CHAP. 479.—An ACT to amend and re-enact an act entitled an act to
allow executors and other fiduciaries to invest in Virginia three per
centum bonds issued by virtue of an act approved February 14, 1882,
approved February 9, 1898. (i: S. B. 94.)

Approved March 22, 1916.

1. Be it enacted by the general assembly of Virginia, That
an act entitled an act to allow executors and other fiduciaries
to invest in Virginia three per centum bonds issued by virtue of
an act approved February fourteenth, eighteen hundred and
eighty-two, approved February ninth, eighteen hundred and
ninety-eight, be amended and re-enacted so as to read as fol-
lows:

Section 2700-a. Executors, administrators, trustees and
other fiduciaries may invest the funds held by them in a fiduciary
capacity in the following securities, which are and shall be con-
sidered lawful investments:

(1) In the bonds issued under the act approved February
fourteenth, eighteen hundred and eighty-two, commonly known
as the Riddleberger bonds.

(2) In the stock or bonds or interest-bearing notes or obli-
gations of the United States or those for which the faith of the
United States is pledged to provide for the payment of the prin-
cipal and interest, including the bonds of the District of Co-
fumbia.

(3) In the bonds of any county, city or town in Virginia,
provided the amount of the bonds of such county, city or town,
including the issue in which such investment is made does not
exceed eighteen per centum of the assessed value of the real
estate in the county, city or town subject to taxation as shown
by the last preceding assessment for taxes, and provided the
said bonds are the direct obligation of the county, city or town
issuing the same, and for which the faith and credit of the issu-
ing county, city or town is pledged.

(4) In bonds and negotiable notes secured by first mort-
gage or first deed of trust on unencumbered real estate in the
State of Virginia, not to exceed eighty per centum of the assessed
value of said real estate and improvements. Before any loan is
made upon real estate the lender shall be furnished with a satis-
factory abstract of title, certificate of title or title insurance pol-
icy and a fire insurance policy in an old line company with loss
if any made payable to the trustee as his interest may appear.