Chap. 51.—An ACT to incorporate the Commercial and Savings Bank and
Insurance Company of Fredericksburg.

Passed April 19, 1867.

1. Be it enacted by the general assembly of Virginia, That
John E. Tackett, George B. Scott, J. M. Ford, Montgomery
Slanghter, J. J. Young, George W. Sheppard, and such others
as may associate with them under this act, be and they are
hereby constituted and made a body politie and corporate,
by the name and style of The Commercial’and Savings Bank
and Insurance Company of Fredericksburg, and by that name
may sue and be sued; plead and be impleade ‘din all the
courts of this state; and have perpetual succession; to have,

make and use a common seal; to ordain and publish such by-
laws or ordinances and regulations as they think proper, and
generally to do every act and thing necessary to earry into
effect this act, or to promote the object and design of the
corporation: provided, that such by-laws be not inconsistent
with the laws of this state or of the United States

2. This company may reecive money on deposit in any
amounts, and grant certificates therefor, on such terms as may
he agreed on. The holders of such certificates Inay,on thirty
davy’ notice, be required to return the same for payment and

‘ancellation, and interest shall cease atter the expiration of
such notice; may buy, sell and mortgage bullion, coin and
bunk notes, stocks, bonds, foreign and domestic bills of ex-
change and other securities, and discount nezotiable paper
and take the interest in advance; which paper may be made
payable at the office of the bank and there protested.

3. Said company may make insurance upon dwellings,
houses, stores, upon household furniture, libraries, merchan-
dise and all other species of property, against loss or damage
by tire; may make insurance on lives; may cause theraselves
to be insured, when deemed expedient, against any risk or
risks which they may have made or may make: may grant
annuities: may make insurance upon. vesscls, freights, goods,
wares, merchanilise, specie, bullion, profits, commissions, bank
notes, and may make all and every insurance connected with
Inarine risks of transportation and navigation.

4. The capital stock shall not be less than ten thousand
doliars or more than one hundred thousand dollars, in shares
ot tw enty dollars each.

The persons named in this act, being stockholders, shall
const iva the first board of directors, who shall continue in
office until their successors are clected by a general meeting
of stockholders: and the said directors shall clect a president
and cashier, and the cashier may select a clerk, subject to the
approval of the board, which body shall fix all salaries. T'wo-
thirds of all the directors may, for just cause, remove any
officer. Four members may constitute a querum for Lusi-
ness,and three members must always concur when any money
is to be lent out; and the president and cashier shall continue
to be directors.
6. Each share of stock shall entitle the holder to one vot-
in general meetings, and the liability of stockholders sha_
only be the amount of their stock subscribed.

7. So much real estate may be held as will be convenien:
for the transaction of the business of the bank, and whes
necessary for the successful collection of its debts.

8. The by-laws may provide that two-thirds of the capita:
stock of the bank shall be secured on twice its value ©:
unincumbered real estate.

9. The board of directors may declare such dividends or
profits as will not impair the capital stock.

10. Any three persons of those named in this act may act
as commissioners tor receiving subscriptions to the capita
stock of this bank; and it shall be their duty, when the min:-
mum capital is subscribed, to call the directors together and
organize the institution.

11. Nothing in this act shall be so construed as to autho-
rize the said company to issue and put in circulation any note
in the nature of a bank note; and in no case shall any cer-
tificate of deposit in this bank be held liable to make goo.
any policy of insurance issued by this company, or any other
contract made by it.

12. This company may receive conv eyances in trust from
individuals or corporations of personal or real estate, stocks.
bonds, money or other thing, to be administered or distri
buted in accordance with the terms of such trust, and may
charge a reasonable commission tor such services.

13. This act shall be in force from its passage, and shall he
subject to amendment, alteration or repeal, at the pleasure ot
the general assembly.

Chap, 62.—An ACT for the relief of Major Hart and Samuel R, Edmund:
sop, of Haliiax County.

Passed April 19, 1867.

1. Be it enacted by the general assembly, That Major
Hart and Samuel R. J¢dmundson, of the county of Halitas.
be released and discharged from the payment of a judgment
acainst them, rendered by the circuit court of Halifax county
on the thirteenth day of October, eighteen hundred ani
sixty-six, in favor of the commonw ealth, for the sum of tive
hundred dollars each, and for costs, the said judgment being
founded upon a recognizance entered into In the said court
on the fourth day of October, eighteen hundred and sixty:
four, by tlre said Major Hart and Samuel R. Edmundson, as
bail for the appearance of a certain Edward Womack, to
answer a charge of telony in said court, and it ‘appearing to
the satisfaction of the ceneral assembly that the said Major
Hart and Samuel R. Edmundson ought not to be required to
pay the said judgment.

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