Chap. 249.—An ACT to Incorporate the Farmers Savings Bank of Norfolk.
Approved July 9, 1870,

1. Be it enacted by the general assembly That John B.
Whitehead, John James, James G. Pollard, William J. Moore,
Federick Wilson, and William Ward, together with such other
persons as may hereafter be associated with them, not exceed-
ing twenty-four in number, shall be and they are hereby con-
stituted and made a body politic and corporate by the name
and style of The Farmers Savings Bank of the city of Nor-
folk ; and by this name they are hereby invested with all the
rights, powers, and privileges conferred, and made subject to
all: the rules, regulations, and restrictions imposed by the
general laws of the state appertaining to such corporations:
provided, however, that the members of said savings bank
shall have power to appoint their own directory at their first
meeting under this act; but that all elections thereafter to be
made shall be in conformity with the provisions of the act
passed March twenty-fourth, eighteen hundred and thirty-
eight; and provided also, that the said bank shall not have
less than five nor more than nine directors.

2. And be it further enacted, That every note made paya-
ble and negotiable at the office of discount and deposit of this
bank, shall be and is hereby placed on the same footing as
notes negotiable and payable at other banks chartered by the
state; so that the like remedy may be had for the recovery
thereof against the parties thereto or either of them.

8. And be it further enacted, That the minimum capital
stock of said bank shall be five thousand dollars, which may
from time to time be increased to any amount not exceeding
one hundred thousand dollars. |

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