Chap. 25,—An ACT to Incorporate the Pulaski-Bank.

Approved January 10, 1871.

1. Be it enacted by the general assembly of Virginia, That
John B. Baskerville, William J. Wall, Edwin Watson, James
A. Walker, Andrew G. Mathews, James M. Crockett, J. H.
Larew, John S. Draper, F. A. Morgan, Gordon Dobbins, to-
gether with such other persons as are now or may hereafter be
associated with them, be and they are hereby constituted a
body corporate under the name and style of The Pulaski Bank,
with all the powers, rights, and privileges, and subject to all the
responsibilities and duties provided with reference to savings
banks or banks of deposit by existing general laws, except so
far as herein otherwise provided.

2. The principal office of the said bank shall be located at
the town of Newbern, in Pulaski county; and its capital stock
shall not be less than five thousand dollars, which may at any
time be increased to any amount not exceeding one hundred
thousand dollars, to be divided into shares of ten dollars each.

3. The board shall regulate the admission of members. The
said’ Pulaski bank may receive money on deposit and grant
certificates therefor; and it may buy, sell, and negotiate bul-
lion, coin, bank notes, foreign and domestic bills of exchange,
lend money on personal or real security, and receive the in-
terest in advance, and guarantee the payment of notes, bonds,
bills of exchange, or other evidences of debt: provided, that
nothing in this act shall be construed as giving any authority
to the said bank to charge or receive for the loan or forbear-
ance of money or for other thing, more than the rate of inte-
rest allowed by law.

4, This act shall be in force from its passage.