Chap. 7.—Au ACT to incorporate the Planters Savines Bank at
Chatham, Virginia.

Approved PDecember 18, 1878.

1. Be it enacted by the general assembly of Virginia, That
J. II. Warerave, James L. Tredway, S. 8. Hurt, George §.
Norman, William M. Tredway, Jr., Lewis A. Riddle, “James
A. Davis, Hezekiah Pige, Daniel Motley, Thomas L. Shields,
Edward T. Jones, George L. Noell, William J. Overbey,
George T. Johnson, and Daniel R. Hunt, tovether 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 Planters
savings Bank, to be located at Chatham, Pittsylvania county,
Virginia, 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 Code
of Virginia applicable to savings benks, and not inconsistent
with the provisions of this act.

2. The capital stock of the said corporation shall not be less
than two thousand dollars, which may be increased from time to
time to a sum not exceeding fifty thousand dollars, divided into
shares of ten dollars each.

3. The said company shall have power and authority to in-
vest its capital stock or other funds in bank or other stocks, in
the purchase of bonds issued by this or any other state of the
United States, and in bonds of any incorporated company ; to
lend money upon personal or real security; to discount bonds
or notes and bills of exchange and receive the interest in ad-
vance, and to guarantee the payment of notes, bonds, bills of
exchange, or other evidences of debt, and to charge for such
cuarantee or negotiation suchrate of premiuin as shall be‘agreed
“On.

4. The directors may frame suitable by-laws, not inconsist-
ent with this act, for the government of the bank; which by-
laws may be ratified, altered or amended by the stockholders in
general meeting.

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