Chap. 129.—An ACT to incorporate the Liberty Savings Bank.

Approved June 10, 1870.

1. Be it enacted by the general assembly of Virginia, That
Edward C. Burks, William W. Leftwich, John H. Booth,
Samuel Hoffman, William Graves, Lauriston A. Sale, J. Irwin
Smith, James F. Johnson, and William V. Jordan, together
with such other persons as are now or may hereafter be asso-
ciated with them, shall be and they are hereby constituted and
made a body politic and corporate by the name and style of
The Liberty Savings Bank, and by said name and style are
hereby invested with all the rights, powers, and privileges con-
ferred, and made subject to all the rules, regulations, and re-
strictions 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 not be less
than three thousand dollars, which may be increased from time
to time to 3 sum not exceeding one hundred thousand dollars,
in shares of ten dollars each.

8. Said savings bank shall have power and authority to in-
vest 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 ad-
vance; and to guarantee the payment of notes, bills of ex-
change, 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 forbearance
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 subject
to amendment, alteration, or modification, at the pleasure of the
general assembly.