Chap. 389.—An ACT to Incorporate the Farmers Bank of Lynchburg,

In force April 2, 1873.

1. Be it enacted by the general assembly of Virginia, That.
Thomas J. Kirkpatrick, John D. Langhorne, C. M. Blackford,
John Otey Taylor, R. W. Crenshaw, J. J. Mahone, W. Gibbony,
J. J. Wade, J. W. Johnston, W. A. Glasgow, George P. Tay-
loe, John D. Noble, G. W. Rocke, M. B. Tate, G. C. Wharton
and J. 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 Farmers Bank of Lynchburg,
and by this name and style are hereby invested with all the
rights, powers and privileges conferred, and made subject to
all the rules, regulations and restrictions imposed by the laws
of the state upon such institutions, not inconsistent with this
act.

2. The capital stock of the said corporation shall not be less
than ten thousand dollars, which may be increased from time
to time by a vote of its stockholders to a sum not exceeding
three hundred thousand dollars. The par value of each share
of stock shall be fifty dollars.

3. The officers of the company shall be a president, such
number of directors as the stockholders may decide, and such
other officers as the president and board of directors may ap-
point. The president and board of directors shall be elected
by the stockholders in general meeting assembled. The first
president and board elected shall hold their offices until such
day during the next succeeding January as the stockholders
may select as the day for holding the annual general meeting
of the stockholders of said bank, when their successors shall
be elected. Thereafter the president and directors of said
bank shall be elected at every annual meeting of stockholders
thereof, which meeting shall be held on such day in the month
of January as the stockholders may fix by the by-laws govern-
ing said bank. The president and directors may be removed
by the stockholders at any general meeting, but unless so re-
moved shall continue in office until their successors are ap-
pointed. All other agents and officers of the bank shall be
appointed by the president and board of directors, and shall
remain in office during the pleasure of said president and
board of directors.

4. The stockholders, in general meeting assembled, may
adopt such suitable constitution and by-laws for the govern-
ment of the bank as they may deem best: provided, the same
are not inconsistent with this act.

5. The bank shall have power to establish branches or agen-
cies at any point in the state of Virginia for the conduct of a
general banking business, and for doing such other business as
the said bank may do under the provisions of this act. The
management, regulation and control of said branches or agen-
cies shall be vested in said bank or such officers or agents as
it may select.

6. The principal office of said bank shall be at Lynchburg,
in the State of Virginia.

7. The said bank shall have power to purchase and hold
such real estate as shall be necessary for the accommodation
of the business of its principal office or any of its branches.

8. The said bank may conduct a general banking business
in Lynchburg and at the points at which it may establish
branches or agencies, and may discount bills, notes and other
evidences of debt; receive deposits and issue certificates there-
for; buy and sell gold and silver, bullion, foreign coin, bills of
exchange, stocks and bonds; loan money on personal and real
security; guarantee the payment of negotiable notes, bills,
bonds and other written contracts, and receive compensation
for such guaranty; exercise all such incidental powers as shall
be necessary to carry on such business, and all other powers
which are now or may hereafter by law be allowed for like in-
stitutions.

9. This act shall be in force from its passage.