Chap. 324.—An ACT to Incorporate the Wythevillo Savings Bank.

Approved July 11, 1870.

1. Be it enacted by the general assembly of Virginia, That
James Kyle, William Gibbony, David Graham, Stephen Mc-
Gavock, Robert Raper, Augustus Henser, Thomas J. Boyd,
William H. Bolling, and Joseph F. Kent, together with such
other persons as are now or may hereafter be associated with
them, shall be and they are hereby constituted and made a
body politic and corporate, by the name and style of The
Wytheville Savings Bank, and by said name and style are
hereby invested with all the rights, powers, and privileges con-
terred, and made subject to all the rules, regulations, and restric-
tions 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 fifty thousand dollars, which may be increased from time
to time to a sum not exceeding five hundred thousand dollars,
in shares of ten dollars each.

3. Said savings bank shall have power and authority to in-
vest its capital stock or other funds in bank or other stock; in
the purchase of bonds issued by this or any otker 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 advance; and
to guarantee the payment of notes, bills of exchange, drafts, or
other evidences of debt: provided, that nothing in this act con-
tained 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.