Chap. 140.—An ACT making certain banks in the city of Richmond De-
positories of the Public Money.

Passed April 29, 1867.

1. Be it enacted by the general assembly of Virginia, That
the forty-seventh section of chapter fifty: ‘eight of the Code
of Virginia, edition of eighteen hundred and sixty, be amended
and re-enacted so as to read as follows

Ҥ +47. Of the moneys to be paid into the public treasury
of the state, and which, by chapter forty-five, section two,
are required to be paid into one of the banks in the city of
Richmond, one-sixth, or as nearly so as conveniently may be,
shall be deposited i in each of the following named banks, viz:
Virst. The First National Bank of Richmond. Second. The
National Exchange Bank of Richmond. Third. The Planters
National Bunk of Richmond. Fourth. The Union Bank of
Richmond. Fifth. The National Bank of Virginia at Rich-
mond. And sixth. The Richmond Banking and Insurance
Company at Richmond. If either of the said banks shall at
any time fail or refuse to pay the checks of the treasurer
upon the warrant of the proper auditor, or to discharge any
other duty or meet any other obligation pertaining to it as
such depository, no further deposit of public money shall be
made therein, but such deposits shall be in the other five, or
any one or more of them; but no deposit of the public money
of the state shall be made in any one of the said banks until
it shall have entered into bond with security, to be approved
by the governor, in the penalty of one hundred and fifty

thousand dollars, and conditioned for the faithful dischar ve
of the duties and obligations pertaining to it as such ‘de-

pository. If any one or more of the said banks shall fail or
retuse to give the security herein required, or if at any time
the treasurer shall believe that for any reason the morev of
the state cannot or ought.not to be deposited in the said
banks or any of ghem, he shall forthwith make a writen
communication to the governor on the subject, and there-
after shall keep the public money in such place or places as
the governor may direct, until further provision be made by

law.* In the interval before such provision, moneys to be
paid into or out of the public treasury may, if the governor
decm it necessary, be received or paid on the warrant of the
proper auditor, requiring the treasurer to receive or pay the
same without any deposit being made or check drawn upon
a bank, as prescribed by the forty-fifth chapter. It shall,

however, be the duty of the governor, if practicable, to de-
signate : 28 temporary depositories such banks or. bankers as
will consent and be competent to continue the system of re-
ceipts and disbursements required by law, and he shall re-
yuire of any such temporary depository, bond and security,
with the same condition and tor fhe same purposes, as are
hereby required of the banks herein named as depositories,
and he shall prescribe the penalty of any such bond, so that
the same shall in every case be sufficient to cover the amount
of public money to be deposited. ‘The state shall have the
like remedy upon any bond given under this section, in all
respects as is provided by law in respect to the bond of a
sheriff or collector failing to pay the amount of public taxes
with which he is char creable, except that the proceedings
shall be conducted by the treasurer instead of the auditor.”

2. This act shall be in force on and after the fifteenth day of
May next. .