Chap. 265.—An ACT to amend and re-enact sections 4145 and 4146 of the
Code of Virginia. {S B 250]
Approved March 15, 1922.

1. Be it enacted by the general assembly of Virginia, That sec-
tions .forty-one hundred and forty-five and forty-one hundred and
forty-six of the Code of Virginia, be amended and re-enacted to
read as follows:

Sec. 4145. How incorporated; general powers and duties; use
of words “incorporated” or “corporation” in corporate name.—Trust
companies formed for the purpose of doing a trust business in this
State, or for the purpose of doing a trust business in addition to a
general banking business in this State, may be incorporated accord-
ing to chapter one hundred and forty-eight, and shall be subject to
all the general duties and restrictions and shall have the general
powers provided in the statutes of this State regulating banks of
discount and deposit and saving banks, or which may be hereafter
provided by law, except as shall be otherwise provided in this chap-
ter, but in its articles of incorporation, or in the case of an existing
bank desiring to do a trust business, in its amendments to its articles
of incorporation it shall state its intention to conduct a trust busi-
ness. The word “incorporated” or the word “corporation” shall not
hereafter be a necessary portion of the corporate name of any bank
of discount and deposit, savings bank or trust company in this State,
nor need the corporate name of any banks doing a trust business,
hereafter contain the word “trust” or “trusts.” .

Sec. 4146. Minimum capital; amount to be paid before com-
mencing business——No trust company shall be incorporated with a
less capital than fifty thousand dollars, which shall be fully paid up
before commencing business. If the capital exceeds seventy-five
thousand dollars, at least that amount shall be paid before commenc-
ing business.