Chap. 288. —An ACT to incorporate the Appomattox banking and trust com-
pany.

Approved February 16, 1901.

1. Be it enacted by the general assembly of Virginia, That H. D.
Flood, J. R. Atwood, R. F. Burke, 8. L. Ferguson, J. R. Horsley, and
Joseph Button, or such of them as accept this charter, and such other
persons as may be associated with them and accept this charter, be, and
they are, hereby created and made a body corporate, under the name and
style of the Appomattox banking and trust company, and by said name
shall have perpetual succession, shall sue and be sued, and have a com-
nA seal, which may be changed at pleasure.

_ That it shall he lawful for the body corporate hereby created, and
it is authorized to engage in the business of banking and to conduct a
bank in accordance with the usages and customs of such institutions
and in conformity with the laws now in force, and those hereafter en-
acted by the general assembly relating thereto; to receive deposits of
money, and allow such interest to the depositors thereof, as may be
agreed upon between the depositors and said body corporate; to loan
money on real and personal estate; to lease, purchase, and hold real es-
tate; to receive and hold in trust estates, real and personal, of every char-
acter (including stocks and choses in action) ; and to purchase, collect,
adjust, settle, sell and dispose of the same upon such terms as may be
agreed upon between said company and the party or parties contracting
with it.

That the corporate body hereby created shall have the power to
exercise by its board of directors or duly authorized agents, sub-
ject to law, all such incidental powers as shall be necessary to carry on
the business of banking by discounting and negotiating bills of exchange.
bonds, promissory notes, drafts and other evidences of debt, by receiving
deposits, by buying, drawing, negotiating and selling bonds, notes, bills
of exchange, coin, bullion and by loaning money on real and personal
security, by guaranteeing the payment of bonds, bills, notes and other
obligations; by re-discounting paper, and purchasing and selling stocks
and other securities.

4. The capital of said company, money received on deposit, and any
other funds belonging to it may be invested in bonds or notes (public or
private), or be loaned on anv stock, or on the security of real estate.
within or without the state of Virginia, or be used in purchasing or dis-
counting bonds, bills. notes or other paper.

Said company is authorized also to purchase, take, have and hold real
estate in the state of Virginia, and invest its capital, deposits and funds
under its control in paying therefor; to lease real estate and to sell and
dispose of all such real estate, and to execute, acknowledge, and deliver
all deeds and other instruments of writing necessary to do so.

5. The capital stock of said corporation shall be ten thousand dollars,
divided into shares of the par value of fifty dollars each, but the said
capital stock may be increased from time to time by a vote of the ma-
jority of the stockholders and upon the payment of the additional char-
ter tax into the treasury of the state of Virginia, or to the auditor of pub-
lic accounts to cover such increase, and a copy of the resolution author-
izing such increase to be lodged with the secretary of the commonwealth.

6. That a board of directors shall be chosen at a meeting of the
stockholders to be held annually on the fifteenth day of April or such
other day as may be prescribed by by-laws, who shall continue in office
until their successors are elected. Fach director shall own in his own
right at least two shares of the capital stock of said company. One mem-
ber of said board shall be elected president thereof, who shall also be
president of said company. Said board shall continue in oflice until the
fifteenth day of April following the acceptance of this charter and com-
mencement of the business authorized by it, and until the first election
of directors by the stockholders.

H. D. Flood, J. R. Atwood, R. F. Burke, 8. L. Ferguson, J. R. Hors-
ley and Joseph Button shall be directors of said company, and should
any of them fail to become stockholders in said company and accept said
office, then any vacancies in said board may be filled by such as do become
members and accept such office.

7%. The board of directors of said company shall fix and determine the
place where the main office of said company shall be located, which may,
in their discretion, be changed at anv time; but it shall be lawful for said
body corporate, by its agents, to receive deposits and pay the same at
such other place or places as it may determine, and to do such other acts
as the board of directors may authorize.

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