Chap. 350.—An ACT Chartering the Bank of Commerce.
Approved April 30, 1874.

Whereas, the judge of the circuit court of the city of Rich-
mond, in vacation, on the thirtieth September, eighteen hun-
dred and seventy-three, upon a certificate, in writing, sub-
scribed and acknowledged as required by acts of assembly,
oy W. B. Isaacs, William G. Taylor, John C. Williams, John

nders, Palmer, Hartsook and company, Simpson, Bass and
company, George S. Palmer, M. Hessberg, Louis J. Bossieux,
W. L. Fleming, A. Oppenhimer, William H. Palmer, Daniel
J.Hartsook, Josiah Ryland, Benjamin H. Nash, John G. Mof-
fett, George A. Hundley and company, Parker Campbell, F.
T. Glasgow, John A. Sloan, P. H. Starke, James Thomas,
junior, A. G. Wortham, H. K. Ellyson, 8S. Freedley, Breeden
and Fox, Ellison and Harvey, Andrew Washburn, and Albert
Ordway, granted a charter of incorporation to the subscribers
thereto, their successors and such other persons as might be
associated with them by the name of The Bank of Commercé;
and whereas, the stockholders in the said bank desire to have
a scale vote established, and their rights, privileges and lia-
bilities in other respects defined and prescribed, and no power
adequate thereto has been conferred by law upon the courts;
now, therefore,

1. Be it enacted by the general assembly, That William
B. Isaacs, William G. Taylor, John C. Williams, John Enders,
Palmer, Hartsook and company, Simpson, Bass and company,
George S. Palmer, M. Hessberg, Louis J. Bossieux, L
Fleming, A. Oppenhimer, W. H. Palmer, Daniel J. Hartsook,
Josiah Ryland, Benjamin H. Nash, John G. Moffett, George
A. Hundley and company, Parker Campbell, F. T. Glasgow,
John A. Sloan, P. H. Starke, James Thomas, junior, A. G.
Wortham, H. K. Ellyson, 8. Freedley, Breeden and Fox, El-
lison and Harvey, Andrew Washburn and Albert Ordway,
together with such others ag are now or may hereafter be
associated with them, shall be and they are hereby constitu-
ted and made a body politic and corporate, by the name and
style of The Bank of Commerce, and by that name may sue
and be sued, plead and be impleaded in all the courts of law
and equity in this state or elsewhere, and have perpetual suc-
cession, to have a common seal, the same to break, alter or
renow at their pleasure, to ordain and establish such by-laws
and regulations as they may think wise and judicious, and
generally to do every act necessary to carry into effect this
corporation.

2. The capital stock of this bank shall not bé less than
fifty thousand dollars nor more than one million of dollars,
to Bo divided into shares of twenty-five dollarseach. The

* ital shall be payable by each subscriber at such times and in
such proportions as may be called for by the president and
directors, and if any such subscriber shall fail to pay the
same so called for upon each and every share so held within
twenty days after the same has been so called for, then the
amount socalled for may be recovered by motion upon twenty
days’ notice, in writing, in any court of record in the city of
Richmond, or-in the county or corporation of the residence
of the holder of such stock.

3. The funds of this bank may be invested in or lent on
any stock or real security or be used in discounting bonds,
bills, notes, or other paper: provided, that the rate of interest
shall be such as may be lawful at the time of such transac-
tion, but the interest or discount in any such transaction may
be demanded and paid in advance and to purchase and guar.
antec the payment of notes, bonds, bills of exchange, and
other evidences of debt, and the said bank shall have power
and authority to purchase or otherwise lawfully acquire such
real estate as may be necessary and proper for the successful
conducting of its business as a bank, and to purchase and eell
any estate, real or personal, in order to secure anv debt or
debts that may be due for the purpose of promoting the ob-
ject and design of this corporation.

4, This bank shall have power and authority to receive
money on deposit and grant certificates therefor in accord-
ance with the conditions and provisions of the law of Vir-

inia.

6 5. The officers of this bank shall consist of a president and
not less than five directors, of which the president shall be
one, to be elected annually by the stockholders, and a cashier
to be elected by the board of directors, who shall hold his

. office at the pleasure of the said board, and the said board of

- directors shall appoint such other officers and agents as to
them may seem necessary and proper to conduct their basi-
ness, @ majority of the board of directors shall constitute a
quorum for the transaction of business.

, 8, The scale of voting at all meetings of the stockholders
of said bank shall be one vote for each share of stock held
by any stockholder. :

7. The president and directors shall have power to declare
such dividends of the profits of,the bank as they may deem
proper: provided, that no dividend shall be declared when,
in the opfhion of the majority of the board, the capital stock

would be impaired thereby. They shall also, at the end of
any year, make a report showing the condition of the bank
for the current year.
8. The annual meetings of the stockholders of said bank
‘shall be held on the last Wednesday of September of each
year: provided, that the said stockholders, at any general
meeting, or the board of directors may, at any time, change
the day for said annual meeting, and the said board of direc-
tors may, at any time, call a general meeting of the stock-
holders, and any number of stockholders not less than one-
third of the whole number of shares may require the directors
to call such meeting, or on their refusal to do ao, may them-
selves call such meeting, in such case giving at least ten days’
notice by prieatien in one of the newspapers published in
the city of Richmond. In the event of a failure from an
cause to hold an annual meeting, the board of directors shall
continue in office until they or their successors shall be elected.

9. The stockholders of this bank shall not be liable for any
loss or damage or responsibility other than the property they
have in the capital stock and funds of the bap& to the amount
of shares held by them respectively, and any profits arising
therefrom not divided.

10. This act of incorporation shall become the charter of
The Bank of Commerce, whenever the same shall be adopted
and accepted by the stockholders of the said bank, in an
general or special meeting called as hereinbefore authorized,
the vote on the acceptance thereof to be recorded in the min-
utes of the said bank.

‘11. This act shall be in force from its passage and approval,
and be subject to amendment, alteration, or modification, at
the pleasure of the general assembly.