Chap. 431.—An ACT to prohibit the issuance of certificates of deposit, or other
negotiable instrument of its indebtedness, by any bank, including banks of
deposit and discount, savings institutions, savings societies and trust com-
panies, except upon certain terms and providing a penalty for the violation
thereof. [H B 316}

Approved March 24, 1926.

1. Be it enacted by the general assembly of Virginia, That it
shall be unlawful for any bank, including banks of deposit and dis-
count, savings institutions, savings societies and trust companies, to
issue any certificate of deposit, or other negotiable instrument of its
indebtedness, to the holder thereof, except for lawful money of the
United States, checks, drafts, or bills of exchange which are the
actual equivalent of such money. Any officer or employee of any
bank violating the provisions of this act shall be guilty of a misde-
meanor and upon conviction thereof shall be fined or imprisoned, or
both, in the discretion of the court.