Chap. 213.—An ‘ACT to incorporate. the Ashland Savings Bank.

Passed February 18, 1867.

1. Be it enacted by the general assembly of Virginia, That
samuel T. Bayly, Chastain White, James W. Taylor, Thomas
|. Wooldridge, H. C. Scott, John 8S. James, J. W. Ratcliffe
nd A. Engleking, together with such other persons as are
iow or may be associated with them hereafter, shall be and
they are -hereby constituted and made a body politic and
corporate, by the name and style of The Ashland Savings
Bank; and by this 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 fixed at
not less than five thousand dollars, which may be increased
from time to time to a sum not exceeding one hundred thou-
sand dollars, in shares of twenty dollars each, ~

3. Said company shall have power and authority to invest
its capital stock or other funds in bank or other stocks, in the
parehase of bonds issued by this or any other state of the

nited States, and in 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, bonds,
bills of exchange or other evidences of debt :. provided, how-
ever, that nothing in this act contained shall be construed to
authorize said savings bank to take or charge, for the loan or
forbearance of money or other thing, more than the legal
rate of interest.

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 of the state of Virginia.