted by the general assembly of Virginia, That
Samuel Hoffman, C. D. Reynolds, James F. J ohnston, Wil-
liam Evans, A. A. Bell, W. W. Leftwich, R. B. ‘Claytor, Ro.
T. Aunspaugh, James 8. Kasey, together with such other

ersons as are now or may hereafter be associated with them,
shall be and they are hereby constituted and made a body
politic and corporate by the name and style of The Mer-
chants and Mechanics Savings Bank of Liberty, Virginia;
and by said name and style are hereby invested with all the
rights, powers and privileges.conferred, and made subject to
all the rules, regulations and restrictions imposed by the Code
of Virginia, applicable to savings banks and not inconsistent
with the provisions of this act.

2. The capital stock of said savings bank shall be not less
than three thousand dollars, which may be increased from
time to time to a sum not exceeding one hundred thousand
dollars, in shares of twenty dollars each.

3. Said savings bank shall have power and authority to
invest its capital stock or other funds in bank or other stocks;
in the purchase of bonds issued by this or any other state of
the United States, or bonds of any incorporated company ;
to lend money upon personal or real security, to discount
bonds, notes and bills of exchange,-and receive the interest
in advance; and to guarantee the payment of notes, bills of
exchange, drafts or other evidences of debt: provided, that
nothing in this act contained shall be construed to authorize
said corporation to take or charge, for the loan or forbear-
ance of money or other thing, more than the legal rate of
interest ; and provided further, that said corporation shall be
subject to the provisions of the law relating to banks of
deposit.

4. 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.