Chap. 36.—An ACT to incorporate the Farmers and Merchants Bank
, at Charlottesville. )

Passed January 5, 1867. e

1. Be it enacted by the general assembly, That John L.
Cochran, C..5. Venable, C. H. Stirlingy John H..Bibb, G. M.
McIntire, John C. Patterson and G. Wallace Spooner, and
such other persons as may hereafter be associated with them,
shall be and they are hereby congtituted and made a body
politic and corporate, by the name and style of The Farmers
and Merchants Bank at Charlottesville; the capital stock of
which shall not be less than twenty thousand dollars, nor
more than five hundred thousand dollars, in shares of twenty-
five dollar® each.

2. The persons named in this act of incorporation shall
constitute the first. board of directors thereot. They shall
continue in office for one year from the organization of the
said bank, and until their successors jn office shall be elected
No stockholder shall be eligible to an election as director,
who shall not, at the time, be the alf&Bolute owner, in his own

waht, of at least twenty shares of the capital stock. The
ual meetings of the stockholders shall be provided for
in the by-laws. The board shall consist of not less than
three members, and as many more as the by-laws shall
provide. mo .

3. Tig board may receive money on deposit, and grant
certificates therefor, as may be provided in the by-laws; but
no certificate shall be for less than five dollars; and may buy,
sell and mortgage bullion, coin, bank notes, stocks, bonds,
foreign and domestic bills of exchange and other securities.
ihe property of .the institution and its business shall be
under the.control of its directors.

4, The said bank shall be called The Farmers and Mer-
chants Bank at Charlottesville; and by this‘name and style,
the stockholders hereof and their successors, shall be a body
politit,-and with all the rights, powers: and privileges con-
ferred on banks of. deposit and -discount of this state, by
chapter fitty-nine of the Code of Virgirlia, except so far as
they are inconsistent with this act.

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

e